The latest rise in the national mortgage benchmark adds $67.58 to a hypothetical monthly payment on a $400,000 loan. The average 30-year fixed rate reached 7.28% in the week ending October 1, up from 7.03% a week earlier and the highest since November 2023, according toFreddie Mac’s weekly survey.
» Read more about: Mortgage rates: Higher national average stretches buyer budgets »
Higher interest rates aren’t just hitting consumers’ wallets. They’re also taking a toll on some major consumer stocks.
As borrowing becomes more expensive, shoppers are pulling back, especially on big-ticket purchases.
RELATED STORY | Consumer confidence hits 12-year low as prices squeeze voters weeks before midterms
The S&P 500 Consumer Discretionary ETF has fallen roughly 8% as interest rates have climbed.
» Read more about: Higher interest rates are dragging down consumer stocks »
A bill that would change the titles for Social Security’s retirement ages is headed to President Donald Trump’s desk for his signature.
The Claiming Age Clarity Act, introduced in the House by Rep. Lloyd Smucker, R-Penn., and Rep. Don Beyer, D-Virginia, passed the House and Senate on a bipartisan vote.
The stock market allows people to buy small pieces of a business.
Over the long term, investors tend to value publicly traded businesses properly.
Over the short term, emotional investors tend to push stocks to extreme highs and extreme lows.
Cathie Wood, head of Ark Investment Management, is known for making big bets on disruptive tech stocks. Sometimes, she’ll buy when these stocks are already rising.
That’s what she just did with Meta Platforms (META), buying shares after the social media giant surged about 17% over the past month.
» Read more about: Cathie Wood buys $7.8 million of surging megacap tech stock »
Morgan Stanley proposes converting eight Eaton Vance municipal bond mutual funds holding nearly $10 billion into ETFs. Here’s what changes for shareholders.
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Shareholders in eight Eaton Vance municipal bond funds will soon get a ballot deciding whether their fund becomes an ETF,
Large-cap funds dominate most portfolios, but the thousands of smaller companies they ignore have quietly outperformed over the past year. Three ETFs carve up that overlooked market very differently, and choosing the wrong one cost investors real money in the…
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Both “investment trusts” and “ETFs” are products that manage multiple assets together. In fact, an ETF is a type of investment trust, but the term ETF generally refers to investment trusts listed on a stock exchange. Because the way orders are placed and prices are determined differs,
Federal Reserve officials were unanimous in raising interest rates last month, and most expected to do it again before the end of the year, according to minutes from the central bank’s September meeting released Wednesday.
» Read more about: Another interest rate hike could be coming before the end of year »
Shares of FuelCell Energy performed well in the first few days of October.
FuelCell Energy announced a new member of its management team.
Investors with lower risk tolerances may prefer to choose one of FuelCell Energy’s peers.
» Read more about: Why FuelCell Energy Stock Is Plummeting Today »