businessinsider.com
The Federal Reserve isn’t expected to hike rates again during this cycle, and Treasury yields have hit their peak.These are some of the forecasts for 2024 from Goldman Sachs chief US equity strategist David Kostin and his team. Their outlook note, published November 15, also shows they think the economy will avoid a recession. It’s positive news going into the new year and reflects that they’re more optimistic than most; the Bloomberg consensus shows a 55% chance of a recession next year.But tha…
2 months ago
businessinsider.com
Our experts answer readers’ investing questions and write unbiased product reviews (here’s how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.High interest rates are putting a damper on housing-market activity.With the average 30-year fixed mortgage rate above 7%, sales of existing homes slowed in September to their softest year-on-year pace in 13 years.That said, people shouldn’t be afraid of bu…
2 months ago
businessinsider.com
Rising interest rates, increasing uncertainty about the economy, and spiking yields on the 10-year Treasury have caused the market to sell off. But the pain from a tightening market isn’t over yet. The Federal Reserve’s rate hikes will hit the economy hard, according to a September 21 report by Morningstar’s Preston Caldwell, the firm’s chief US economist. There’s a high likelihood that the impacts on the real economy — housing, bank lending, and more — have yet to be fully felt, and those impac…
3 months ago
businessinsider.com
At the turn of the year, personal finance content creator Austin Hankwitz decided to start a public challenge: amass a $2 million retirement portfolio in eight years, or up to 15 years in the event of a stock market slowdown or if he has low-income years. Hankwitz, a former healthcare analyst, gained social media popularity in 2020 after posting short TikTok videos about companies he believed made great investments due to their fundamentals or future earning potential. It was a passion that even…
3 months ago
businessinsider.com
The average 30-year fixed mortgage rate hit a whopping 7.43% on Monday, a level unseen in the US in almost two decades. Expensive debt means today’s buyers will pay substantially more for a house than when rates dropped below 3% two years ago. To put it into perspective, according to Insider’s mortgage calculator, a $400,000 house with a 3% interest rate would have amounted to a monthly payment of about $1,349 after a 20% down payment. That same setup would cost $2,222 a month with today’s mortg…
3 months ago
businessinsider.com
The 30-year fixed mortgage rate has hit 7.51%, something unseen in over two decades, and it’s created a new normal for homeowners.In the event they bought their current house at a much lower rate, the prospect of moving and forfeiting that is keeping them locked in place. That, in turn, is fueling an inventory shortage that’s simultaneously frustrating homebuyers and keeping rates high.To Sam Primm, a 35-year-old real estate investor who’s been actively buying since age 26, there’s never a perf…
4 months ago
businessinsider.com
Contrary to popular fears, generative artificial intelligence may not threaten your job but could help you make more money, according to a Morgan Stanley note on September 18.It’s especially true for those taking on side hustles or gig work, which the investment bank believes will grow significantly more popular as the gap between incomes and expenses widens.The note points to diminishing asset wealth prospects for younger generations as a key driver of a growing gig economy. For example, Gen Z…
4 months ago
Search by beat, location, outlet & position to find the right journalists for your story.
Sign up for freebusinessinsider.com
Chris Gerbig desperately wanted to avoid the corporate path, which entailed a job that required him to sit in a cubicle every day in exchange for two weeks of vacation before retiring at 65. He and his wife, Tori Gerbig, decided to try their luck in e-commerce after she had been selling clothes on eBay. And in 2014, they launched Pink Lily, a brand that grew to allow both of them to quit their day jobs that year. Chris had been a credit manager at Wells Fargo from 2007 to 2008, selling mortgages…
4 months ago
businessinsider.com
Rachel Covert earned $180,000 annually as a vice president at the fashion designer Isaac Mizrahi Live. But her plump salary came with long hours and, eventually, burnout. “Ultimately, the most important thing was being able to say, ‘I want to go to yoga at 10:00 a.m. on Wednesday,’” Covert told Insider.At just 36 years old, she quit her job in exchange for personal freedom. Thankfully, she had saved up enough money in a retirement portfolio and brokerage account to make it happen. She now has al…
4 months ago
businessinsider.com
The real-estate market might seem less attractive at a time when mortgage rates are elevated and home prices also remain high. But it doesn’t mean that buyers should stay away altogether.Dan Hnatkovskyy, the CEO and co-founder of NewHomesMate, an online marketplace for newly constructed homes that connects buyers and investors to builders, says you should consider gathering as much information as possible when deciding where to buy.One way to do this is by following experienced investors. Hnatko…
5 months ago
businessinsider.com
As of Friday, the average 30-year fixed mortgage rate was at 6.79%. It’s now more than doubled from 2021’s historic lows of 2.65%.One could argue that today’s rates are closer to the norm than in the past few years: between 1971 and 2023, the average fixed 30-year rate was 7.18%, according to Trading Economics. But in 1971, the median sales price of houses sold in the US hovered at around $25,000 — about $180,000 in today’s inflation-adjusted dollars. According to Federal Reserve Economic Data,…
5 months ago
