Today’s News Synopsis:
Mortgage rates sank this week, with the average rate for a 30-year fixed home loan going from 6.73% last week to 6.47% for the week ending Aug. 8, according to Freddie Mac.
In The News:
Realtor.com – “Mortgage Rates Plunge To 6.47%—the Lowest in Over a Year—as ‘Buyer-Friendly Trend’ Revs Up“ (08-08-24)
““Mortgage rates plunged this week to their lowest level in over a year following the likely overreaction to a less than favorable employment report and financial market turbulence for an economy that remains on solid footing,” Sam Khater, Freddie Mac’s chief economist, said in a statement”
uDirect IRA – “What Asset Classes Make Sense in 2024” (08-01-2024)
“As we navigate the financial landscape of 2024, investors are increasingly seeking ways to diversify and maximize returns within their Self-Directed Individual Retirement Accounts (SDIRAs).”
CNBC – “401(k) rollover advice rule is at risk. Here’s what retirement savers need to know” (08-13-24)
“The Department of Labor issued a so-called “fiduciary” rule in April governing advice to retirement investors, such as those in 401(k) plans and individual retirement accounts.”
Forbes – “Only One Interest Rate Cut Expected By September—As Emergency Cut Potential Evaporates” (08-12-2023)
“The probability of a 50 basis-point cut is now 47.5%, according to CME Group data, which tracks trading of futures contracts speculating on the direction of monetary policy.”
Redfin – “U.S. Housing Market Nears $50 Trillion in Value as Number of Trillion-Dollar Metros Doubles” (08-08-2023)
“There are now eight trillion-dollar metros, up from four a year ago, with Anaheim, CA, Washington, DC, Chicago and Phoenix joining the list of places where the total value of homes tops $1 trillion.”
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