Silicon Valley Bank and Signature Bank Collapse May Lower Mortgage Rates Helping the Housing Market
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Will mortgage interest rates fall in May?
If you're waiting for mortgage rates to drop, you could be in for a longer wait than anticipated. Here's why.CBS News - Top stories - Mortgage -
Why hundreds of U.S. banks may be at risk of failure
Of about 4,000 banks, 282 banks face threats from commercial real estate and higher interest rates, according to a study by Klaros Group.CNBC - Business -
House prices fall as lenders raise mortgage rates
The Nationwide says the average cost of a home was down 4% on the peak seen in the summer of 2022.BBC News - Top stories - Mortgage -
Bank of Canada Getting Closer to Rate Cuts, Tiff Macklem Says
Bank of Canada Gov. Tiff Macklem said officials are confident that inflation will continue to decelerate, and the central bank is getting closer to a point where it is able to cut interest rates.The Wall Street Journal - World -
The Fed isn’t cutting rates, but these four banks are already paring rates on high-yield savings accounts
The Federal Reserve’s benchmark interest rate is staying put for now, but a handful of large banks are starting to trim the rates they offer on their high-yield savings accounts.MarketWatch - Business - Federal Reserve -
Fearing Trump’s tariffs, one bank has ratcheted up rate forecasts — in Australia
In the world of finance everything’s connected, including the likelihood of President Donald Trump returning to office and Australian interest rates.MarketWatch - Business - Australia -
Naming and shaming banks is a regulatory insight too far
The Financial Conduct Authority already has deterrence tools at its disposalFinancial Times - Business -
Regulators Seize Republic First, a Troubled Philadelphia Bank
The relatively small bank, the first to fail this year, will have its deposits assumed by another Pennsylvania lender, Fulton Bank.The New York Times - Business -
Issa Amro’s Nonviolent Resistance in the West Bank
Issa Amro, who has been arrested and beaten for simple acts of defiance, is trying to pursue nonviolent resistance in the West Bank at a time when violence has become inescapable.The New York Times - Top stories -
What Fed Rate Moves Mean for Mortgages, Credit Cards and Student Loans
Higher rates benefit those who can save, but for borrowers falling rates would reduce bills on credit cards, home equity loans and other forms of debt.The New York Times - Business - Federal Reserve -
BBVA approaches Sabadell to create €70bn Spanish banking giant
Tie-up between two lenders would near valuation of SantanderFinancial Times - Business -
BBVA/Sabadell offers a test case for more European bank consolidation
Nearly three-quarters of the larger lender’s revenues come from outside SpainFinancial Times - Business -
BBVA/Sabadell offers a test case for more European bank consolidation
Nearly three-quarters of the larger lender’s revenues come from outside SpainFinancial Times - World -
BBVA/Sabadell offers a test case for more European bank consolidation
Nearly three-quarters of the larger lender’s revenues come from outside SpainFinancial Times - World -
She Was Convicted of Making a Bank Her Personal ATM---and Sentenced to Death
The case became one of the most high profile in a relentless anticorruption campaign in Vietnam dubbed the “Blazing Furnace.”The Wall Street Journal - World -
BBVA/Sabadell offers a test case for more European bank consolidation
Nearly three-quarters of the larger lender’s revenues come from outside SpainFinancial Times - World -
Do not ignore Africa, World Bank head tells wealthy nations
Call comes as continent’s leaders push for $120bn in aid to boost development and battle climate change threatFinancial Times - Business -
Do not ignore Africa, World Bank head tells wealthy nations
Call comes as continent’s leaders push for $120bn in aid to boost development and battle climate change threatFinancial Times - World -
She Was Convicted of Making a Bank Her Personal ATM---and Sentenced to Death
The case became one of the most high profile in a relentless anticorruption campaign in Vietnam dubbed the “Blazing Furnace.”The Wall Street Journal - World -
Cannabis Laws Are Changing, but Pot Merchants Still Can't Find Banks
Marijuana may become a less regulated Schedule III drug under federal regulations, but banking access remains an obstacle.Inc. - Business -
Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates
The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year.CNBC - Business -
Adjustable-rate mortgage demand surges to highest level this year as 30-year rate keeps climbing
Mortgage applications fell 2.3% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 7.29%.MarketWatch - Business -
Stocks Turn Higher After Powell Comments
Stocks were turning higher following the Federal Reserve’s widely expected decision to keep rates steady.The Wall Street Journal - World -
Milei scores legislative victories in Argentina’s lower house
Tax and state reform bills will face tough challenge in the senate as libertarian president seeks to advance his agendaFinancial Times - Business - Argentina -
Milei scores legislative victories in Argentina’s lower house
Tax and state reform bills will face tough challenge in senate as libertarian president seeks to advance his agendaFinancial Times - World - Argentina -
Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller
It marked another increase after the prior month's annual gain of 6%, and the fastest rate of price growth since November 2022.CNBC - Business -
TD Bank Sets Aside $450 Million for Possible U.S. Anti-Money Laundering Penalties
Canada’s second-largest bank by market capitalization said the provision is related to talks with one U.S. regulator.The Wall Street Journal - World -
HSBC Chief Executive Noel Quinnunexpectedly said he would retire, leaving the bank without a clear successor.
HSBC Chief Executive Noel Quinn unexpectedly said he would retire, leaving the bank without a clear successor.The Wall Street Journal - World -
Interest earned by big UK high street banks on BoE reserves surges to £9.2bn
MP highlights scale of lenders’ ‘unanticipated income’ in 2023, but acknowledges some progress towards better savings rates for consumersFinancial Times - Business - United Kingdom -
'Basel III' bank rules could pose unexpected threat to Biden's green energy plans
Renewable energy groups and congressional Democrats are raising alarms about potential harm to clean energy goals from a proposed banking regulation.CNBC - Business - Joe Biden -
Kenya floods: tourists evacuated from Maasai Mara after river bursts banks
Kenya Red Cross rescues more than 90 people from hotels and lodges as heavy rainfall continues. Scores of tourists have been evacuated by air from Kenya’s Maasai Mara national reserve after more than a dozen hotels, lodges and camps were flooded ...The Guardian - World -
White House OMB director on foreign aid, Key Bridge collapse and more
President Biden, Vice President Kamala Harris and other White House officials have been on the campaign trail touting the administration's economic achievements. However, Americans in several battleground states say they are not satisfied with the ...CBS News - Top stories -
High Fed Rates Are Not Crushing Growth. Wealthier People Help Explain Why.
High rates usually pull down asset prices and hurt the housing market. Those channels are muted now, possibly making policy slower to work.The New York Times - Business - Federal Reserve -
Argentina president’s scaled-down economic package wins approval in lower house
Argentina President Javier Milei’s scaled-back package of reform measures designed to turn around an economy with the highest rate of inflation in the world won approval from in the lower-house of congress.MarketWatch - Business -
Milei Reforms Head to Argentina Senate as Lower House Signs Off
Yahoo News - World -
The U.S. birth rate has never been lower. Here’s what that means for stocks.
Americans aren’t having as many kids, but the economy can handle that — for now.MarketWatch - Business -
Bitcoin extends its slide to start May, falling to $57,000 as Fed leaves rates unchanged
Bitcoin slid to its lowest level in over two months to kick off May, as the Federal Reserve held interest rates steady.CNBC - Business - Federal Reserve -
Defaults are reaching historic levels in the office market as a growing number of owners capitulate to high interest rates and weak demand.
Defaults are reaching historic levels in the office market as a growing number of owners capitulate to high interest rates and weak demand.The Wall Street Journal - World -
Fed holds interest rates at 23-year high as inflation continues to push back timing of a rate cut
The Federal Reserve said Wednesday it will hold interest rates at a 23-year high, making borrowing tougher for everything from car loans to mortgages.CNN - Top stories - Federal Reserve -
The Fed would only cut rates to help the U.S. service its soaring debt, fund manager says
The reason the Fed may be tempted to cut rates would be to help the U.S. cover interest payments on the national debt, according to fund manager Freddie Lait.CNBC - Business