Reginald Mathalone / NurPhoto / Shutterstock.com As of the second quarter of 2024, the average sales price of homes in the U.S. was $501,700, according to Federal Reserve data. In comparison, the average sales price was $340,600 just five years ago. During certain times — such as in a recession — you may see dips
AUSTIN, Texas — After years of being at all-time highs, mortgage rates have dropped to their lowest in more than a year in anticipation of an interest rate cut by the Federal Reserve next month. This relief comes at a time when a majority of Texans believe there’s a housing affordability crisis. When it comes
After two lackluster years, Wall Street bonuses are poised to jump in virtually every sector of the industry, with debt underwriting likely to be the biggest winner. Bankers who help companies sell debt may see payouts swell as much as 35%, as deals pick up and capital markets rebound from multiyear lows, according to a
The average rate on a 30-year mortgage fell this week to its lowest level in more than a year, a welcome affordability boost for prospective home shoppers and homeowners looking to refinance their home loan to a lower rate. The rate fell to 6.47% from 6.73% last week, mortgage buyer Freddie Mac said Thursday. A year ago,
Consumers’ total outstanding credit increased by $8.9 billion in June, with a rise in non-revolving credit partially offset by a decline in revolving credit. Non-revolving credit increased by $10.6 billion during the month, while revolving credit declined by $1.7 billion, the Federal Reserve said Wednesday (Aug. 7) in its monthly report on outstanding consumer credit. In terms of percentages,
We’re in some weird times. On Friday, it was a weaker-than-expected jobs report, and on Monday, there was a global stock market meltdown. The one bright spot is that weekly mortgage rates fell to their lowest level since February, so that’s good news for potential homebuyers or those who have been waiting to refinance or
The downward movement in mortgage rates over the past few months accelerated last week as a cooler-than-expected jobs report and indications of a Federal Reserve rate cut led to a steep drop in loan pricing. At HousingWire‘s Mortgage Rates Center on Tuesday, the 30-year conventional loan rate averaged 6.8% — a new low point for
Investors are keeping a close eye on the stock market this morning following Japan’s sharp dive on Monday, the biggest drop since 1987. Japanese markets bounced back quickly by Tuesday morning, but the drop in stocks caught the attention of investors around the world. Pete Tibbles from BOK Financial joined New 9 at 9 with more information on the stock market drop and how it could affect the American economy. He said the drop was caused by what they call a carry trade. “After COVID, central banks raised rates significantly to combat inflation, but that did not happen in Japan, and so a lot of people borrowed currency,” Tibbles said. He
PASCAGOULA, Miss., August 06, 2024–(BUSINESS WIRE)–Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the parent company of Merchants & Marine Bank, reported net income through the second quarter of $1.72 million, or $1.29 per share, compared with earnings of $1.87 million, or $1.41 per share, in the same period of the prior year. Gross income through
The July jobs report came in weaker than forecasted on Friday, August 2. Yahoo Finance broke down the numbers and explored their impact on the market. (00:00:00) Morning Brief anchors Seana Smith and Brad Smith explained the data from the July jobs report. (00:02:07) Joe Brusuelas, RSM chief economist, and Marc Pinto, Janus Henderson Investors