Mortgage interest rates experienced a significant decline, resulting in a surge of loan applications. According to the Mortgage Bankers Association, the overall volume of mortgage applications increased by 10.4% compared to the previous week. This article explores the implications of this rate drop on the housing market. The average contract interest rate for 30-year fixed-rate
In 2023, higher interest rates brought a pleasant surprise to savers, providing them with the best rates on their cash in years. While the possibility of future rate cuts by the Federal Reserve exists, 2024 is still promising in terms of returns on cash. This article critically analyzes the current situation and highlights the opportunities
Senior lawmakers recently unveiled a $78 billion bipartisan tax agreement that includes retroactive boosts to the child tax credit, potentially impacting families filing their tax returns this season. The proposed legislation, while promising, still faces hurdles that could impede its implementation. Under the plan, which applies retroactively to 2023, the child tax credit will be
OpenAI CEO Sam Altman argues that the widespread fears of artificial intelligence (AI) dramatically reshaping and disrupting the world are exaggerated. Speaking at the World Economic Forum in Davos, Altman emphasized that the impact of AI on society and jobs is often overstated. Specifically, he focused on the concept of artificial general intelligence (AGI), which
Restaurant Brands International, the parent company of Burger King, has announced its acquisition of Carrols Restaurant Group, the largest Burger King franchisee in the U.S. This strategic move is expected to bring about significant changes for Burger King as it aims to revitalize its business. The deal, valued at approximately $1 billion in cash, will
As we head into 2024, it is becoming increasingly challenging to predict what might happen in markets, economies, and businesses. The stock market’s global boom in 2023 has left us wondering about the uncertainties that lie ahead. Additionally, the upcoming election in November adds another layer of complexity to the market. Nevertheless, we must embrace
Morgan Stanley recently released its fourth-quarter revenue report, which surpassed expectations and showcased the strength of its investment banking division. The results showed promising numbers that delighted investors and caused the share value to rise by 2% in premarket trading. Despite not meeting Wall Street’s projected earnings per share of $1.01, Morgan Stanley’s actual earnings
Dubai’s property boom, which gained momentum in the years following the Covid-19 pandemic, has experienced a significant shift in the source of demand. While previously driven by Russian investors, the growth in demand is now coming from China, according to DAMAC Chairman Hussain Sajwani. This change can be attributed to various factors, including investor-friendly reforms,
When it comes to handling your old 401(k) after leaving a company, there are several options to consider. Whether you decide to keep the money in the current plan, roll it over into an IRA, or buy an annuity, it is crucial to seek professional advice. Understanding the guidance provided by financial professionals is essential
The CEO of Circle, the company responsible for the popular stablecoin USD Coin, Jeremy Allaire, believes that 2024 may finally be the year when laws for stablecoin issuers come into effect. With the stablecoin market currently valued at $135.3 billion, it is noteworthy that this sector remains largely unregulated. While various jurisdictions worldwide have started