Freddie Mac today released the results of its Primary Mortgage Market Survey??, showing the 30-year fixed-rate mortgage averaged 6.35 percent. "Mortgage rates fell again this week due to expectations of a Fed rate cut,? said Sam Khater, Freddie Mac?s Chief Economist.
Preeminent Cash Logistics Company to Exhibit and Speak at Leading Banking Industry Event September 4-5th Operational Security Solutions, a premier provider of end-to-end cash management solutions, today announced that its CEO Scott Solomon will participate in a panel discussion entitled ?Beyond Cash Logistics? at the 2024 PBC Conference in Washington, DC on September 4th.
Thursday?s revised gross domestic product figure was a clear indication the U.S. economy is faring pretty well, according to an economist. ?The GDP revisions show the U.S. economy was in good shape in mid-2024,? Bill Adams, chief economist for Comerica Bank, said Thursday.
Freddie Mac today announced that it has commenced a fixed-price cash tender offer for the purchase of any and all of the STACR? Notes listed in the table below beginning Thursday, August 29, 2024. Freddie Mac has engaged Citigroup Global Markets Inc. and BofA Securities, Inc. as lead dealer managers and Academy Securities, Inc. as co-dealer manager for the Offer.
Editor?s note: This story has been updated to correct the consumer spending figure from the second-quarter GDP report and to state that weekly jobless claims saw an improvement, rather than a cooling in labor market conditions.
The U.S. economy expanded by a robust 3% in the second quarter, a significant acceleration from the 1.4% growth seen in the first quarter and representing an upward revision from the government?s initial estimates. This outcome continues to underscore the U.S. economy?s strong resilience, even amid persistent high interest rates, marking the eighth consecutive quarter of growth.
The next Personal Consumption Expenditure inflation report, closely watched by the Federal Reserve, will be released Jerome Powell hinted at a potential rate cut, suggesting ?the time has come for policy to adjust. He expressed increased confidence that inflation is moving toward the Fed?s target.
The bonds will fund infrastructure in one of 21 community development districts that have built the age-restricted 55-and-up Villages to more than 76,000 homes.
Raphael Bostic, President of the Federal Reserve Bank of Atlanta expressed his views on a potential rate cut on Wednesday. What Happened: Bostic acknowledged that the inflation rate has decreased more than expected, while the unemployment rate has risen. He emphasized the need for further confirmation from upcoming economic reports before the Fed?s meeting in September.
The Investment Company Institute reported more than $1.3 billion of inflows into muni mutual funds. The last time inflows topped $1 billion, per ICI data, was for the week ending Feb. 7. LSEG Lipper has reported weeks with $1 billion plus inflows on July 31 and May 8.
ICE's and MarketAxess's (MKTX) networks are "complementary," said Peter Borstelmann, president of ICE Bonds, as the former is "deep and rich" in the retail wealth segment, while the latter is "deep and rich" in the institutional space.
Freddie Mac? Multifamily today published an overview of its policy framework to require minimum lease standards at multifamily properties with a new enterprise-backed loan. The policy framework, which was published jointly by both Freddie Mac and Fannie Mae on their respective websites today, includes an overview of implementation, monitoring and enforcement provisions.
CINCINNATI, Aug. 28, 2024 -- Core Specialty Insurance Holdings, Inc. and its subsidiaries announced today that AM Best has upgraded the Financial Strength Ratings for the Company?s property and casualty insurance subsidiaries to A, Financial Size Category of XIII, and affirmed the Financial Strength Rating of A- of Standard Life and Accident Insurance Company.
The Federal Reserve will begin a series of ?practically aggressive? interest rate cuts in September that will total 175 basis points by early spring 2025, according to?Rajeev Dhawan, director of the?Economic Forecasting Center?at Georgia State University?s J. Mack Robinson College of Business.
Tensquare and its partner Karl Jentoft were charged for acting as an unregistered municipal advisor in eight offerings for charter schools in Minnesota.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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