Illinois Municipal Retirement Fund reduced its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT – free report ) by 2.1% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 49,200 shares of the real estate investment trust after selling 1,050 shares during the period. Illinois Municipal Retirement Fund held 0.06% of PennyMac Mortgage Investment Trust worth $722,000, according to its latest filing with the Securities and Exchange Commission (SEC). Other institutional investors and hedge funds have also recently added to or reduced shares of PMT. Texas Permanent School Fund increased its…
Author: Private Lending Agent
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Rising interest rates on mortgages and construction and development loans inhibited production and demand for single-family homes during June. The U.S. Department of Housing and Urban Development and the Census Bureau reported that housing starts increased 3.0 percent in June at a seasonally adjusted annual rate, to 1.35 million units. June's 1.35 million starts represent the number of housing units builders will begin constructing if development maintains that pace over the next 12 months. Within that total, single-family housing starts fell 2.2% from the upwardly revised May figure to a seasonally adjusted annual rate of 980,000. However, on a year-to-date…
Looking for the latest mortgage rates to help you make a buying or refinancing decision? We can help.Here you can view and compare current mortgage rates, updated daily, so you're up-to-date when buying or refinancing a home.Average 30-year fixed-rate mortgageThe average interest rate on a standard 30-year fixed mortgage is 6.86%, down 0.12 percentage points from last week's 6.98%, according to Bankrate.A 30-year fixed rate mortgage is the most commonly sought loan term. A 30-year fixed rate mortgage will have a lower monthly payment than a 15-year fixed rate mortgage, but will usually have a higher interest rate.Average 15-year fixed-rate…
With new and used car prices continuing to fall and the possibility of interest rate cuts from the Federal Reserve looming, now may be a good time to consider buying a car. According to data from Edmunds.com, the average transaction price for a new car in June was $47,616, down 0.7% from June 2023. Additionally, buyers were able to get bigger discounts off the list price, with the average discount being $1,819 compared to $704 a year ago. Used car prices are also falling, with the average price falling to $27,277 last month from $29,573 a year ago. Despite the…
Calculated Risk July 17, 2024 9:15 AM From the Federal Reserve: Industrial Production and Capacity UtilizationIndustrial production increased 0.6% in June, following a 0.9% increase in May. For the second quarter as a whole, industrial production increased at an annualized rate of 4.3%. Manufacturing output rose 0.4% in June, bringing it up 3.4% (annualized) in the second quarter. In June, the mining and utilities indexes rose 0.3% and 2.8%, respectively. Overall industrial production was at 104% of the 2017 average in June, up 1.6% from a year ago. Capacity utilization rose to 78.8% in June, 0.9 percentage points below the…
Calculated Risk July 17, 2024 8:30 AM From the Census Bureau: Permitted, started, completed Housing starts:Private housing starts in June were at a seasonally adjusted annual rate of 1.353 million, 3.0% higher than the revised May estimate of 1.314 million but 4.4% lower than the June 2023 estimate of 1.415 million. Single-family housing starts in June were 980,000, 2.2% lower than the revised May estimate of 1.002 million. The number of buildings with five or more units in June was 360,000. Building Permits:Private residential units permitted to build in June were at a seasonally adjusted annual rate of 1.446 million,…
4. Fix a leaky faucet Did you know that the average home wastes approximately 11,000 gallons of water each year through leaks and drips? That's the equivalent of filling a swimming pool! A waste of money and natural resources. Leaking faucets are a very common repair for landlords, not only frustrating for tenants but also costing water bill payers a huge amount of money. They are also relatively easy to repair. We will focus on the most common type of compression faucet here. The cause of leaks in compression faucets is the O-ring, a rubber washer designed to seal the…
Kevin Peachey Cost of Living Reporter 16 July 2021Updated July 17, 2024Interest rates affect mortgage, credit card and savings rates for millions of people across the UK.The Bank of England kept interest rates unchanged at 5.25% for the seventh consecutive time in June, despite inflation falling to its target of 2%.Some economists had expected rates to fall in August, but the latest inflation figures suggest the bank may not cut rates until the autumn.What are interest rates and why do they change?Interest rates tell you how much it will cost to borrow money, or how much you will get in…
Mortgage refinance applications increased 15% last week compared to the previous week. The average contract rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased from 7.00% to 6.87%. Mortgage applications for home purchases were down 3% this week and 14% lower than the same week a year ago. Mortgage rates fell to their lowest since March last week, spurring a surge in demand for refinancing, but homebuyers appear unimpressed. Mortgage refinance applications rose 15% last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index, hitting the highest level since August 2022.…