Author: Press Room

In a previous Urban Institute study, researchers spoke to parents with low incomes about how these dynamics affected their lives. We found that when families anticipate an increase in earnings, they tend to focus on the prospect of losing benefits rather than gaining access to tax credits. Losses feel scary for people, as benefits are something they have relied on to support their household. Many families do not have a good understanding of how their benefits will change as their income changes. This often leaves them in a state of uncertainty about their income that limits their ability to plan…

Seven ways a financial advisor’s move can take an unexpected wrong turn—and ways to prevent that from happening. It’s a rule of life that even with the best of planning, things can go wrong. For advisors considering a move, that potential increases exponentially when the due diligence process is rushed or the transition is not well planned. The good news is that common mistakes can be avoided when advisors take the time to be thoughtful and strategic. In guiding countless advisors and teams through their transitions, we identified seven reasons a move could take an unexpected wrong turn—and ways to…

What’s an office worth? For corporate leaders, the office is an invaluable place of collaboration and creativity, fueling employee productivity. More companies are requiring workers back onsite, with 72.5% of private sector establishments reporting little or no telework among their employees, according to a recent Department of Labor survey. Office occupancy has reached a post-pandemic high of more than 50%, according to the latest data from Kastle Systems, which some business executives see as a predictor of more onsite work to come. For building owners and investors, accustomed to valuations rooted in long-term leases, the value of their office assets…

The banking turmoil of March, which saw the collapse of several regional U.S. lenders, will lead to a credit crunch for “small-town America,” according to veteran strategist David Roche.The collapse of Silicon Valley Bank and two other small U.S. lenders last month triggered contagion fears that led to record outflows of deposits from smaller banks.Earnings reports last week indicated that billions of dollars of deposit outflows from small and mid-sized lenders, executed amid the panic, were redirected to Wall Street giants — with JPMorgan Chase, Wells Fargo and Citigroup reporting massive inflows.”I think we’ve learned that the big banks are…

Sales of previously owned homes declined 2.4% in March compared with February, according to a monthly report from the National Association of Realtors. At a seasonally adjusted, annualized rate, that amounts to 4.4 million units. Sales were 22% lower than March of last year.The weakness is likely due to a sharp jump in mortgage interest rates. With home prices still historically high, today’s buyers are increasingly sensitive to even daily moves in mortgage rates. The March sales were likely based on contracts signed in January and February, when rates were volatile.The average rate on the popular 30-year fixed mortgage started…

Home buyers have proved to be mortgage rate sensitive, with home sales over the past year tanking as rates have surged, and improving during periods when rates have ticked down. The past year has shown that as monthly mortgage payments decline, demand goes up. But a new study shows that 5.5% may be the magic mortgage rate that gets things moving in the market, according to analysis from John Burns Research and Consulting, which specializes in the housing industry. Mortgage rates more than doubled over the past year, reaching as high as 7.08% in November, according to Freddie Mac’s average…

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Lawmakers in the US House of Representatives are again looking at regulations on stablecoins under new Republican leadership, but partisan differences and bickering between the two sides may delay the passing of any new law on the topic.The hostile attitudes across partisan lines were described in a recent Bloomberg report as “a bad sign” for any prospects of reaching a quick agreement, despite stablecoins being one of a few areas where Democrats and Republicans in the past have found some common ground.The bickering again came to light on Wednesday this week, when Republicans and Democrats on a House Financial Services…

ChatGPT, a conversational AI model built by OpenAI, has dominated tech conversation in 2023. Payments, banking, and insurance players are eager to understand generative AI’s potential and put it to work.Generative AI has the potential to revolutionize financial services specifically in the payments, banking, and insurance sectors. The most promising use cases across the financial services space exist in personalized marketing and experience, process automation, fraud defense, risk assessment, customer success, and product development. Although there are many positive use cases, generative AI is not currently suitable for compliance, decisioning, and high-risk areas such as securing payment systems or overseeing…

When you buy through our links, Insider may earn an affiliate commission. Learn more. If you have an iPhone and are looking for the best companion wearable, the Apple Watch is a no-brainer. But choosing the best Apple Watch model for your needs? That’s where the decision gets a little complicated. Currently, Apple officially sells three models: the budget-friendly Apple Watch SE, the flagship Series 8, and the top-of-the-line Ultra watch. Beyond that, you can also find some older models at certain online retailers. Among them, the Series 7 is still a worthwhile smartwatch, especially if the price is right.While these…