Mortgage interest rates have recently experienced a decline for the third consecutive week, resulting in an uptick in demand for refinancing options. However, despite this positive development for refinances, prospective homebuyers have not been equally enthused about the situation. According to the Mortgage Bankers Association, the total mortgage application volume increased by 1.9% in comparison
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The Consumer Financial Protection Bureau recently announced new regulations for the growing buy now, pay later (BNPL) industry. According to the agency, BNPL lenders must adhere to the same federal protections as traditional credit card providers under the Truth in Lending Act. This means that companies like Affirm, Klarna, and PayPal must comply with rules
Aspiring homeowners, especially those from the millennial and Gen Z generations, are considering the option of using funds from their 401(k) accounts to finance the purchase of a home. According to the Real Financial Progress Index by BMO Financial Group, 30% of respondents expressed their intentions to withdraw money from their retirement savings to buy
The recent financial performance of Trump Media has raised concerns among investors, as the company reported a net loss of $327.6 million on a meager $770,500 in revenue for the first quarter of 2024. This significant loss equates to a net loss of $3.61 per share attributable to common stockholders. The company attributed its loss
Family offices, which manage the wealth of high net worth individuals, are increasingly becoming targets for cybercriminals. A recent survey conducted by Dentons revealed that 79% of North American family offices believe that the likelihood of a cyberattack has significantly increased in recent years. With only a quarter of family offices reporting that they have
Federal Reserve Governor Christopher Waller recently made comments suggesting that he believes further interest rate increases may not be necessary due to easing inflation. While Waller acknowledged that central bankers should never say never, he pointed to various data indicating that inflation is not accelerating. Impact of Fed’s Higher Rates Waller highlighted the impact of
When searching for a new home, it’s important to be aware that a significant portion of available properties are new builds. According to a recent report by Redfin, approximately 33.4% of single-family homes on the market in the first quarter were newly constructed, almost double the pre-pandemic levels. This surge in new construction has shifted
Although the frenzy of home renovations seen during the pandemic has cooled off slightly, homeowners are still eager to invest in their living spaces as the spring housing market begins to heat up. According to the 2024 Cost vs. Value report from Zonda Media, certain home improvement projects are now offering the highest return on
Traveling in the summer of 2024 has shown a mix of trends in airfare prices for American tourists. While some destinations have seen a decrease in prices compared to the previous year, especially in Europe, others have experienced an increase in costs, particularly for flights to regions like Asia and South America. These fluctuations in
The recent Social Security report has highlighted the positive impact of a strong economy on the program. However, concerns have been raised regarding the depletion of Social Security’s trust funds within the next decade if no changes are implemented. Despite this potential scenario, it is crucial to dispel the misconception that benefits will simply disappear