Listen to this article As we enter the first six months of 2024, all eyes are on the Federal Reserve as it considers its next move to lower interest rates, tame inflation, and deliver price stability and maximum employment to the domestic economy. There is a lot to balance, especially as high interest rates impact domestic economic growth. This is a response to the Fed’s high interest rates of 5.25% to 5.5%, with current 30-year mortgage rates over 7%, higher than last year’s average of 6.8%. Gross domestic product (GDP) for Q1 2024 is $28.3 trillion, 1.3% higher than Q4…
Author: Private Lending Agent
Find out what’s happening with mortgage rates today and calculate monthly repayments across a range of different rates and deals. 11 July: Competition Intensifies Ahead Of Bank Rate Cut Barclays is cutting selected fixed rates for residential purchase and remortgage by up to 0.33 percentage points, laying the gauntlet down to other lenders with its table-topping rates, writes Jo Thornhill. The latest reductions will push Barclays five-year purchase fixed-rate to the top of the best buy tables with a rate of 4.09% (60% loan to value) with an £899 fee. Barclays Premier banking customers can secure the same deal at…
National Average of Lender's Best Rates – Refinance Loan Type Refinance Rate Daily Change 30-Year Fixed 6.96% -0.04 FHA 30-Year Fixed 6.60% No Change VA 30-Year Fixed 6.14% -0.01 20-Year Fixed 6.76% -0.08 15-Year Fixed 5.88% -0.30 FHA 15-Year Fixed 6.33% No Change 10-Year Fixed 7.45% No Change 7/6 ARM 7.43% -0.20 5/6 ARM 7.61% -0.07 Jumbo 30-Year Fixed 7.08% -0.19 Jumbo 15-Year Fixed 6.71% -0.32 Jumbo 7/6 ARM 7.97% No Change Jumbo 5/6 ARM 7.81% -0.07Provided via the Zillow Mortgage API Use our mortgage calculator to calculate monthly payments for various loan scenarios. Our published rates are not directly…
Mortgage lending continues to ease as lower interest rates have led lenders to add cash-out refinance products to their menus, according to the Mortgage Bankers Association.The mortgage credit supply index was 95 in June, up 1 percent from 94.1 in May but down from 96.6 a year ago.While the MCAI has risen for six consecutive months, credit conditions remain historically tough: the index has not risen above its benchmark level of 100 since March 2023.”While recent credit supply growth has been encouraging, the index still hovers near its lowest level since 2012,” deputy chief economist Joel Kang said in a…
Jim Cramer's CNBC Investing Club hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. Here's a recap of Thursday's key moments. The S&P 500 and Nasdaq on Thursday slid from record highs recorded in the previous session after investors shifted money from big technology stocks to smaller caps following a weaker-than-expected inflation report. The Consumer Price Index (CPI), a measure of the cost of goods and services, fell to its lowest level since 2021 in June, strengthening the case that the Federal Reserve should cut interest rates sooner rather than later. Nvidia, Apple and Microsoft, which are club…
Robson Laidler Accountants is in celebration after winning the ESG Impact Award at the North East Accountancy Awards 2024. The accounting and consulting firm, which has offices in Newcastle and Durham, was named one of The Sunday Times' Best Companies to Work For and won the ESG Impact category at a ceremony held at St James' Park. The ESG Impact Award is presented to teams that demonstrate environmental, social and governance commitment and achievements. Managing director Graham Purvis said: “We operate our business on the principle of the triple bottom line – people, planet and profit – ensuring these are…
A survey by Bonkers.ie found that one in four adults (25%) are unaware that favourable interest rates are available for savers. There is currently a record 156 billion euros deposited in banks, with almost 90% of it in accounts paying an average of 0.13% interest. The average interest rate on fixed deposit accounts in Ireland has risen to 2.68% from 0% two years ago, with AIB and Bank of Ireland launching accounts with 3% interest, and Revolut and N26 offering instant-access savings accounts with interest rates of up to 4%. Elsewhere in Europe, around half of savers have parked their…
Both headline and core inflation continued to slow in June as lower gasoline prices offset rising housing costs, another dovish signal for future monetary policy following a big downward revision in the employment data. Despite a slowdown in year-over-year growth, housing costs continue to drive up inflation, accounting for more than 60% of the overall increase in core inflation. While the report shows signs of softening prices, the Fed needs more data to confirm a consistent de-inflation trend toward its 2% target before considering cutting interest rates. The Fed's ability to address rising home prices is limited because rising home…
WASHINGTON — (AP) — U.S. inflation fell for a third straight month in June, signaling that the worst price surge in four decades is steadily fading and that interest rate cuts by the Federal Reserve could be coming soon.The Labor Department's consumer price index released Thursday beat expectations, showing it was flat last month but fell 0.1% from May to June, the first monthly decline in inflation since May 2020, when the pandemic crippled the economy.Also, compared to a year ago, prices were up 3% in June, slower than the 3.3% annualized rate in May.The latest inflation reading will help…
JHVE Photo Investment Thesis Since our last research article, Bank of America (NYSE:BAC) shares have outperformed the market, with a total return of 12.59% at the time of writing. This indicates that the bank is operating well and we believe that we can expect a favorable performance heading into its next earnings report on July 16th. Bank of America has been gaining market share, especially in investment banking and capital markets. This is good for the bank, given that investment banking is expected to continue to recover as interest rates fall. Interest rates were high due to inflation after the…