Mortgage Rates Could Top 7% This Spring as Inflation Ticks Up
Inflation rose to 3.2% year over year for the third consecutive month, exceeding the Federal Reserve's 2% target.
Higher inflation may lead to the Fed maintaining higher interest rates for an extended period, impacting mortgage rates and the housing market. [ more ]
The Federal Reserve's decision to cut interest rates could aid President Biden's re-election prospects.
Rate cuts could improve housing affordability and drive down mortgage rates, potentially enticing home buyers and increasing the supply of available homes. [ more ]
1 Top Growth Stock Down 80% to Buy in 2024 and Hold Forever | The Motley Fool
ZoomInfo's stock experienced a roller-coaster ride in its first few years as a public company, but its revenue spiked by 57% in 2021.
The company's sales growth slowed down to just 9% in its most recent quarter due to factors like soaring interest rates and inflation, putting profitability as a priority for venture capital firms. [ more ]
UK inflation falls less than expected to 3.2% in March
Inflation in the UK eased to 3.2% in March, the lowest level in two-and-a-half years, potentially leading to interest rate cuts in the future. [ more ]
UK recession: Jeremy Hunt insists Tory party must stick to our guns' over economy
Jeremy Hunt insists prioritizing tackling inflation is the right thing to do after the UK slid into a recession.
Hunt believes that sticking to their plan will result in a relief for families with mortgages as interest rates may start to fall by early summer. [ more ]
ANALYSIS | Why the central bank won't circle a date for interest rate cuts | CBC News
The Bank of Canada has left its key overnight lending rate unchanged at five percent, citing concerns about underlying inflation and the need to maintain elevated rates.
Economists expect the central bank to start lowering interest rates by the summer, with predictions of a quarter-point cut in June and a total of 150 basis points in cuts by the end of the year. [ more ]
Biden's Plan B on Inflation: Turn It Against Trump
President Biden's plans for inflation control and interest rate cuts are not going as expected, impacting his economic and political strategies. [ more ]
Bitcoin and gold hit new record highs in 2022, with Bitcoin surging 50% year-to-date supported by SEC's approvals and lower interest rate expectations.
Gold remains a strong safe-haven asset even with cooling expectations for rate cuts, influenced by factors like a weaker dollar and potential market instability. [ more ]
Tesla has Wall Street worried about how many cars it just sold
Tesla's sales may decline due to reduced demand for electric vehicles and higher interest rates.
Analysts estimate a decrease in vehicle deliveries for the quarter, signaling potential challenges for the company.
Elon Musk's directives, including mandatory test drives for a driver-assistance feature, might have impacted Tesla's sales in the final week of March. [ more ]
January home sales jump 22 per cent from last year's weak start | CBC News
January home sales in Canada saw the largest year-over-year increase since May 2021, reflecting weakness in the housing market last year.
Market sentiment has been buoyed by the prospect of Bank of Canada rate cuts and a drop in fixed mortgage rates, but the central bank is not expected to cut rates in time for the spring.
The national average home price in January was $659,395, up 7.6% from January 2023, and the number of newly listed properties increased by 1.5% month over month. [ more ]
Council appears headed for pause on HealthSouth redevelopment plans - Austin Monitor
City Council leaning towards delaying selection of redevelopment plans for former HealthSouth site due to high interest rates and real estate pipeline.
Presentation included four development scenarios focusing on affordable housing, Capitol View Corridor restrictions, and incentives. [ more ]
Inflation expected to rise for second month in blow to Rishi Sunak live
Economists expect inflation to have risen for the second month in a row, with Consumer Prices Index inflation estimated at 4.2 percent in January.
The rise in inflation could impact the Bank of England's base interest rate and could affect households struggling with higher mortgage rates. [ more ]
Analyzing JPMorgan (JPM) and Wells Fargo (WFC) for March: Buy, Hold, or Sell? | Entrepreneur
The Federal Reserve is expected to cut interest rates, impacting the U.S. banking sector outlook.
Investors may wait for a better entry point in banking stocks like JPMorgan Chase and Wells Fargo amid challenges like higher deposit costs and potential loan defaults. [ more ]
Will Tech-Focused Biglaw Firms Be Forced To Conduct Layoffs This Year?
The recent layoffs at Fenwick & West may be due to various factors including interest rates affecting venture work, overhiring, and associate salary raises.
Tech-focused firms that did not announce layoffs last year may still be at risk of having to do them in 2024. [ more ]
U.S. inflation up 0.3% in January, Fed still expected to cut interest rates this year | CBC News
U.S. consumer prices increased more than expected in January, driven by rising costs of shelter and health care.
The Federal Reserve is still expected to cut interest rates despite the inflation increase, as policymakers want convincing evidence of sustained slow inflation. [ more ]
US employers added surprisingly robust 353,000 jobs in January in further sign of economic strength
US employers added 353,000 jobs in January, exceeding expectations and indicating a strong economy.
The unemployment rate remained at 3.7% and wages rose unexpectedly fast, which could affect the Federal Reserve's plan to cut interest rates later this year. [ more ]
Rising interest rates and property expenses are causing landlords in Los Angeles to struggle with debt payments.
About $580 million in commercial mortgage-backed securities debt tied to apartment buildings in Los Angeles has been watchlisted for having low debt service coverage ratios. [ more ]
SteelWave and Barings Give El Segundo Building to Lender
SteelWave and Barings have surrendered a 164,400-square-foot office building in El Segundo to a lender after facing $53.1 million in troubled debt tied to the property.
The affiliate, San Mateo-based 2160 GRAND PO, borrowed $69.6 million from New York-based New York Life to revamp the property, and the renovation was completed in 2022. [ more ]
The Federal Reserve holds interest rates steady but signals rate cuts may be coming
The Federal Reserve held interest rates steady but signaled that rates could fall in the coming months if inflation continues to cool.
Policymakers are cautious about reducing the target range for interest rates until they have gained greater confidence that inflation is moving sustainably toward 2%. [ more ]