With the labor market continuing to cool, as shown by the June employment report, the Fed is likely to cut interest rates in September if next week's inflation data is supportive. The unexpected increase in the unemployment rate from 4.0 to 4.1 indicates a continued softening of the labor market but does not signal an imminent recession. The increase in the unemployment rate is primarily due to an increase in the number of unemployed people, not an increase in people joining the labor force, and the participation rate is little changed from May. The widely used thumb rule, which has…
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. 5 July: More Cuts Expected Ahead of Bank Rate Decision HSBC has unveiled its new residential fixed rate mortgage deals, including market-leading deals for homebuyers, and lower rates across its range for first-time buyers and remortgage borrowers, writes Jo Thornhill. It comes as some experts say the election of a new Labour government today could now lead to a mortgage and property market bounce. HSBC, which has cut deals across its fixed rate range by up to 0.14 percentage points, …
Today’s mortgage rates Average mortgage rates fell moderately on Wednesday. That was a relief. But it was tempered by the fact they started that morning close to recent highs. Earlier this morning, markets were signaling that mortgage rates today might fall again. However, these early mini-trends often alter speed or switch direction as the hours pass. Current mortgage and refinance rates Find your lowest rate. Start here ProgramMortgage RateAPR*Change Conventional 10-year fixed 6.378% 6.448% -0.02 Conventional 30-year fixed 7.079% 7.13% +0.02 Conventional 20-year fixed 6.855% 6.912% -0.04 5/1 ARM Conventional 6.517% 7.699% -0.01 30-year fixed VA 6.815% 6.86% -0.25 30-year…
While many Americans may think that getting their mortgage rate below 4% is not realistic with current interest rates, there is still hope.While the housing market remains unfavorable for buyers, experts say mortgage rates below 4% could save you a lot more money if you know where to negotiate and how to put your money toward your home.Read more: Find out more about assumeable mortgages and how to transfer your mortgageThe best way to ensure you get a mortgage rate below 4% is to look for an “assumable mortgage” — these are mortgages that are insured by the Federal Housing…
The finalists for the annual business awards have been announced. Solihull Chamber of Commerce has announced the finalists for the 2024 awards, which will be held in September. More than 40 businesses were shortlisted for the Solihull Awards across 11 categories, recognising areas including hospitality, retail, customer service and sustainability. One winner from each category will be named Company of the Year (scroll down for the full list of finalists). Sign up to our free West Midlands newsletter and follow us on LinkedIn Email Newsletter BusinessLive is your source for business news across the West Midlands, including Birmingham, the Black…
BOULDER — Two out-of-state real estate investors have purchased the Walnut Business Center for $28 million and announced plans to revitalize the commercial park. ScanlanKemperBard Cos., a Portland, Ore.-based real estate investor and developer, and Chicago-based real estate investment firm Landrock LP have taken over the business center, which includes eight buildings and more than 123,000 square feet of industrial, retail and service space spread across 6.4 acres, from Kreizel/Perry Partnership LLP. “Our vision for Walnut Business Center is more than just a real estate investment,” SKB President Todd Gooding said in a prepared statement. “We are committed to transforming…
The latest jobs report released Friday showed the unemployment rate rose slightly in June as wage growth slowed, suggesting the labor market continues to slow after several years of remarkable strength. Federal Reserve officials are on the alert for signs the job market is on the brink of collapse and may remain vigilant.Federal Reserve policymakers have two main goals: low and stable inflation and a strong labor market. They try to achieve these by either keeping interest rates low to stimulate the economy, or keeping them high, stifling growth.Since the start of 2022, Fed officials have been raising interest rates…
Chicago Atlantic Real Estate Finance (REFI) stands out in the cannabis capital provider and mortgage REIT (mREIT) sector due to its premium valuation, impressive dividend yield, and solid growth track record.”Five of the six publicly traded cannabis capital providers are listed on the NASDAQ, with NLCP being the exception, however some may not be able to offer adequate compensation at this time due to their liquidity, size and/or relative newness,” senior equity analyst Pablo Zuanic wrote in a recent report.Performance and Rating ComparisonREFI is trading at 3% above its book value, reflecting strong investor confidence in its growth prospects.This is…
The July 2024 ICE Mortgage Monitor report, produced by the Intercontinental Exchange, examines the changing composition of the mortgage market.© Shutterstock The July report found that while the mortgage market remains heavily skewed toward low-interest mortgages, average rates are gradually shifting toward higher rates. As of May, about 24 percent of homeowners with mortgages currently have interest rates of 5 percent or higher. Just two years ago, nine in 10 mortgage holders were below that threshold. “Overall, there are 5.8 million fewer sub-5% mortgages on the market today compared to the same period in 2022. This is a slow change…
The 4th of July is my least favorite holiday. It's a hellish day and I'm always happy when I get through it. This year, our neighbors were setting off big loud fireworks in our street. They were so loud it shook the house. Several of us asked them to stop. They said “Whoosh.” Several of us called 911. It was loud, the fireworks were set off so close to our house and some of the people exploding the fireworks were kids who looked to be under 10 years old. Eventually a police car showed up and the officers asked the…