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Growth slowdown to spark 10% stock plunge, Morgan Stanley warns

Investors might be playing with fire. According to Morgan Stanley’s Mike Wilson, the S&P 500 is vulnerable to a 10% plunge despite Monday’s late buying binge. Investors are riskily downplaying the possibility of a collapsing Federal Reserve that is tightening and slower growth. “This kind of action isn’t comforting. CNBC’s Chief U.S. Equity Strategist and […]

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Here’s How To Lock in a Low Rate

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. When you click on the links to products of our affiliate partners, we may be compensated. Pandemic-related consumer problems began with shortages of toilet paper and grew into record home prices that left potential buyers scrambling […]

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why it’s so hard to buy a home right now

It’s possible that the past year was a challenging one. wild ride for potential homebuyersHowever, reports suggest that 2022 may be more competitive in terms of housing markets. Current listings for new properties are at an all-time low. Redfin Zillow. Zillow reports that at 2021 there were actually 19.5% less homes on the market than […]

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Millions of borrowers just missed their chance to save

jayk7 | Moment | Getty Images Fast-rising interest rate have caused a dramatic drop in the number of homeowners who can benefit from mortgage refinances. Black Knight, an information and mortgage technology provider, reports that the average interest rate for a 30-year fixed loan increased by more than 50 basis point since this year. Accordingly […]

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December home sales drop 4.6%, as supply hits record low

Following a snowfall, a “Sold” sign is displayed outside of a house in Geneseo. Bloomberg | Bloomberg | Getty Images According to the National Association of Realtors, December closed sales of homes that were previously owned fell to 4.6%, an annualized, seasonally adjusted rate of 6.18 Million units. Year-over year sales fell 7.1% However, December […]

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Scotland’s offshore wind sector $951m boost after leasing round

Offshore wind turbines located in the waters close to Scotland. Gannet77 | E+ | Getty Images The Scottish offshore wind sector received a boost this week after a program to lease areas of Scotland’s seabed for wind farm developments raised just under £700 million (around $952 million). According to Crown Estate Scotland — a public […]

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Homebuyers are rushing to get mortgages before rates move even higher

As potential buyers visit a Columbus property to buy, a sign stating “Open House” is posted. Ty Wright | Bloomberg | Getty Images Last week saw a significant divergence in mortgage interest due to higher mortgage rates. The market is seeing homebuyers rush into it, even though refinance continues to be scarce. The Mortgage Bankers […]

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Mortgage rates jump again, causing headaches for homebuyers

A sign stating “Open House” is posted in front of property being sold in Columbus, Ohio. Getty Images| Bloomberg | Getty Images Mortgage News Daily reported Tuesday that the average 30-year fixed-rate mortgage rate was at 3.7%. This is the highest rate since April 2020, and 83 basis points more than one year ago. The […]

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Homebuilder confidence drops for the first time in four months

A roofing crew installed roofs on an apartment block under construction in Lehi Utah on Friday January 7, 2022. Getty Images| Bloomberg | Getty Images Single-family property builders are experiencing increasing expenses. This is leading to an increase in optimism for the new year. According to the National Association of Home Builders/Wells Fargo Housing Market […]