As the Federal Reserve continues to raise interest rates, many Americans are scrambling their financial plans. On Wednesday, the Federal Reserve raised the benchmark federal interest rate by 0.75 percentage points. As a result, financial advisors say that some money decisions, such as credit card payments should be processed with greater urgency. Others, such as … Read more
As the Federal Reserve continues to raise interest rates, many Americans are scrambling their financial plans. On Wednesday, the Federal Reserve raised the benchmark federal interest rate by 0.75 percentage points. As a result, financial advisors say that some money decisions, such as credit card payments should be processed with greater urgency. Others, such as … Read more
As the Federal Reserve continues to raise interest rates, many Americans are scrambling their financial plans. With another Fed rate hike expected Wednesday, financial advisers say some money decisions, like paying off credit cards, should be treated with greater urgency. Others, such as buying a home, may be better off delaying, they say. “It’s time … Read more
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email notification. Singer and actress Cher is listing her longtime home in Malibu, California, for $85 million. Cher in 2022. Photo: Chris Pizzello/Invision/Associated Press The Italianate Renaissance-style property, built in 1999, sits on … Read more
HONG KONG—The bottom has fallen out of the market for bonds from Chinese property developers. Dollar bond prices of property companies in China have fallen to new lows, with some trading below 10 cents on the dollar. It reflects a loss of investor confidence in the sector, after a series of bond defaults shortchanged international … Read more
HONG KONG—The bottom has fallen out of the market for bonds from Chinese property developers. Dollar bond prices of property companies in China have fallen to new lows, with some trading below 10 cents on the dollar. It reflects a loss of investor confidence in the sector, after a series of bond defaults shortchanged international … Read more
America’s housing market is getting hammered, and that seems like it should chill the boom in home renovation. But, even though spending seems sure to slow, there is reason to think it might not buckle. The rapid ascent in mortgage rates has turned the switch on housing from hot to cold. The number of previously … Read more
Rising inflation has already strained homebuyers, drivers at the gas pump and people buying plane tickets. Now it’s also coming to shoppers in the Halloween candy aisle. Candy prices are up more than 13% from a year ago, according to the Labor Department, the biggest annual jump on record for candy. Rising labor costs and … Read more
The Federal Housing Finance Agency said Monday that it will require lenders that use credit scores for mortgage underwriting to use scores from both Fair Isaac Corp., FICO 1.52% the creator of FICO credit scores, and its competitor VantageScore Solutions LLC. Until now, mortgage lenders had to gauge most borrowers using only FICO scores if … Read more
Until now, mortgage lenders had to measure most borrowers using only FICO scores if they wanted to sell a loan to Fannie Mae or Freddie Mac. Photo: David Paul Morris/Bloomberg News NASHVILLE, Tenn. – The FICO score’s years-long hold on the mortgage market is coming to an end. The Federal Housing Finance Agency said Monday … Read more