Despite mortgage rates falling for the fourth consecutive week, there seems to be minimal impact on both current homeowners and potential homebuyers. The Mortgage Bankers Association reported only a slight 0.5% increase in mortgage application volume from the previous week. This lackluster response indicates that the decrease in mortgage rates may not be as enticing
The current state of the currency market is heavily influenced by the anticipation of a U.S. interest rate cut next month. The dollar remains weak against a basket of peers, with sterling trading at multi-year highs and the Australian dollar reaching an eight-month high. The recent data showing a slowdown in domestic inflation in July
After the market’s tumultuous sell-off in early August, pharmaceutical firm Eli Lilly emerged as a standout performer. With shares up nearly 19% in August alone and a significant 64% increase in 2024, the company’s trajectory is impressive. Notably, Eli Lilly hit a fresh 52-week high of $972.53 on August 22nd. Analysts are bullish on the
The housing market in the United States continues to show strength, with home prices reaching record highs despite the recent rise in mortgage interest rates. According to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, prices nationally were 5.4% higher in June compared to the same period in 2023. This represents a significant increase,
The transfer of ownership of the RFK stadium site from the federal government to the District of Columbia seems to be at a standstill, with various roadblocks preventing any progress. The focus on the upcoming election has left this crucial deal stuck just two yards in front of the goal line. The managing partner of
The recent imposition of Canadian trade tariffs on China has sent shockwaves through the Asian currency markets. Most Asian currencies weakened as investors grew increasingly concerned about the prospect of a full-blown trade war. The Japanese yen saw a rally, albeit limited, as safe-haven demand for the greenback also picked up due to geopolitical tensions
The world has seen a staggering 95% increase in the population of crypto millionaires over the past year, with over 172,300 individuals now holding more than $1 million in crypto assets. This massive growth is attributed to the rise of bitcoin exchange-traded funds and other crypto assets, which have experienced significant gains in value. The
Bitcoin’s price took a hit on Tuesday after a weekend rally, primarily due to concerns surrounding escalating geopolitical tensions worldwide. The world’s largest cryptocurrency experienced a 1.4% decrease, dropping to $3,106.6 by 01:10 ET (05:10 GMT). This decline mirrored losses in stock markets, where risk sentiment was dampened by a multitude of geopolitical risks. The
Fans of the Dallas Mavericks and New Orleans Pelicans are eagerly awaiting news on how they will be able to watch local games in the upcoming National Basketball Association season. Both teams are making a significant change by moving away from their regional sports networks owned by Diamond Sports, as outlined in a recent bankruptcy
Consumers looking to purchase or sell a home may face challenges in the coming months as the National Flood Insurance Program (NFIP) is set to expire on September 30. While the Federal Reserve is poised to cut interest rates in September, the reauthorization of the NFIP is crucial for those in flood-prone areas. Homeowners insurance