The number of residential mortgages originated in the fourth quarter tumbled to a nine-year low as inflation drove home-loan rates above 7%, according to a report on Thursday from ATTOM. Americans signed 1.5 million mortgages in the closing three months of 2022, including purchase loans and refinancings, down 55% from a year earlier, as interest
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The average rate on the 30-year fixed mortgage jumped back over 7% on Thursday, rising to 7.1%, according to Mortgage News Daily. Growing fears that inflation is not cooling off are pushing bond yields higher. Mortgage rates loosely follow the yield on the U.S. 10-year Treasury. related investing news El-Erian says the Fed should go
Illinois’ budget and pension stabilization funds would receive automatic deposits when the state hits revenue growth and bill payment triggers under legislation that cleared a House committee this week. With a series of infusions over the last two fiscal years, the state’s once-depleted rainy-day fund remains on track to hit $1.9 billion by the end
In this week’s episode of Market Talks, Cointelegraph welcomes Adrian Zduńczyk, or as he is known on Twitter, CryptoBirb. He is the founder and CEO of The Birb Nest, a trading community platform. He is also a chartered market technician, chemical engineer, entrepreneur, mentor and influencer with over 655,000 followers on Twitter. We start things off
Idaho and Wyoming have joined other red states by introducing legislation to ban banks that “boycott” gun manufacturers or energy-related companies. Idaho House bills 189 and 190 introduced by Rep. Barbara Ehardt, R-Idaho Falls, left committees with do-pass recommendations and are headed for third readings on the House floor. Ehardt could not be reached for
This winter, American realtors have a plethora of problems to ponder. Surging interest rates have created a frozen residential housing market and shifting working practices will push office vacancies to 55 per cent above their pre-pandemic peak by 2030, according to new research from Cushman & Wakefield. The prospect of stranded assets looms. But if
Crypto traders’ urge to create leverage positions with Bitcoin (BTC) appears irresistible to many people, but it’s impossible to know if these traders are extreme risk-takers or savvy market-makers hedging their positions. The need to maintain hedges holds even if traders rely on leverage merely to reduce their counterparty exposure by maintaining a collateral deposit
In this article COIN TSLA ON MKTX Follow your favorite stocksCREATE FREE ACCOUNT A worker enters the SalesForce Tower in San Francisco, California, U.S., on Monday, March 14, 2022. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines before the bell. Salesforce — Shares of the cloud software maker soared
The supply of homes for sale rose at a record annual pace for the sixth month in a row, up 67.8% year over year in February, signaling the housing market’s continued rebalancing, according to a recent housing trend survey. Despite the significant increase in inventory over last year’s record lows, home prices are still growing,
March 1, 2023: U.K. house prices saw their sharpest annual decline since 2012 in February, according to Nationwide. Christopher Furlong | Getty Images News | Getty Images LONDON — U.K. house prices fell by 1.1% annually in February, their first annual decline since June 2020 and the sharpest contraction since November 2012, according to a
Federal Reserve Bank of Atlanta President Raphael Bostic called for continued interest-rate hikes to above 5% ensure that inflation returns to the central bank’s target and doesn’t reaccelerate in a pattern similar to the 1970s. “I think we will need to raise the federal funds rate to between 5% and 5.25% and leave it there
Rather than get entangled in controversy over environmental, social and governance issues, Louisiana decided to avoid any problems for its upcoming sale of $275 million of general obligation bonds. The state Bond Commission voted at its Feb. 24 meeting to move ahead with the GO deal via a competitive sale rather than a negotiated transaction
Western allies are pushing the United Arab Emirates to halt exports of critical goods to Russia as they seek to starve Vladimir Putin’s military of components to sustain its war against Ukraine. Officials from the US, EU and UK have in recent weeks visited the wealthy Gulf state to spell out the wide-ranging scope of
On Wednesday, Binance CEO Changpeng Zhao, also known as CZ, announced the launch of a new non-fungible token (NFT) platform infused with artificial intelligence (AI). The AI-centric product is named Bicasso, and CZ said the beta version dropped today and was limited to 10,000 mints. Combining AI and NFTs: Binance CEO Announces Bicasso Artificial intelligence
In this article AMC MNST SPOT Follow your favorite stocksCREATE FREE ACCOUNT Monster Beverage Corp. drinks. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines before the bell. Rivian — Shares of the electric vehicle maker tumbled more than 9% after the company posted mixed fourth-quarter results and an underwhelming
Repeated outages of one of the most popular blockchains believed to have the potential to dethrone the Ethereum network sparked a conversation among community members about the future of those carrying the burden of being called an “Ethereum killer.” A member of a cryptocurrency forum on Reddit opened a conversation on Ethereum killers and questioned
Homes in Rocklin, California, on Tuesday, Dec. 6, 2022. David Paul Morris | Bloomberg | Getty Images Mortgage rates moved higher again last week, pushing buyers back to the sidelines just as the spring housing market is supposed to be heating up. Mortgage applications to purchase a home dropped 6% last week compared with the
Anatoly Yakovenko, the founder and CEO of Solana Labs, has denied claims that Solana’s network outages were being caused by a high volume of validator messages and its on-chain voting system clogging its consensus layer. While the Solana Foundation confirmed in a Feb. 27 post that the “root cause” of the recent 20-hour network outage
Central bankers must augment what they learn from incoming data with clues gleaned from the real economy and avoid putting too much weight on financial markets, said Federal Reserve Bank of Chicago President Austan Goolsbee. In his first public speech since taking office last month, Goolsbee acknowledged it was tempting to lean on the instant
Jaguar Land Rover owner Tata Motors is demanding more than £500mn of government aid for a new battery factory in Britain, in a decision set to be “pivotal” for the future of the UK car industry. People briefed on discussions say the Indian group is close to choosing between Spain and south-west England for its