Topline The number of homes scooped up by investors fell at a record pace last quarter amid higher mortgage rates and forecasts calling for substantial declines in home prices—further clouding the outlook for real estate investing but a positive development for potential home buyers looking to reap the benefits of falling housing prices. Key Facts
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A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. Joe Raedle | Getty Images After falling for five straight weeks, mortgage rates jumped last week, triggering a decline in mortgage demand. Total mortgage application volume fell 7.7% last week, compared with the previous week, according to the
Federal Reserve officials stressed the need for further interest-rate increases to help tame inflation, but expressed differing views about how close they are to stopping after new data showed signs of persistent price pressures. Two officials said Tuesday that interest rates may need to move to a higher level than anticipated to ensure inflation continues
UK inflation slowed by more than expected to a six-month low in January, adding to growing evidence that price pressures have peaked. The annual rate of consumer price inflation declined to 10.1 per cent in January, the Office for National Statistics said on Wednesday, down from 10.5 per cent in December. Inflation hit a high
After twenty days of holding the $22,500 support, Bitcoin (BTC) price finally broke down on Feb. 9. Bullish traders had placed their hope on a sustained rally, but this has been replaced by a tight trading range with resistance at $22,000. The downtrend is even more concerning since the S&P 500 is trading near its
Kathryn “Kasey” O’Connor, executive director of the California Hope, Opportunity, Perseverance, and Empowerment (HOPE) for Children Trust Account Program, was awarded the 2022 Chris Allen Memorial Award for Outstanding Advocacy in Public Finance from the National Association of State Treasurers. California Treasurer Fiona Ma nominated O’ Connor for her advocacy of federal legislative issues while
In this article AMKR CDNS PLTR ANET Follow your favorite stocksCREATE FREE ACCOUNT A customer boards an Avis Budget Group Inc. shuttle bus at the Denver International Airport (DEN) in Denver, Colorado, U.S., on Wednesday, Oct. 28, 2015. Luke Sharrett | Bloomberg | Getty Images Check out the companies making headlines in after-hour trading. Avis
The Federal Reserve will likely have to keep raising interest rates to rein in price growth, which could slow economic expansion and affect the jobs market, Governor Michelle Bowman said. “We are still far from achieving price stability, and I expect that it will be necessary to further tighten monetary policy to bring inflation down
Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD. Binance’s CEO on SEC Action Against Paxos and BUSD Following
Less than two years after selling $504.5 million of taxable pension bonds, Kansas is considering buying back a chunk of the debt from bondholders using surplus revenue. House Bill 2102 would appropriate $250 million for the state treasurer to repurchase $300 million of term bonds due in 2051 through a tender offer. State Treasurer Steven
In this article CDNS FIS RL CAT META NSC Follow your favorite stocksCREATE FREE ACCOUNT A Ralph Lauren store in downtown Philadelphia, PA. Fred Imbert | CNBC Check out the companies making headlines before the bell. Norfolk Southern — Shares slid more than 3% following reports that the Environmental Protection Agency sent the rail company
Bitcoin (BTC) price and the wider crypto market corrected at the start of this week, giving back a small portion of the gains accrued in January, but it’s safe to say that the more experienced traders expected some technical correction. What was unexpected was the SEC’s Feb. 9 enforcement against the Kraken exchange and the
What’s the best language through which to understand the complex events of the world today? Is it economic? Political? Cultural? I’ve begun to think it might be psychological. Psychologists (at least many of those I know) tend to divide the world up into two types of personalities: paranoids, who operate as if they are always
Bitcoin (BTC) price is trying to recover over the weekend but the current bounce lacks conviction. This suggests that dip buyers are nervous to load up before the release of January’s consumer price index data on Feb. 14 as that could boost short-term volatility. Although the near term is uncertain, analysts at Delphi Digital expect
Nevada’s rainy-day fund has soared to $904 million, the highest balance in state history, according to Nevada State Treasurer Zach Conine. The balance grew to this level following the transfer of $516.9 million from the state’s general fund last week, according to a release from the treasurer. The balance is more than double what it
In this article NET YELP MSI PYPL LYFT EXPE Follow your favorite stocksCREATE FREE ACCOUNT A traveler arriving at Los Angeles International Airport looks for ground transportation during a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights” in Los Angeles, California, U.S.,
Philadelphia Fed President Patrick Harker said the odds of the Federal Reserve being able to control inflation without triggering a recession are growing, but that the key interest rate must get above 5% and stay there to ensure price pressures ease. “We actually are increasing the odds — we can get a soft landing. That
Gemma Hatvani has worked in the energy industry for 20 years but has not experienced anything like the past couple of months as struggling households flock to her Facebook-based service, Energy Support and Advice UK. “It’s horrendous . . . the demand from people needing food parcels, top-up vouchers . . . I know we hear this word a lot but it’s unprecedented,”
Non-fungible token (NFT) sales rose 18.43% this week, totaling $272.68 million. However, the number of NFT buyers declined by 60.31% to approximately 195,716. Ethereum NFT sales continue to lead the market, accounting for $233.85 million of the total sales, a 25.42% increase from the previous week. Top NFT Collection of the Week: Otherdeed Leads with
Bitcoin (BTC) is beginning its “seventh bull cycle,” and investors should not be scared of crypto post-FTX, Pantera Capital believes. In its latest “Blockchain Letter” on Feb. 8, the asset management firm’s CEO, Dan Morehead, predicted that 2023 would be a “year for rebuilding trust.” Morehead: Crypto assets have “seen the lows” this cycle With