Weekly News (November 25, 2024)

Mortgage Interest Rates Review

United Mortgage Nation 11/26/2024

In Manhattan, Congestion Tax imposes from 1/15/25

맨하탄 교통혼잡세 1월5일 시행 확정      

Korea Time 10/25/24(Mon)

• FHA approved levying Manhattan Congestion Tax, starting 1/15/2025 for those cars entering 60th St and south – $9.00 for a passenger car based on EZ-Pass. The tax will be $9.00 till 2027 and $12.00 till 2030, $15.00 from 2031.
• NY Governor Kathy Hochul once hold the execution of the law in June due to burden of the low income families since last June, but she resume the law after the presidential election.
• The president-elect Trump once announced he would cancel the Manhattan Congestion Tax after he comes the president of U.S.

Existing Home Sales Ticked Up in October

       기존 주택 판매, 10월에 반짝 증가                 

WSJ   11/22/24(Fri)

• Sales of existing homes rose in October, reflecting a short-lived drop in mortgage rates that improved affordability for buyers and produced the first year-over-year gain in sales in more than three years.
• U.S. existing-home sales in October rose 3.4% from the prior month to a seasonally adjusted annual rate of 3.96 million, the NAR said Thursday. Economists surveyed by The Wall Street Journal had estimated a monthly increase of 2.9%. October sales rose 2.9% from a year earlier, the first year-over-year increase in sales since July 2021.
• Homes typically go under contract a month or two before the contracts close, so the October data largely reflect purchase decisions made in September and August when rates fell on their way to a low of 6.08%.

U.S. median existing-home price, change from a year earlier

WSJ  11/22/24

 Rate Rise Doesn’t Slow Mortgage Applications

잠깐동안의 이자률 상승이 융자 신청에  영향 안줘

WSJ    11/21/24(Thu)

• An index of new mortgage loan applications, the U.S. MBA purchase index, rose 2% in the latest week, as higher mortgage rates aren’t slowing down buyers.
• The MBA’s market composite index, which measures overall mortgage-application volume, rose 1.7% over the previous week, showing that buyers aren’t shying away from the market. The index stood at 195.6 for the week ended Nov. 15, up from 192.4 the previous week. A year ago, the index stood at 175.6.
• Home prices rose 5.9% in October on a year-over-year basis, marking the lowest annual increase since December, Redfin said in a report Tuesday. Higher mortgage rates have slowed price increases that surged since the pandemic began, and home-price increases are now consistent with the pace of growth seen between 2015 to 2020.

Index of mortgage applications to buy homes

          WSJ   11/21/24

Bessent’s To-Do List: Taxes, Tariffs, Spending

 새 재무부장관 할일 – 세금, 관세, 정부 지출  

WSJ     10/26/24(Tue)

• Scott Bessent spent the past 40 years studying economic history. Now, as Donald Trump’s choice to lead the Treasury Department, he has the chance to make his mark on it.
• He was motivated to get involved with Trump’s campaign in part because of a view that time is running out for the U.S. economy to grow its way out of excessive budget deficits and indebtedness.
• Enacting tariffs and cutting spending will also be a focus, he said, as will be “maintaining the status of the dollar as the world’s reserve currency.”
• Since 2020, Bessent and his husband, former New York City prosecutor John Freeman, have primarily lived in Charleston, S.C., near Bessent’s childhood home. They have two children.

Activity Picks Up In Private Sector

미, 사기업분야의 활동재개 기운

WSJ    11/26/24(Tue)

• U.S. economic activity continued to grow robustly this month as confidence among businesses surged following the election of Donald Trump to the White House.
• The S& P Global Flash U.S. Composite PMI(Purchasing Managers Index)—which gauges activity in the manufacturing and services sectors—rose to 55.3 in November from 54.1 in October, according to the surveys published Friday.
• Demand increased sharply over the month and companies set out a brighter view of their output as interest rates fall and expectations mount for more-supportive business policies.
• The services sector continued to be the sole engine of growth. The manufacturing industry contracted at its slowest rate in four months, suggesting a recovery could be coming in the months ahead.

U.S. Manufacturing PMI

WSJ   11/12/24(Tue)

Trump Media applied Trade Mark for Virtual Currency Payment Platform

트럼프  미디아, 가상화폐 결제처리 풀랫폼 상표 출원 신청

Korea Times   11/25/24(Mon)

• Trump Media who is owned by Trump, the president-elect applied a trade mark for “TruthFi”. The company says ThrithFi is a platform for virtual currency payment.
• It’s business category on the application includes Card payment transaction services and Asset management, digital asset transactions.
• However, it could create a conflict of interests in the virtual currency industries because his victory was backed by virtual currency supporters, and the company that he has significant interests will make profits from the competition.

Temu Owner’s Sales Growth Slows

테무 영업 성장 추춤

WSJ  11/22/24(Fri)

• Shares of Temu parent PDD Holdings fell almost 11% Thursday after the company missed third-quarter sales and earnings expectations, highlighting the growing challenges for the Chinese e-commerce juggernaut at home and abroad.
• Temu quickly rose to become the U.S.’s second-most popular shopping app afterAmazon.comby monthly users, but its U.S. growth has shown signs of losing steam.
• Temu also faces increasing competition in the low-costgoods sector. Amazon this month launched a new section to its app focused on items that cost $20 or less as the ecommerce company looks to fend off rising competition from low-cost Temu and its Chinese-founded rival Shein.

PDD(Temu) Holdings Quarterly Revenue

WSJ  11/22/24