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Mortgage rates have increased over the last couple of weeks as markets adjusted to the expectation that the Federal Reserve won't be cutting rates this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

☆ Serbia to buy loitering munitions from UAE, invest in military industry -president
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

"Within the next 48 hours, we will sign the contract (for the munitions)," President Aleksandar Vucic said on Tuesday while visiting a defence exhibition in the UAE's Abu Dhabi. "These are suicide drones and they will be in Serbia, and we are hoping to have the first domestic suicide drones in the Serbian army within five or six months," he told reporters in remarks carried live by Serbian television. Vucic did not specify how many loitering munitions Belgrade would obtain from the UAE, their price, or the manufacturer. Vucic said on Monday Serbia wants to bolster its military and defence industry by investing an additional 700 million euros ($746.62 million) through 2023. Last year, Vucic said Serbia wanted to purchase Rafale multipurpose fighter jets from France.

☆ South Korea's new 'stealthy' fighter jet just hit a supersonic milestone
▼ + stars: | 2023-02-17 | by ( Maya Carlin | ) www.businessinsider.com time to read: +4 min

South Korea's KF-21 Boramae "Fighting Hawk" made its first supersonic flight in January. Roughly 65% of the KF-21's parts are domestically produced, a major feat for South Korea. Positioned near the PRC and the Hermit Kingdom, South Korea considers aerial-defense capabilities to be paramount to its security. ReutersDespite its advanced electronics capabilities, Seoul refers to its KF-21 fighter as a 4.5-generation fighter. The Boramae's recent test flight makes Seoul the eighth nation to produce a supersonic fighter.

☆ Exclusive: UAE's Jaber says keeping 1.5 Celsius goal 'alive' is top priority for COP28
▼ + stars: | 2023-02-15 | by ( Maha El Dahan | ) www.reuters.com time to read: +4 min

Jaber's appointment fuelled activist concern that big industry was hijacking the world's response to the global warming crisis. "I have no intention whatsoever of deviating from the 1.5 goal," Jaber said in his first interview since being assigned the role. "Keeping 1.5 alive is a top priority and it will cut across everything I do." As COP28 president, Jaber will help shape the conference agenda and intergovernmental negotiations. "How about for once we capitalise on everybody's capabilities and strengths and fight climate change rather than going after each other," he said when asked about the criticism.

☆ Oil prices slide as the US says it will sell millions more barrels of oil from its strategic reserve into the global market
▼ + stars: | 2023-02-14 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Oil prices fall Tuesday after the US said it plans to sell more oil from the Strategic Petroleum Reserve. The Energy Department will start the sale of 26 million barrels of sweet crude in April. Brent crude oil, the global benchmark, fell 1.5% to $85.40 a barrel but was off lows of the session. The drop in oil prices Tuesday was also taking place as US consumer price inflation data showed prices eased in January, but it was by less than anticipated. OPEC, meanwhile, on Tuesday, raised its 2023 oil demand forecast by 100,000 barrels per day, to 2.3 million barrels, as China reopens its economy after strict COVID-related restrictions.

[1/2] The main deck of the Floating Storage and Regasification Unit (FSRU) "Neptune" is seen during the official commissioning of the liquefied natural gas (LNG) terminal "Deutsche Ostsee" at the harbour in Lubmin, Germany, January 14, 2023. John Macdougall/Pool via REUTERSLONDON/FRANKFURT, Feb 9 (Reuters) - Germany and Oman are in advanced talks to sign a long-term deal for liquefied natural gas (LNG) lasting at least 10 years as Berlin continues its search for alternatives to Russian fuel supplies, three sources familiar with the matter said. Europe has been scrambling to replace Russian gas since last year against a backdrop of war in Ukraine, with state-run Gazprom (GAZP.MM) progressively reducing and then suspending the lion's share of pipeline supplies to Europe. Germany has been holding talks for months with the world's biggest LNG producer Qatar for additional supplies, but negotiations have been lengthy. While supply deals with Qatar would be positive for Germany, they would not offer an immediate solution to Berlin's energy crisis.

☆ European shares hit fresh nine-month high on earnings boost
▼ + stars: | 2023-02-09 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) was up 0.8% at 0920 GMT, extending gains for a third straight session. Shares of Sweco AB (SWECb.ST), a Swedish construction and engineering company, jumped 11% to top the STOXX 600 following its upbeat fourth-quarter earnings. An over 5% gain in AstraZeneca (AZN.L) on 2023 earnings and revenue growth forecast boosted the healthcare sub-index (.SXDP). Of the 93 STOXX 600 companies that have reported earnings so far, more than half have beaten market expectations, Refinitiv data showed on Tuesday. Signs of economic resilience and better-than-feared corporate earnings have helped European stocks outperform their U.S. counterparts so far this year.

☆ NBA roundup: Kyrie Irving leads Dallas to win in Mavs' debut
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +7 min

He added 11 assists and 10 rebounds. LaMelo Ball collected 16 points and six rebounds and Gordon Hayward added 15 points for the Hornets, who have lost five in a row. Fox (31 points, 11 assists) scored the final seven points for the Kings, who trailed 128-123 with 1:17 left. Martin added 15 points -- all in the first half -- and Jae'Sean Tate added 16 for the Rockets, who committed 13 of their 19 turnovers in the second half. Bojan Bogdanovic, Detroit's most prominent trade chip ahead of Thursday's deadline, led the Pistons with 15 points.

☆ Tech, housing, and manufacturing might already be in a recession. They could bring the US economy down with it.
▼ + stars: | 2023-02-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

But the tech, housing, and manufacturing industries might be already. "We have a manufacturing recession, a housing recession, a tech recession," she said in a Bloomberg post last week. In this scenario, parts of the economy would "take turns suffering rather than simultaneously" — and the broader economy would never reach recession status. There were over 55,000 reported tech layoffs during the first 20 days of January, more than the entire first half of 2022. It's led some to declare that a "tech recession" is already upon us.

☆ Affordability constraints continue to deter first-time home buyers, says Fannie Mae's Doug Duncan
▼ + stars: | 2023-02-02 | 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 EmailAffordability constraints continue to deter first-time home buyers, says Fannie Mae's Doug DuncanCNBC's Diana Olick and Fannie Mae's Chief Economist Doug Duncan join 'Power Lunch' to discuss the potential for a housing comeback, housing sector recession forecasts, and homebuilder stocks rallying this week.

☆ Abu Dhabi's IHC plans to invest $381 mln in Adani Enterprises
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Jan 30 (Reuters) - Abu Dhabi conglomerate International Holding Company (IHC.AD) on Monday said it would invest 1.4 billion dirhams ($381.17 million) in Adani Enterprises' (ADEL.NS) follow-on public offer. "Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders," IHC CEO Syed Basar Shueb said in a statement. IHC, Abu Dhabi's largest listed company, invested $2 billion in Adani Group companies last year, including Adani Enterprises. Adani Group has hit back at the report by Hindenburg Research published last week that flagged concerns about Adani Group's debt levels and the use of tax havens. Investors' response to Hindenburg's criticisms will be tested this week by Adani Enterprises' $2.5 billion follow-on share offering which closes on Tuesday.

☆ Beyoncé, a $100k-a-night suite and a red carpet of influencers: Dubai basks in its booming economy
▼ + stars: | 2023-01-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Beyoncé performs on stage headlining the Grand Reveal of Dubai's newest luxury hotel, Atlantis The Royal on January 21, 2023 in Dubai, United Arab Emirates. Mason Poole/parkwood Media | Getty Images Entertainment | Getty ImagesDUBAI, United Arab Emirates — It was the talk of the town. "Igniting the next chapter of the Atlantis legacy," Atlantis Dubai wrote in an official tweet along with a promotional video of the opening fireworks. Beyoncé performs on stage headlining the Grand Reveal of Dubai's newest luxury hotel, Atlantis The Royal on January 21, 2023 in Dubai, United Arab Emirates. "Dubai is also growing in prominence as a financial services hub as underscored by several hedge funds opening up offices there."

☆ NBA roundup: Mavs win game but lose Luka Doncic
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +5 min

Knicks 120, Celtics 117 (OT)Julius Randle scored 37 points and Jalen Brunson added 29 as New York came back to win in overtime in Boston. Brunson added four rebounds, seven assists and two blocks, rejecting Malcolm Brogdon's potential game-tying 3 at the buzzer. Jayson Tatum had 35 points and 14 rebounds while Jaylen Brown added 22 points in Boston's third straight loss. Zach LaVine had 18 points and nine rebounds, Patrick Williams posted 15 points in his hometown, and Nikola Vucevic (nine rebounds) and Ayo Dosunmu each had 12 points. Norman Powell added 15 points for Los Angeles, with Robert Covington scoring 13 and Reggie Jackson and Ivica Zubac contributing 12 and 11 points, respectively.

☆ Bahrain's crown prince calls Qatari emir in apparent step towards mending fences
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] Bahrain's Prime Minister and Crown Prince Salman bin Hamad al-Khalifa attends the inauguration of Exhibition World Bahrain at Sakhir Bahrain, November 21, 2022. BNA said that Bahrain's crown prince and prime minister, Prince Salman bin Hamad Al-Khalifa, had in the call with Qatari Emir Sheikh Tamim bin Hamad al-Thani "emphasised the importance of joint efforts to resolve all outstanding differences". "It was also agreed that officials from both countries will continue to communicate to achieve common goals," BNA said. Regional heavyweight Saudi Arabia has led efforts to rebuild ties with Qatar and, along with Egypt, re-established diplomatic relations. Bahrain, a Sunni Muslim-ruled monarchy with a restive Shi'ite population, has deep unease over Qatar's relations with Iran.

See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. Just keep in mind that HELOC rates are variable, so if rates start to trend up further, yours will likely increase, as well. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

☆ Davos 2023: Big oil comes in from the cold on energy transition
▼ + stars: | 2023-01-20 | by ( Maha El Dahan | ) www.reuters.com time to read: +6 min

CHINA OUT./File Photo/File PhotoSummarySummary Companies Energy transition front and centre at Davos meetingEurope energy crisis forces moment of reckoningClimate activists sceptical of oil industry inclusionDAVOS, Switzerland, Jan 20 (Reuters) - A different type of energy transition has taken place at this year's World Economic Forum (WEF) meeting. Unlike 2021's COP26 climate conference in Glasgow, where oil and gas executives were personae non gratae, fossil fuel chiefs and renewable energy bosses sat cheek by jowl in Davos. Thunberg's was not the only voice at Davos with strong objections to the industry's new mantra that the energy crisis justifies new oil investments. Like Birol, British opposition leader Keir Starmer said the oil and gas sector has a role to play in the energy transition. Jaber, who is the founding CEO of Abu Dhabi’s renewable energy firm Masdar and has overseen the UAE's mandate to adopt renewables is not without green credentials.

☆ Home prices and mortgages will stay high this year, but housing activity is set to cool further amid mild recession, Fannie Mae says
▼ + stars: | 2023-01-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

High mortgage rates and home prices will persist, but activity will slump amid a mild recession, Fannie Mae said. Mortgage rates have been influenced by the Fed's rate hikes, and rates could remain high this year. A 2008-style crash is unlikely, the mortgage giant said, predicting a steady decline in home prices over the next few years. Mortgage rates have eased slightly in recent weeks as the Fed dials back the size of its rate hikes, which have lowered interest rate volatility. In either case, we expect 2023 to be a slow year for the housing market," Fannie Mae's chief economist Doug Duncan said in a note on Friday.

☆ Dubai continues to benefit from crisis and the Russia-Ukraine war, Damac chair says
▼ + stars: | 2023-01-17 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

DUBAI, United Arab Emirates — Dubai's property sector is going from strength to strength, as growth and reform in the oil-rich Arab Gulf states attract more foreign residents, companies and investors. The hike can be partly attributed to the geopolitical crisis, which has benefitted Dubai and the United Arab Emirates. "So Dubai continues to benefit today from the Russian-Ukrainian war, unfortunately." Dubai was already seeing its hottest real estate market in years within the early months of the war. Sales in the sector rose 45% year-on-year in April 2022 and 51% in May, according to the Dubai Land Department.

☆ Pakistan PM Sharif offers talks with arch-rival India
▼ + stars: | 2023-01-17 | by ( Asif Shahzad | ) www.reuters.com time to read: +2 min

ISLAMABAD, Jan 17 (Reuters) - Pakistan Prime Minister Shehbaz Sharif has offered his Indian counterpart talks over all outstanding issues, including disputed Kashmir, which he believes could be facilitated by the United Arab Emirates (UAE). He can play a very important role to bring the two countries on the talking table," Sharif said. The two arch-rival nuclear powers have fought three wars since independence from British rule in 1947. Tensions rose high when India unilaterally revoked the autonomous status of its part of Kashmir later in 2019, which Sharif said resulted in "flagrant" human rights violations. Sharif said the wars between the two countries brought nothing except misery, poverty and unemployment.

CAIRO, Jan 15 (Reuters) - The United States and United Arab Emirates announced on Sunday that the first $20 billion of their $100 billion clean energy partnership would be allocated to fund 15 new gigawatts of renewable energy projects before 2035, state news agency WAM said. The investments would be led by UAE's Masdar and a consortium of US private investors, and financed through $7 billion in private sector cash equity and $13 billion in US debt financing and other instruments, WAM said. Reporting by Nayera Abdallah and Nafisa EltahirOur Standards: The Thomson Reuters Trust Principles.

☆ India, UAE close to deal on renewable electricity grid link, Indian minister says
▼ + stars: | 2023-01-15 | by ( Rachna Uppal | ) www.reuters.com time to read: +2 min

The OSOWOG initiative, first proposed by Indian Prime Minister Narendra Modi, aims to transfer renewable energy power through connecting grids. Singh said the UAE has also indicated it would like to invest more in India's renewable energy projects, including solar and wind. India and the UAE also signed a Memorandum of Understanding on Jan. 13 on green hydrogen development, produced using renewable energy, India's embassy in the UAE said on Twitter on Friday. "He (Jaber) is the point man for renewables, for climate change," the Indian minister said. Jaber is also the UAE's minister of industry and advanced technology and helped to establish Abu Dhabi's renewable energy firm Masdar in 2006.

ABU DHABI, Jan 14 (Reuters) - The United Arab Emirates wants the COP28 climate conference it is hosting this year to be practical and show solidarity between the global north and south that "leaves no one behind", the country's oil chief and designated COP28 president said. In a speech on Saturday to the Global Energy Forum, Sultan al-Jaber, head of state oil giant ADNOC and UAE climate envoy, called for scaling up renewables, nuclear energy, hydrogen, carbon capture, energy efficiency and new technologies, among others. The UAE, a major OPEC oil exporter, will be the second Arab state to host the climate conference after Egypt in 2022. "We need to ensure a just transition that leaves no one behind," he said, adding that low carbon growth was the future. Reporting by Rachna Uppal, Yousef Saba and Ghaida Ghantous Editing by Clarence Fernandez and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Sephora is dropping the beauty lines of TikTok stars Addison Rae and Hyram Yarbro
▼ + stars: | 2023-01-10 | by ( Madeline Berg | Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

Influencer brands Item Beauty and Selfless by Hyram are being pulled from Sephora. Addison Rae launched Item Beauty in 2020, while Hyram Yarbro launched Selfless in 2021. Insider has confirmed from a well-connected industry source that Sephora will be pulling Addison Rae's Item Beauty and Hyram Yarbro's Selfless by Hyram from its shelves. Item Beauty was launched in August 2020 by Rae, who shot to internet fame by replicating viral dances on TikTok. There are bright spots among celebrity-backed brands, like Selena Gomez's Rare BeautyThat isn't to say that all celebrity-founded beauty brands have fared poorly.

Conforming mortgage lenders will start using FICO 10T and VantageScore 4.0 scoring models to evaluate borrowers. These newer scoring models utilize alternative credit data, such as rent payment history, and use a trended data approach. But soon, lenders will be asked to start using two newer scoring models: the FICO 10T and the VantageScore 4.0. The FHFA describes these models as "more inclusive" than the FICO scoring models that lenders have been using for the last two decades. Currently, mortgage lenders pull credit reports from each of the three major credit bureaus and look at the scores on each of those reports.

☆ Consumer confidence in housing finally rises, thanks to falling home prices
▼ + stars: | 2023-01-09 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Mortgage rates are still twice what they were a year ago, but home prices have been falling since June, and that's finally making consumers feel better about what had been an overheated, highly competitive housing market. A monthly housing sentiment index from Fannie Mae showed sentiment improving from November to December. The share saying now is a bad time decreased. The share of respondents saying now is a good time to sell dropped to 51% from 54%, while the share saying now is a bad time to sell increased. More consumers now believe home prices will fall in the next 12 months, and more also said they believe mortgage rates will come down.

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