DIRS.INFO The most relevant business & tech news

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season. The average rate on a 30-year mortgage rose to 6.77% from 6.64% last week, mortgage buyer Freddie Mac said Thursday. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose this week, pushing the average rate to 6.12% from 5.90% last week. The average rate on a 30-year mortgage remains sharply higher than just two years ago, when it was 3.92%. The cost of financing a home has come down from its most recent peak in late October, when the average rate on a 30-year mortgage hit 7.79%, the highest level since late 2000.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s Organizations: ANGELES, Treasury, Federal Reserve, U.S Locations: U.S

LOS ANGELES (AP) — The average long-term U.S. mortgage rate eased this week, welcome news for prospective homebuyers as the spring homebuying season approaches. The average rate on a 30-year mortgage fell to 6.63% from 6.69% last week, mortgage buyer Freddie Mac said Thursday. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell this week, pulling the average rate down to 5.94% from 5.96% last week. The cost of financing a home has been mostly easing in the weeks since the average rate on a 30-year mortgage hit 7.79%, the highest level since late 2000. For now, the average rate on a 30-year mortgage remains sharply higher than just two years ago, when it was 3.55%.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s Organizations: ANGELES, Treasury, Federal Reserve, U.S, Fed, Wall, “ Locations: U.S

☆ Opinion | Why America Can’t Recover From That First Awful Covid Year
▼ + stars: | 2024-01-31 | by ( Eric Klinenberg | ) www.nytimes.com time to read: +1 min

Covid numbers recently climbed again. The U.S. Centers for Disease Control and Prevention once again reported monthly death tolls in the thousands. Mask mandates are back in New York City’s public medical facilities and nursing homes. The presidential race has kicked into gear and, just as in 2020, the stakes seem existential. Everything changed, and yet almost nothing changed at all.

Persons: I’m, I’ve, we’d, Joe Biden, Donald Trump, Daniel Presti Organizations: U.S . Centers for Disease Control Locations: New York, United States, Staten Island

☆ Apple Takes Messaging Crackdown to Customers’ Macs
▼ + stars: | 2024-01-26 | by ( Tripp Mickle | ) www.nytimes.com time to read: +1 min

When Apple blocked the Beeper Mini app last month from giving Android users access to the tech giant’s messaging service, Beeper encouraged customers to use their Mac computers instead to connect and continue sending messages. But in recent days, dozens of Beeper customers have reported that they no longer have access to Apple’s messaging service on their Android phones or their Mac computers. Several have called Apple’s customer support and been told that the company had revoked their Mac’s access to iMessage because of irregular activity. For Beeper customers, many of whom prefer Android devices to iPhones but favor Mac computers over PCs, Apple’s move shows just how far the company will go to maintain control over its services. In these instances, Apple cut off one of the services that it provided with its computers because it had objected to the way its customers used it.

Persons: Beeper, they’re, ”, Matvei Vevitsis, iMessages Organizations: Apple

☆ Mortgage rates drop to lowest level since May
▼ + stars: | 2024-01-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —After moving higher the past two weeks, mortgage rates fell this week, dropping to the their lowest level since May 2023. Mortgage rates remain more than a full percentage point lower than their highest levels of last year: 7.79%. However, he added, as more buyers come in off the sidelines attracted by lower rates, more pressure will be placed on already depleted inventory for sale. “In some markets, however, prices will rise much faster this year.”Still, lower rates can improve affordability by reducing the costs of financing a home. “On a loan to purchase a $400,000 home, a one percentage point decrease in mortgage rates can lead to a $250 drop in the typical monthly payment,” Sturtevant said.

Persons: Freddie Mac, who’ve, ”, Sam Khater, Freddie Mac’s, Lisa Sturtevant, Sturtevant, ” Sturtevant Organizations: DC CNN, “, homebuyers Locations: Washington, DC

The average rate on a 30-year mortgage dropped to 6.6% from 6.66% last week, mortgage buyer Freddie Mac said Thursday. The decline, which follows two weeks of increases, brings the average rate down to the lowest level it's been in since late May, when it was 6.57%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased this week, dropping the average rate to 5.76% from 5.87% last week. The decline in mortgage rates has followed a pullback in the 10-year Treasury yield, which lenders use as a guide to pricing loans. Still, at this point, economists generally predict the average rate on a 30-year mortgage going no lower than 6%.

Persons: Freddie Mac, Sam Khater, Freddie Mac’s Organizations: ANGELES, Treasury, Federal Reserve Locations: U.S

☆ Dividend stocks could see a revival in 2024
▼ + stars: | 2024-01-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Dividend stocks fell out of favor in 2023, even as all three major US indexes overcame regional banking turmoil, high interest rates and geopolitical tensions to notch double-digit returns. As interest rates rose to a 22-year high, investors favored bonds at attractive yields over riskier stocks offering smaller payouts. Some traders believe that dividend stocks could make a comeback this year. Larry Adam, chief investment officer at Raymond James, favors dividend stocks in sectors like tech and healthcare for their growth qualities, over traditionally defensive categories like utilities. His firm only invests in dividend stocks that have that growth component, he says.

Persons: ”, Morgan Stanley, Larry Adam, Raymond James, Adam, Elisabeth Buchwald, John Cochrane, Anna Bahney, Freddie Mac, who’ve, Sam Khater, Freddie Mac’s, Read Organizations: CNN Business, Bell, New York CNN, Mastercard, Companies, Hoover Institute, “ Locations: New York

☆ Mortgage rates inch up for the second week in a row, landing at 6.66%
▼ + stars: | 2024-01-11 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates ticked up this week for the second week in a row, but remain more than a full percentage point lower than their high last year. The 30-year fixed-rate mortgage averaged 6.66% in the week ending January 11, up from 6.62% the previous week, according to data from Freddie Mac released Thursday. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Lower mortgage rates expected to bring new inventoryWhile mortgage rates trending lower is welcome news for homebuyers, those in the market are still dealing with the double whammy of low inventory and high home prices that continue to rise. But, she added, the pace of mortgage rates declining is likely to be slower going forward than the dramatic nine-week drop at the end of 2023.

Persons: Freddie Mac, who’ve, ”, Sam Khater, Freddie Mac’s, That’s, Jiayi Xu, Xu Organizations: DC CNN —, “, Federal, Treasury Locations: Washington

The latest decline brought the average rate on a 30-year mortgage down to 7.22% from 7.29% last week, mortgage buyer Freddie Mac said Thursday. The average rate on a 30-year mortgage is now at the lowest level it’s been in 10 weeks, when it was 7.19%. “Market sentiment has significantly shifted over the last month, leading to a continued decline in mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. The average rate on a 30-year home loan climbed above 6% in September 2022 and has remained above that threshold since. The elevated mortgage rates and a near-historic-low supply of homes on the market have held back the housing market this year.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, “ Organizations: ANGELES, Mortgage Bankers Association, Treasury, Federal Reserve Locations: U.S

☆ Mortgage rates drop for fifth straight week
▼ + stars: | 2023-11-30 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

It’s the fifth straight week rates have moved lower. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. According to a forecast from Realtor.com, the average mortgage rate is projected to be 6.8% in the next year. “As mortgage rates are expected to remain elevated, current homeowners with low mortgage rates are expected to stay put, leading to a decline in for-sale inventory,” said Xu.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, “, Khater, Jiayi Xu, Xu, ” Xu, Joel Kan, ” Kan Organizations: DC CNN —, Inflation, Federal, Realtor.com, Treasury, Mortgage, Association Locations: Washington

☆ Mortgage rates fall for fourth week but stay above 7%
▼ + stars: | 2023-11-22 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Mortgage rates fell again in the most recent week, as inflation showed signs of slowing. It’s the fourth consecutive week of tumbling rates after rising for seven straight weeks. The average rate rose above 7% in mid-August and since then reached as high as 7.79% at the end of October. “In a few short weeks, mortgage rates have largely erased the sharp climb traversed in October,” said Danielle Hale, Realtor.com’s chief economist. Meanwhile, she added, existing home sales slid to their worst reading since 2010 as home prices rose and mortgage rates pushed the cost of buying even higher.

Persons: Freddie Mac, “, ”, Sam Khater, Freddie Mac’s, Danielle Hale, Hale, homebuyers, ” Hale Organizations: DC CNN — Locations: Washington

The latest decline brought the average rate on a 30-year mortgage down to 7.29% from 7.44% last week, mortgage buyer Freddie Mac said Wednesday. “In recent weeks, rates have dropped by half a percent, but potential homebuyers continue to hold out for lower rates and more inventory,” said Sam Khater, Freddie Mac’s chief economist. Political Cartoons View All 1265 ImagesThe average rate on a 30-year home loan climbed above 6% in September 2022 and has remained above that threshold since. Just four weeks ago, it averaged 7.79% — the highest average on record going back to late 2000. The average rate is now at the lowest level it’s been in nine weeks, when it was 7.19%.

Persons: Freddie Mac, “, ”, Sam Khater, Freddie Mac’s Organizations: ANGELES, Treasury, Federal Reserve Locations: U.S

☆ Mortgage rates fall for third straight week, bringing some homeseekers off the sidelines
▼ + stars: | 2023-11-16 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Mortgage rates have cooled in recent weeks as markets absorbed the latest economic indicators, including an improving inflation picture. “For the third straight week, mortgage rates trended down, as new data indicates that inflationary pressures are receding,” said Sam Khater, Freddie Mac’s chief economist. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “The gap between the 10-year Treasury yield and the 30-year fixed rate mortgage rate is historically around 180 basis points,” she said. “While the gap has narrowed somewhat, the 30-year mortgage rate remains 280 basis points higher than the bond yield.”By historical norms, she said, mortgage rates should be under 6.5%.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Price, Jiayi Xu, Jerome, Powell, ” Xu, Bob Broeksmit, Lawrence Yun, ” Yun, “, Lisa Sturtevant, ” Sturtevant Organizations: DC CNN —, Mortgage, Association, Federal Reserve, Treasury, Consumer, “, National Association of Realtors, Bright MLS Locations: Washington

☆ Mortgage rates plummet by largest amount in a year
▼ + stars: | 2023-11-09 | by ( Manav Tanneeru | Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Mortgage rates tumbled this week in the biggest one-week drop since last November. “Many consumers are feeling strained by the high cost of living, so unless mortgage rates decrease significantly, the housing market will remain stagnant.”The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. But while mortgage rates remain relatively high, the difference between rates now and what they were a year ago has narrowed, said Lisa Sturtevant, chief economist at Bright Multiple Listing Service. “We are in a new era for mortgage rates, where prospective homebuyers can expect rates to settle above 6%,” said Sturtevant.

Persons: It’s, Freddie Mac, ”, Sam Khater, Freddie Mac’s, Joel Kan, Jiayi Xu, Xu, Realtor.com, Lisa Sturtevant, Sturtevant Organizations: DC CNN —, “, Treasury, Mortgage, Association Locations: Washington

The decline brought the average rate on a 30-year mortgage down to 7.76% from 7.79% last week, mortgage buyer Freddie Mac said Thursday. As mortgage rates rise, they can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already out of reach for many Americans. The average rate on a 30-year home loan climbed above 6% in September 2022 and has remained above that threshold since. And higher yields on 10-year Treasurys tend to push up mortgage rates. The average rate was unchanged from last week at 7.03%.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, it’s, Lisa Sturtevant, Bob Broeksmit Organizations: ANGELES, Treasury, U.S, Federal Reserve, Bright MLS, ”, Treasury Department, Mortgage, Association, “ Locations: U.S

LOS ANGELES (AP) — The cost of financing a home surged again this week with the average long-term U.S. mortgage rate at its highest level since December 2000. The average rate on the benchmark 30-year home loan rose to 7.63% from 7.57% last week, mortgage buyer Freddie Mac said Thursday. The average rate rose to 6.92% from 6.89% last week. The average rate on a 30-year mortgage is now more than double what it was two years ago, when it was just 3.09%. The weekly average rate on a 30-year mortgage has remained above 7% since mid-August and is now at the highest level since Dec. 1, 2000, when it averaged 7.65%.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Bob Broeksmit Organizations: ANGELES, “, Mortgage, Association, ”, Treasury, U.S Locations: U.S

LOS ANGELES (AP) — The cost of financing a home surged again this week as the average long-term U.S. mortgage rate climbed to its highest level since December 2000, further dimming the affordability outlook for many would-be homebuyers. The average rate on the benchmark 30-year home loan rose to 7.49% from 7.31% last week, mortgage buyer Freddie Mac said Thursday. The average rate on a 30-year mortgage is now more than double what it was two years ago, when it was just 2.99%. The weekly average rate on a 30-year mortgage has remained above 7% since mid-August and is now at the highest level since Dec. 8, 2000, when it averaged 7.57%. Mortgage rates have been climbing along with the 10-year Treasury yield, which lenders use as a guide to pricing loans.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s Organizations: ANGELES, Mortgage, Association, Federal, Treasury, Federal Reserve, U.S Locations: U.S

☆ Mortgage rates climb to 7.49%, hurting home sales
▼ + stars: | 2023-10-05 | by ( Anna Bahney | ) edition.cnn.com time to read: +1 min

Washington, DC CNN —US mortgage rates climbed even higher this week, hitting 7.49% and pushing homeownership further out of reach for would-be homebuyers. “Unsurprisingly, this is pulling back homebuyer demand.”Mortgage rates have spiked during the Federal Reserve’s historic inflation-curbing campaign. The central bank has indicated it may keep rates higher for longer, due to stubborn inflation. That has pushed up the 10-year Treasury yield, a key benchmark for mortgage rates. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country.

Persons: homeownership, Freddie Mac, ”, Sam Khater, Freddie Mac’s Organizations: DC CNN, Federal, ”, Treasury, National Association of Realtors Locations: Washington

☆ Stevie Nicks finds ‘no reason’ to continue Fleetwood Mac without Christine McVie
▼ + stars: | 2023-10-04 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —As far as Stevie Nicks is concerned, Fleetwood Mac is no more. The singer talked to Vulture about the life and death of her best friend and bandmate, Christine McVie, who died in November 2022 at the age of 79 following a brief illness. “But when Christine died, I felt like you can’t replace her,” Nicks said. “When she died, I figured we really can’t go any further with this. There’s no reason to.”McVie wrote and/or performed several of Fleetwood Mac’s hits, including “Don’t Stop,” “Over My Head,” “You Make Loving Fun” and “Say You Love Me.”

Persons: Stevie Nicks, Fleetwood Mac, Christine McVie, Nicks, Fleetwood Mac ”, “, Christine, ” Nicks, ”, Taylor, ’, ” NIcks, ” McVie, Fleetwood Organizations: CNN Locations: Fleetwood

☆ China Eastern Airlines just made the biggest Comac C919 order ever, for 100 planes
▼ + stars: | 2023-09-28 | by ( ) edition.cnn.com time to read: +2 min

Beijing Reuters —China Eastern Airlines said on Thursday it will buy another 100 C919 airplanes in a deal worth $10 billion at list prices, in what would be the largest ever order for the jet made by the Commercial Aircraft Corporation of China (COMAC). The list price for the C919 is $99 million but aircraft can be sold at discounts of up to 50%, especially for new models. The deal comes five months after the Chinese passenger plane, developed by state-owned COMAC to rival Airbus’ A320neo and Boeing’s (BA) 737 MAX single-aisle jet families, took its first flight in May with China Eastern. China Eastern will get delivery of five aircraft in 2024, while ten are to be delivered each year from 2025 to 2027. The deal includes 15 orders of COMAC’s ARJ21 aircraft and 15 of the C919.

Persons: Li Hanming, ” Li, “ COMAC, COMAC’s Organizations: Beijing Reuters, China Eastern Airlines, Commercial Aircraft Corporation of China, Airbus ’, China Eastern, Boeing Locations: Beijing, Shanghai, Washington, China, Brunei

☆ Google Says Switching Away From Its Search Engine Is Easy. It’s Not.
▼ + stars: | 2023-09-20 | by ( Brian X. Chen | More About Brian X. Chen | ) www.nytimes.com time to read: +1 min

But Google has argued that it’s easy for people to change their search engine — just as simple as putting a box of cereal back on the store shelf. The trial raises questions about how and why we use Google search. And even if we had known, would we have just stuck with Google since its search engine was set as the default? I decided to test how easy or hard it really is to switch to a different search engine. Harry Brignull, a user-experience consultant in Britain, concluded about Google search: “Most people will just stick with it.”

Persons: I’m, Ted Selker, Harry Brignull, ” Organizations: Google, IBM, Xerox PARC Locations: Britain

These are tough times for the housing market. Meanwhile on Wednesday, the Mortgage Bankers Association said mortgage applications have plunged 28% since last year and are now at the lowest level since late 1996. After two years of a pandemic-fueled housing market frenzy and another year of rising rates and tight inventory, consumers are weary. During the pandemic, as the Federal Reserve moved to lower interest rates, mortgage rates fell to 3% and below, prompting a wave of refinancings. “Mortgage applications declined to the lowest level since December 1996, despite a drop in mortgage rates,” said Joel Kan, deputy chief economist at the Mortgage Bankers Association.

Persons: Freddie Mac’s, ”, Lisa Sturtevant, ” Sturtevant, Joel Kan, Redfin, Niko Voutsinas Organizations: Mortgage Bankers Association, National Association of Home Builders, Housing, Bright MLS, “, Federal Reserve, Mortgage, Association Locations: Washington, Chicago

☆ US mortgage rates soar to 7.23%, a 22-year high
▼ + stars: | 2023-08-24 | by ( Anna Bahney | ) edition.cnn.com time to read: +1 min

Washington, DC CNN —US mortgage rates continued to surge this week, rising to their highest level since 2001. The 30-year fixed-rate mortgage averaged 7.23% in the week ending August 24, up from 7.09% the week before, according to data from Freddie Mac released Thursday. Indications of ongoing economic strength will likely keep mortgage rates where they are or send them higher in the short term, said Sam Khater, Freddie Mac’s chief economist. This week’s average rate is the highest the 30-year, fixed-rate mortgage has been since June 2001, when it was 7.24%. Mortgage rates have spiked during the Federal Reserve’s historic inflation-curbing campaign, sending home affordability to its lowest level in several decades.

Persons: Freddie Mac, Sam Khater, Freddie Mac’s Organizations: DC CNN Locations: Washington

☆ Mortgage rates rise to just short of 7%
▼ + stars: | 2023-08-10 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —US mortgage rates remained elevated this week, rising for the third week in a row, but stayed just under the market’s 7% threshold. The 30-year fixed-rate mortgage averaged 6.96% in the week ending August 10, up from 6.90% the week before, according to data from Freddie Mac released Thursday. “However, upward pressure on rates is the product of a resilient economy with low unemployment and strong wage growth, which historically has kept purchase demand solid.”The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Markets had been waiting for July’s inflation report, released Thursday morning, which showed consumer price hikes rose 3.2% annually, the first increase in 12 months. The Fed also will consider the forthcoming August employment and inflation data prior to the next policy meeting, in September.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Jiayi Xu, Xu Organizations: DC CNN, Federal Reserve, Index, Fed Locations: Washington

☆ Mortgage rates climb, edging closer to 7%
▼ + stars: | 2023-08-03 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —US mortgage rates jumped this week, climbing closer to 7%. “This development, along with upcoming employment and inflation data, will determine how much mortgage rates may rise in the short term.”Should employment and inflation pick up steam, she said, mortgage rates are likely to continue climbing as markets anticipate further monetary tightening. Mortgage rates tend to track the yield on 10-year US Treasuries, which move based on a combination of anticipation about the Fed’s actions, what the Fed actually does and investors’ reactions. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Many homeowners held off on listing their home for sale, largely in response to today’s high mortgage rates, Jones said.

Persons: Freddie Mac, Fannie Mae, ”, Sam Khater, Freddie Mac’s, Hannah Jones, Jones, ” Jones, “ Organizations: DC CNN, Federal Reserve, Fitch, U.S, Realtor.com, US Treasury, Treasury Locations: Washington, “

Search resuls for: "Mac’s"

25 mentions found