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Mortgage rates probably won't drop much further if the Fed cuts rates, unless central bankers opt for a larger-than-expected cut. 30-Year Mortgage RatesAverage 30-year mortgage rates have been dropping this month and are now down near 5.70%, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, they've, Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Chevron

☆ The Fed has the proof it wants that inflation is slowing, but the next move is still up in the air
▼ + stars: | 2024-09-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A week's worth of inflation data showed that price pressures have eased substantially since their meteoric rise in 2021-22. "We got two more months of good inflation data" since the last Fed meeting, Claudia Sahm, chief economist for New Century Advisors, said in a CNBC interview Friday. Futures markets for most of the past week had lasered in on a quarter percentage point, or 25 basis point, rate cut. The inflation data "on its own would have gotten us 25 next week, as it should, and will get us a whole string of cuts after that," she said. [Fed officials] need to kind of clean it up, do a 50 basis point cut and then be ready to do more."

Persons: Jerome Powell, Claudia Sahm, Sahm Organizations: Banking, Housing, Urban, Capitol, Federal Reserve, Federal, New Century Advisors, CNBC, Fed Locations: Washington ,

☆ Billionaire investor John Paulson says the Fed can 'move aggressively' on rate cuts
▼ + stars: | 2024-09-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Billionaire investor and hedge fund veteran John Paulson said Friday that he would like to see the Federal Reserve start big with its rate cuts. The central bankers seem to be deciding between a cut of 25 basis points or 50 basis points. One asset class that often rises when the Federal Reserve cuts rate is gold, and Paulson is a longtime bull on the yellow metal. Paulson is a veteran figure in the hedge fund world and is perhaps most famous for betting against the housing market ahead of the 2007 crash. Paulson announced in 2020 that he was converting his hedge fund into a family office.

Persons: John Paulson, Paulson, Donald Trump, Kamala Harris, Treasurys Organizations: Federal Reserve, Paulson, Co, Mines, U.S

☆ Engagement bait's rise on Threads is another example of how we just can't help ourselves on social media
▼ + stars: | 2024-09-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

While rage bait can be found across social media, its prominence on Threads is because of how the app promotes content. AdvertisementWith that in mind, there's often something in your behavior on social media that's leading the apps to send those posts your way. In the grand scheme of things, rage bait is not the worst thing on social media by a long shot . YouTube star MrBeast mastered social media algorithms to build a huge audience in no time. Here's what business students said , and here's what tech students said .

Persons: —, Rebecca Zisser, Katie Notopoulos, Katie, it's, it'll, Samantha Lee, Goldman Sachs, David Solomon isn't, Solomon, Warren Buffett's, Kanu Gulati, she'd, Jensen Huang doesn't, Huang, Alberto E, Rodriguez, MrBeast, Jonah Peretti, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Twitter, JPMorgan, Bank of America, Occidental Petroleum, Khosla Ventures, Kanu Gulati Khosla Ventures, Nvidia, Warner Bros, HBO, Charter Locations: Taiwan, China, New York, London

☆ Tech roars back, and Eli Lilly sends a welcome signal on its growth prospects
▼ + stars: | 2024-09-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Jim Cramer said earlier Friday that Nvidia received a do-over from Wall Street . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Nvidia, Financials, Love, Lilly, Eli Lilly, Lilly's, haven't, that's, Jim Cramer's, Jim Organizations: CNBC, Tech, Nvidia, Broadcom, Wall, Federal, Energy, Citi, and Drug Administration, Fed, Market, Jim Cramer's Charitable Locations: Ireland, Kisunla, U.S, Europe

☆ Don't expect 'immediate relief' from the Federal Reserve's first rate cut in years, economist says. Here's why
▼ + stars: | 2024-09-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

The federal funds rate, which the U.S. central bank sets, is the rate at which banks borrow and lend to one another overnight. Home loan rates have already started to fall, largely due to the prospect of a Fed-induced economic slowdown. Student loansFederal student loan rates are also fixed, so most borrowers won't be immediately affected by a rate cut. Eventually, borrowers with existing variable-rate private student loans may also be able to refinance into a less expensive fixed-rate loan, according to higher education expert Mark Kantrowitz. However, refinancing a federal loan into a private student loan will forgo the safety nets that come with federal loans, he said, "such as deferments, forbearances, income-driven repayment and loan forgiveness and discharge options."

Persons: that's, McBride, Jacob Channel, it's, Matt Schulz, Bankrate's McBride, Mark Kantrowitz Organizations: Treasury, Mortgage, Association, Auto, Consumers Locations: U.S

☆ 'Nothing is going to change.' Why Wall Street insiders are casting doubt on new policies to protect junior investment bankers from burnout.
▼ + stars: | 2024-09-12 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +8 min

Two of Wall Street's biggest banks are adopting new policies to mitigate overwork and burnout for their junior investment bankers. Bank of America will use a new tool to better track working hours for junior bankers, the Journal report said, and flag HR when those go above 80. But the nature of investment banking work makes it hard to believe that such guardrails will stand the test of time. He completed an internship at an investment bank in New York last summer and accepted a return offer to start full time in 2025. If senior banking staff don't unilaterally enforce the cap and take it seriously, junior bankers can feel pressure to let the rules slide for the sake of the team and their own careers.

Persons: Leo Lukenas III, Lukenas, Jamie Dimon, JPMorgan Chase, we've, they're, Moritz Erhardt, —, We've Organizations: Service, Industry, JPMorgan, Street, Bank of America, Business, Bank of, Green Beret, of America Locations: New York, London

☆ Gold inches higher as investors eye U.S. data for rate cues
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Data on Wednesday showed that U.S. consumer prices rose marginally in August, but underlying inflation showed some stickiness, which could discourage the Federal Reserve from delivering a half-point interest rate cut next week. CPI data showed no major inflation spikes, which is supporting gold prices to hold above $2,500 and suggesting no immediate changes to Fed policy, Wong added. Palladium climbed 1.3% to $1,021.84, its highest since July 8, following comments on export regulations from Russian President Vladimir Putin.

Persons: Kelvin Wong, OANDA's, Price, Wong, Vladimir Putin, Putin Organizations: Asia Pacific, Traders, U.S, PPI, Reserve, West Locations: U.S, Moscow

☆ JPMorgan, Bank of America plan to limit hours of young bankers following investigation
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan, Bank of America plan to limit hours of young bankers following investigationCNBC's Becky Quick reports on an outcry from Wall Street.

Persons: Becky Quick Organizations: JPMorgan, Bank of America

Mortgage rates have dropped nearly 20 basis points this week, with 30-year rates now near 5.7%, according to Zillow data. 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. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have inched down this week and are now hovering near 5.7%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Because markets are already anticipating that the Fed will lower rates, mortgage rates might not drop much in response to a Fed rate cut.

Persons: you'll, Freddie Mac, it's Organizations: Reserve, of Labor Statistics, Fed, Zillow Locations: Chevron

☆ JPMorgan just capped bankers' work at 80 hours a week — but there's still one big exception
▼ + stars: | 2024-09-12 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

JPMorgan Chase and Bank of America are taking steps to limit junior bankers' work hours. AdvertisementTwo Wall Street banks are cracking down on young bankers' working hours, as the industry continues to grapple with a long-standing culture of overwork. On Wednesday, The Wall Street Journal reported that JPMorgan Chase plans to limit bankers' hours and that Bank of America is using a new tool to track their time on the job. JPMorgan will cap working time at 80 hours a week. It carves out one big exception: live deals, typically the most taxing part of the job, when bankers need to be on call for high-stakes work around the clock.

Persons: Peers, Morgan Stanley, Goldman Sachs, —, JPMorgan Chase Organizations: JPMorgan Chase, Bank of America, Service, Street Journal, JPMorgan, Business

The pace of inflation likely moderated again in August — further relief for beleaguered consumers still smarting from pandemic-era price shocks. Though price growth has largely returned to the Federal Reserve's official 2% target, the sting of rapid price increases over the past four years lingers for many consumers. The latest inflation report is likely to cement a 0.25% cut in the Federal Reserve's key interest rate, currently at about 5.3%, later this month. But experts say it will take some time for consumers to feel the impact of the lower interest rate — and the relatively small size of the cut means borrowing costs will still be somewhat elevated. While the Fed is now widely expected to cut interest rates, a cut of just 0.25% may not be enough to stave off that scenario.

Persons: —, There's, Joe Biden, Kamala Harris, Zillow, Paul, ” Marina Walsh, ” Walsh, Torsten Slok, Slok, Sophia Kearney, Jerome Powell's, Kearney, Lederman Organizations: of Labor Statistics, Federal Reserve's, Democratic, Labor Statistics, Princeton, “, Mortgage Bankers Association, Apollo Global Management, FHN, NBC News, Fed Locations: U.S, New York, Los Angeles, Minneapolis, St, Las Vegas, Phoenix

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 Mortgage Rates TodayAverage 30-year mortgage rates are down slightly and are hovering around 5.75%, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates have inched down this week and are hovering just above 5%, according to Zillow data. Last month, 30-year refinance rates averaged 6.59%, while 15-year refinance rates were around 5.90%. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.

Persons: they've, you'll, Freddie Mac, it's, They'll, refinance Organizations: Reserve, Zillow, Fed Locations: Chevron

☆ Mortgage rates hit lowest level since February 2023
▼ + stars: | 2024-09-11 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

According to a report by the National Association of Realtors, pending home sales fell 1.5 percent in October to their lowest level in 20 years. (Photo by Justin Sullivan/Getty Images)Mortgage rates fell for the sixth straight week last week, but mortgage demand still seems to be waiting for something bigger. That is the lowest level since February 2023 and nearly a full percentage point lower than the same week one year ago. Total mortgage demand, however, rose just 1.4% for the week, according to the MBA's seasonally adjusted index. Mortgage rates continued to move lower to start this week, according to a separate survey by Mortgage News Daily, but the monthly release of the Consumer Price Index, a measure of inflation, on Wednesday could impact the direction of rates more sharply in either direction.

Persons: Justin Sullivan, Joel Kan, Kan, Matthew Graham Organizations: National Association of Realtors, Mortgage, Association, Treasury, Federal Reserve, Labor, Mortgage News Locations: CALIFORNIA, Larkspur , California

☆ Stock market today: Stocks fall as annual inflation slows but monthly CPI notches surprise increase
▼ + stars: | 2024-09-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Core inflation rose 0.3% in August, slightly above economists' expectations. Meanwhile, investors dashed their hopes for a 50 basis point rate cut from the Fed next week. AdvertisementUS stocks traded mixed on Wednesday as investors took in last month's inflation report, which showed an unexpected increase in the monthly core consumer price index. Bond yields rose as traders readjusted expectations for a jumbo rate hike of 50 basis points at next week's Federal Open Market Committee meeting. AdvertisementThe surprise increase led investors to almost completely discount the possibility of a 50 basis point rate cut at the Fed's next policy meeting.

Persons: —, Josh Jamner, Jack McIntyre Organizations: Fed, Service, Dow Jones, ClearBridge Investments, Brandywine Global Locations: Here's

☆ How Trump vs. Harris is playing out on Wall Street ahead of the debate
▼ + stars: | 2024-09-10 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. For Wall Street bankers, traders, and executives, the election also stands to affect their jobs and business prospects, from US trade relations to demand for megamergers. To see where Wall Street's top leaders stand ahead of Tuesday's debate, Business Insider scoured the Federal Election Commission website for individual donations from Wall Street leaders between 2023 and August. The data showed donations from leaders across investment banking, private equity, and hedge funds, including Blackstone and Evercore. See below to find which Wall Street tycoons are voting for which candidate in 2024 presidential election, in alphabetical order:

Persons: —, Donald Trump, Kamala Harris —, Richard Haass, Goldman Sachs, Trump, China —, Morgan Stanley, Harris, Joe Biden's, Biden Organizations: Service, Foreign Relations, Business, Centerview Partners, Wall Street, megamergers, Blackstone, JPMorgan, Citi, Bank of America Locations: China

☆ 4 positives to focus on as recession fears grip the market, Deutsche Bank says
▼ + stars: | 2024-09-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

But Deutsche Bank is offering four reasons to stay positive even as recession fears flare. AdvertisementIt's an uncomfortable time for equity investors, with the S&P 500 fresh off its biggest weekly decline in 18 months. Although the Federal Reserve is on the brink of long-awaited rate cuts, concerns have crept into the market that the economy is at risk of a sudden unpreventable softening. But with interest rate cuts ahead and recession fears in the air, investors are more likely to reposition. Rate cuts are on the horizonAdvertisementAll of Wall Street appears to be bracing for the Federal Reserve to lower rates at its policy meeting next week.

Persons: —, Deutsche, There's Organizations: Deutsche Bank, Service, Federal, Wall, Deutsche, Federal Reserve, Treasury, Mortgage Bankers Association

☆ Stock futures are little changed as traders brace for August consumer inflation report: Live updates
▼ + stars: | 2024-09-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Tuesday night ahead of the August consumer inflation report due Wednesday morning. S&P 500 futures and Nasdaq 100 futures both dipped 0.1%. Traders are anticipating a key economic report Wednesday morning: August's consumer price index. The CPI report and Thursday's producer price index could help determine the size of a widely expected rate cut at the end of the Federal Reserve's two-day meeting on Sept. 18. Fed funds futures trading suggests a 69% chance of a 25-basis-point rate cut and a 31% likelihood of a 50-basis-point reduction, according to CME's FedWatch Tool.

Persons: Dow, Dow Jones, CME's, Kristina Hooper, Hooper Organizations: Dow Jones Industrial, Nasdaq, GameStop, U.S . Securities, Exchange Commission, Nvidia, JPMorgan, CPI, Federal

Nationwide, active listings in August were up 36% compared with the same month last year, according to a new report from Realtor.com. The growth in supply is due to the fact that homes are sitting on the market longer. “The widely anticipated Fed rate cut has already ushered in lower mortgage rates, but it seems that some buyers and sellers are waiting for additional declines.”That can be seen in weekly mortgage data. Regionally, active listings rose 46% in the South, 35.7% in the West, 23.8% in the Midwest and 15.1% in the Northeast. Part of that is due to the mix of homes on the market, as more smaller homes are being listed.

Persons: ”, Danielle Hale, “, Ralph McLaughlin Organizations: Nationwide, Mortgage, Association, Midwest, Realtor.com Locations: Tampa, San Diego, Miami, Seattle, Denver, West

☆ Home listings are up more than 60% in some cities. Here's where
▼ + stars: | 2024-09-06 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Nationwide, active listings in August were up 36% compared with the same month last year, according to a new report from Realtor.com. "The widely anticipated Fed rate cut has already ushered in lower mortgage rates, but it seems that some buyers and sellers are waiting for additional declines." Regionally, active listings rose 46% in the South, 35.7% in the West, 23.8% in the Midwest and 15.1% in the Northeast. More supply and longer selling times are finally translating into lower prices. Part of that is due to the mix of homes on the market, as more smaller homes are being listed.

Persons: Patrick T, Fallon, PATRICK T, FALLON, Danielle Hale, Ralph McLaughlin Organizations: National Association of Realtors, Getty, Nationwide, Mortgage, Association, Midwest Locations: Los Angeles , California, United States, AFP, Tampa, San Diego, Miami, Seattle, Denver, West

☆ Nvidia has more than just billions of dollars in value to lose if its stock keeps falling
▼ + stars: | 2024-09-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Nvidia, the nearly $3 trillion AI chip maker, is well known as a “golden handcuffs” employer. It’s worked especially well for Nvidia, a 30-year-old tech company whose specialized chips now account for 90% of AI-related chip sales. Since 2019, Nvidia’s stock has soared 3,000% — minting millionaires among its rank and file. Things got worse for Nvidia on Tuesday, when shares fell 9.5%, wiping $279 billion off its value. As my colleague David Goldman noted, only 27 companies on Earth are worth as much as Nvidia lost on Tuesday.

Persons: CNN Business ’, It’s, Jensen Huang, Per, David Goldman Organizations: CNN Business, New York CNN, Nvidia, Bloomberg, Santa, Per Bloomberg, Wall, Google, Competition Locations: New York, ”

☆ Dell attempts to sell cybersecurity firm SecureWorks again, sources tell Reuters
▼ + stars: | 2024-08-29 | by ( ) www.cnbc.com time to read: +2 min

Personal computer maker Dell Technologies is again exploring a possible sale of SecureWorks , after unsuccessful earlier attempts to find a buyer for the U.S. cybersecurity firm, according to people familiar with the matter. Dell, which has shed many non-core assets in recent years, owns 79.2% of SecureWorks by holding all of the company's class B shares, according to recent filings. Dell explored a sale of SecureWorks in 2019, part of an effort to trim Dell's debt pile, Reuters reported at the time. Dell acquired SecureWorks for $612 million in 2011, before listing its shares through an initial public offering in New York in 2016. The company's shares have risen by about 46% so far this year, outperforming an 18% rise in the S&P 500 index.

Persons: Michael Dell, Morgan Stanley, Piper Sandler, Dell, outperforming Organizations: Dell Technologies, U.S, Dell, SecureWorks, Reuters Locations: , Texas, SecureWorks, Atlanta , Georgia, cyberattacks, New York

☆ Don't get your hopes up about the housing market
▼ + stars: | 2024-08-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

One of the most painful ways higher interest rates have impacted Americans is through higher housing costs. The combination of high borrowing costs and skyrocketing home prices and rents — caused by a housing shortage — has created an enduring housing affordability crisis. On the one hand, lower borrowing costs would likely make mortgages cheaper for buyers and encourage builders to construct desperately needed new homes. But rate cuts would also spur new home construction, as builders respond to higher demand and lower borrowing costs for acquisition and construction loans. On top of high borrowing costs, builders are struggling with a severe shortage of construction workers and high building material costs.

Persons: —, Jerome Powell, Daryl Fairweather, Wells, underbuilding, Ben Metcalf, Metcalf Organizations: Service, Jackson Hole , Wyoming ., Business, Bank of England, Terner Center, Housing Innovation, UC Berkeley Locations: Jackson Hole , Wyoming

☆ The one question on everyone’s mind about interest rates
▼ + stars: | 2024-08-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

That’s precisely why the Fed is poised to cut interest rates in September for the first time since 2020. Therein lies the one question on everyone’s mind: How aggressively will the Fed ultimately cut rates? A high threshold for jumbo rate cutsThe Fed makes its decisions on interest rates consistent with what’s happening in the economy. Fed officials have mostly signaled that they’re finally ready to cut rates, but some have still expressed some hesitance. But, for now, there’s no emergency demanding the Fed cut rates aggressively next month, or any time later in the year.

Persons: Jerome Powell, pare, Price, Powell, “ They’re, ” Tani Fukui, they’re, Raphael Bostic, ” Powell, Ryan Sweet, Sweet, That’s Organizations: Washington CNN, Labor Department, Kansas City Fed, Fed, Traders, MetLife Investment Management, CNN, Atlanta Fed, Citi, Oxford Economics Locations: Unemployment, Jackson Hole , Wyoming

☆ The Fed has redeemed itself after an 'egregious' post-COVID inflation error, former Treasury Secretary Larry Summers says
▼ + stars: | 2024-08-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The former Treasury Secretary told Bloomberg TV that the central bank's interest rate strategy has largely succeeded, even though Fed officials made a major blunder by first underestimating pandemic-era inflation. In 2021, the Fed mischaracterized inflation as "transitory," citing that COVID supply chain disruptions would eventually blow away. Once central bankers grew to understand that inflation needed an interest rate response, the Fed initiated the most aggressive policy-tightening campaign in recent history. In that period, Summers often showcased skepticism that the Fed could clamp down on inflation this way without economic consequences. AdvertisementNow, the main question is how far interest rates could fall during the Fed's September meeting.

Persons: —, Larry Summers, Summers, I've, Jerome Powell, Powell Organizations: Service, Bloomberg, Business, Fed

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