Author: Press Room
Mortgage rates climbed again this week, exacerbating the home affordability crisis that is stifling the housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage jumped to 7.17% this week from 7.1% last week. The average rate on a 30-year loan was 6.43% a year ago. The average rate on the 15-year fixed mortgage rose to 6.44% from 6.39% last week. One year ago, the rate on the 15-year fixed note averaged 5.71%. Read the full article here
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. During the week of May 6, 2024, average private student loan rates increased for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 10-year fixed-rate loans and decreased for 5-year variable-rate loans. 10-year fixed rate: 8.14%, up from 7.32% the week before, +0.825-year variable…
Americans are racking up more credit card debt as still-high inflation and steep interest rates continue to make the cost of everyday necessities more expensive. The New York Federal Reserve Bank’s Quarterly Report on Household Debt and Credit, slated for release on Tuesday morning, is expected to show that credit card debt hit a new record during the three-month period from January to March, smashing a previous high of $1.13 trillion, according to Matt Schulz, chief credit analyst LendingTree.”Credit card balances have never risen from the fourth quarter of one year to the first quarter of the following year. I…
Household debt levels in the U.S. increased in the first quarter of 2024, which created new challenges for already stressed credit card borrowers, according to a new report from the Federal Reserve Bank of New York released Tuesday. The report found that overall debt levels rose by $184 billion, or 1.1%, in the first quarter to a total of $17.69 trillion. Overall borrowing levels are $3.5 trillion higher than they were at the end of 2019 prior to the onset of the COVID pandemic.Of the total, mortgage balances rose by $190 billion to $12.44 trillion while overall outstanding credit card…
A renaissance in Western styles can boost stocks that specialize in denim, according to TD Cowen. Analyst Oliver Chen hailed the jean-fabric category as a strong performer that should be able to keep up momentum through at least the end of 2024. While positive on stocks across the space, he specifically pointed to Boot Barn , Levi Strauss and Ralph Lauren as key plays on the trend. “We see the recent momentum in the denim category as sustainable in the near to medium term,” Chen wrote to clients Wednesday. “Our experts highlighted the continued growth of the Western fashion cycle…
The U.S. Department of Education is giving borrowers more time to meet a key student loan forgiveness deadline.Those who request a so-called loan consolidation by June 30 — which will combine their federal student loans into one new federal loan — could get their debt canceled sooner than they would have otherwise. Some could even see their debt forgiven immediately.Previously, the deadline to qualify for the Biden administration’s account adjustment was April 30.”The Department is working swiftly to ensure borrowers get credit for every month they’ve rightfully earned toward forgiveness,” U.S. Under Secretary of Education James Kvaal said in a statement…
OpenAI’s chief scientist and cofounder, who played an instrumental role in CEO Sam Altman’s short-lived ouster from OpenAI in November, announced that he was leaving the company on Tuesday. “After almost a decade, I have made the decision to leave OpenAI,” Ilya Sutskever said in a social media post. “I am excited for what comes next — a project that is very personally meaningful to me about which I will share details in due time.” Sutskever played a central role in the dramatic firing – and return – of OpenAI CEO Sam Altman last year, a management crisis that ultimately…
Last updated: May 15, 2024 13:16 EDT | 2 min read Meme coin markets are in overdrive, and Floki Inu is on the climb, with FLOKI bulls now targeting a new all-time high after an aggressive upside move triggered by Revolut.It’s no secret that dog-coins are here to stay. In fact, the unique staying power of Dog-themed cryptocurrencies is deserving of a focused study by academics.As an icon in the meme coin market since 2021, Floki Inu is once again leading the charge. #FLOKI IS NOW LIVE ON REVOLUT BUSINESS! Revolut is the biggest neobank and retail trading app in…
Their success has also spawned an array of imitators.Known as multimanager funds, or “pod shops,” because they diversify their bets across all manner of strategies with scores of trading teams, these trading behemoths have become a powerful industry force that manages billions of dollars on behalf of investors with a keen eye on managing risk.According to Goldman Sachs, assets under management at multimanager hedge funds swelled from $170 billion to $370 billion between 2019 to mid-2023 alone. Headcount grew 80% to 18,100. This rapid growth has given rise to a behind-the-scenes professional responsible for recruiting and retaining talent for hedge funds:…
OpenAI and Meta are reportedly preparing to release more advanced AI models that would be able to help problem-solve and take on more complex tasks.OpenAI’s chief operating officer, Brad Lightcap, told The Financial Times that the company’s next version of GPT would show progress on solving “hard problems,” such as reasoning.”I think we’re just starting to scratch the surface on the ability that these models have to reason,” he told the outlet. Meta’s executives signaled a similar trajectory for the company’s upcoming Llama 3 model, expected in the coming weeks.Joelle Pineau, vice-president of AI research at Meta, said the company…
