Mortgage rates shoot to 2-month high after hot inflation report

A “For Sale” sign outside a house in Albany, California, on May 31, 2022. David Paul Morris | Bloomberg | Getty Images Mortgage rates shot higher Friday after a monthly government report on wholesale prices showed inflation is still persistent and hotter than most analysts had expected. The average rate on the 30-year fixed mortgage … Read more

L.A. Airbnb hosts are charging higher rates and raking in big payouts amid city crackdown

Running an Airbnb in L.A. has never been more profitable. As the city tries to crack down on illegal listings, and advocacy groups complain about the company’s effect on L.A.’s housing crisis, hosts are charging higher rates than ever while raking in bigger and bigger payouts. But don’t expect them to talk about it. Data … Read more

Mortgage rates surge higher again, causing homebuyers to pull back

Rooftops of homes in a gated residential community are seen in Pico Rivera, California on January 18, 2024.  Frederic J. Brown | AFP | Getty Images After a brief reprieve in December and January, mortgage rates are moving higher again, and that is taking its toll on mortgage demand. Total mortgage application volume fell 2.3% … Read more

Allstate Announces January 2024 Catastrophe Losses and Implemented Rates

NORTHBROOK, Ill., February 15, 2024 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of January of $276 million or $218 million, after-tax. Estimated January catastrophe losses of $325 million were primarily driven by two events that comprised approximately 80% of the losses, partially offset by favorable reserve reestimates for prior events. “Allstate continues … Read more

Exchange Rates and the Purchasing Power of Pesos

In my previous post, I described what I consider to be the two most important prices in the Argentine- or any!-economy. Having indulged in such extended preliminaries, let us address  what is going on in Argentina nowadays. Soon after the inauguration of Javier Milei as the new president of Argentina, his government devalued the official … Read more

Mortgage rates back over 7%, as stronger economic data rolls in

This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized rate of 4.07 million units, the National Association of … Read more

Weekly mortgage demand from homebuyers is flattening as interest rates rise

Thianchai Sitthikongsak | Moment | Getty Images Mortgage demand is struggling to contend with what appears to be another upswing in interest rates. Homebuyers in particular are pulling back. Total mortgage application volume rose 3.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was all due … Read more

Best Fixed Deposit Rates yield 3.55% – Better buy than T-Bills now? How to split cash between T-Bills, Fixed Deposit and Savings Accounts?

A lot of you have asked where to park cash today. How do you know how much cash to put into each of the following options: T-Bills Fixed Deposits Money Market Funds High Yield Savings Accounts And how to best approach the issue? So I figured I would share some thoughts on this, and take … Read more

What the Federal Reserve’s next move means for the rates you pay

The Federal Reserve announced Wednesday it will leave interest rates unchanged, setting the stage for rate cuts to come and paving the way for relief from the combination of higher rates and inflation that have hit consumers particularly hard.  Although Fed officials indicated as many as three cuts coming this year, the pace that they trim interest … Read more

Warren pushes Fed Chair Powell to cut rates, ease housing pressure

Senator Elizabeth Warren, a Democrat from Massachusetts, left, speaks with Jerome Powell, chairman of the U.S. Federal Reserve, during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Sept. 28, 2021. Kevin Dietsch | Bloomberg | Getty Images Sen. Elizabeth Warren, D-Mass., and three other Democratic lawmakers are pushing … Read more