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Mortgage rates are down slightly today, but 30-year mortgage rates are still up around 45 basis points from where they started the week. When the data shows that the economy is still running hot, mortgage rates tend to go up. This latest report is good news for mortgage rates, because it means the labor market is continuing to soften. 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: Fannie Mae, they'll Organizations: Federal Reserve, of Labor Statistics, Zillow, Fed, Mortgage, Association, Sky, ARM Locations: Chevron
For the second week in a row, average 30-year mortgage rates have jumped — they are now at 6.90%, according to Freddie Mac. Average 15-year mortgage rates also increased to 6.25%. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. 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: Freddie Mac, Sam Khater, Freddie Mac's, you'll, Fannie Mae Organizations: Federal Reserve, Mortgage, Zillow, Association, Sky Locations: Chevron
If the Fed stops hiking rates this year, mortgage rates could fall a bit. As the economy slows throughout this year and next, the central bank may even consider cutting rates, which would allow mortgage rates to drop even further. According to its latest forecast, the Mortgage Bankers Association expects 30-year mortgage rates to fall to 5.9% by the end of 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.
Persons: Freddie Mac, Fannie Mae, they'll Organizations: Federal Reserve, Fed, Mortgage, Association, Zillow, Sky, ARM Locations: Chevron
Mortgage rates have had a volatile week. Average 30-year mortgage rates started the week relatively flat compared to the week before. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. 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: Reserve, Zillow, Federal Reserve, Mortgage, Association, Sky Locations: Chevron
The glut came after companies began to stockpile chips amid the shortage to build up inventories. From profit boost to income plungeThe pandemic-induced shortage of semiconductors helped boost chip makers' profits as prices jumped. Meanwhile, SK Hynix swung to a loss in the second quarter versus a profit in the same period last year. Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, said last week that net income for the second quarter fell 23.3% from a year ago. Looking ahead, the PC market appears weak, which is likely to impact Samsung, SK Hynix and Micron.
Persons: Wong Yu Liang, Peter Hanbury, Hanbury, Sze Ho Ng Organizations: Bain & Company, CNBC, Samsung, SK Hynix, Micron, Taiwan Semiconductor Manufacturing Company, China Renaissance Securities Locations: oversupply
Low-income parents and babies are eligible to receive the benefit, which subsidizes food and care. If the GOP bill were passed, millions would see a benefit cut, especially to fruit and vegetable budgets. In total, according to CBPP's analysis, the $6 billion the GOP bill allocates to WIC would lead to 5.3 million children and pregnant, postpartum, or breastfeeding parents seeing their food assistance cut, or completely gone. Per the USDA, 6,260,000 people participated in WIC in fiscal year 2022; as of April 2023, there were over 6.6 million Americans participating, including nearly 1.5 million infants and 3.6 million children. The proposed cuts to WIC come after an already-precarious time for low-income Americans receiving food subsidies.
Persons: Catherine Rampell, Tonyia Canales, Canales Organizations: GOP, Service, Women, Budget, WIC, Budget Management, OMB, Washington, Congress Locations: Wall, Silicon, Texas
This began the deployment of Task Force Smith, the first American combat troops to arrive and fight in the Korean War. It was Soviet leader Josef Stalin himself who reluctantly gave the go ahead to North Korean dictator Kim Il-Sung to invade. Task Force Smith suffered its heaviest casualties during the retreat, with enemy machine gun positions hitting them from close range. Crew members give first aid to wounded soldier, during action in the Korean War. After American and UN reinforcements arrived, a counteroffensive drove the North Korean military to the brink of collapse.
Persons: Charles B, Smith, Force Smith, Josef Stalin, Kim Il, Task Force Smith, Gordon Sullivan, Stalin, Mao Zedong, Sung, Adolf Hitler, Dean Acheson, Christmas, Dwight D, Eisenhower Organizations: North Koreans, South, Service, North, Soviet Union, 국군 Republic of Korea Armed Forces, Wikimedia Commons Bombers, US Far East Air Force Command, Royal Australian Air Force, Suwon, KA, Korean Army, US Army, North Korean Communist, Wikimedia, Task Force, Artillery, Army, Wikimedia Commons, Crew, National Archives, Records Administration, Staff, Force, Communist, National Press Club, Armored Forces, Arlington National Cemetery, American, UN, North Korean, Public Locations: Wall, Silicon, Camp Woods, Kumamoto, Japan, Soviet, Korean, 국군 Republic, Pusan, South Korea, Republic of Korea, Osan, Korea, Saipan, United States, Arlington, Tim1965, Pacific, China, Kaesong, U.S, Soviet Union, North Korea, North
Mortgage rates fell slightly last week, with 30-year mortgage rates dropping to 6.78%, according to Freddie Mac. According to its latest forecast, the Mortgage Bankers Association expects 30-year mortgage rates to fall to 5.9% by the end of this year. 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: Freddie Mac, Fannie Mae, they'll Organizations: Mortgage, Association, Zillow, Federal Reserve, Fed, Sky, ARM Locations: Chevron
Last week, average 30-year mortgage rates fell 18 basis points compared to the week before, according to Freddie Mac. Average 15-year fixed mortgage rates decreased even further, dropping 24 basis points from the prior week. If Fed officials feel they'll be able to stop hiking rates after this month's meeting, mortgage rates will likely hold steady and may even fall a bit. 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: Freddie Mac, we'll, they'll, you'll, Fannie Mae Organizations: Federal, Zillow, Federal Reserve, Mortgage, Association, Sky Locations: Chevron
Morning Bid: Tesla, Netflix underwhelm
  + stars: | 2023-07-20 | by ( ) www.reuters.com   time to read: +4 min
[1/2] A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. REUTERS/Thomas Peter/File PhotoA look at the day ahead in U.S. and global markets from Mike DolanAn overdue cold shower? July 20 (Reuters) - The first of the supercharged Big Tech firms to report in this earnings season - Tesla and Netflix - seemed to underwhelm markets overnight, cutting across the enthusiastic reception for big banks and knocking back bulled-up Wall St from 2023 highs. Although electric car giant Tesla (TSLA.O) comfortably beat second quarter profit forecasts, markets seized on plans for continued price discounting and squeezed margins as a reason to drag its shares down almost 4% in overnight trading. In the fixed income world, Treasury yields crept back higher ahead of next week's Federal Reserve meeting.
Persons: Thomas Peter, Mike Dolan, Dow Jones, McLennan, Philip Morris, WR, DR Horton, Janet Yellen, John Organizations: REUTERS, Big Tech, Netflix, Overseas, Citizens, US Bancorp, Energy, Healthcare, Abbott Laboratories, Johnson, Blackstone, Truist Financial, American Airlines, Marsh, WR Berkley, CSX, Philadelphia Federal Reserve, Treasury, Reuters Graphics Housing, Reuters Graphics Reuters, Thomson, Reuters Locations: Beijing, China, U.S, Russia, Britain, Newmont, Freeport, McMoRan, DR, Philadelphia, Turkey, South Africa, Vietnam
Mortgage rates spiked dramatically last week, with 30-year mortgage rates nearing 7%. Slowing inflation in June allowed mortgage rates to fall somewhat, and they may trend down further once the Federal Reserve stops hiking rates. 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: Fannie Mae, they'll Organizations: Federal Reserve, Zillow, Fed, Mortgage, Association, Sky, ARM Locations: Chevron
At long last, homebuyers may finally be getting some relief in the form of lower mortgage rates. Average 30-year mortgage rates dropped significantly last week, ending the week around 40 basis points lower than where they started it. Mortgage rates are still relatively high, but it's likely that we'll see some more substantial drops later this year and throughout 2024. 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: homebuyers, you'll, Fannie Mae Organizations: Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron
He's still bullish on real-estate investing as a strategy to build wealth. But he's taking a buy-and-hold approach right now, and not taking out risky loans. It's hard to imagine anyone who hails the virtues of real-estate investing more than Brandon Turner. He again sang the praises of real-estate investing as a method for building generational wealth, and brushed off calls for a housing market crash that have grown louder since last year. But that's not to say Turner is particularly bullish on every investing approach right now.
Persons: Brandon Turner, He's, Turner, David Greene, that's, Skylar Olsen, Anne Curry, Morgan Stanley's Ellen Zentner, Ray Farris, Ian Shepherdson Organizations: Credit
After increasing consistently over the past couple of weeks, mortgage rates have finally receded somewhat. Average 30-year mortgage rates are now nearly 20 basis points lower than they were a week ago. 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: Fannie Mae, they'll Organizations: Federal, Zillow, Federal Reserve, Fed, Mortgage, Association, Sky, ARM Locations: Chevron
Mortgage rates rose dramatically last year in response to high inflation and aggressive rate hikes from the Federal Reserve. This means that more Fed hikes are likely, which will keep mortgage rates elevated for at least the next couple of months. 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. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.
Persons: they're, Fannie Mae, Doug Duncan, you'll Organizations: Federal Reserve, of Labor Statistics, Federal, Zillow, Mortgage, Association, Sky Locations: Chevron
Concert season is so weird right now
  + stars: | 2023-07-08 | by ( Lisa Respers France | ) edition.cnn.com   time to read: +5 min
Which “hurls” us into this week’s newsletter…Something to sip on…Pink performs on stage during a concert in Vienna, on July 1. ALEX HALADA/AFP via Getty Images“No home training.” – That’s what my late grandmother would have said about people who are throwing things at artists during concerts these days. Because clearly, if you are throwing things during a concert, you want to be a part of the performance. The married couple have a new weekly podcast, “The Best Podcast Ever.” Part of iHeartMedia’s Outspoken series, the project aims to amplify voices throughout the LGBTQ+ community. “The Best Podcast Ever” debuts July 10.
Persons: Pink, ALEX HALADA, , Lil Nas, Bebe Rexha, wilding, You’re, Tik tok, don’t, Charlie Puth, Adele, … Harrison Ford, Indiana Jones, That’s, ” “ Oppenheimer, Barbie ”, “ Barbie, Miranda Maday, Valerie Macon, Symoné, Miranda Pearman, , Count, … Andrew Ridgeley, George Michael, Wham, Andrew Ridgeley, It’s, Michael Organizations: CNN, Getty, Lucasfilm, BEST, Netflix, Wembley Locations: Vienna, AFP, Stockholm, New York City, Vegas, Beverly Hills, China, England
Alcaraz passes test at Wimbledon, Rybakina on fire
  + stars: | 2023-07-08 | by ( Martyn Herman | ) www.reuters.com   time to read: +5 min
In the men's draw, third seed Daniil Medvedev and fifth seed Stefanos Tsitsipas both swept through while 2021 runner-up Matteo Berrettini set up a showdown with Alcaraz. With the big-serving Berrettini up next, Alcaraz, who was a break down in the fourth set, said Saturday's test was just what he needed. Rybakina ensured a demoralising 48 hours for Britain as she demolished Katie Boulter 6-1 6-1 to end home hopes in the singles. But she lasted only 57 minutes as Kazakhstan's Rybakina sent out an ominous warning to those wanting her title. Second seed Sabalenka is also in the groove heading into the second week after a 6-2 6-3 defeat of Anna Blinkova.
Persons: Spain's Carlos Alcaraz, Chile's Nicolas Jarry, Toby Melville LONDON, Carlos Alcaraz, Elena Rybakina, Aryna Sabalenka, Petra Kvitova, Daniil Medvedev, Stefanos, Matteo Berrettini, Novak Djokovic, Alcaraz, Berrettini, Alexander Zverev, Medvedev, Hungary's Marton Fucsovics, Rybakina, Katie Boulter, Andy Murray, Cameron Norrie, Liam Broady, Kazakhstan's Rybakina, Beatriz Haddad Maia, Sorana, Maria Bueno, Anna Blinkova, Canada's Bianca Andreescu, Serbia's, Holger Rune, Spain's Alejandro Davidovich Fokina, Rune, Christopher Eubanks, Chris O'Connell, Tsitsipas, Martyn Herman, Clare Fallon Organizations: Lawn Tennis, Croquet Club, Chile's, Wimbledon, Queen's, Court, Serbian, Thomson Locations: London, Britain, Belarusian, Ukraine, U.S, Berlin
Average 30-year mortgage rates are now around 14 basis points higher than they were a week ago. Throughout the past couple of years, the economy became overheated, pushing up consumer prices and causing mortgage rates to spike. 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: Fannie Mae's, Fannie Mae, they'll Organizations: Consumer, Zillow, Federal Reserve, Fed, Mortgage, Association, Sky, ARM Locations: Chevron
Average 15-year fixed mortgage rates are up even more, nearly 20 basis points higher than they were this time last week. But as job growth slows, mortgage rates should recede somewhat. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. 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: Federal, Zillow, Federal Reserve, Mortgage, Association, Sky Locations: Chevron
Mortgage rates inched up just a bit this week. According to Freddie Mac, the average 30-year mortgage rate increased four basis points to 6.71%, while the average 15-year mortgage rate increased three basis points to 6.06%. 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: Freddie Mac, Sam Khater, Freddie Mac's, Fannie Mae, they'll Organizations: Census Bureau, Department of Housing, Urban, Zillow, Federal Reserve, Fed, Mortgage, Association, Sky, ARM Locations: Chevron
Average 15-year fixed mortgage rates have generally remained in the 5.7% to 5.9% range. So far, the economy has been cooling somewhat, which should eventually push mortgage rates down. But if the Federal Reserve feels that it needs to raise the federal funds rate to get inflation down to its target rate, mortgage rates could spike temporarily. 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: we'll, you'll, Fannie Mae Organizations: Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron
Mortgage rates are holding steady today and remain relatively low compared to where they were earlier this month. This is good news for mortgage borrowers, since it means less upward pressure on mortgage rates. 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: Freddie Mac, it's, Fannie Mae, they'll Organizations: Federal Reserve, Fed, Zillow, Mortgage, Association, Sky, ARM Locations: Chevron
The average 15-year fixed mortgage rate is also down this week, and is now hovering just above 6%. While lower rates are good news for hopeful homebuyers, mortgage rates still have a long way to fall before many of these buyers will begin to see a tangible increase in affordability. "Mortgage rates slid down again this week but remain elevated compared to this time last year," Sam Khater, Freddie Mac's chief economist, said in a press release. 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: Freddie Mac, Sam Khater, Freddie Mac's, you'll, Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, Sky Locations: Chevron
"Dumb Money," a film about the GameStop trading fiasco, is set to hit theaters September 22. The movie cast stars like Seth Rogen and Nick Offerman to play real-life finance execs. The social media-driven trading frenzy that pushed shares of GameStop sky high seemingly overnight captivated not just Wall Street, but the entire country. Now, more than two years removed from the event, Hollywood is ready to release its own version of the trading saga that rocked Wall Street. With so many high-profile Wall Street executives involved in the GameStop sage, people were naturally curious to see who would be cast in the film.
Persons: Seth Rogen, Nick Offerman Organizations: GameStop, Hollywood, Wall Locations: Wall
The 30-year rates have dipped slightly since last week, while 15-year mortgage rates have gone up a bit. A competitive market can keep mortgage rates high and homes expensive. 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: Freddie Mac, Prices, Fannie Mae, they'll Organizations: Zillow, Federal Reserve, Fed, Mortgage, Association, Sky, ARM Locations: Chevron
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