Some Federal Reserve officials have signaled in recent days that they may be close to cutting (or cutting) their key interest rate, which they use as a tool to slow or speed up economic activity, but it's clear that rates will remain as high as they are now going into the new year. At the very least, high interest rates act as a hedge against inflation. Right? The answer may not be that simple. “I think just about every economist I've spoken to has shrugged and said, 'We don't really understand the role that interest rates have played in the…
Author: Private Lending Agent
Triple-A mortgage bonds are defaulting…look at local banks…even with interest rates being cut, refinance rates will hurt…what to do with your portfolio In 2014, private equity giant Blackstone purchased the Manhattan skyscraper using $308 million in mortgage financing.These bonds were AAA rated. The safest bonds. What could go wrong?By 2022, the Manhattan skyscraper's largest tenant had moved out, leaving 77% of the space vacant. Blackstone no longer saw the math and handed the keys over to its lenders.Mortgage bond holders, including MetLife and Farmers Insurance, lost at least 25% of their money. Today, the commercial real estate collapse is spreading…
Key Takeaways Vistage's second-quarter CEO Confidence Index showed that small business leaders' sentiment toward the U.S. economy has weakened from the previous quarter. CEOs are feeling the effects of rising inflation and interest rates, according to the executive coaching firm's latest confidence index released Wednesday. Many CEOs said they are investing in or already using artificial intelligence (AI). Small business CEOs are less confident about the economy than they were earlier this year. Vistage's CEO Confidence Index fell to 83.3 in the second quarter, down from 85.9 in the first quarter. Vistage said the drop in confidence was due in…
Max Slyusarchuk Non-QM lender A&D Mortgage has launched a new loyalty program designed to recognize and reward the dedication and hard work of its broker-partners. A&D Mortgage said in a release that its new ADvantage Partner program will transform the way mortgage brokers work, offering unparalleled benefits and rewards and revolutionizing their business. “The Advantage Partner Loyalty Program is our way of showing appreciation to our partners,” said Max Slyusarchuk, CEO and founder of A&D Mortgage. “The program is designed to reward those who believe in our vision and have worked hard to help us grow into the No. 1…
Key Takeaways Nearly a quarter of economists say the Federal Reserve should cut interest rates when it meets later this month, according to a recent survey. Most economists still expect the Fed to wait until September to cut the federal funds rate, and financial market participants share that view. Federal Reserve officials have said they need more data to show inflation is under control before they start cutting the central bank's benchmark interest rate, which is at a 23-year high. For some economists, July is the new September. That means some economists believe the Federal Reserve should start cutting interest…
Sarah Jansen Mount, the agency's Corporate Content & Culture Manager, reveals the beauty and meaning behind “maximalist” interior décor and the joys of living bold and bright. Read more interior design feature articles in The Agency Magazine As a collective design consciousness, we've long been aesthetically committed to all-white interiors (maybe with subtle accents of rattan or beige). But all signs point to the next evolution of interior design being more diverse: an orgy of rococo mirrors, lush brocade textures, attention-grabbing graphic wallpapers, and bold flooring. Maybe it's time to give up on modern art museum living and make a…
Photo by Shawn Cahan Opinions expressed by Digital Journal contributors are their own. In 2015, Sean Curhan made the pivotal decision to acquire Cornerstone First Mortgage, a small operation with one branch licensed in two states. Fast forward to today, Cornerstone Mortgage has grown exponentially to over 60 branches in 48 states and nearly 350 loan officers. This incredible growth is a testament to Sean Curhan's visionary leadership and commitment to excellence in the mortgage industry. Sean's unique position as both an owner and an active loan officer (closing over $100 million in loans last year) is a testament to…
In a newly released episode of the Real Estate Insiders Unfiltered Podcast, we explore the future state of buyer-seller relationships in the housing market after the National Association of Realtors (NAR) business practice changes go into effect on August 17th. Co-hosts James Dwiggins and Keith Robinson spoke with industry expert Ed Zorn to discuss important questions that real estate agents may have in the wake of the recent Department of Justice investigation that targeted several organizations, including the California Association of Realtors. Dwiggins and Robinson began the episode by digging into Zorn's thoughts on the Department of Justice lawsuit. Zorn…
Lumber Market News Mortgage Applications Increased in Week Ended July 12 Posted on July 17, 2024 According to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Application Survey for the week ending Friday, July 12, the Market Composite Index, a measure of mortgage application volume, increased 3.9% from the previous week on a seasonally adjusted basis. The unadjusted index increased 30.0% compared to the previous week. The refinance index increased 15.0% from the previous week and increased 37.0% compared to the same week a year ago. The seasonally adjusted purchasing index decreased 3.0% compared to one week ago. The…
Any affiliate links to products on this page are from partners who pay us compensation and terms apply to the offers mentioned (see our partner listing advertiser disclosure for more information), but our opinions are our own. Find out how we rate products and services to help you make smart decisions with your money. The overall average interest rate for personal loans remains the same as last week at 21.14%. Personal loans can be used to pay for everything from weddings to home improvements to dental work to income taxes. But most borrowers use personal loans to consolidate their debts.…