Mortgage rates have plummeted yet again getty Interest rates have found a new low. This week, the 30-year fixed mortgage rate hit 2.86%, well below the 3% threshold that just a few months ago most people were saying would be the lowest they could reach. As we closed out August, interest rates had already come
fstop123 | Getty Images After a substantial decline last week, the number of borrowers in coronavirus-related mortgage bailout programs dropped by a lot less this week. It’s a signal that homeowners still need a lot more help in order to recover from the ongoing economic ills of the pandemic. There are also indications that a new
$1 Trillion in Housing Bonds: US Real Estate Crisis Held Back by Fed’s Mortgage Purchases The U.S. real estate market is facing a conundrum, as there’s now a tidal wave of renters who can’t pay rent and a massive number of mortgage defaults stacking up like never before. Amid the looming real estate chaos, the
getty As of September 10, 2020, the below described bill has failed in the Senate. To learn about what that bill contained, and what I hope future bills will contain, continue reading. On September 8th, Senate Majority Leader Mitch McConnell (R-KY) released an amendment (S.Amdt.2652) to Senate Bill 178 (the “UIGHUR Act of 2019”) which
The more than three year process of negotiating a new Puerto Rico central government $35 billion debt deal has reached a turning point. On Tuesday the Puerto Rico Oversight Board submitted a status report to the court overseeing the bankruptcy that said “only a brief respite is required” to determine if the board could reach
TipRanks 3 Big Dividend Stocks Yielding Over 13%; RBC Says ‘Buy’ After a four-month run of steady gains, September brought sudden, sharp, losses across the board. The NASDAQ, which peaked over 12,000 on September, has slipped just below 11,000, a loss of 9.4%, while the S&P 500 is down 6.7% in the same period. These
Those that hold physical Silver and Gold know it’s the best way to deal with it while we all witness the events, with an occasional… submitted by J. Johnson via JS Mineset Great and Wonderful Friday Morning Folks, The precious metals are still trading sideways with Gold now priced at $1,954, down $10.40 after
Tesla (TSLA) stock has taken investors on quite the roller-coaster ride. It is now trading at $372.72 per share, down 25% this month, which in turn reflects a 13% rise from $330 per share just a few days prior. The tech rally’s poster boy was hit the hardest during the recent downturn, and its exclusion
Federal Reserve Chairman Jerome Powell, wearing a face mask, testifies before the House of Representatives Financial Services Committee during a hearing on oversight of the Treasury Department and Federal Reserve response to the outbreak of the coronavirus disease (COVID-19), on Capitol Hill in Washington, U.S., June 30, 2020. Tasos Katopodis | Reuters Markets are looking
Surprise surprise… Mortgage credit conditions are at their tightest levels in 6 years. Now down a record of 32% YoY in August! No kidding the Fed had to buy $600B of MBS in the last 6 months. pic.twitter.com/6LD8cKGUMf — Otavio (Tavi) Costa (@TaviCosta) September 11, 2020 29.2 Million. That’s how many people are currently collecting
Shareholders have been dumping energy stocks at a rapid pace so far this September, with many issues losing between 10% and 15%. Lower crude oil prices are driving the decline, although sector equities have the power to decouple from the futures market. The narrow correlation suggests growing uncertainty about the pace of the economic recovery
SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA’s Kennedy Space Center in Florida on May 30, 2020, following the launch of the agency’s SpaceX Demo-2 mission to the International Space Station. NASA/Kim Shiflett JPMorgan Chase thinks it’s found the next hot market for investors: Taking stakes
A record 150 funds were classed as poor performers in a closely watched list of investment product returns, underlining the tumultuous impact of the coronavirus pandemic on stock markets. The twice-yearly “Spot the Dog” list compiled by wealth manager Tilney Bestinvest, which names and shames the worst performing investment funds, reported a 65 per cent
Birmingham, the UK’s second-largest city, has been hit with new coronavirus restrictions, following a surge in infections both locally and nationally. From September 15, residents in Birmingham, and its neighbouring boroughs of Sandwell and Solihull — an area home to 1.6m people in total — will be unable to meet people from other households indoors
When President Trump issued an executive memorandum on Aug. 8 offering payroll tax deferral until the end of the year, a big question was whether the deferral — of the employee portion of Social Security tax — was optional or voluntary to the employer. Guidance was issued 10 days later, on Aug. 18, in Notice
The President of the European Central Bank (ECB) Christine Lagarde said that the coronavirus pandemic has acted as a catalyst in boosting the adoption of digital payments in the European Union. Lagarde expects the majority of the consumers to continue using digital services even in the future. In order to support the digitalization, the ECB
Real estate is always an easy target for legislators. In the case of the pied-a-terre tax, however, … [+] the drawbacks seem likely to erase any possible rewards. getty The New York State Senate has once again placed New York City real estate directly in its sights. Last year the Senate considered a “pied-a-terre” tax
New York City cannot count on financial assistance from Washington to help it recover from the coronavirus pandemic, RXR Realty CEO Scott Rechler told CNBC on Friday. Instead, the real estate executive said the city’s leadership needs to be proactive in charting a path forward despite its budgetary challenges. “The answer can’t be, simply, that
During the last two years, hackers have been trying to crack the seventh-largest bitcoin wallet, an address that holds 69,370 BTC or $712 million using today’s exchange rate. According to the CTO of the cybercrime intelligence firm, Hudson Rock, the wallet is being publicized on hacking forums in order to crack the password. Wallets with
Topline As optimism on Wall Street grows about potential FDA approval for a coronavirus vaccine, here are six stocks that could make outsized gains and rebound on the news, according to experts from Stifel. Stifel says cruise stocks are set to bounce from a vaccine announcement. Getty Images Key Facts Stifel analysts recently highlighted a
New York’s Metropolitan Transportation Authority received its latest hit from Wall Street on Friday when Moody’s Investors Service downgraded its primary transportation revenue bond credit to A3 from A2. The downgrade affects $24.4 billion of transportation revenue bonds. The outlook is negative. The MTA has scheduled the sale of $900 million in transportation revenue green
” data-reactid=”12″>- By Alberto Abaterusso Gold and silver prices outlook ” data-reactid=”13″>Gold and silver prices outlook According to analysts, worldwide economies are forecasted to revive in 2021, picking up from approximately where they abandoned the expansion phase of the cycle due to the Covid-19 induced economic recession. Until then, production, business activities and employment levels
There is nothing really new to say this week. The metals and miners have been basically going sideways… by David Brady via Sprott Money Let me start with an apology, because there is nothing really new to say this week. While we got the sharp move down in stocks with the expected bounce now under
After a record-breaking August surge, volatility has made its way back to the Street. With COVID-19 continuing to impact the financial landscape and the race to the White House narrowing, the recent market volatility convey the uncertainty hanging in the balance. That’s not to say compelling plays can’t be found in the current financial environment.
Take a look at some of the biggest movers in the premarket: Peloton (PTON) – Peloton earned 27 cents per share for its latest quarter, compared to the consensus estimate of 10 cents a share. The exercise equipment maker’s revenue also topped expectations. The profit was Peloton’s first ever, with revenue nearly tripling on the
by Michael Snyder If this is “the recovery”, what are things going to look like once economic conditions start to deteriorate again? As you will see below, more than half of all households in some of our largest cities “are facing serious financial problems”, and Americans continue to file for unemployment benefits at a rate
If you’re just getting started in real estate investing, don’t expect to become an expert overnight. Yes, it’s true that you can make money buying and selling properties. However, it takes knowledge, determination, and skill. It also helps to know some of the classic mistakes that others make when they start investing in property to
Citigroup CEO Michael Corbat said that he is retiring in February after eight years leading the bank, and that the firm’s retail banking chief Jane Fraser will succeed him, making her the first female CEO of a major U.S. bank. Corbat’s move finalizes a management overhaul that had been underway at the third-largest U.S. bank
French billionaire Patrick Drahi has offered €2.5bn to buy out minority shareholders in Altice Europe and take the indebted telecoms company private. Mr Drahi already owns 77.6 per cent of the Amsterdam-listed group’s shares and approached its independent board members in August over a buyout, the group said on Friday. The cash offer from Next
Sterling steadied on Friday as fears over a disorderly Brexit returned to the fore, as risks mount that the UK will renege on its withdrawal agreement with Brussels. The UK currency added 0.3 per cent against the dollar at $1.2842 in early Friday trading. The pound has tumbled more than 3 per cent this week