(MENAFN) Mortgage applications in the United States fell last week as mortgage rates recovered from three-month lows, according to the latest report from the Mortgage Bankers Association (MBA). The composite market index, which measures mortgage applications, fell 2.6% on a seasonally adjusted basis in the week ended June 28. However, the unadjusted index showed a notable increase of 8% from the previous week.Mortgage rates trended higher last week, topping the 7% mark, according to MBA chief economist Mike Fratantoni. The increase came despite continued market expectations that the Federal Reserve may cut interest rates…
Author: Private Lending Agent
Angel Oak Mortgage REIT (NYSE:AOMR – Get Free Report) fell 2.8% in midday trading on Wednesday. The stock fell to a low of $11.90 and was last traded at $11.99. 64,338 shares were traded in midday trading, up 40% from the session average of 45,900 shares. The stock had previously closed at $12.33. Analysts Set New Price Targets Several research firms have recently commented on AOMR. B. Riley reaffirmed a “neutral” rating on shares of Angel Oak Mortgage REIT and set a $12.00 price target in a report on Tuesday, March 26th. UBS Group raised their price target on Angel…
Cash is a great comfort to savers, and that's not going to change overnight. Still, the threat of lower interest rates means now is a good time to lock in yields.It's unclear when the Federal Reserve will cut interest rates for the first time since its sharp hikes in 2022 and 2023. There's currently a 67% chance that the first cut will come in September, but Fed Chairman Jerome Powell said Tuesday that policymakers need to see inflation calm before taking any action. Either way, the road down will likely be less steep than the road up. Several rate cuts…
Water stressIndia's population of 1.42 billion and largely rural-based economy are heavily dependent on annual monsoon rains, with water-intensive crops such as rice, wheat and sugarcane accounting for more than 80 percent of the total supply.The monsoons themselves are prone to severe weather extremes, and rapid urbanization is shrinking water catchment areas, so even when the monsoons are good, much of the rainwater runs off into the ocean.According to government projections, India's per capita annual water supply is about 1,486 cubic meters, but as the population grows, this is expected to fall to 1,367 cubic meters by 2031. Since 2011,…
Zombie mortgages are making a comeback. The first wave occurred “after the fall of 2008 recession,” and now “we're seeing a second wave of zombie mortgages as home prices continue to soar,” David Weber, a professor of law at Creighton University, told The New York Times.Zombie mortgages are effectively second mortgages that homeowners thought they'd paid off, and they can cause serious problems, from back-paying interest and increasing late fees to possible collections and foreclosure. Even scarier, according to a New York Times report, “homeowners may not even know that a second lender has a title to their property.”What is…
Aberdeen commercial property investment hits six-year high Calendar Desk calendar icon. Cancel Circle icon with a line through it. Caret Right-pointing block arrow icon. Email Paper envelope icon. Facebook Facebook “f” icon. Google Google “G” icon. Linked In Linked In “in” icon. Logout Icon representing logging out. Profile Icon representing a human head and shoulders. Phone Traditional telephone receiver icon. Check Tick mark icon. Publish Human eye and eyelashes icon. Private Human eye and eyelashes icon with a line through it. Pause icon Two-line pause icon to stop a conversation. Quotation Mark Open quotation mark. Quotation Mark Closing quotation mark.…
Editor's note: REM has reached out to MREB for more information regarding SGM, its findings, and the decision to move forward with the Cornerstone merger. As of this writing, we have not heard back. We will add any information we receive here. On Monday, July 1, Cornerstone Association of Realtors (Cornerstone) began operations. This follows a special general meeting (SGM) held by the Mississauga Real Estate Board (MREB) on June 26th, where the association voted in favour of terminating its merger with three other Ontario associations as Cornerstone. The vote to overturn SGM's decision did not block the merger. But…
After analysing the first quarter, the outlook for the commercial real estate sector is mixed but there is optimism about property supply and an increase in demand is predicted for the sector in the near future. NAEA Propertymark commercial members were asked to comment on the levels of demand and supply within the sector over the next 12 months, with 50 per cent anticipating an increase in supply and around a third predicting a corresponding increase in demand. Property agent membership organisation PropertyMark says its latest Q1 2024 commercial outlook contains a range of figures that paint a mixed picture…
(From a recent article in the Irish Times)(https://www.irishtimes.com/property/commercial-property/2024/06/12/could-blockchain-technology-be-applied-to-real-estate-investment/) Blockchain technologyThe world of Bitcoin and blockchain continues to evolve and grow, fascinating and sometimes intimidating. A milestone was reached in January when U.S. financial regulators approved the first Bitcoin ETF (exchange-traded fund), a long-established standardized investment vehicle that gives investors independent exposure to the asset. Through an ETF, U.S. investors can gain exposure to Bitcoin using a regulated broker, without having to buy and store Bitcoin themselves.Tokenization of all financial assets…With a clear regulatory framework in place, trusted fund platforms are jumping on the bandwagon. Firms such as BlackRock and Fidelity…
Police Officer. Alexandria: I had the opportunity to speak with his gym and church family. This is a devastating shock to this area. But they are doing what they can to make sure the legacy he left behind is remembered. >> He left behind a community that loved him so much. >> When this news broke, people were hoping and praying that it wasn't him. >> CJ was passionate about the CrossFit community. He was always there to help out in any way he could. >> We were stacking plates. Just stacking them and they would get messy. So he…