Latest Videos
The information you requested is not available at this time, please check back again soon.
New York Community Bancorp Inc. has had one of the most tumultuous quarters in recent banking history. Its first-quarter earnings will probably reveal more about impacts from the drama — and management’s plan to move forward.
Donald Trump’s longtime personal assistant, who worked for his real estate empire for decades, told a jury that she has a “vague recollection” of seeing Stormy Daniels at Trump Tower sometime before 2015.
The delinquency rate for US small businesses climbed to a three-year high this month, reflecting the impact of rent spikes and declining revenue, according to a monthly survey.
Apollo Global Management Inc., KKR & Co. and Stonepeak may inject billions of dollars into a joint venture that will help fund Intel Corp.’s semiconductor fabrication facility in Ireland, according to people with knowledge of the matter.
Cava Group Inc. is planning to further expand its footprint in the Chicago area and other areas of the Midwest, making a contrarian bet that the region will reverse population declines that have plagued it in recent years.
Sep 30, 2021
, Bloomberg News
(Bloomberg) -- Mortgage rates in the U.S. jumped above 3% for the first time in three months.
The average for a 30-year loan was 3.01%, up from 2.88% last week and the highest since June 24, Freddie Mac said in a statement Thursday.
Historically low borrowing costs have helped fuel the pandemic housing rally, with a shortage of available homes pushing prices higher as Americans seek larger properties in the suburbs.
If rates continue to tick up, that could help moderate surging prices, according to Sam Khater, chief economist at Freddie Mac.
“We expect mortgage rates to continue to rise modestly which will likely have an impact on home prices, causing them to moderate slightly after increasing over the last year,” Khater said.
Many potential buyers have struggled to find homes they can afford, or lost bidding wars in a market where cash offers have dominated. That’s fueled mounting concerns about affordability, especially for renters looking to become homeowners.
Read more: First-Time Buyers Get Crushed in Cutthroat U.S. Housing Market
The 30-year average sunk in 2020 and reached a record low of 2.65% at the beginning of this year. It has climbed since then, tracking yields for 10-year Treasuries, which have been above 1% since January.
The 10-year yield rose above 1.5% this week for the first time since June.
©2021 Bloomberg L.P.
