Author: Press Room

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.000% as of May 10, which is 0.010 percentage points higher than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.375%, which is 0.125 percentage points higher than yesterday.  With mortgage rates changing daily, it’s a good idea to…

The high interest rate environment has done little to dampen the appetite for credit products, a recent TransUnion report said.  The report said that in the first quarter of 2024, when counted together, consumers had more than 543 million bank cards in their wallets, an increase of 20 million year over year and more than 88 million from just three years ago. Not only do more Americans have bank cards, but they are also increasingly using their available credit, with balances growing 2.2% over last year. The average new account credit lines rose 3.8% to $5,628.Consumers also increasingly accessed cash…

Check out the companies making headlines in midday trading. Affirm Holdings – The stock popped nearly 7% following the announcement that its buy now, pay later loans will be embedded into Apple Pay as an option for purchases. U.S. Apple Pay users on iPhones and iPads will be able to use the option later this year, the company said in a filing. General Motors – The automaker’s stock added about 2% after announcing a $6 billion share repurchase program. GM also cut its 2024 EV sales forecast due to slow adoption. It plans to produce between 200,000 and 250,000 EVs…

Wednesday is shaping up to be one of the most important days of the year for economic news, as investors will hear about the path of inflation and the manner in which the Federal Reserve plans to react.In a one-two punch that starts in the morning with the pivotal consumer price index reading for May and ends with the Fed’s policy meeting in the afternoon, vital signals will be sent about the direction of the economy and whether policymakers can soon take their foot off the brake.The day “packs months of macro risk into one day,” wrote UBS economist Jonathan…

Shawn Fain, who led the United Auto Workers union in its strike against all three unionized American automakers last fall, is under investigation by a federal monitor overseeing the union. The news of the investigations and competing allegations come at a bad time for the union as it campaigns to organize non-union auto plants around the country. It dredges up past union corruption issues that sent previous union officials to prison, an issue that helped Fain win a narrow upset victory to lead the union last year. And it gives management of the nonunion auto plants another talking point when…

Introduction Lennar Corporation (NYSE:LEN) is set to report its Q2 earnings on the June 17, after the market closes. I wanted to revisit the company to see how well it performed throughout ’23 and whether it may be a good time to start a position before the company announces the numbers. The latter half of ’23 saw a substantial increase in revenues, fueled by strong demand, however, some economies started to cut interest rates, and the US unemployment figures are starting to creep up, which may put a damper on such demand going forward. Therefore, I am maintaining a hold…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Apple on Monday said it has partnered with OpenAI to integrate ChatGPT into its devices, as chief executive Tim Cook set out the iPhone maker’s “next big step” driven by generative artificial intelligence and large language models.Cook and his team outlined upgrades to the company’s software ecosystem coming this year at Apple’s annual developer conference on Monday, aiming to leverage the power of AI to provide a smarter Siri voice assistant and more personalised features on its devices to enhance productivity and…

As President Joe Biden engages in the fight of his political life in a campaign focused on democracy and the rule of law, the most intimate details of his family’s ongoing personal tragedies have been publicly dissected in a courtroom over the last week. Hunter Biden’s struggles with addiction after the death of his brother Beau Biden have been the focus of hours of testimony during his trial for federal criminal charges, putting some of the Biden family’s most personal problems on full display. The president’s son has pleaded not guilty to three felony counts connected to a gun he purchased in…

The May 2024 jobs report showed remarkable strength just in time for new graduates despairing that they might have to move home. You got this, graduate. You can find a job and live on your own. The Biden administration’s efforts to address supply chain issues are effectively slowing down price hikes, and employers are happily and confidently hiring workers. The unemployment rate is 4% — as good a measure of full employment as you can get. Other signals point to a strong economy. Job losers are a lower share of the unemployed — 48.7% — than before. New labor market…

Mortgage rates have steadily been rising over the last few weeks, but rates have finally started to dip. Rates for 30-year fixed-rate mortgages averaged 7.09% as of May 9th, Freddie Mac reported. This is a decent drop from last week when rates averaged 7.22%. Last year at this time, 30-year mortgage rates averaged much lower at 6.35%. Mortgages with 15-year terms also saw interest rates drop. Rates fell to 6.38% from 6.47% last week. Compared to last year when rates averaged 5.75%, buyers are settling for much higher rates.”After a five week climb, mortgage rates ticked down following a weaker…