Weekly News (November 29, 2023)

Mortgage Interest Rates Review

United Mortgage Nation  11/28/2023

30 yr fx (%) 15 yr fx (%) FHA 


10 yr Tr Y (%) 5 yr Arm (%) 7 yr Arm (%)
A year ago 6.299 5.499 5.875 3.714 6.375 6.375
A month ago 7.750 7.250 7.125 4.838 7.750 7.750
Last week 6.999 6.375 6.375 4.410 6.875 6.875
This week 6.899 6.375 6.299 4.363 6.875 6.875

                  Federal Fund Rate: 5.25% -5.50%        Prime Rate: 8.25%-8.50%  


Northern Valley RH teacher’s salary is #1 in NJ

노던 벨리 교사 연봉이 뉴저지 1위

WSJ  11/28/23 

  • The teachers’ salary at the Northen Valley Regional High School districts is the highest in NJ — $117,410 which was up 1.5% from the last term.  The teachers’ average work experiences is 16.2 years. 
  • NVGH in Demarest covers Demarest, Closter, and Haworth – 955 students.
  • NVGH in Old Tappan covers Harrington Park, Northvale, Norwood, Old Tappan, and Rockleigh -1103 students
  • The place is Cresskill – $99,153 which was up 10.1% from the last term, which was the highest increase among Korean concentrated towns. Palisades Park teacher salary was $68,750 which was lower than the NJ state average — $77,943


Low Office Vacancy Rates in Korea

서울 오피스 공실률 2% 대. 왜?  

Korea Daily  11/24/23

  • While office vacancy rates in NYC, London, Beijing soar, Seoul’s office vacancy rates is just 2%.
  • According to Costar in 3rd Qt, London’s vacancy rates is 9% and 13.4% in NYC, 20% in San Francisco, 24% in Beijing, 21% in Shanghai, 15% in Hong Kong, 9% in Singapore. 
  • The reasons of low office vacancy rates are 1) WFH rates is only 1.6 days  2) not enough office supply  3) Major corporates concentrated in urban area  4) not enough lands to be developed. 


NY Residents move to NJ

뉴욕주민 뉴저지 이주 늘어난다     

Korea Times  11/24/23

  • According to U.S. Census Bureau report on the 2022 statistics announced recently, 75,103 NY residents have moved to NJ between 2021 ands 2022 while only 38,711 NJ residents have moved to NY.
  • The most population shift was moving from California to Texas : 102,442 and the 2nd most was moving from NY to FL: 91,201. 
  • NY state population is estimated to 19,474,187 and 301,461 population moved in, and 545,598 population moved out.  NJ state population is estimated to 9,174,261 and 175,023 population in and 267,106 population out.   30.1% of total moving family in NJ moved to other states.  


American Dream Has Turned Elusive, Voters Say

아메리칸 드림에 모호해지는 미국인 

WSJ   11/24/23 

  • The American dream—the proposition that anyone who works hard can get ahead, regardless of their background— has slipped out of reach in the minds of many Americans.
  • Only 36% of voters in a new Wall Street Journal/NORC survey said the American dream still holds true, fewer than the 53% who said so in 2012 and 48% in 2016. 
  • The American dream seemed most remote to young adults and women in the survey. Some 46% of men but only 28% of women said the ideal of advancement for hard work still holds true, as did 48% of voters age 65 or older but only about 28% of those under age 50.  


Strength of US economy & American Dream poll

WSJ  11/24/23

Home Price Index Rises As Supply Falls Short

낮은 주택 재소에 집값 디시 상승세

WSJ  11/29/23 

  • The S& P CoreLogic Case-Shiller National Home Price Index, which measures home prices across the nation, rose 3.9% from a year earlier in September, compared with a 2.5% annual increase the prior month. The September level was the highest since the index began in 1987. On a month-over-month basis, the index rose a seasonally adjusted 0.7%  in September.
  • Home sales have slumped from a year ago because higher mortgage rates have pushed buyers out of the market. But the decline in demand isn’t causing prices to fall, because the inventory of homes on the market is unusually low. Higher rates have prompted potential home sellers to stay put because they don’t want to give up the low rates that they have on their existing mortgages.


S&P CoreLogic Case-Shiller National Home PriceIndex

WSJ  11/29/23

Investors See Fed Rate Cuts by May in 2024

투자가들, 내년 5월부터 기준 이자률 감소 예측  

WSJ   11/29/23 

  • Twenty months after the Federal Reserve began a historic campaign against inflation, investors now believe there is a much greater chance that the central bank will cut rates in just four months than raise them again in the foreseeable future.
  • Interest-rate futures indicated Monday a 52% chance the Fed will lower rates by at least a quarter-of-a-percentage point by its May 2024 policy meeting, up from 29% at the end of October, according to CME Group data. The same data pointed to four cuts by the end of the year.


Rate expectations

WSJ 11/28/23


Climate Summit to press nations on Temperature Target  

기후 정상회의, 지구 상승온도 목표달성에 촉구    

WSJ  11/29/23

  • Nearly 200 nations and business leaders pledged eight years ago to keep Earth from warming above 1.5 degrees Celsius(about 2.7 degrees Fahrenheit). That goal has proven difficult to meet.
  • On Thursday, world leaders and companies will convene in Dubai at the COP28 climate summit where negotiators are pushing big nations to make good on promises to slash industrial emissions to keep the Earth from warming above 1.5 degrees Celsius. 
  • The rise in atmospheric greenhouse gases that contribute to climate change is faster than at any time now than in the past several million years, according to a climate scientist at NASA. 


Climate/Temperature/Fuel Sources

WSJ 11/29/23


Fast-Fashion Disrupter Shein Confidentially Files IPO

Shein, 미밀리에 주식시장에 상장

  • Shein, the online fashion company that won over hundreds of millions of shoppers around the world, has confidentially filed to go public in the U.S. in what could be one of biggest IPOs in years by underwriting of Goldman Sachs, JPMorgan Chase and Morgan Stanley. 
  • Shein, founded in China but now based in Singapore, has disrupted the clothing industry with its on-trend $5 skirts and $9 jeans in the past few years. The 11year-old company is now one of the largest fashion brands in the world. 
  • A year before Shein’s latest fundraising, the company had been valued at $100 billion, catapulting its worth to more than the combined market capitalization of H& M and Zara-owner Inditex.

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