In the past week, mortgage rates hit the lowest level since March, leading to a significant increase in demand for refinancing. Applications to refinance a home loan rose by 15%, reaching the highest level since August 2022. This surge in demand was 37% higher compared to the same week last year, despite mortgage rates remaining
The International Monetary Fund recently issued a warning regarding the escalating risks of inflation, signaling a potential obstacle to multiple interest rate cuts by the Federal Reserve in the current year. According to the IMF’s World Economic Outlook update, there has been a noticeable slowdown in global disinflation momentum, indicating challenges ahead. The report specifically
In recent years, workplace engagement has been on the rise, but current trends show that this growth has come to a standstill. According to a 2023 Gallup poll, only one-third of employees are actively engaged in their work, while roughly 50% are not engaged at all. Another 16% are actively disengaged, leading to a significant
Gold prices reached a record high on Tuesday, with futures climbing 1.5% to $2,465.30, surpassing the previous high of $2,454.20 set in May. Spot gold also hit an all-time high of $2,465.19 during the session. The surge in gold prices can be attributed to the growing expectations of an interest rate cut in September, which
Small-cap stocks have seen a surge in recent times, taking the baton from megacap technology shares. This shift has propelled these smaller companies to the forefront of the bull market. The benchmark index for small caps, the Russell 2000, experienced a 1% increase on Tuesday, reaching its highest level since January 2022. If the index
Affordability in Delaware gets a boost from very low property taxes, making it attractive to potential homebuyers. Despite average housing prices, the effective property tax rate is one of the lowest in the country at less than half a percent. This makes Delaware a good option for those looking for a high return on investment.
In an effort to improve efficiency and reduce wait times, the Social Security Administration is rolling out updates to their online services. This means that if you have an existing “my Social Security” account created before September 18, 2021, it is crucial that you log in to make the necessary transition to a Login.gov account.
Bank of America reported second-quarter revenue and profit that exceeded expectations. The earnings per share came in at 83 cents, surpassing the 80 cents estimated by LSEG. The revenue also outperformed estimates, reaching $25.54 billion compared to the $25.22 billion expected figure. However, the profit did experience a 6.9% decline from the previous year, landing
New Balance has recently announced a significant multiyear deal with the Women’s National Basketball Association (WNBA), adding to the list of supporters of women’s sports. Through this agreement, New Balance is set to become an official partner of the WNBA, showcasing broadcast, digital, and retail content that will feature promising Los Angeles Sparks rookie forward,
Morgan Stanley recently announced their second-quarter earnings report, revealing that both profit and revenue surpassed analysts’ estimates. The company reported earnings of $1.82 per share, higher than the $1.65 LSEG estimate. Additionally, revenue for the quarter reached $15.02 billion, exceeding the $14.3 billion estimate. These results demonstrate a significant improvement from the previous year, with