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☆ As weddings become more expensive, guests are paying more in costs as well
▼ + stars: | 2024-11-16 | by ( Leah Asmelash | ) edition.cnn.com time to read: +12 min

As an unwed woman and frequent wedding guest in 2024, I am maybe too attuned to the ways weddings have become increasingly extravagant. On Reddit, one user noted that being a bridesmaid in her best friend’s wedding in a Scandinavian town, where the friend’s family is from, is going to run her $8,000. And some guests are being denied plus-ones, making attending the wedding less of a joy and more of a dutiful chore. Even in times of high inflation, like now, while some may try to cut back, expensive weddings prevail. Weddings are the rare time in life where everyone you care about will likely come together — friends, family and loved ones.

Persons: Rutherford B, Hayes, Lucy Webb, Webb, Katherine Jellison, ” Jellison, I’ll, I’ve, I’m, ”, weren’t, Jellison, “, you’re, there’s, We've, DP, Anni Jones, “ We’ve, Styles, Nova Styles, ” Nova, ” Reemo, –, influencers –, It’s, Taylor Alxndr, Aurie Singletary Taylor Alxndr, Alxndr Organizations: CNN, Ohio University Locations: Cincinnati, Greece, ”, Prague, y’know, Manhattan, New York, Atlanta

Earnings season is in full swing, and some names reporting this week are positioned for major moves. So far, 37% of those in the broad market index have reported this quarter, resulting in what has been a mixed reporting period. According to LSEG, earnings have come in 6.1% above expectations, while revenue is 1.5% higher, as of Monday. Last week, the stock advanced more than 1% on Wednesday due to JMP Securities upgrading it to market outperform from market perform. The financial services provider has jumped around 52% over the past three months and more than 41% over the past month.

Persons: Andrew Boone, Greenlight Capital's David Einhorn, Einhorn, Kamala Harris, Donald Trump Organizations: Dow Jones, Apple, CNBC Pro, Securities, Robin Hood Investors Conference, U.S, Technologies

☆ This is why David Einhorn thinks Peloton could be worth five times what it is now
▼ + stars: | 2024-10-25 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

The first page of the deck was titled "15 minute 'Stock Pitch Ride'" and shows an image of Einhorn on a Peloton bike. Greenlight Capital's David Einhorn thinks Peloton could trade as high as $31.50 a share if the company slashes costs, which could double its current adjusted EBITDA projections, CNBC has learned. And Adidas has 8 times more sales than Peloton and an order of magnitude more product lines." In August, Peloton said it expects it can post adjusted EBITDA of between $200 million and $250 million in fiscal 2025. "The nice part of our thesis is that we don't have to convince Peloton this is the right approach," said Einhorn.

Persons: Einhorn, Einhorn pedaled, Greenlight Capital's David Einhorn, Bill Ackman, Robin Hood, Richard Buery —, Karen Boone Organizations: Robin Hood Investors Conference, Wednesday, CNBC, Spotify, Netflix, Adidas, Companies Locations: EBITDA

☆ When a millennial moved to Detroit from SF, he bought a home and opened a coffee shop. He said that would have been impossible on the West Coast.
▼ + stars: | 2024-09-28 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

David Valdez, 35, moved to Detroit from San Francisco in 2018. Valdez moved to Detroit for better job opportunities and to be with his partner, Juna Durrant, who is from Michigan. In San Francisco, Valdez said he worked two jobs and lived with roommates just to get by. At the time, Valdez worked at various cafés in Detroit, including Astro, a coffee shop in the historic Corktown neighborhood. "If I stayed in San Francisco, I wouldn't even begin to try to open a coffee shop," Valdez said.

Persons: David Valdez, he's, Valdez, —, I've, Juna Durrant, Durrant, Detroit Valdez, San, California Valdez, refinanced Organizations: Service, Census Bureau, Starbucks, Astro, Business, David Locations: Detroit, San Francisco, Michigan, California, Mexico City, Alba, Mexican, David Valdez, ProsperUs, Corktown

☆ It will take more than just a drop in interest rates to save the housing market
▼ + stars: | 2024-09-23 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

But while lower mortgage rates may translate to more buying power for homebuyers, America’s housing market woes aren’t likely to be solved solely by rate cuts. But Enterprise Community Partners, the nonprofit where Donovan currently serves as CEO, estimates that the US needs 7 million new units in order to stabilize the housing market. “There are a lot of factors that have affected the housing supply and these are complicated issues to solve. “We’re not expecting mortgage rates to fall that much further, and we still think that the mortgage rate ‘lock-in’ effect will still be there,” Dougherty said. “Things will probably pick up as rates come down, but we’re not looking for a high-octane rebound,” Dougherty said of the housing market.

Persons: they’d, aren’t, ’, ”, Shaun Donovan, Kamala Harris, Donald Trump, ” Donovan, Harris, Trump, Donovan, Jerome Powell’s, Freddie Mac, Charles Dougherty, That’s, “ We’re, ” Dougherty, ” Powell, that’s, Dougherty, “ It’s, ” Ryan McLennan Organizations: CNN, Housing, Urban Development, National Association of Realtors, Partners, Federal, Fed, National Association of Home Builders, homebuilders, Consumer Financial Locations: America, Wells Fargo, Houston, homebuying

☆ You can't always refinance a mortgage to capitalize on lower rates: Here's when a lender may say 'no'
▼ + stars: | 2024-09-23 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Otherwise, your lender might not approve your mortgage refinance, experts say. A change in your financial situation, like a layoff or lower income, or higher debt, could mean you don't qualify. "Your mortgage rate and whether or not you get approved for a loan or refinance ... depends on you," said Channel. You refinanced recently Technically, there are no hard limits on how many times you can refinance your mortgage, Channel said. It may be in your best interest to only consider a mortgage refinance every few years, if your financial situation has changed or if rates are falling "really dramatically," Channel explained.

Persons: Cohn, haven't, refinanced, you've

The Federal Reserve cut interest rates in its September meeting. With inflation starting to level off and the Fed cutting interest rates in its September 18 meeting, many experts believe rates have only just started dropping. After all, lower rates help consumers save when they borrow money, but they also translate to lower rates on savings accounts and money market accounts. For example, borrowing money at lower rates can make it easier to purchase a home, finance a car, or start a business. Lower interest rates can also help potential homebuyers buy a pricier home, since less of the mortgage payment they qualify for goes toward interest each month.

Persons: It's, Jennifer Beeston, it's, Beeston, Stephen Kates, Cliff Ambrose, Ambrose, Lawrence D, doesn't, Holly Johnson Freelance, Holly Johnson, Johnson Organizations: Federal Reserve, Savings, Apex Wealth, U.S . News, Club Locations: RetireGuide, U.S

☆ The office market is in trouble. Lower interest rates might not be enough to save it.
▼ + stars: | 2024-09-15 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Read previewOffices have been the weak spot in the commercial real estate market since the pandemic gave rise to widespread remote work and caused companies to reassess how much space they need. The Federal Reserve's likely interest rate cut, expected at the end of its meeting on September 18, could give office owners some relief with lower interest rates when they refinance. But that doesn't mean they're in the clear, according to commercial real estate experts. Right now, most commercial real estate loans come from small, regional banks, but that could change. AdvertisementYet even with the weakness in the office market, lower interest rates are a net positive for the industry, economist Richard McGahey says.

Persons: —, Lisa Pendergast, Pendergast, Lisa Knee, Knee, It's, Richard McGahey, McGahey Organizations: Service, Business, CRE Finance

The average rate for a 30-year, fixed-rate mortgage dropped to 6.35% on August 29 from 6.46% a week ago, the lowest mortgage rates have been in 15 months, according to Freddie Mac. "I bought a house when [the mortgage rate] was 15% and then I refinanced." "No bank is ever going to give you a true no closing cost loan at the lowest possible rate. And buying with the goal of refinancing is always taking a gamble on mortgage rates, which comes with a certain amount of risk. Even though recent declines in mortgage rates may gain steam as the Fed lowers its benchmark rate, lower mortgage rates could also boost homebuying demand, which would push prices higher.

Persons: Freddie Mac, Jacob Channel, Dottie Herman, Douglas Elliman, I've, Melissa Cohn, William Raveis, Banks, Cohn, Keith Gumbinger, Michael Krowe, Krowe Organizations: Brigade, Getty, Federal, LendingTree, Fed, William Raveis Mortgage, HSH.com, Edelman Locations: New York

Market trends and data analysisTo get a better idea of whether you should sell now, get familiar with your local housing market. The best time to sell a house depends on your local market, but generally speaking, you'll find the following are true. This would provide steady monthly income and allow you to wait to sell until market conditions improve. You should consider local market conditions, your financial and personal needs, and larger economic conditions before you sell your house. To determine the best time to sell your house, look at local market trends, economic forecasts, and seasonal patterns.

Persons: they're, you'll, it's, we'll Organizations: Data, National Association of Realtors, Chevron Locations: Chevron

Navy Federal Student Loan AlternativesNavy Federal Student Loans vs. Ascent Student Loans ReviewNavy Federal Student Loans vs. Sallie MaeSallie Mae Graduate Student Loans have a late payment fee of 5% of the amount due, capped at $25. Read more about how we rate student loans »Navy Federal Credit Union Student Loan FAQsIs Navy Federal a trustworthy company? Are Navy Federal student loans federal or private? Navy Federal Credit Union student loans are private loans, not federal loans.

Persons: You'll, you'll, Sallie Mae Sallie Mae, Sallie Mae, Q Organizations: Federal, Navy Federal, cosigners, Navy Federal Credit Union, . Navy Federal Credit Union, Cons Navy Federal Credit Union Student, Social, Loan, Navy, Chevron, Federal Credit Union, Better, Bureau Locations: Chevron

☆ A 36-year-old who built a seven-figure net worth shares how she invested her money and her current portfolio
▼ + stars: | 2024-07-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

Courtesy of Tess WaresmithHer current portfolio: real estate, index funds, individual stocks, crypto, and cashWaresmith has continued to diversify her portfolio over the years. "But then there are other ways to diversify within the stock market and also outside the stock market. "I think there's a misconception around real estate investing that you have to have 300 units to be successful," she said. In her case, the first deal she did was "a total game changer and allowed me to invest more in the stock market. The stock market: index funds and individual stocksWaresmith prefers index funds because "it's such an easy way to get exposure to the whole stock market," but a small portion of her portfolio, less than 5%, is in individual stocks.

Persons: —, Tess Waresmith, Waresmith, Tess, Waresmith's, I've, she's, I'm, It's Organizations: Service, Boston University, Fortune, Business, BU, America Locations: New England, America, Tampa , Florida, Salem , Massachusetts, Tampa, Massachusetts

☆ Investors have lined up over $250 billion to scoop up distressed commercial real estate as pain in the sector continues
▼ + stars: | 2024-07-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Commercial real estate values have been on the decline in the US. Related storiesBanks, meanwhile, are quietly shedding exposure to commercial real estate debt. AdvertisementInvestors have been watching the commercial real estate industry since the pandemic when the work-from-home trend cleared offices of workers. Some real estate veterans are calling for a major correction in the industry. The commercial property sector, in particular, could see a wave of bankruptcies and properties with forced sales, according to Kiran Raichura, the deputy chief property economist at Capital Economics.

Persons: —, Banks, Goldman Sachs, Torsten Slok, Moody's, Kiran Raichura, Raichura Organizations: Service, Bloomberg, Business, Deutsche Bank, New York Times, Capital Economics Locations: North America, American

☆ It suddenly looks like there are too many homes for sale. Here's why that's not quite right
▼ + stars: | 2024-07-09 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +5 min

The housing market is just beginning to come out of its leanest few years in history. Inventory of both new and existing homes is finally rising, but there is something suddenly strange in the numbers: The supply of newly built homes appears to be way too high. The supply scenarioThere is currently a 4.4-month supply of both new and existing homes for sale, according to the National Association of Home Builders, or NAHB. In fact, there is now a nine-month supply of newly built homes for sale, nearly three times that of existing homes. The foundation of today's tricky numbersThis housing market is unlike any other because of economic forces unlike any other.

Persons: Jordan Vonderhaar, Robert Dietz, Homebuilders, Brandon Bell Organizations: National Association of Home Builders, Bloomberg, Getty, Housing, Federal Reserve, Builders Locations: San Marcos , Texas, Austin , Texas

☆ Should you sell your house now? The pandemic-driven boost to prices should last until at least 2026, according to Bank of America.
▼ + stars: | 2024-07-07 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

Housing prices around the country have been rising at a dizzying pace since the pandemic, increasing 6% on average in just the last year. With these rapid increases, homeowners can command a pretty penny in today's red-hot housing market. But according to Bank of America, there's still room for prices to go higher. AdvertisementBank of AmericaAlthough the Fed is expected to cut rates later this year, Bank of America doesn't foresee mortgage rates falling much in the near future. Prices could increase beyond 2026In this market, homeowners can take advantage of at least two more years of price appreciation.

Persons: —, there's, Michael Gapen, Gapen doesn't, Gapen, Millennials Organizations: Service, Bank of America, Business, National Association of Realtors

☆ 55% of Gen Xers regret not saving more for retirement—3 ways to start planning now
▼ + stars: | 2024-07-06 | by ( Jade Thomas | ) www.cnbc.com time to read: +4 min

More than half of Gen Xers say they regret not saving more for retirement. In fact, Gen Xers are at the perfect age to do just that, says Barry Glassman, a certified financial planner and founder and president of Glassman Wealth Services. Here are three things Gen Xers can start doing as soon as today to ease their retirement worries. Take care of expensive debtFor many Gen Xers, saving for retirement has been placed on the back burner as they juggle other expenses. Seventy-one percent of Gen Xers are homeowners, compared to a little over half of millennials at 52%, according to 2023 Redfin data.

Persons: Gen Xers, it's, Barry Glassman, Jason Stein, pare, Glassman, Xers, Stein, that's Organizations: Allianz, Wealth Services, Bluepoint Wealth Locations: California

☆ The real-estate market is in for sharp correction with losses that could take a decade to recover from, strategist says
▼ + stars: | 2024-07-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Give it another two or three years — that's when the real-estate market gets hit the most." The fallout in the commercial real-estate sector could meanwhile be more severe. But banks, bearing huge losses in their mortgage and commercial real-estate portfolios, will be more hesitant to lend, weighing on demand and causing real-estate prices to plunge. Advertisement"It's possible we'll see a 50% [correction] in some spots, but I would say somewhere around a 30% correction in real estate," Vermeulen said of real-estate investments. Those losses could take seven to 10 years to recover from, he said, because of the long nature of real-estate cycles.

Persons: —, Chris Vermeulen, who's, Vermeulen, — that's Organizations: Service, Traders, Business, Census, Challenger, Bloomberg, Fed, National Association of Realtors

☆ The real estate market is in for sharp correction with losses that could take a decade to recover from, strategist says
▼ + stars: | 2024-07-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Give it another two or three years — that's when the real estate market gets hit the most." Meanwhile, the fallout in the commercial real estate sector could be more severes. However, banks, bearing huge losses in their mortgage and commercial real estate portfolios, will be more hesitant to lend, weighing on demand and causing real estate prices to plunge. Advertisement"It's possible we'll see a 50% [correction] in some spots, but I would say somewhere around a 30% correction in real estate," Vermeulen said of real estate investments. Those losses could take seven to 10 years to recover from, he said, due to the long nature of real estate cycles.

Persons: —, Chris Vermeulen, Vermeulen, — that's, Vermueule Organizations: Service, Traders, Business, Census, Challenger, Bloomberg, National Association of Realtors

☆ Peloton staved off the cash crunch that threatened its business. Where does it go now?
▼ + stars: | 2024-07-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

Before the refinancing, Peloton would have needed to pay around $800 million toward its debt by November 2025. Now that it has refinanced, Peloton has eased investor concerns about liquidity and has the breathing room it needs to try to turn around its business. Peloton faces risks aheadWhile the refinance may have bought Peloton some time, it's far from a panacea. Under the terms, Peloton will now be spending about $133 million annually in interest, up from around $89 million previously. As of the end of March, Peloton had about 6.6 million members — woefully behind that long-term target.

Persons: Michael Nagle, JP Morgan, Goldman Sachs, hasn't, Liz Coddington, Coddington, Evan DuFaux, Soros didn't, Neil Saunders, Barry McCarthy's, Karen Boone, Chris Bruzzo, Scott Stuart, Simeon Siegel, Siegel, John Foley, McCarthy, —, McCarthy – Organizations: Interactive, Bloomberg, Getty, CNBC, Soros Fund Management, Silver Point, GlobalData, Netflix, Turnaround Management Association, BMO Capital Markets, Spotify Locations: New York

☆ Thousands of homeowners with adjustable-rate mortgages are about to get slammed with higher monthly payments
▼ + stars: | 2024-07-01 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

Unlike the more popular fixed-rate mortgage loans, ARMs can offer temporary relief for homebuyers who want to avoid paying higher mortgage rates — however, they also come with risk. That means when mortgage rates increase, many ARM loan holders, like Hernandez, experience the unpleasant shock of significantly higher monthly home payments. Mortgage rates have remained elevated, adding fuel to one of the most unaffordable housing markets in decades. To Hernandez, it made little sense to refinance the loan while the 30-year fixed mortgage rate remains higher than her new adjusted rate. Marquis said that taking out an ARM loan might be worthwhile for those with a higher risk appetite.

Persons: Jennifer Hernandez, Houston, Hernandez refinanced, homebuyers, , Hernandez, Lorriane Jones, “, blindsided, ”, I’ve, “ I’ve, ” Andrew Marquis, ” Marquis, Marquis, hasn’t, “ I’m Organizations: CNN, ARM, Intercontinental Exchange, ICE, Mortgage, Association, Federal Reserve Locations: Southern California, Lexington , Massachusetts

☆ CNBC's Inside India newsletter: India Inc might not even need a Fed rate cut — but it wants one
▼ + stars: | 2024-06-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

The big storyEmerging markets have been on tenterhooks for the better part of this year as the Federal Reserve has been dangling the prospect of an interest rate cut. Historically, as U.S. interest rates fall, the allure of the mighty dollar fades to the benefit of other currencies. Indeed, unlike most developed economies, India's interest rate regime in 2024 isn't any different from that of 2018. There lies the disconnect between the economy, the stock market, and a single stock. Non-bank lender Akme Fintrade India and engineering firm DEE Development Engineers will debut on the stock market on Wednesday.

Persons: Sumant Sinha, we've, Sinha, It's, Fitch, Rahul Jain, Goldman Sachs, Jake Sullivan, Modi, Narendra Modi, CNBC's Charmaine Jacob, Raamdeo Agrawal, CNBC's Tanvir Gill, Jain Organizations: Bloomberg, Getty, Federal Reserve, India Inc, Nasdaq, Reserve Bank of, U.S, Societe Generale, Goldman, Clean Energy, CNBC, Motilal Oswal Financial Services, of India, Bangladesh, Australia, DEE Development Engineers Locations: Tuticorin, India, Reserve Bank of India, Japan, Britain, Delhi

☆ Ancient beach destroyed by Mount Vesuvius eruption in AD79 reopens after restoration
▼ + stars: | 2024-06-19 | by ( Sharon Braithwaite | ) edition.cnn.com time to read: +2 min

CNN —An ancient beach that was destroyed by the eruption of Mount Vesuvius nearly 2,000 years ago has reopened to the public after restoration works. It reopened to the public Wednesday following years of archaeological excavations and restoration works, during which human remains and other evidence of the eruption were discovered. A view of the ancient beach, with the skeletons of the fugitive victims of the eruption of Vesuvius in 79AD, open to the public for the first time. “Herculaneum, Pompeii, Oplontis: we are working on many projects”, the Italian Minister of Culture Gennaro Sangiuliano said Wednesday. Because we are convinced that this will represent a opportunity for socio-economic development,” he added.

Persons: Pliny the Elder, Francesco Sirano, Marco Cantile, Gennaro Sangiuliano, ” Organizations: CNN, “, UNESCO Locations: Vesuvius, 79AD, Herculaneum, Oplontis, Italian

☆ More millennials are financially secure than you think, and some are stepping in to support parents and older family members
▼ + stars: | 2024-06-17 | by ( Sophia Acevedo | ) www.businessinsider.com time to read: +5 min

Younger generations sometimes rely on family for financial support, but the opposite is also true. Gomez liquidated his assets and gave money to his dad to help pay off the loans. Hughes also sets aside some money each year for a fund to help other family members. "I would fund an account at the beginning of the year, and then if anyone in the family asked me to borrow money, it would come out of the family fund," Hughes said. "If they paid it back, it would go back into the family fund," Hughes said.

Persons: Millennials, —, Zers, they're, Jose Gomez, Gomez, Steven M, Hughes, he's, Z, Britni, Cartwright, wasn't, She's Organizations: Service Locations: United States

☆ Homebuyers take on 'a lot more than a mortgage payment,' expert says — 'hidden costs' average $18,000 a year
▼ + stars: | 2024-06-11 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

"Homebuyers have to make a compromise along the way, and often it's the age or the condition of the home," she said. The survey found that the median age of owner-occupied homes in the U.S. is about 40 years old. A mistake, however, is spending your entire reserve of savings for the down payment and ending up "house poor," Ostrowski said. In 2023, 46% of homeowners used cash from savings to cover home improvement projects, according to Angi.com. On average, there are three offers for every home that's listed for sale, Lautz said.

Persons: Jessica Lautz, Lautz, Ostrowski, you've, They're, who's Organizations: National Association of Realtors, Survey, U.S . Census Locations: U.S

☆ Home equity is near a record high. Tapping it may be tricky due to high interest rates
▼ + stars: | 2024-06-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

But tapping it may be tough due to high interest rates, according to financial advisors. Reverse mortgageA reverse mortgage is a way for older Americans to tap their home equity. A reverse mortgage is likely best for people who have much of their wealth tied up in their home, advisors said. A home equity conversion mortgage (HECM) is the most common type of reverse mortgage, according to the Consumer Financial Protection Bureau. watch nowA reverse mortgage is available as a lump sum, line of credit or monthly installment.

Persons: Selma Hepp, Hepp, Lee Baker, Atlanta . Baker, Kamila Elliott, Grace Cary, Elliott, Baker, Alexander Spatari, Cash Organizations: Getty, Apex Financial Services, Collective Wealth Partners, Consumer Financial, Bureau Locations: Cultura, Atlanta .

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