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Mortgage interest rates have moved lower amid signs that persistently high inflation may be starting to cool. The 10-year Treasury yield fell following the release of this data, and mortgage rates followed suit. Once inflation slows enough that the Federal Reserve is able to start lowering the federal funds rate, mortgage rates and other consumer rates should trend down. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: of Labor Statistics, Treasury, Federal Reserve, Investors, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ China retail sales, investment data miss expectations in April
▼ + stars: | 2024-05-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — China reported data Friday that pointed to slower growth on the consumer side while industrial activity remained robust. Retail sales rose by 2.3% in April from a year ago, the National Bureau of Statistics said. That was less than the 3.8% increase forecast by a Reuters poll, and slower than the 3.1% pace reported in March. But fixed asset investment rose by 4.2% for the first four months of the year, lower than the 4.6% expected increase. Statistics bureau spokeswoman Liu Aihua pointed out that last year, the multi-day May 1 Labor Day holiday had included two days in April.

Persons: Liu Aihua, Liu Organizations: National Bureau of Statistics, China's Ministry of Commerce, Labor, Statistics, Oxford Locations: Huai'an, China, BEIJING — China

☆ China Says It Will Start Buying Apartments as Housing Slump Worsens
▼ + stars: | 2024-05-17 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: 1 min

Chinese officials signaled their growing alarm over the country’s worsening real estate market on Friday, unveiling a plan to step in to buy up some of the vast housing stock and announcing even looser rules for mortgages. The flurry of activity came just hours after new economic data revealed that Chinese authorities are staring at a hard truth: No one wants to buy houses right now. Policymakers have tried dozens of measures to entice home buyers and reverse a steep decline in the housing market that has shown few signs of recovering soon. On Friday China’s vice premier, He Lifeng, indicated a shift in the government’s approach to dealing with a housing crisis that has prompted households to cut spending. He told policymakers that local governments could begin to buy homes to start dealing with the huge numbers of empty apartments.

Persons: Lifeng

The question for some of us is, why some people want to keep working decades beyond retirement age? CNN Opinion editor Stephanie Griffith asked seven people who are past the conventional retirement age why they are still at the job and got as many responses as there were respondents. They continue to work happily and productively, and were happy to explain to us how and why they do it. Over the years I’ve had to adapt frequently to the changing technology, which isn’t always easy for someone my age. That may be the secret of working well past the time society tells us we’re supposed to retire.

Persons: CNN —, Howard Tucker, Tucker, he’ll, ” Tucker, Joe Biden, Donald Trump —, Trump, ageist, Biden, Stephanie Griffith, Vincent, Austin Tucker, I’ve, isn’t, “, Taylor Taglianetti, Gayle Fleming, it’s, I’m, —, Gayle Fleming Michael Ventura, Biden —, Charles Simon, Ana Marie Forsythe, Alvin, Ana Marie Forsythe Kyle Froman, — Joyce Trisler —, Joyce, She’d, Lester Horton, Alvin Ailey, Ailey, Ailey School Martha Graham, José Limón, Horton, don’t, Marjorie Perces, Cheryl Bell, didn’t, Babette Coffey, you’ve, you’re, David A, I, Pamela S, Donald Trump, Maggie Mulqueen, Alan Steele, Joan Steinau Lester, ”, Carole Johnson, — I’m, Octogenarians Organizations: CNN, Records, Biden, Vincent Charity Medical Center, Case Western Reserve University, St, AI Society, Computer, MSNBC, Society, Alvin Ailey School, Dance Media, Juilliard, Ailey School, Alvin, Alvin Ailey American Dance, Vassar College, Ailey, Horton Department, The New York Times, CBS, American, French Legion of, Social Security, Twitter Locations: Ohio, St, Cleveland, one’s, Seattle , Washington, Cambridge , Massachusetts, West, Horton, New York City, ”, Brookline , Mass, drmaggiemulqueen.com

☆ I have 2 men in my life, so I wear 2 rings
▼ + stars: | 2024-05-17 | by ( Stacy Brooks | ) www.businessinsider.com time to read: +4 min

But I also wear a white gold band on my right ring finger to celebrate my commitment to my longtime life partner. We got married a year later and exchanged wedding rings. I always tell people that if you know one person in a polyamorous relationship, you know one person in a polyamorous relationship. Stacy Brooks and her husband both wear wedding rings. We think of a wedding ring as something that symbolizes love and dedication to a relationship that you want to last for the rest of your life.

Persons: I'm, we've, He's, Stacy Brooks, didn't Organizations: Netflix

☆ China's property sector won't be a wealth creator moving forward, says KraneShares
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's property sector won't be a wealth creator moving forward, says KraneSharesXiaolin Chen, head of international at KraneShares, says China's real estate sector is in need of consolidation.

Persons: KraneShares Xiaolin Chen

☆ Personal Finance Tips 2024: Estate Planning
▼ + stars: | 2024-05-17 | by ( Sharon Epperson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPersonal Finance Tips 2024: Estate PlanningSenior Personal Finance Correspondent Sharon Epperson shares her personal finance tips for 2024 including the important of estate planning.

Persons: Sharon Epperson Organizations: Finance

☆ Lady Tilley Arnold is Benedict's new love interest on 'Bridgerton' season 3 — here's what to know about her, and if she's in the books
▼ + stars: | 2024-05-17 | by ( Olivia Singh | ) www.businessinsider.com time to read: +5 min

Benedict Bridgerton has a new love interest on season three of "Bridgerton" — a widow named Lady Tilley Arnold who's in no rush to remarry but is enjoying the company of the titular family's second-born sibling. AdvertisementLady Tilley Arnold doesn't appear in Julia Quinn's Bridgerton book seriesHannah New as Lady Tilley Arnold on season three, episode three of "Bridgerton." Hannah New as Lady Tilley Arnold and Luke Thompson as Benedict Bridgerton on season three, episode three of "Bridgerton." Does Benedict Bridgerton end up marrying Lady Tilley Arnold? Hannah New as Lady Tilley Arnold and Luke Thompson as Benedict Bridgerton on season three, episode three of "Bridgerton."

Persons: —, Benedict Bridgerton, Lady Tilley Arnold who's, Hannah New, Benedict, Luke Thompson, Tilley, Julia Quinn's, Lady Tilley Arnold doesn't, Julia Quinn's Bridgerton, Lady Tilley Arnold, Liam Daniel, Netflix Lady Tilley Arnold isn't, Lord Hawkins, she's, Hawkins, Lady Hawkins, Tilley's, Charlotte's, Golda Rosheuvel, Eloise Bridgerton's, Theo Sharpe, Sophie Beckett, Jess Brownell Organizations: Service, Business, Netflix, TV Locations: Mayfair

☆ The best and the worst sectors in the stock market in this recording-setting week
▼ + stars: | 2024-05-17 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market wrap: It's day two of muted action in the market, which was trading in a tight range on a light news day to close out the week. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, we're, OpenAI, Deere, Ralph Lauren, Jim Cramer's, Jim Organizations: CNBC, Tech, Devices, Broadcom, Nvidia, Microsoft, Palo Alto Networks, Palo, Walmart, TJX, Target, Williams, Coterra Energy, Jim Cramer's Charitable Locations: Palo Alto, Sonoma, Truist

☆ High-end real estate developer talks demand for ultra-luxury homes in Florida
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigh-end real estate developer talks demand for ultra-luxury homes in FloridaHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: CNBC Locations: Florida

☆ More and more stocks are joining the market's rally to new highs. Here's why and when to buy
▼ + stars: | 2024-05-17 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

The S & P 500 on Wednesday closed above 5,300 for the first time ever. The last time the S & P 500 Short Range Oscillator was this overbought was back in December. The upswing picked up after the S & P 500's most recent bottom on April 19 and pushed to this week's records. .SPX 1Y mountain S & P 500 - 1 year There is no telling whether the current overbought market will follow a similar pattern. Perhaps more telling, four of the bottom six sectors saw earnings estimates revised higher since the end of the first quarter.

Persons: Dow, Morgan Stanley, Stocks, it's, Rather, Jim Cramer's, Jim Cramer, Jim, Victor J Organizations: Federal Reserve, Palo Alto Networks, CNBC, Visitors, New York Stock Exchange, Blue, Bloomberg, Getty

☆ Why some investors are bullish on this asset class that's yielding over 6%
▼ + stars: | 2024-05-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Right now, securitized products in general look relatively cheap, said John Kerschner, head of U.S. securitized products and portfolio manager at Janus Henderson Investors. To meet this need, Janus launched its Securitized Income ETF (JSI) in November, which invests across the securitized space. JSI YTD mountain Janus Henderson Securitized Income ETF Collateralized loan obligations Another fund Kerschner manages is the Janus Henderson AAA CLO ETF . One way investors can get broad exposure to CMBS via BlackRock's iShares CMBS ETF . CMBS YTD mountain iShares CMBS ETF year to date However, Janus' Kerschner pointed out that all office work isn't going away.

Persons: Nick Travaglino, Nuveen, Travaglino, John Kerschner, Janus Henderson, Janus, Kerschner, Rick Rieder, I've, Rieder, CLOs, it's, isn't, Fannie Mae, Freddie Mac, Kershner, We're Organizations: Investors, Fund, Janus Henderson Investors, SEC, Janus Henderson AAA CLO, Bank of America, AAA CLOs, BlackRock AAA CLO Locations: CLOs, BlackRock, Moody's, CMBS, multifamily

☆ China moves to prop up real estate market
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina moves to prop up real estate marketCNBC's Eunice Yoon joins 'Squawk Box' to report on the recent announcement by China's central bank to boost their slumping property market

Persons: Eunice Yoon Organizations: China

☆ China pledges $42 billion in a slew of measures to support the struggling property sector
▼ + stars: | 2024-05-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

China announced "historic" steps to stabilize the crisis-hit property sector on May 17, 2024, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes. These and other measures announced Friday marked Beijing's latest efforts to address issues in the massive real estate sector. The real estate companies can then use funds earned from those sales to complete construction on other apartments, the central bank said. Pre-sold, unfinished homesFor years, many apartments in China tended to be sold before construction was finished. Nomura estimated last year there were around 20 million such pre-sold, unfinished apartments in China.

Persons: Zhu Ning, Tao Ling, Xiao Yuanqi, Larry Hu, Dong Jianguo, Lifeng, Zhu, Nomura Organizations: China, Nurphoto, Getty, Tsinghua University, People's Bank of China, National Financial Regulatory, Macquarie, CNBC, of Housing, Housing, Future Publishing Locations: BEIJING, Wanxiang City, Huai'an City, East China's Jiangsu, China

☆ No walk-ins allowed: What to know when touring the world’s best wine regions
▼ + stars: | 2024-05-17 | by ( Penny Sadler | Erica Lamberg | ) www.cnbc.com time to read: +6 min

Wine touring in the Old WorldFrance Of France's 11 wine regions, Bordeaux, Burgundy (or Bourgogne) and Champagne are the most eminent. The United States California is renowned for wine tasting, though almost every state in the continental U.S. has a wine region or wine tourism area. Visitors can drive between vineyards, bike the Napa Valley Wine Trail, or book a ride on the vintage Napa Valley Wine Train. Barossa is one of the older wine regions in Australia, with some 200 cellar doors within two hours of Adelaide. South Africa South Africa may be considered a new world wine region, but Constantia, a top destination for wine tasting, is centuries old.

Persons: meunier, Chateau Angelus, Viniv Bordeaux, Georges Gobet, Montagne, Kim Kulish, Margaret River, Wine, Joey Estate, River, Groot Organizations: Michelin, Viniv, Afp, Getty, UNESCO, Heritage, Montagne de Reims, Travelers, United, Wine, Sonoma, Australia Wine, Bloomberg Locations: Europe, United States, Australia, South Africa, Bordeaux, Burgundy, Bourgogne, Vin, Chateau, Saint Emilion, France, Champagne, Italy Tuscany, Italy, Tuscany, Chianti, Greve, Alba, Piedmont, United States California, Napa Valley, Napa, Texas, Washington , Oregon, Virginia, New York, Yarra, Victoria, Barossa, Adelaide, Perth, Yarra Valley, Melbourne, South Africa South Africa, Constantia, Groot Constantia, South, Cape Town

☆ 'Quiet wealth' takes on new meaning with super-private deals for mansions, art and classic cars
▼ + stars: | 2024-05-17 | by ( Robert Frank | ) www.cnbc.com time to read: +6 min

While public auction sales are declining in the art world, private sales — done behind closed doors between discreet buyers and sellers — are growing. Classic cars are also seeing a shift to private sales, especially with the most expensive and rare models. But its newly formed RM Sotheby's private sales division has seen its sales more than quadruple over the past four years, according to Shelby Myers, global head of private sales for RM Sotheby's. The rise in private sales for classic cars, art, real estate and other markets is being driven by social media, technology and cooling prices for collectibles. "They're leaving money on the table," said real estate broker Noble Black of Douglas Elliman.

Persons: Robert Frank, Phillips, Christie's, Mark Rothko, Ken Griffin, Ferraris, Shelby Myers, We've, Myers, Patrick Dovigi's, Steve Wynn, Thomas Peterffy —, Douglas, Ernie Carswell, Carswell, He's, Noble Black, Douglas Elliman Organizations: Christie's, CNBC, Sotheby's, Hamptons, Malibu , Bel Air, Beverly Locations: Sotheby's, Christie's, Manhattan, Malibu, Aspen, Palm, Manhattan's Greenwich, Palm Beach, Los Angeles, New York, Eastern, Palm Springs, Malibu ,

☆ New York crypto personality used 'Seinfeld' joke in fraud, feds reveal
▼ + stars: | 2024-05-17 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

"In the television show 'Seinfeld,' the character George [Costanza] falsely claimed to have interviewed for a job with the fictional company Vandelay Industries," the office noted. In the episode, the invariably hapless Costanza claims he was seeking a position as a latex salesman. Prosecutors said Sfraga promised victims investment returns as high as 60% in three months, but in reality used the money for his own benefit "to pay expenses, and to pay earlier victims and business associates." Sfraga, who lives in Brooklyn, pleaded guilty Thursday in Brooklyn federal court to wire fraud, prosecutors said. He faces a maximum possible sentence of 20 years in prison, in addition to being ordered to pay restitution of more than $1.3 million.

Persons: Thomas John Sfraga, George, Costanza, Sfraga Organizations: Vandelay Contracting Corp, Brooklyn U.S, Attorney's, Vandelay Industries, Prosecutors Locations: York, New York, Brooklyn

I asked a financial planner how I can grow my passive income since I can't work more in a week. It felt like the only way to continue to expand and earn more money would be to introduce passive income streams. But in 2024, I found myself eager to find a few new passive income streams. "Audit what you're already working with and see how you can turn it into a passive income stream." After a month, I was able to bring in $390 in passive income just through those ads.

Persons: —, I've, Jeff Rose, Rose, it's, It's, you've Organizations: Service

☆ Asia markets rise after Wall Street soars on soft inflation data; Japan GDP shrinks
▼ + stars: | 2024-05-16 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

The best-performing "Magnificent Seven" stock halfway through the second quarter is Google and YouTube owner Alphabet , up about 14.15%. All four are outpacing the S&P 500, which has risen about 2.1%. By contrast, Microsoft (+0.6%), Tesla (-0.7%) and Meta Platforms (-1%) are all trailing the S&P 500 in the second quarter. The best-performing sector this quarter is the S&P 500 Utilities, up 9.9% and more than twice as much as second-ranked S&P 500 Communication Services, higher by 3.9%. S&P 500 Information Technology (+2.8%) is also outperforming the S&P 500.

Persons: — Scott Schnipper Organizations: Apple, Nvidia, Microsoft, Communication, Real Estate, Health Care

☆ An early retiree shares the advice he received in his early 20s that helped him retire at age 48 — and how he invested his money to build a seven-figure portfolio
▼ + stars: | 2024-05-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

It aligned with the life-changing money advice he received from a boss in his early 20s. The stock market: from tech stocks to low-cost index fundsCooper's investment strategy has evolved over the years. AdvertisementTo lower his risk, "I am in the process of transitioning my portfolio to mostly low-cost index funds, which are very popular among the FI community." "They're all paid off and bring in about $65,000 a year in rent," he said, adding that they played an important role in his early retirement. Advertisement"I think the easier route is to invest in low-cost index funds," he said, noting that the playbook is much simpler.

Persons: —, Eric Cooper, I'd, Cooper, Cooper's, Roth Organizations: Service, Business, Roth IRA, FI Locations: Louisville, Egypt

☆ Take a look inside Morris-Jumel Mansion, a picturesque 18th-century estate in New York City once home to Aaron Burr
▼ + stars: | 2024-05-16 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Built in 1765, Morris-Jumel Mansion is the oldest surviving residence in Manhattan. George Washington spent time there during the Revolutionary War, and Aaron Burr married its owner. AdvertisementMorris-Jumel Mansion is the oldest surviving residence in Manhattan. The historic home was built in 1765 by Colonel Roger Morris, a Loyalist who returned to England when the Revolutionary War broke out. This story is available exclusively to Business Insider subscribers.

Persons: Morris, George Washington, Aaron Burr, —, Roger Morris, Stephen Jumel Organizations: Service, Loyalist, Business Locations: Manhattan, England, Harlem Heights, French

This means mortgage rates could start to go down more substantially as we approach the fall. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Nearly Flat (+0.02%)The average 15-year mortgage rate is 6.05%, just 2 basis points higher than last week. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: That's, you'll, It's, refinance Organizations: Federal, Federal Reserve, Zillow, FHA Locations: Chevron

☆ 3 ways to tap into your retirement fund early without paying a penalty, according to a certified expert
▼ + stars: | 2024-05-16 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

If you're thinking about early retirement but don't have a stash of cash, one option is to tap into your retirement fund. Under certain conditions, the Internal Revenue Service will allow withdrawals from an IRA or employer-sponsored retirement account before the retirement age without penalty for certain reasons. Before tapping a 72(t)Related storiesBlackston advises his clients to seek alternative options before resorting to Rule 72(t). But you can only tap into it through your current employer-sponsored retirement account, and your employer's program must allow for it. The upside is that it doesn't drain your retirement account and could last longer.

Persons: you'll, Drew Blackston, There's, SEPP, you've, Blackston, Tapping, it's, It'll Organizations: Pearl Wealth Group, Internal, Service, IRS

☆ Most luxury real estate buyers are using cash, says The Agency CEO Mauricio Umansky
▼ + stars: | 2024-05-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMost luxury real estate buyers are using cash, says The Agency CEO Mauricio UmanskyMauricio Umansky, The Agency founder and CEO, joins 'Fast Money' to talk trends in the luxury housing market.

Persons: Mauricio Umansky Mauricio Umansky Organizations: The Agency

☆ Billionaire real estate investor Frank McCourt wants to buy TikTok — but he's not interested in the algorithm
▼ + stars: | 2024-05-16 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Read previewReal estate mogul Frank McCourt is the latest person to raise his hand to try to acquire TikTok's US business. Related stories"We thought this was a really fantastic opportunity to accelerate the creation of an alternative internet," McCourt told the Associated Press. McCourt wants to change TikTok's basic business to an open-source model that allows users and creators more control over their data. McCourt told the New York Times that he doesn't want the algorithm. "We doubt very much that China would sell TikTok with the algorithm," McCourt told the Times.

Persons: —, Frank McCourt, McCourt, Kirkland, Ellis, TikTok, Forbes, Tim Berners, Lee, TikTok . McCourt, Eric Schmidt, Steven Mnuchin, he's Organizations: Service, Guggenheim Securities, Business, Associated Press, Liberty, Los Angeles Dodgers, Big Tech, New York Times, Times Locations: China

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