Month: January 2022

A home for sale in Susanville, CA. Gary Coronado | Los Angeles Times | Getty Images Rising interest rates are causing big headaches for mortgage lenders, especially those who depend most on refinance business. Demand is simply drying up. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less)
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Ripple has bought back shares from its Series C funding round, which raised the company’s valuation to $15 billion, according to CEO Brad Garlinghouse. He added that despite the lawsuit by the U.S. Securities and Exchange Commission (SEC) over the status of XRP cryptocurrency, Ripple had the best year on record. Ripple’s $15 Billion Valuation
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Consumer spending changed a lot during the pandemic. Among the industries that took off in 2021 are fun industries like restaurants, amusements, gambling venues, hotels, performing arts and air transportation. Plants, puppies, and pots and pans were hot items in the last 22 months as people feathered their nests. Soaring sales of sourdough starter surprised
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Municipals continued their ascent to higher yields Wednesday, even before the Federal Open Market Committee said it would “soon” raise interest rates. U.S. Treasury yields spiked following the FOMC statement and Chairman Jerome Powell’s comments. “Powell’s seeming unwillingness to dismiss some of the more-hawkish scenarios for the path of policy this year, leaving all options
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[embedded content] (Kitco News) – Altcoins, and Ethereum in particular, are “just outright scams” and will should eventually cease to exist, said Max Keiser, host of the Keiser Report and co-hot of The Orange Pill Podcast. Speaking to Michelle Makori, editor-in-chief of Kitco News, Keiser noted that altcoins, or anything other than Bitcoin, are not
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Rohit Chopra, director of the Consumer Financial Protection Bureau. Alex Edelman/Bloomberg via Getty Images The Consumer Financial Protection Bureau on Wednesday signaled a broad crackdown on hidden and excessive fees charged by banks, mortgage lenders and other financial entities. The federal agency, created in the wake of the 2008 financial crisis, is seeking consumers’ input
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Meta, formerly Facebook, is reportedly in talks with investment bankers to sell its assets in the cryptocurrency project Diem, formerly Libra. The diem USD stablecoin was supposed to be issued by Silvergate Bank but it failed to get regulatory approval. Meta Reportedly Seeking Buyers for Diem Crypto Project Mark Zuckerberg’s Meta, formerly Facebook, is trying
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Industry advocacy groups view the Libor transition as a continuing education effort for municipal advisors and an issue that could be eased with a legislative fix from Congress. Speaking Monday at the Government Finance Officers Association’s winter debt committee meeting, Susan Gaffney, executive director of the National Association of Municipal Advisors, said that NAMA has
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If you can control the price of COMEX silver, you can, by extension, also control the share prices of the major gold mining companies, and by further extension… by Craig Hemke via Sprott Money News What in the world do these two things have in common? Not much other than the fact that they share
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