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. Mortgage rates could move later this week depending on the results of a key inflation report. Currently, 30-year mortgage rates are hovering just below 7%, according to data from Zillow.On Thursday, the Bureau of Labor Statistics will release Consumer Price Index data for June. If the data shows inflation slowed last month, mortgage rates could ease…
Author: Private Lending Agent
Sterling faces challenges in third quarterThe British pound will come under pressure going into the third quarter of the year as interest rate cuts are finally in sight. Meanwhile, the UK general election is expected to bring increased volatility and a weaker pound, with the ruling Conservative Party expected to post its worst performance in decades. Current opinion polls predict that the Labour Party will win the general election on July 4th in a landslide victory, but with spending plans still unclear, investors may steer clear of the pound and pound-denominated assets until there is greater clarity on the economic…
From muratdeniz Introduction Invesco Mortgage Capital Series C Fixed-to-Floating Preferreds (NYSE: IVR.PR.C) has slightly outperformed the iShares Preferred and Income Securities ETF (PFF) so far in 2024, delivering high single-digit gains versus the benchmark ETF's mid-single-digit total returns. Invesco Mortgage Capital Series C Preferred Stock vs. PFF (2024) (Seeking Alpha) I believe this strong performance will continue as dividends are well covered by both net income and common stock. Additionally, the reset date for the Series C shares is September 2027, providing current income in an environment where Fed interest rates are expected to be cut, and a free call…
According to MarketBeat Ratings, shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Free Report ) have received an average recommendation of “Hold” from the eight brokerage firms covering the stock. Six analysts have rated the stock with a Hold recommendation, while two have given a Buy recommendation to the company's stock. The average one-year target price of the brokerage firms that have rated the company's stock in the past year is $19.93. BXMT has been the subject of several analyst reports. BTIG Research lowered their price target on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy”…
LOS ANGELES (AP) — The average interest rate on a 30-year mortgage rose this week, pushing up the cost of borrowing money for a home for the first time since late May.Mortgage buyer Freddie Mac said Wednesday that interest rates rose to 6.95 percent from 6.86 percent last week. The average rate a year ago was 6.81 percent.The increase follows four weeks of declines in the average interest rate, which has mostly hovered around 7% so far this year.Rising interest rates could add hundreds of dollars a month to costs for borrowers. Rising mortgage rates have been a major drag…
The average interest rate on a 30-year mortgage rose this week, raising the cost of mortgage borrowing for the first time since late May.by By Alex Veiga AP Business ReporterJuly 3, 2024, 12:02 PM ET• 3 min readLOS ANGELES — The average interest rate on a 30-year mortgage rose this week, raising the cost of borrowing money for a home loan for the first time since late May.Mortgage buyer Freddie Mac said Wednesday that interest rates rose to 6.95 percent from 6.86 percent last week. The average rate a year ago was 6.81 percent.The increase follows four weeks of declines…
Weekly Housing Inventory Data While inventory growth slowed to 6,803 this week, well below my weekly target level of 11,000-17,000 as mortgage rates rise, hitting this target level five times this year compared to zero last year is a big reason why 2024 is a much better year for housing than 2023. As you can see below, the inventory growth data is showing a much healthier year than 2023. Weekly inventory change (June 29 – July 5): Inventory increased from 645,770 to 652,573. During the same week last year (June 30 – July 7), inventory increased from 466,534 to 466,001.…
Homes in the Nunaka Valley neighborhood of East Anchorage. (Lauren Holmes/ADN) Home prices in Anchorage reached their most unaffordable level in 21 years last year, worse than during the Great Recession more than a decade ago, according to the latest data from the Alaska Department of Workforce Development.State economists reported a similar trend statewide in May: Alaska home prices will be at their most unaffordable levels since 2006 in 2023.The cost of homeownership in Alaska has more than doubled since 2018, according to data provided by the Alaska Housing Finance Authority. The average mortgage payment (principal and interest, excluding property…
Gold Q3 Fundamentals ForecastGold is currently trading around $1,900 per ounce, about $100 higher than the starting level for Q2 2024, having reached an all-time high in mid-May. In the global interest rate environment, the expected interest rate cuts, especially in the United States, have not materialized as inflation continues to outpace central banks' forecasts. Central bank purchases, especially in China, have shifted the supply-demand balance in favor of higher prices. However, a pullback in demand could put downward pressure on gold. Additionally, the political risk premium that has supported gold has diminished but could re-emerge at any time, especially…
Gold Q3 Fundamentals ForecastGold is currently trading around $1,900 per ounce, about $100 higher than the starting level for Q2 2024 and having hit an all-time high in mid-May. In the global interest rate environment, the expected interest rate cuts, especially in the United States, have not materialized as inflation continues to outpace central banks' forecasts. Central bank purchases, especially in China, have shifted the supply-demand balance in favor of higher prices. However, a pullback in demand could put downward pressure on gold. Additionally, the political risk premium that has supported gold has diminished but could re-emerge at any time,…