Karina Stathis Daily Mail Australia 2024-07-07 16:26, updated 2024-07-07 16:39 A young couple is leaving Australia and the rising cost of living behind to see the world.Brittany Trovarelli and Mitchell Taylor, both 28, from Melbourne, left their nine-to-five jobs and set off on an indefinite trip in February.It's a lifestyle that's a dream for most Australians, with high interest rates and stagnant wages putting added strain on personal finances.Speaking to FEMAIL, the couple said they had to make sacrifices over the years to save up money for their overseas trip.They worked two jobs and lived with roommates for 12 months…
Author: Private Lending Agent
Firefighters battle a blaze at a shopping centre in Larne's Main Street district on July 7, 2024 (Photo by Kevin Scott)Firefighters battle a blaze at a shopping centre in Larne's Main Street district on July 7, 2024 (Photo by Kevin Scott)Firefighters battle a blaze at a shopping centre in Larne's Main Street district on July 7, 2024 (Photo by Kevin Scott)Firefighters battle a blaze at a shopping centre in Larne's Main Street district on July 7, 2024 (Photo by Kevin Scott)Firefighters battle a blaze at a shopping centre in Larne's Main Street district on July 7, 2024 (Photo by Kevin…
Rawf8/iStock via Getty Images Welcome to the latest edition of our Preferred Stock Market Weekly Review, where we provide a bottom-up look at specific news and events, as well as a top-down overview of the overall market, to determine how the preferred stock and baby bond markets are performing. We also provide historical context and themes that we believe are driving the market and that investors should take note of. This update covers the period up to the last week of June. For a look at the broader revenue space, be sure to check out our other weekly updates covering…
Mirae Asset Global Investments Co. Ltd. announced in its latest filing with the SEC that it reduced its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT – free report) by 19.1% during the first quarter. The fund sold 209,730 shares during the quarter to hold 886,468 shares of the real estate investment trust. Mirae Asset Global Investments Co. Ltd. held 0.51% of Blackstone Mortgage Trust's stock, valued at $17,650,000, as of the end of the latest reporting period. Several other large investors also recently modified their holdings in BXMT. The Vanguard Group increased its holding in Blackstone Mortgage Trust by 15.3%…
Calculated Risk 2024/07/07 08:21:00 AM Note: Newsletter covers apartments and offices: Moody's: Apartment vacancy rate unchanged in Q2, office vacancy rate hits record highEconomists at Moody's Analytics say demand for apartments is gradually recovering, stress in offices continues to be evident, retail is strong despite bankruptcies and industrial is cooling.Data for the second quarter of 2024 shows retail vacancy rates remaining steady at 10.4%, maintaining a normal trend. Asking and effective rents both increased slightly by 0.2% to $21.79 and $19.07 per square foot, respectively. Consumer spending in the second quarter was below expectations. After a 0.2% decline in April,…
While commercial real estate is often talked about as a problem for smaller banks, it is the larger banks that are bearing the most visible scars so far.But that's not what's happening in the stock market. Falling values of offices, apartments and other commercial real estate are weighing on the stock prices of all banks, especially smaller ones. The KBW Regional Bank Index is down about 12% this year, while the KBW (^BKX) Nasdaq Bank Index of large banks is up nearly 9%.The Wall Street Journal's most-read articlesRegional, community and small banks account for more than a quarter of U.S.…
WASHINGTON, DC — The Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) have released the latest data from the National Survey of Mortgage Originations (NSMO). This latest release provides a comprehensive look at mortgage performance and credit information from 2013-2021. What the data reveals The FHFA and CFPB have been conducting quarterly surveys of recent mortgage borrowers since 2014. These surveys gather valuable insight into borrowers' experiences, perceptions of the mortgage market, and expectations for the future. The newly released data includes responses from borrowers through 2021, providing an additional year of insight. Sati Patravansh, deputy…
Alanis Morissette could have been talking to regulators and lenders in her 1995 hit “You Learn” which highlighted the benefits of experience. Instead of “you live…you learn,” for bankers it is “you lend……you learn.”In the early 1990s a drawn-out real estate recession and recovery was the result of banks and regulators being heavy-handed when there was no liquidity in the market. The game plan in the Great Recession of 2008-2010 was squeeze those that can pay and leave the others alone. It was a somewhat laissez-faire approach by the banks that seemed to work and allowed weaker balance sheets to…
30-year mortgage rates have been rising steadily. They are currently at 6.76%, up 6 basis points from yesterday, 14 basis points from last weekend, and 13 basis points from this time last month.You may be wondering when mortgage rates will fall enough to noticeably affect your monthly payment. The answer? Probably not in 2024, but in 2025. The Federal Reserve may only cut the federal funds rate once this year, but it will likely cut it four times in 2025. When the federal funds rate falls, mortgage rates tend to follow.Current mortgage interest ratesAccording to the latest Zillow data, current…
High mortgage rates have made homes unaffordable and reduced demand, and homebuilders are responding by building fewer homes.Census Bureau data shows that the number of homebuilding permit approvals has fallen significantly in recent years, with the total number of homes approved in the first five months of this year down 41 percent compared with the same period two years ago.”The homebuilding industry and buyer demand have been dramatically affected since interest rates spiked in the summer of 2022,” said John Covert, director of land services at major real estate firm Cushman & Wakefield. “Rising interest rates and home prices rising…