Mortgage Interest Rates Review
United Mortgage Nation 7/16/2024
30 yr fx (%) | 15 yr fx (%) | FHA
(%) |
10 yr Tr Y (%) | 5 yr Arm (%) | 7 yr Arm (%) | |
A year ago | 6.999 | 6.125 | 6.499 | 3.980 | 6.999 | 6.999 |
A month ago | 6.999 | 6.250 | 6.249 | 4.441 | 6.999 | 6.999 |
Last week | 6.899 | 6.150 | 6.299 | 4.279 | 6.899 | 6.899 |
This week | 6.799 | 5.999 | 6.125 | 4.229 | 6.799 | 6.799 |
Federal Fund Rate: 5.25 -5.50% Prime Rate: 8.25 – 8.50%
NY Manhattan, Rental place is hard to get
Korea Daily 7/12/24(Fri)
- According Elliman and Appraisal Company Miller, 24% of residential lease is done by bidding which is the highest since data collection started in 2021. Also average DOM is 24 days after the listing which is fastest record. The rent is 1.4% higher than the listed rent price.
- Some real estate agents put a little bit lower listing price so that more bidding can be created. Many potential renters are so tied to look around rental places and offer higher price than listing rent to get a place.
- Median rent for new lease is $4300 in June which is the same as last year, and increased $50 from May. Usually rental shows high peak traffic in July and August.
Evictions Rise Across Big Cities In Sunbelt
선 벨트 지역에, 세입자 강제 철거가 늘고 있다
WSJ 7/16/24(Tue)
- Eviction filings over the past year in a half-dozen cities and surrounding metropolitan areas are up 35% or more compared with pre-2020 norms, according to the Eviction Lab, a research unit at Princeton University.
- This includes Las Vegas, Houston, and in Phoenix, where landlords filed more than 8,000 eviction notices in January. That was the most ever in a single month for the county that includes the Arizona capital. Phoenix eviction court hearings often run for less than a minute.
- Overall, eviction notices were up 15% or more compared with the period before the pandemic for 10 of the 33 cities tracked by the Eviction Lab, which looked at filings over the past 12 months.
Monthly eviction filings
WSJ 7/16/24
States Capitulate to Home Insurers’ Demand
주정부, 보험 회사의 요구에 억지로 승복…
WSJ 7/12/24(Fri)
- Home insurers are pushing for big rate increases and weakened consumer protections and increasingly getting what they ask for. State regulators across the U.S. appear to be buckling to industry demands for fear that insurers will pack up and exit their regions, leaving residents with few coverage options.
- States are giving home insurers almost everything they ask for on rates, an analysis conducted for The Wall Street Journal suggests. The average state-approved increase since the start of last year is just 0.2 percentage point below the increase requested by the industry, according to the analysis by S& P Global Market Intelligence.
- Florida addressed one of the biggest complaints from insurers by making it harder for consumers to sue the companies.
Powell Signals Interest-Rate Cut is Closer
연준의장, 이자률 내리기가 가까움을 시사
WSJ 7/10/24(Wed)
- Federal Reserve Chair Powell made a subtle but important shift that moved the central bank closer to lowering interest rates when he suggested Tuesday that a further cooling in the labor market could be undesirable.
- Now, officials are trying to balance the risk of moving too slowly to reduce rates with the risk of moving too soon. While layoffs are low, they tend to rise rapidly as the economy weakens, which argues against keeping rates too high. But lowering rates too soon could ignite economic activity and allow inflation to settle out above the Fed’s target.
- Markets are focused on whether officials at the next meeting— July 30-31—might provide stronger hints that they could cut rates at their subsequent gathering in September.
Milder Inflation Bolsters Rate-Cut Chances
적은 인플레이션 상승으로 이자률 감소의 가능성 상승
WSJ 7/15/24(Fri)
- U.S. inflation eased substantially in June, extending a recent slowdown in price increases that opens a path for the Federal Reserve to cut rates by the end of the summer. CPI, a measure of goods-and-services costs across the economy, fell slightly from May, dropping the year-over-year inflation rate to 3%, which was the lowest since June 2023.
- Core prices, which exclude volatile food and energy items and are seen as a better gauge of underlying inflation, rose 0.1% since May. That was the mildest increase since January 2021
- After the report was released, investors dialed up bets that the Fed would cut rates twice this year, and the odds of a third cut climbed, implying the central bank could lower rates at its last three meetings of the year, in September, November and December.
China Pays Price for its One-Child Policy
중국, 1인 자녀 정책에 대한 대가를 지불하게 될…
WSJ 7/12/24(Fri)
- When China launched its one-child policy more than four decades ago, it sped up an evolution toward smaller family sizes that would have happened more gradually. The policy supercharged the country’s workforce: By caring for fewer children, young people could be more productive and put aside more money. That was a big factor in China’s economic miracle.
- China is now paying the price now. Limiting births then means fewer workers now, and fewer women to give birth. UN forecast shows how quickly China is aging, a demographic crunch that it predicts will cut China’s population by more than half by the end of the century, to 639M by 2100 from 1.4B today, a much steeper drop than the 766M it predicted just two years ago.
China Population shrinks
WSJ 7/12/24
Earth’s population Should Peak before Century ends
지구 인구 현세기가 끝나기전에 최고치에 도달 예정
WSJ 7/12/24(Fri)
- The world’s population is growing more slowly and will peak at a lower level than projected, new estimates from the United Nations show. The Earth will top out at about 10.29 billion people in 2084, before declining to 10.18 billion by 2100, the U.N. said in biennial population estimates released Thursday. That compares with the Earth’s population in July 2023 of 8.09 billion.
- Across much of Europe— and in longtime population leader China—population levels have peaked and are declining.
- Notably, this population reversal means that India has surpassed China as the world’s most populous country, with 1.44 billion people last year, compared with China’s 1.42 billion.
Earth’s population Should Peak Before Century ends
지구 인구 현세기가 끝나기전에 최고치에 도달 예정
WSJ 7/12/24(Fri)
- The U.S. population, estimated at 343.5 million in 2023, is expected to keep climbing through the end of the century, but at a slower rate.
- Amid those slowing growth rates, sub-Saharan Africa is expected to make up a larger slice of the world population, climbing to just under a third by 2100. This reflects not just growth in Africa, but also declining Asian populations and flattening population growth in the Americas.
Global population with projection
WSJ 7/12/24
Samsung AI Phone Offer Clues on Apple
삼성 셀폰의 AI 기술이 애플에 아이디어를 제공..
WSJ 7/11/24(Thu)
- Apple says it will soon introduce generative artificial intelligence to its new iPhones. Samsung Electronics , Apple’s chief smartphone rival, offers clues on how the experience might go.
- Since January, Samsung has rolled out many of the same AI features that Apple has promised, from real-time translation to photo editing to text summarization. The generative AI capabilities, which are the most-promising leap for smartphones in years, are now available to roughly 100 million users of Samsung’s recent flagship devices, the firm says.
- Samsung added to its AIphone lineup on Wednesday when it unveiled its new Galaxy Z Fold 6 and Galaxy Z Flip 6 foldable-display devices, and some of the generative AI features offered will be new and optimized for the phones.