Mortgage News: Interest rates are on the rise!
Mortgage interest rates are rapidly rising, which is affecting loan demand, particularly refinances. Total mortgage application volume fell 8.1 % last week compared to the previous week, as per the Mortgage Bankers Association’s seasonally adjusted index. For 30-year fixed-rate mortgages with acceptable loan balances ($647,200 or less), the average contract interest rate jumped to 4.50 […]
Telecom Italia issues third profit warning in a year
Telecom Italia (TIM) (TLIT.MI), facing a takeover approach from U.S. fund KKR (KKR.N), has cut the 2021 earnings forecast for its domestic business due to lower-than-expected fixed line revenue from its partnership with DAZN to screen Italian soccer.
Ericsson to buy cloud firm Vonage for $6.2 bln
Mobile telecoms equipment maker Ericsson (ERICb.ST) said on Monday it had agreed to buy cloud communications firm Vonage for $6.2 billion.
Some investors have not got Evergrande unit’s bond interest due Nov 6: sources
Some holders of offshore bonds issued by a unit of developer China Evergrande Group (3333.HK) had not received interest payments due on Nov. 6 by Monday morning in Asia, two people familiar with the matter said.
JPMorgan profit soars on recovery but questions linger over lending outlook, competition
JPMorgan Chase & Co (JPM.N) second-quarter profits jumped 155% as the U.S. economy continued to rebound, but executives warned on Tuesday that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.
S&P 500 and Nasdaq end lower after hitting record highs
The S&P 500 and Nasdaq ended lower on Tuesday after hitting record highs earlier in the session, with investors digesting a jump in consumer prices in June and earnings from JPMorgan and Goldman Sachs that kicked off the quarterly reporting season.
Rising inflation puts Bank of England on the spot
The Bank of England will say on Thursday whether it is worried about a recent jump in inflation, which broke above the central bank’s 2% target and looks set to climb higher as Britain reawakens its economy from its coronavirus slumber.
Alfi Inc shares set to fall from record highs, ‘meme stock’ Torchlight sinks
Shares of software firm Alfi Inc (ALF.O) fell 10% in early deals on Wednesday after more than doubling in value in the previous session, in a move evocative of the so-called “meme stock” frenzy that has gripped equity markets this year.
Analysis: Fed’s “big tent” framework may fray under inflation surge
The U.S. Federal Reserve’s carefully crafted move last year to a jobs-first monetary policy, touted as giving workers their best chance after the pandemic, is being tested by a potentially table-turning rebound of inflation and what’s become a relative rush of policymakers determined not to let it get out of hand.
JPMorgan stockpiling cash, waiting for interest rates to rise -CEO
JPMorgan Chase & Co (JPM.N) Chief Executive Jamie Dimon said on Monday the bank is holding around $500 billion in cash, putting it in a position to benefit from higher interest rates.
