Bank of America Inc. said on Tuesday its second-quarter profit fell as rising interest rates squeezed expenses, including at its large consumer-banking business.by By Ken Sweet AP Business WriterJuly 16, 2024 8:29am ET• 2 min readNEW YORK — Bank of America Inc said its second-quarter profit fell as rising interest rates squeezed the company's expenses, including its large consumer-banking business.But like Goldman Sachs, Bank of America saw a rebound in activity in its investment banking division, helping to offset some of the weakness in other parts of the bank.The Charlotte, North Carolina-based bank said on Tuesday it made a profit…
Author: Private Lending Agent
Mortgage Specialist Lead Broker Shahram Sondi (NMLS 186790 – Principal Broker at The Mortgage Expert | NMLS 2412313) has been a leading mortgage broker in Florida for over 20 years and has helped over 2,300 Floridians get the best mortgage deal on the market. Having closed over $500 million in transactions, he has the expertise and connections to help you. Whether you're buying your first home, your third home, or refinancing, Shahram can help you strategize to get the lowest interest rate on your new mortgage compared to nearly every bank and lender in Florida. Simply put, the lower your…
Regardless of political leanings, this fall's presidential election is seen as a critical juncture for the U.S. In San Francisco, so are local elections. The city's voters, including those in the once-thriving but pandemic-hit commercial real estate industry, are watching the mayoral race with particular intensity because of the number of candidates and expectations for how things will play out once the votes are counted. “We're hearing rejection of the status quo from the real estate industry and from voters alike,” said Jay Chen, executive director of Neighbors for a Better San Francisco, a local political group whose donors include…
Average mortgage rates retreat across the board as of Tuesday, July 16, 2024, pulling popular 30-year terms under 7.00%, a day after Federal Reserve Chair Jerome Powell acknowledged the economy is on its way to a “soft landing” but declined to commit to a Fed rate cut at the end of this month. Still, with a rate cut likely for September, now could be the time for prospective homebuyers to start shopping for a new home.The current average interest rate for a 30-year fixed mortgage is 6.92% for purchase and 6.91% for refinance, down 15 basis points from 7.07% for…
BF Capital is seeking to raise €300 million for its latest real estate debt fund. The German investment firm said the BF Capital Real Estate Debt Fund II fund will primarily invest in senior loans secured by existing real estate with the potential for value-add. At least 80% of the fund's capital will be allocated to such loans. BF Capital managing director Manuel Keppel said the fund would target “core investments or managed green investments” primarily for real estate repositioning and repurposing. Coppel said: “When selecting projects, we consider both environmental and social responsibility. In terms of use classification, our…
Photo by John Greim/LightRocket via Getty Images Today's average refinance rates Refinancing your mortgage Average mortgage rates as of July 16, 2024 compared to one week ago, using interest rate data collected by Bankrate as reported by lenders across the United States. Mortgage interest rates are expected to gradually decline in 2024. You can benefit by comparing loan offers from multiple lenders to get the lowest interest rate. Get started by entering your information below to get a custom quote from CNET's partner lenders. About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates…
Canadian National EMD SD70M-2 No. 8836, hauling a freight train with five loaded center beams at the front, passes the still-manned Elgin, Joliet & Eastern JB Tower in West Chicago, Illinois, and crosses UP's old Chicago & North Western main line. CN and UP are the largest rail transporters of lumber in the U.S. Chase Gunneau. WASHINGTON — Mortgage rates at 30-year highs and a double-digit year-over-year decline in U.S. housing starts have caused Class 1 railroads' lumber business to decline by just 1%, or about 3,300 carloads, compared with July 2023. A currently proposed federal interest rate cut could…
A report from Angus Reid and Finance It found that the vast majority of Canadian homeowners (94%) plan to stay in their current home for at least the next 12 months, with nearly a quarter of them citing the rising cost of living as the reason. Despite the Bank of Canada cutting interest rates in June, the rising cost of living is making people hesitant to make big financial decisions like buying a new home, with the most cautious group — 30 per cent of people aged 35 to 54 — hesitant to move. Renovation: A good option The report…
If you have savings you want to protect against market fluctuations but still earn a decent yield, consider a high-yield savings account. These accounts work just like traditional savings accounts, but they pay a much higher interest rate (around 5% annual interest or more).That said, savings interest rates vary widely, so it's important to do your research and find a competitive rate. Not sure where to start? Here's more information on current savings interest rates and where to find the best offers.Where are the highest savings rates available right now?According to the FDIC, the average interest rate on a traditional…
Any affiliate links to products on this page are from partners who pay us a commission (see our advertiser disclosure and partner list for more information), but our opinions are our own. Find out how we rate mortgages and write an unbiased product review. The weaker-than-expected inflation data has pushed mortgage rates to their lowest since March, with the average rate for a 30-year mortgage hovering in the low 6% range, according to Zillow data.The Consumer Price Index rose 3.0% in June, slowing from 3.3% in May. As inflation continues to slow, the Federal Reserve is expected to begin cutting…