The recent surge in home prices, rising by more than 40% since the start of the pandemic, should have prompted homeowners to consider refinancing. However, the current scenario has seen a decline in applications for refinancing for the fourth consecutive week. Mortgage Bankers Association’s seasonally adjusted index reported a 2% drop in applications, with interest
In June, China experienced an unexpected rise in consumer price inflation, increasing by only 0.2% from the previous year. This was below expectations, as analysts had predicted a 0.4% year-on-year increase. The producer price index, on the other hand, fell in line with forecasts, dropping by 0.8% from a year ago. These contrasting trends in
Inflation may be on the decline, but the reality is that prices are still high, and the situation is not expected to change any time soon. While this may seem like good news for the economy, the truth is that the cost of many goods and services remains elevated, posing affordability challenges for consumers in
The current state of the housing market is puzzling, to say the least. Supply levels are reaching unprecedented highs, especially in the newly built homes sector. However, the numbers do not tell the full story due to the unique dynamics of the current market. This shift in the supply-demand balance can be traced back to
In a recent announcement, Athletic Brewing Company revealed that it has secured an additional $50 million in equity financing in a round led by General Atlantic. The company’s founder and CEO, Bill Shufelt, expressed his optimism about the partnership with General Atlantic, mentioning that the investment is expected to increase significantly in the future. This
One of the most popular strategies for reducing taxes on pretax retirement account withdrawals is Roth individual retirement account (IRA) conversions. By transferring funds from a traditional IRA to a Roth IRA, individuals can enjoy tax-free growth on their investments in the future. However, one way to mitigate the immediate tax hit associated with these
BP experienced a decline in shares on Tuesday following the announcement of an expected impairment of up to $2 billion in the second quarter. The company indicated that lower refining margins and weak oil trading performance will impact its second-quarter results, set to be released on 30 July. The drop in shares amounted to 2.6%
San Francisco is facing a major struggle in its commercial real estate market, with the vacancy rate for office spaces reaching a record of 34.5% in the second quarter. This is a significant increase from the previous quarters and years, with the average asking rent dropping to the lowest it has been since late 2015.
As President Joe Biden faces a critical juncture in his presidency, there are growing doubts about his potential reelection bid. According to Stifel, there is a significant 40% chance that Biden will decide not to seek another term in office. This assessment comes as Congress returns from its Fourth of July recess, marking a pivotal
As you progress through your career and start thinking about retirement, it is crucial to have a clear understanding of where you are investing your money. Financial experts emphasize the importance of being aware of the tax implications associated with different types of investment accounts. Many individuals have a significant portion of their savings tied
