Author: Press Room
Mortgage rates decreased a bit this week, remaining uncomfortably high for many would-be buyers but hitting their lowest point in months. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.73% this week from 6.78% last week. The average rate on a 30-year loan was 6.90% a year ago.”Mortgage rates declined to their lowest level since early February,” said Sam Khater, Freddie Mac’s chief economist. “Expectations of a Fed rate cut coupled with signs of cooling inflation bode well for the market, but apprehension in consumer confidence may…
Despite President Biden’s request to reinstate the SAVE plan the administration created to help student loan borrowers pay less in monthly payments, the Supreme Court declined to do so on Wednesday. Lower courts blocked the plan earlier in the summer after legal challenges were brought up by GOP-led states. The decision by the court had no immediate effect on the millions of borrowers enrolled in the plan but blocks new applications. When the initial block came, borrowers who were part of the plan were automatically placed into an interest-free forbearance. During this forbearance, borrowers aren’t required to make monthly payments.The…
WASHINGTON — For nearly a decade, former president Donald Trump has rallied voters around a cry to cut the size of the federal government and “drain the swamp.”But now one Republican running in a key House race is trying to distance himself from the proposed cuts, and from Trump’s plan to move 100,000 federal workers out of the D.C.-Maryland-Virginia area while firing “rogue bureaucrats” – policies that could cost the area’s economy billions of dollars.Derrick Anderson is the Republican nominee running in a competitive race to represent Virginia’s seventh congressional district in the House. The district has almost 60,000 federal employees…
Brazil’s supreme court on Friday ordered a nationwide suspension of Elon Musk’s social network X after the company vowed to defy earlier court orders concerning content moderation and the appointment of a legal representative in Brazil.The court’s top judge, Alexandre de Moraes, has also ordered daily fines for people or businesses in Brazil that use VPNs or other methods to access X while the site is banned in the country, G1 Globo reported.The court issued a statement via its government website in Brazil on Friday, saying that it had ordered “the immediate and complete suspension of the operation of X,…
A Brazilian Supreme Court justice on Friday ordered the suspension of Elon Musk’s social media giant X in Brazil after the tech billionaire refused to name a legal representative in the country, according to a copy of the decision seen by The Associated Press The move further escalates the monthslong feud between the two men over free speech, far-right accounts and misinformation. Justice Alexandre de Moraes had warned Musk on Wednesday night that X could be blocked in Brazil if he failed to comply with his order to name a representative, and established a 24-hour deadline. The company hasn’t had…
This article is part of a series that provides an ongoing analysis of the changes made to Duquesne Family Office’s 13F stock portfolio on a quarterly basis. It is based on Stanley Druckenmiller’s regulatory 13F Form filed on 08/14/2024. The 13F portfolio value decreased from $4.39B to $2.92B this quarter. The holdings are concentrated, with recent 13F reports showing around 75 positions, many of which are very small. There are 30 securities that are significantly large (more than ~0.5% of the portfolio each) and they are the focus of this article. The largest five stakes are Coherent, Coupang, Vistra Corp,…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A Hungarian train consortium backed by prime minister Viktor Orbán is withdrawing its takeover bid for a Spanish train maker after Madrid blocked the transaction on national security grounds, according to people close to the bidder.Two days after Spain vetoed the €600mn offer for train maker Talgo by the Ganz-Mavag consortium, the Hungarian group decided on Thursday to take it off the table while it pursues legal action against Madrid’s decision.But the people close to the consortium stressed that it wanted to…
Former President Donald Trump announced he would implement a policy that would pay for in vitro fertilization treatments, should he be elected in 2024. Former Trump White House communications director Alyssa Farah Griffin and former Trump administration official Matt Mowers weigh in. Read the full article here
“I don’t want to be a burden on my children when I’m old.” This statement is one I consistently hear expressed by older people from all walks of life. While it’s natural and noble to be worried about how you might disrupt your children’s lives as you age, “worrying” isn’t a strategy! Instead, use any worries you might feel as motivation to take steps now to plan for the time you’ll likely be frail. I say “likely” because unfortunately, it’s not really a matter of if you’ll become frail; most retirees will experience some degree of physical or mental decline…
The housing affordability crisis is hitting swing states hard. These battleground states, which could potentially be won by either candidate, are especially focused on the issue of affordability in the upcoming election. About nine in 10 adult Gen Zers reported housing affordability is important when deciding who to vote for, Realtor.com found. Housing payments in swing states have nearly doubled since the last election, rising by 92% to $2,161, on average. Rising home prices and mortgage rates have largely contributed to this jump in ownership costs. The average sales price in swing states increased by about 40% since 2020, and…
