SunPower, once a leading rooftop solar installer, has recently filed for bankruptcy after facing a multitude of challenges. The company’s stock plummeted by 32% to 55 cents per share, marking a staggering 90% drop in value this year. One of the primary factors contributing to SunPower’s downfall was the burden of high interest rates, which
Inventory
The current real estate market is showing signs of promise for potential buyers, with a recent report indicating a slight improvement in home affordability for the summer season. According to data from the Mortgage Bankers Association, the median new mortgage payment in June decreased by 2.4% compared to May, dropping from $2,219 to $2,167. This
The sales of previously owned homes in the United States dropped by 5.4% in June compared to the previous month, totaling 3.89 million units on a seasonally adjusted, annualized basis according to the National Association of Realtors. This decrease also represents a 5.4% decline compared to June of the previous year. The slow pace of
The second-quarter results for Detroit automakers are highly anticipated on Wall Street, with General Motors expected to shine brighter than its counterparts. Analysts predict a strong adjusted profit of $2.75 per share for GM, representing a 44.2% increase from the previous year. Additionally, GM is forecasted to report $45.46 billion in revenue, up by 1.6%
In light of the increasing trade tensions globally, top Chinese officials have reiterated the importance of focusing on internal affairs to ensure the stability and progress of the national economy. Han Wenxiu, deputy director at the Chinese Communist Party’s central committee office for financial and economic affairs, emphasized the need for concentrating on three key
One of the major obstacles that potential homebuyers face in the United States is the lack of access to affordable credit. According to a 2022 fact sheet from the Office of the Comptroller of the Currency’s Project REACh, an estimated 50 million Americans are considered “credit invisible”. These individuals do not have a credit file
The mortgage market experienced a significant shift last week as mortgage rates plummeted to their lowest level since March. This led to a sudden surge in demand for refinancing among homeowners looking to take advantage of the favorable rates. According to the Mortgage Bankers Association, applications to refinance a home loan soared by 15% compared
Adidas shares jumped up after the company announced a significant increase in its full-year 2024 earnings guidance. This news came following a strong performance in the second quarter, surpassing expectations. The German sportswear giant is now anticipating its operating profit to hit around 1 billion euros by the end of 2024, a notable increase from
The housing market in Delaware seems to be offering average affordability, but with the added benefit of very low property taxes. This combination makes it an attractive option for homebuyers looking for a good deal. With an effective tax rate of less than half a percent, Delaware homeowners are paying one of the lowest rates
Over the past couple of years, inflation in the United States has slowed down significantly, even leading to some prices decreasing for consumers – a phenomenon known as deflation. This change in price dynamics has largely been driven by the normalization of supply and demand dynamics that were disrupted during the pandemic. One of the