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Mortgage rates have started October significantly higher than they were a month ago. Last week, mortgage applications for home purchases dropped to their lowest level since 1995, the Mortgage Bankers Association reported on Wednesday. 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. 30-year Fixed Mortgage RatesThis week, the average 30-year fixed mortgage rate is 7.49%, according to Freddie Mac. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll Organizations: Federal, Mortgage Bankers Association, Zillow, Federal Reserve Locations: Chevron

☆ 45 US House Republicans seek to prevent another speaker ouster
▼ + stars: | 2023-10-06 | by ( David Morgan | ) www.reuters.com time to read: +3 min

WASHINGTON, Oct 6 (Reuters) - Forty-five allies of former U.S. House Speaker Kevin McCarthy are calling on their Republican colleagues for "fundamental changes" that would make it more difficult for a small faction to oust whoever may take his place. Many of the signatories have already called for changing a rule that allows a single lawmaker to force a vote to remove the speaker. Republicans are scheduled to vote for a nominee in a closed-door session on Wednesday, though it make take a while for them to settle on a candidate. House Republicans, it's time for you to do your job," Biden said at the White House. Representative Matt Gaetz, who led the effort to unseat McCarthy, now faces calls for his expulsion from the party conference.

Persons: Kevin McCarthy, McCarthy, Steve Scalise, Jim Jordan, Biden, Donald Trump, Sarah Silbiger, Kevin Hern, Jordan, we're, Joe Biden, Matt Gaetz, David Morgan, Susan Heavey, Doina Chiacu, Andy Sullivan, Howard Goller, Nick Zieminski Organizations: ., The U.S, Russell Senate, REUTERS, CNN, House Republicans, White, Democratic, Thomson Locations: Russell, Washington , U.S

☆ 45 U.S. House Republicans seek to prevent another speaker ouster
▼ + stars: | 2023-10-06 | by ( David Morgan | ) www.reuters.com time to read: +2 min

The U.S. Capitol dome is seen from the Russell Senate Office Building on Capitol Hill in Washington, U.S., April 19, 2023. Many of the signatories have already called for changing a rule that allows a single lawmaker to force a vote to remove the speaker. "We got all kinds of across-the-board support, and we're just going to keep working," he said on CNN. Representative Matt Gaetz, who led the effort to unseat McCarthy, now faces calls for his expulsion from the party conference. Reporting by David Morgan and Susan Heavey; Editing by Andy Sullivan and Howard GollerOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Silbiger, Kevin McCarthy, McCarthy, Steve Scalise, Jim Jordan, Biden, Donald Trump, Kevin Hern, Jordan, we're, Matt Gaetz, David Morgan, Susan Heavey, Andy Sullivan, Howard Goller Organizations: U.S, Russell Senate, REUTERS, Rights, ., Republicans, CNN, Democratic, Thomson Locations: Russell, Washington , U.S

To build good credit, pay bills on time, keep your credit utilization low, and reduce your debt. Gen Z is faced with paying back larger loans and more credit card debt, especially for those carrying a balance every month. Why good credit mattersGenerally, a good credit score falls between 670 to 739, according to the FICO model. The benefits of a good credit score include better approval odds when applying for a loan, credit card, or line of credit. Keep your credit utilization lowRemember, your credit utilization — the amount of available credit you are actually using — is one of the factors that determines your credit score.

Persons: —, Zers, it's, Gen Z, wouldn't, Gen Zers Organizations: Service, Federal Reserve, Self

The Blue Business® Plus Credit Card from American Express and The American Express Blue Business Cash™ Card are two great no-annual-fee business cards, but they usually don't come with welcome offers for new cardholders. With The American Express Blue Business Cash™ Card, you can earn unlimited cash back on your spending with no annual fee. Amex Blue Business Cash Card review External link Arrow An arrow icon, indicating this redirects the user." Blue Business Cash Card welcome bonus detailsThe American Express Blue Business Cash™ Card is the cash-back counterpart of The Blue Business® Plus Credit Card from American Express, earning 2% cash back on up to $50,000 in purchases each calendar year (then 1% back). Read our Amex Blue Business Cash card review for more details.

Persons: —, You've, you'll, APRs, Cash, you've, There's Organizations: American Express, Service, Express, Blue, Business, The

Mortgage rates have skyrocketed this week, with 30-year mortgage rates now well above 7% for many borrowers. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. 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. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.72% this week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased significantly in 2022.

Persons: homebuyers, Freddie Mac, it's Organizations: Zillow Locations: Chevron

☆ The author of 'I Will Teach You to Be Rich' says 'phantom costs' add 50% to the monthly expenses of owning a home
▼ + stars: | 2023-10-05 | by ( Jennifer Streaks | Sarah Silbert | Senior Personal Finance Reporter | ) www.businessinsider.com time to read: +4 min

AdvertisementAdvertisementRamit Sethi cautions that owning a home costs much more than just your monthly mortgage payment. "Phantom costs" like home insurance and maintenance can add up to 50% extra in monthly expenses. Run the numbers to determine if owning or renting is a better decision for your wallet right now. Ramit Sethi, author of "I Will Teach You to Be Rich", cautions potential homebuyers about the very real costs that come with owning a home. Sethi states, "because of these costs I add 50% per month to the cost of owning a home."

Persons: Ramit Sethi, —, We've, Rich, Sethi, we've Organizations: Service, homeownership Locations: New York

☆ Mortgage rates reach highest since November 2000 - MBA
▼ + stars: | 2023-10-04 | by ( Amina Niasse | ) www.reuters.com time to read: +2 min

REUTERS/Sarah Silbiger/File Photo Acquire Licensing RightsNEW YORK, Oct 4 (Reuters) - U.S. mortgage interest rates rose to the highest since November 2000 last week, helping to drive home loan application volumes to the lowest in 27 years, a report on Wednesday said. “Mortgage rates continued to move higher last week as markets digested the recent upswing in Treasury yields," said Joel Kan, the MBA's vice president and deputy chief economist. Yields on the 10-year Treasury note , which is the main benchmark for determining mortgage rates, have climbed to their highest since the global financial crisis, hitting 4.8% this week. Moreover, the spread between 10-year note yields and 30-year mortgage rates are near record-wide levels, which has also exacerbated the rise in borrowing costs for prospective homebuyers. Last week also marked the fourth consecutive week that mortgage rates rose.

Persons: Sarah Silbiger, Joel Kan, Kan, Amina Niasse, Andrea Ricci Organizations: REUTERS, Mortgage Bankers Association, “, Federal Reserve, Thomson Locations: Washington , U.S

Average 30-year mortgage rates have increased around 15 basis points compared to where they were this time last week. Mortgage Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. 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.

Persons: they've, Fannie Mae Organizations: Federal, Bureau of Labor Statistics, Zillow, Federal Reserve, Mortgage, Association, Sky, ARM Locations: Chevron

Check in on your retirement, credit, and healthcare and make any necessary adjustments. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Prepare for tax seasonMany people would prefer to avoid thinking about tax season until the deadline on April 15. These include mortgage interest, out-of-pocket medical expenses, state and local taxes, property taxes, and charitable donations to tax-exempt charities.

Persons: —, transpire, it's Organizations: Service

Among the best business credit cards, the American Express® Business Gold Card stands out as a top pick for big spenders. American Express® Business Gold Card Apply now lock icon An icon in the shape of lock. New American Express Business Gold card bonus categoriesThe American Express® Business Gold Card is adding the following categories to its list of eligible purchases for earning 4x points. Now, when you're approved for the American Express® Business Gold Card, you can choose between the classic gold design and a rose gold version. New Amex Business Gold benefits come with a higher annual feeUnsurprisingly, Amex is introducing these additional perks at a cost: Starting February 1, 2024, the American Express® Business Gold Card will have an annual fee of $375.

Persons: Amex, It's, who's, it's Organizations: American Express, Express, Amex, FedEx, Grubhub, Supply, Walmart, New, U.S . Transit, Paramount Locations: U.S, AmexTravel.com

Amex Member Week 2023 will offer eligible cardholders presale ticket access, special experiences, and more. To find the right Amex card for you, read more about our picks for the best American Express cards. American Express Member Week 2023 detailsTo take full advantage of Amex Member Week, you need to have an Amex card, such as The Platinum Card® from American Express, the American Express® Gold Card, or The Business Platinum Card® from American Express. Amex Member Week exclusives span a number of categories, from entertainment and live events to retail offers. They can receive up to $165 in total value when making select purchases from the following merchants:DocuSignHertzInstacart BusinessLowe'sSquarespaceProducts in this post: The Platinum Card® from American Express, American Express® Gold Card, The Business Platinum Card® from American Express

Persons: —, you'll, Amex, Olivia Rodrigo, Resy, Fermin Nunex, Matt Conroy, Isabel Coss, cardmembers, James Jarvis, DocuSign Organizations: Service, American Express, American, YouTube, Amex, Delta, Delta.com, Lufthansa, Qatar Airways, Regent Seven Seas, Seabourn, Bose Dell, DocuSign Hertz Locations: Delta, York City, Las Vegas, Miami, Austin , Texas, Washington ,

The first week of October is considered the best week in 2023 to buy a home. If you're in the market for a home, this week, the first week of October, may be the best time in 2023 to buy. This week represents a peak week for price reductions with an average of 5.5% of homes seeing price reductions this week. So with all of these positive factors in play, is this the best week for you to buy a home? However, if you are carrying significant credit card debt or student loans, adding a mortgage payment may not be right for you right now.

Persons: —, homebuyers Organizations: Service

☆ Monday Night Football: Seattle Seahawks roll past New York Giants with dominant defensive display
▼ + stars: | 2023-10-03 | by ( Homero De La Fuente | George Ramsay | ) edition.cnn.com time to read: +3 min

CNN —The Seattle Seahawks cruised past the New York Giants with a blowout 24-3 victory at MetLife Stadium on Monday. The Seahawks built the win off the back of a strong defense, ending the game with a franchise record-equaling 11 sacks – including 10 sacks on Giants quarterback Daniel Jones. Linebacker Bobby Wagner led the way for the Seattle defense – tallying 17 tackles and two sacks – while Jordyn Brooks, Devon Witherspoon and Uchenna Nwosu tallied two sacks each. “We’re not a finished product, we’re just getting rolling,” said Seahawks head coach Pete Carroll. “We had a good week [in practice],” Giants head coach Brian Daboll told reporters.

Persons: Daniel Jones, Bobby Wagner, Jordyn Brooks, Devon Witherspoon, Uchenna Nwosu, Witherspoon, Jones, “ We’re, ”, Pete Carroll, “, Sarah Stier, Carroll, “ I’ve, Jamal Adams, –, “ He’s, he’ll, Geno Smith, DK Metcalf, Noah Fant, Kenneth Walker III, Smith, Isaiah Simmons ’, Al Bello, Brian Daboll, didn’t, We’ve Organizations: CNN, The Seattle Seahawks, New York Giants, MetLife, Seahawks, Giants, Seattle, NFL, ESPN, ” Giants, Miami Dolphins, Buffalo Bills, Cincinnati Bengals

After spiking last week, mortgage rates initially inched down this week but have since trended back up. Average 30-year mortgage rates are currently around 30 basis points above their September average. Whether mortgage rates will fall sooner rather than later depends on the path of inflation and the Federal Reserve's response. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. 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: Zillow, Federal Reserve, Fed, Mortgage, Association, Sky Locations: Chevron

Making mistakes doesn't feel great, but they can provide some lessons you might not have learned otherwise. We asked this year's rising stars of Wall Street to open up about the biggest missteps of their careers so far and what they took away from them. Some shared their rookie errors — like slamming their laptop shut after forgetting to save their first big pitch deck or duplicating a trade — while others gave more reflective answers about how early career mistakes impacted their paths. We've got to iterate and change how we do things, and I think that's helped our team's process a lot. So my mistakes also brought me here, and everything that has been a mistake is always a learning experience.

Persons: there's, Luis Arteaga, David Trinh, you'll, Michael Dunn Goekjian, Tori Gilliland, didn't, It's, Andrew Almeida, Thoma Bravo I've, I've, Nadim Laiwala, Rachel Hunter, Goldman, Kristen Powers, Morgan Stanley, Sarah Sigfusson, Shanta Wu, Fred Michel, who's, Morgan, Neil Kamath, Rachel Barry, Chris Dell'Amore, We've, that's, Peter Gylfe, Ricky Mewani, Dominic Rizzo, Rowe Price, Lillian Qian Lin, of, Steve Schwarzman, Peter Peterson, Stephen Schwarzman, Blackstone, Patrick McGoldrick, Katya Brozyna, Michael Wilkinson, Yi Yi, Wells, Luna McKeon, —, Anne, Victoire Auriault, Goldman Sachs Organizations: Barclays, Delta, Barclays Bridgewater Associates, Bridgewater Associates, Apollo Management, Thoma Bravo, Moelis, US, Bank of, Fidelity, JPMorgan, BlackRock Blackstone, Citadel, Blackstone, Jefferies, Citadel Securities, Blue Owl, Goldman Locations: Bank, Evercore, Wells, Americas

As inflation slows and the Fed is able to stop hiking rates — and, ultimately, start cutting them — mortgage rates should start trending down. 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. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase a Bit (+0.08%)The current average 30-year fixed mortgage rate is 7.32%, up just 8 basis points since this time last week. 15-Year Fixed Mortgage Rates Tick Up Very Slightly (+0.04%)The average 15-year mortgage rate is 6.53%, a 4-basis-point increase from last week. Mortgage rates have been volatile so far in 2023, and they're higher than they were in September 2022.

Persons: you'll, It's, refinance Organizations: Mortgage Bankers Association, Zillow, FHA Locations: Chevron

"It's not going to be a matter of struggling to get the inflation rate higher. While higher interest rates are good news for savers, businesses and consumers have become used to paying nothing for money over the past 15 years. Reuters GraphicsREADING YIELDSA market-based Fed model that breaks down the 10-year Treasury yield into its components provides further insight into investors' thinking. This rise in term premium, which spent much of the last decade below zero, reflects high levels of uncertainty about economic outlook and monetary policy, investors said. While the market appears to be confident in its belief in the end of the era of zero interest rates, it is far less so about the economy's actual likely path.

Persons: Sarah Silbiger, Greg Whiteley, It's, Neel Kashkari, Kashkari, Adrian, Crump, Emanuel Moench, John Velis, Leslie Falconio, BNY's Velis, Velis, Paritosh Bansal, Anna Driver 私 Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Treasury, Federal Reserve, York Fed, Minneapolis, Moench, Frankfurt School of Finance, Management, Americas, BNY Mellon, UBS Global Wealth Management, San, San Francisco Fed Locations: Washington ,, U.S, DoubleLine, San Francisco

Average 30-year mortgage rates are now well above 7%, crushing affordability for many would-be homebuyers. Mortgage rates could start inching down in the next couple of months and fall more significantly next year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.72% last week, according to Freddie Mac data. Mortgage rates increased dramatically in 2022 and have been volatile so far in 2023, but they're expected to trend down later this year.

Persons: they're, you'll, Freddie Mac Organizations: Federal Reserve, Zillow Locations: Chevron

After spending most of the month hovering right around 7%, 30-year mortgage rates spiked above 7.30% this week. Mortgage rates were higher in September than they've been in nearly 23 years, according to Freddie Mac. 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. 30-year Fixed Mortgage RatesLast week, the average 30-year fixed mortgage rate was 7.31%, according to Freddie Mac. 15-year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.72% last week, an 18-point increase compared to the prior week, according to Freddie Mac data.

Persons: they've, Freddie Mac, you'll Organizations: Economic, Zillow, Federal Reserve Locations: Chevron

Average 30-year mortgage rates reached a 23-year high of 7.31% this week, according to Freddie Mac. "However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. 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. 30-Year Fixed Mortgage RatesThis week, the average 30-year fixed mortgage rate was 7.31%, according to Freddie Mac.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, it's Organizations: Federal, Zillow Locations: Chevron

☆ US poor face economic hit as shutdown, childcare cliff, student loans converge
▼ + stars: | 2023-09-29 | by ( Andrea Shalal | ) www.reuters.com time to read: +6 min

A separate benefits program, Supplemental Nutrition Assistance Program (SNAP), will continue as normal for the month of October but could be affected afterward, officials say. U.S. officals say Small Business Administration loans may be delayed and up to 10,000 children could lose access to Head Start, the federal program for preschool children from low-income families. The AFL-CIO estimates that more than 3 million children will lose access to quality childcare and thousands of providers will be forced to close, lay off childcare workers or reduce slots for children. STUDENT LOAN DEBT REPAYMENTSA three-year moratorium on student loan repayments ends on Oct. 1 after the U.S. Supreme Court in June blocked the Biden administration's plan to cancel $430 billion in student loan debt for 43 million borrowers. Student loan repayment resumption "will be more challenging for the lowest-income groups," Bank of America said in a recent research report, because they saved less during the moratorium than higher-income groups.

Persons: Sarah Silbiger, Joe Biden, Biden, Patty Murray, Rosa DeLauro, Liz Pagel, Andrea Shalal, Heather Timmons, Timothy Gardner Organizations: U.S, Russell Senate, REUTERS, Rights, Republican, American Federation of Government Employees, SNAP, Women, Assistance, Democratic, AFL, Century Foundation, Supreme, Student, Protection, Bank of America, Thomson Locations: Russell, Washington , U.S, TransUnion

Accounts of suicidal thoughts linked to this class of drugs are drawing increasing scrutiny, including an investigation by European regulators announced in July. More than half of the narrative summaries describe suicidal thoughts appearing shortly after the person started the medicine or increased the dose. Wegovy’s U.S. prescribing label, produced with FDA approval, says suicidal thoughts or attempts have been reported in clinical trials for other weight-loss medicines. Sanofi's Acomplia, which never won U.S. approval, was withdrawn in Europe in 2008 after being linked to suicidal thoughts. She said she has not experienced any suicidal thoughts on that drug.

Persons: Dawn Heidlebaugh, Megan Jelinger, ”, Heidlebaugh, Eli Lilly, Thomas J, Moore, aren't, It’s, Novo, Dr, Erick Turner, Turner, Novo’s, drugmakers, Sanofi's, Sanofi, Contrave, John Amos, Lilly, Reuters weren’t, Lisa Wood, ” Wood, Sarah Sobol, you’re, Sobol, ’ ” Katherine, Jayson Chesnutt, Chesnutt, Robin Respaut, Chad Terhune, Maggie Fick, Ludwig Burger, Michele Gershberg, Brian Thevenot Organizations: REUTERS, Novo, U.S . Food, Drug Administration, Reuters, FDA, Johns Hopkins Bloomberg School of Public Health, Oregon Health & Science University, Novo Nordisk, U.S ., European Union, European Medicines Agency, U.S, Currax Pharmaceuticals, Vivus, Facebook, Thomson Locations: Findlay , Ohio, U.S, Ohio, Novo, Canada, Europe, Carolina, Buffalo , New York, North Carolina, Indiana

Average 30-year mortgage rates have increased over 20 basis points compared to last week, and they remain the highest they've been since the early 2000s. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. 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. Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices.

Persons: Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, Sky, ARM Locations: Chevron

☆ Opinion | If Hurricane Rebuilding Is Only Affordable for the Wealthy, This Is the Florida You Get
▼ + stars: | 2023-09-27 | by ( Sarah Stodola | ) www.nytimes.com time to read: +3 min

Just down the island’s main road, the Red Coconut R.V. For most homes in Fort Myers Beach, this means that rebuilding what was there before Ian isn’t an option. For a hotel development like Margaritaville, the building codes helped it weather Ian with damage from which it could recover. That means existing property owners like those of the Silver Sands, Red Coconut and countless private homes end up cutting their losses and selling. They’re also banking on the infinite desirability of the beachfront, as are the state authorities responsible for the building codes that allow redevelopment after hurricanes and floods.

Persons: Hurricane Andrew, Ian isn’t Organizations: Seagate Development Group Locations: Southwest Florida, Fort Myers, Sands, Florida, Banks, North Carolina, New York City

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