A real estate agent walks into a home for sale in Lancaster, Ohio.Ty Wright | Bloomberg | Getty ImagesSales of previously owned homes rose 3.1% in January to 4 million units on a seasonally adjusted annual basis, according to the National Association of Realtors. Sales decreased by 1.7% year-on-year.The count depends on closings, so contracts will likely be signed in November and December, when mortgage interest rates have retreated from their October high of 8%. By mid-December, interest rates had reached a recent low of around 6.6%. Today they are back over 7%, according to Mortgage News Daily.“While home sales…
Author: ricardofrancois
Stay informed with free updatesSimply sign up for the myFT Digest of UK interest rates – delivered straight to your inbox.A number of UK lenders have announced rises in mortgage interest rates in a sign that the race towards more competitive offers is slowing, as the prospect of imminent interest rate cuts from the Bank of England fades. HSBC has become the latest bank to raise residential mortgage rates after similar moves by Santander, NatWest and Nationwide in recent weeks. The rise in mortgage costs comes as the cost of living crisis continues as Prime Minister Rishi Sunak seeks to…
The Mercedes-AMG GT 43 4MATIC+ is on display at the Brussels Motor Show on January 9, 2020 in Brussels, Belgium. Sjoerd van der Waal | Getty Images News | Getty ImagesMercedes Benz Shares rose about 5% on Thursday after the German automaker beat fourth-quarter earnings expectations and announced a new stock buyback program, despite warning of “exceptional” risks in the coming year.Fourth-quarter earnings before interest and tax (EBIT) were €4.33 billion ($4.7 billion), slightly ahead of consensus expectations, bringing the full-year figure to €19.66 billion. Revenues rose 2% in 2023 to 153.2 billion euros from 150 billion the previous year.The…
InvolvedShare the article via FacebookShare the article via TwitterShare article via LinkedInShare article via emailRobert Rivkin, co-founder and CEO of Compass, joins “Squawk on the Street” to discuss whether real estate activity is what Rivkin wants to see heading into spring, Rivkin's thoughts on the 30-year fixed rate mortgage, and whether concessions Offered to buyers will do that. Discourage homeowners from selling.03:40Thursday, February 22, 202411:27 AM EDT
Boeing: The planemaker has changed leadership of its beleaguered 737 MAX program. “It doesn't matter. Boeing, leadership from the top is the only leadership the government cares about,” Jim Cramer said Thursday. Dow Jones Boeing stock fell slightly. Etsy: Shares of the online marketplace for handmade goods fell 8% on an earnings loss and softer-than-expected guidance. “I hope activists can do something there,” Kramer said. “But there is no growth in gross merchandise. They have bottomed out. I don't think they have the right to demand anything at this point.” Moderna: The drugmaker reported a surprise profit and higher-than-expected revenue.…
CNBC's Jim Cramer said Thursday that he believes Jensen Huang — co-founder and CEO of leading AI chipmaker Nvidia — has a bigger vision than billionaire entrepreneur Elon Musk, whose portfolio of companies includes Tesla, rocket maker SpaceX and Brain-X. . Technology startup Neuralink. “I think Musk can see what's around the corner, but I think Jensen is thinking about the legacy of changing the whole paradigm about the way the world works,” Cramer said Thursday on “Squawk on the Street.” Cramer's Charitable Trust, the portfolio used by CNBC Investing Club, has long been invested in Nvidia. Cramer has embraced…
Turkish flag over DenizBank building. Türkiye is expected to go to the polls on Sunday.Ismail Ferdous | Bloomberg | Getty ImagesTurkey's central bank kept its key interest rate on Thursday at 45% despite rising inflation after eight straight months of rises.The move was widely expected as the bank indicated in January that its 250 basis point increases would be its last for the year, even though inflation now stands at around 65%.Consumer prices in the country of 85 million people jumped last month by 6.7% compared to December – their biggest monthly jump since August – according to Turkish Central…
Stay informed with free updatesSimply subscribe to myFT Digest for Real Estate – delivered straight to your inbox.Finance Minister Jeremy Hunt is setting out plans for a 99 per cent mortgage scheme ahead of the Budget, according to officials, as the Conservatives seek to reassure voters that the party is on the side of homebuyers. The scheme will only require homebuyers to put down a 1 per cent deposit to purchase their first home, with the government acting as backer for the loan. The proposals aim to support people struggling to get a place on the housing ladder. Prime Minister…
Tesla Gigafactory Berlin-Brandenburg employees work on a production line for a Model Y electric car on March 20, 2023.Patrick Bluel | Image Alliance | Getty ImagesElectric vehicle maker Tesla It failed to get a vote among local residents in favor of allowing a large factory expansion of the company's battery and automotive assembly plant in Brandenburg, Germany.German state-owned broadcaster DW first reported on the vote and that Tesla needed to cut down nearly “250 acres of forest in the rural community of fewer than 8,000 residents near a nature conservation area” in order to expand.Tesla's expansion plans in Gruenheide, which…
Former US President Donald Trump points out the day of his court hearing on charges of falsifying business records to cover up a payment to a porn star before the 2016 election, in the New York State Supreme Court in Manhattan, New York, on February 15, 2024.Andrew Kelly | ReutersFormer President Donald Trump is preparing to fight a huge fine in a New York business fraud case that threatens to wipe out most of the money he says he has on hand.But first he has to secure a backing – and that may not be easy.Trump was ordered on Friday…