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Stocks, bitcoin’s bounce, Apple’s slide and Costco’s clue
— Stocks and bitcoin climb to new records
— The jobs report was mixed, but will it move the Fed’s rate-cutting hand?
— President Biden touted lower inflation in his State of the Union, but everyday Americans are not really seeing it
— Apple wrapped up a bruising week. How bad is it?
— Former Treasury Secretary Steven Mnuchin is back in the banking business
— Costco gives clues on when its membership fees will cost more
— JetBlue-Spirit Airlines merger hits the skids
NEW RECORDS: The S&P 500 and Nasdaq Composite hit fresh records this week before pulling back, closing lower on Friday and for the week. Ditto for the Dow Jones Industrial Average. In crypto action, bitcoin soared to the $70,000 level Friday as more retail investors piled in. The crypto is now up over 59% this year alone…continue reading here.
VIDEO: Major crypto bull sees bitcoin hitting $100,000.
LIVE PRICES FOR CRYPTOCURRENCIES: HERE
MIXED JOBS REPORT: The U.S. economy added more jobs than expected in February, however the unemployment rate ticked higher. And in another surprise, January’s robust read of 353,000 additions was revised…continue reading here. It’s unclear how the mixed data will be viewed by the Federal Reserve. Just this week, Chairman Jerome Powell reiterated that bringing inflation down needs to happen before anything else…continue reading here.
VIDEO: Is the latest jobs report enough for policymakers to firm up when to begin cutting interest rates?
INFLATION BITES: President Biden touted falling inflation in his State of the Union address. While the headline number is coming down, Americans dining out are still seeing sticker shock…continue reading here.
VIDEO: Americans dish on sky-high prices.
INFLATION – HOW IT STARTED, HOW IT’S GOING
FOLLOW THE FOX BUSINESS DEBT TRACKER: HERE
BRUISED: Apple shares fell 5% for the week, the worst five-day performance since early January. A major fine from the European Union dropped first…continue reading here. Then dismal sales coming out of China hit the tape…continue reading here.
VIDEO: Is Apple’s decline worrisome or a buying opportunity?
EMBATTLED REGIONAL BANK: New York Community Bank (NYCB) got a lifeline from investors, including a group backed by former Treasury Secretary Steven Mnuchin…continue reading here.
VIDEO: Is NYCB too big too fail?
CLUES: Costco gave an update on its membership fees and when they may be hiked higher…continue reading here.
GROUNDED!: Spirit Airlines and JetBlue scrapped their $3.8 billion merger after regulators promised to squash the combo…continue reading here. The Biden administration is also mulling killing Kroger’s $24.6 billion acquisition of Albertson’s…continue reading here.
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Urgent Money Miracle – $2+ EPC! Get Instant 90% Commission Bump
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NEW! Christian Wealth Manifestation – Highly Targeted For Christians!
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Predictions for Mortgage Rates in 2024: What to Expect
As we look ahead to 2024, many homeowners and prospective buyers are wondering what to expect when it comes to mortgage rates. The landscape of the housing market is constantly changing, so it’s important to stay informed about trends and predictions. In this blog post, we will discuss some factors that could impact mortgage rates in 2024 and what homeowners and buyers can expect.
One factor that could impact mortgage rates in 2024 is the overall state of the economy. If the economy is strong and growing, we may see higher mortgage rates as the Federal Reserve looks to combat inflation. On the other hand, if the economy is stagnant or in a recession, we may see lower mortgage rates as the Fed looks to stimulate growth. It’s important to keep an eye on economic indicators such as GDP growth, unemployment rates, and inflation to get a sense of where mortgage rates may be heading.
Another factor that could impact mortgage rates in 2024 is Federal Reserve policy. The Fed plays a key role in setting interest rates, and their decisions can have a ripple effect on mortgage rates. If the Fed decides to raise interest rates in response to inflation, we may see an increase in mortgage rates. Conversely, if the Fed decides to lower interest rates to stimulate growth, we may see a decrease in mortgage rates. Keeping up with the latest news and announcements from the Fed can give homeowners and buyers a sense of where mortgage rates may be heading.
In terms of specific cities and local mortgage companies, it’s important to note that mortgage rates can vary depending on location and lender. For example, in a city like New York City, where real estate prices are high, mortgage rates may be higher compared to a city like Indianapolis, where real estate prices are lower. Additionally, local mortgage companies may offer competitive rates and terms compared to national lenders. For example, in New York City, local lenders like Quontic Bank and CrossCountry Mortgage may offer specialized products and services tailored to the needs of local buyers.
It’s important for homeowners and buyers to shop around and compare rates from multiple lenders to ensure they are getting the best deal. Websites like Bankrate and LendingTree can be helpful resources for comparing rates and terms from multiple lenders. Homeowners and buyers should also consider working with a mortgage broker who can help them navigate the lending process and find the best mortgage product for their needs.
In conclusion, predicting mortgage rates in 2024 is not an exact science, but there are several factors that could impact rates. By staying informed about economic indicators, Federal Reserve policy, and local market trends, homeowners and buyers can make informed decisions about their mortgage. Shopping around and comparing rates from multiple lenders is key to ensuring you are getting the best deal on your mortgage. Whether you’re looking to refinance your existing mortgage or buy a new home, it’s important to stay informed and be proactive in managing your mortgage.
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