Author: Press Room
Mortgage rates are down again this week, but remain too high to spark any significant movement in the housing market as the affordability crisis remains set in. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.35% this week from 6.46% last week. The average rate on a 30-year loan was 7.18% a year ago. “Mortgage rates fell again this week due to expectations of a Fed rate cut,” said Sam Khater, Freddie Mac’s chief economist. “Rates are expected to continue their decline and while potential homebuyers are…
A federal judge in Georgia has temporarily blocked President Biden’s administration from implementing its plan to waive federal student loans for almost 30 million borrowers. U.S. District Judge J. Randal Hall issued the order on Thursday, ruling that the states currently suing the administration over the plan have established a case likely to prove the Department of Education does not have the authority to implement the loan forgiveness. “Plaintiffs show a substantial likelihood of success on the merits given the rule’s lack of statutory authority,” the judge wrote, according to Reuters. GOP-LED STATES SUE BIDEN ADMINISTRATION OVER STUDENT DEBT RELIEF PLAN…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks keep sliding: September is proving to be the rough month we thought it would be. A bruising first week of trading continued Friday after the weaker-than-expected August jobs report kept alive questions about the health of the U.S. economy. The S & P 500 is down about 1.7% Friday and on pace for its fourth consecutive day of declines. Still, it’s worth keeping in mind that the index is still…
Former independent presidential candidate Robert F. Kennedy Jr. will not appear on ballots in North Carolina and Michigan, appeals courts ruled in two separate decisions Friday.Election authorities in the two swing states previously decided that Kennedy’s name would remain on their ballots, rejecting his request to withdraw from the race.Friday’s rulings are good news for Republican presidential nominee Donald Trump. In North Carolina and Michigan, Trump polls better in a two-way race against Democratic nominee Kamala Harris than in a six-candidate race, according to polling averages from RealClearPolling.When Kennedy suspended his long-shot campaign and threw his support behind Trump on…
Former President Donald Trump plans to ban mortgages for undocumented immigrants, he said in a speech at the Economic Club of New York on Thursday. Trump claimed the measure would help address housing affordability because a “flood” of people entering the country illegally are pushing up housing costs, but undocumented immigrants only make up a tiny portion of the mortgage market. In 2023, only 5,000 to 6,000 mortgages were made to holders of Individual Tax Identification numbers, according to a recent Urban Institute report. Those who are not legally authorized to work in the US obtain ITINs to file taxes, since…
Bowlero Corp. (NYSE:BOWL) Q4 2024 Results Conference Call September 5, 2024 4:30 PM ET Company Participants Bobby Lavan – Chief Financial OfficerThomas Shannon – Founder, Chairman & Chief Executive OfficerLev Ekster – President Conference Call Participants Steve Wieczynski – StifelMatthew Boss – JPMorganRandy Konik – JefferiesJason Tilchen – Canaccord GenuityJeremy Hamblin – Craig-HallumEric Handler – ROTH CapitalMichael Kupinski – NOBLE Capital MarketsEric Wold – B. Riley SecuritiesDaniel Moore – CJS Securities Operator Ladies and gentlemen, thank you for standing by. My name is Abby, and I will be your conference operator today. At this time, I would like to welcome…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Media scion Shari Redstone is set to receive more than half a billion dollars in severance, stock and benefits from the sale of her family’s empire to the Ellison family. As part of an agreed sale of National Amusements, which controls the media group Paramount through voting stock, Redstone will receive some $180mn in severance and pension benefits, said people familiar with the matter. This is in addition to the sale of her stake in National Amusements, for which she would receive…
Putin trolls U.S. presidential race, saying he favors Harris A day after the U.S. says Russians secretly paid U.S. content creators and made fake news sites, Putin intrudes further, saying he prefers Kamala Harris for president. Read the full article here
This is a true story. We participated in this case, consulting at AgingParents.com. Vulnerability can come on suddenly for a solo ager. Aging veteran (AV) was living alone, and was trying to work out his life as he experienced physical changes. He was okay, he thought. Until he got Covid. He was very ill, but did not need hospitalization. He called on his only son, because he had no one else to look after him at that time. They were not close. His son had a temper but AV felt he had no choice. He was scared. Temperamental son, TS,…
Long-term mortgage rates remained unmoved this week while shorter notes fell some, but did little to spur on demand. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage held steady at 6.35%. The average rate on a 30-year loan was 7.12% a year ago. “Mortgage rates remained flat this week as markets await the release of the highly anticipated August jobs report,” said Sam Khater, Freddie Mac’s chief economist. “Even though rates have come down over the summer, home sales have been lackluster.” Khater noted there has been an uptick…
