The recent report on the sales of previously owned homes in the housing market revealed a 1.9% decrease in April compared to March. This unexpected decline comes at a time when experts were anticipating a slight increase in sales. Additionally, sales were down by 1.9% compared to April of the previous year, indicating a downward
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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
The Biden administration recently announced that it will forgive $7.7 billion in student loans for over 160,000 borrowers. This move is aimed at reducing the burden of education debt on households and improving the overall financial well-being of these individuals. One of the key reasons for this relief is the enhancements made by the U.S.
Chinese electric car company Xpeng has recently seen a significant increase in its shares following the announcement of an improvement in its profit margin. The company’s Hong Kong-listed shares rose more than 13% in morning trade on Wednesday, with U.S.-listed shares also climbing by nearly 6% after reporting first quarter results. Xpeng reported a 5.5%
In the United States, the unequal distribution of wealth can have long-lasting effects, especially when it comes to children. Lawmakers are now considering the idea of implementing federal children’s savings accounts as a potential solution to this issue. One proposed plan, known as the 401Kids Savings Act, aims to create savings accounts for all newborns,
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
Macy’s recent fiscal first-quarter earnings report showed positive results, with earnings per share coming in at 27 cents adjusted versus the 15 cents expected by Wall Street analysts. Additionally, the retailer’s revenue of $4.85 billion was in line with expectations, pointing to early signs of momentum in its turnaround strategy. Despite this positive achievement, Macy’s