Fed Rate Cut Expected to Boost Eastern North Carolina Housing Market
The Federal Reserve cut its key interest rate by 0.5 points to 4.8%, the lowest since March 2023, potentially easing the local housing market. Experts believe mortgage rates will drop, helping buyers in eastern North Carolina. The decision aims to stabilize the economy amidst slow job growth and controlled inflation.
BlackRock Warns of Increased Market Volatility After Fed Rate Cut
BlackRock, the world’s largest asset manager, warns of potential market volatility following a recent 50 basis point U.S. interest rate cut by the Federal Reserve. The cut could boost markets short-term, but also raises risks if economic growth doesn't align with Fed forecasts. Jean Boivin of BlackRock suggests the economy's state remains uncertain and rate cut effects on assets like Bitcoin and Ethereum are yet unclear, with potential short-term benefits for these cryptocurrencies.
Semrush Holdings Insider Sale Reported
Dmitry Melnikov, a large shareholder in Semrush Holdings Inc., sold shares of the company on September 18 and 19, 2024. Transactions involved 64,140 and 44,239 Class A common stocks at prices of $14.59 and $15.08 respectively, leaving him with over 9 million shares.
Federal Reserve's Interest Rate Cut Spurs Market Rally
Following a half-point interest rate cut by the Federal Reserve, stocks soared with Fed Chair Powell reassuring investors the cut aims to maintain economic stability, not indicating panic about a downturn. The labor market is viewed as solid and the economy in good shape, with tech stocks particularly benefiting from the cut. Despite a successful market day, concerns over future labor market cooling and its potential recessionary implications remain.
Wall Street Hits Record Highs After Federal Reserve Rate Cut
Wall Street celebrated with record surges on Thursday as markets reacted to the Federal Reserve's significant interest rate cut. The S&P 500 reached a new peak with a 1.7% increase, while the Dow Jones and Nasdaq also soared. The rate cut aims to tame high inflation while supporting the job market and preventing a recession. The decision boosted investor confidence, lifting shares across sectors, and energized by positive economic signals such as low layoffs.
Mortgage Price War Could Lead to Sub-3% Deals
A mortgage price war could see rates drop below 3% next year, offering relief to borrowers. Following the Bank of England's signal of potential rate cuts, lenders have slashed fixed-rate mortgage prices. Experts speculate that with continued low inflation, ultra-competitive sub-3% mortgage deals could emerge, benefiting both new and existing homeowners.
Nike has announced that John Donahoe will retire as president and CEO on October 13, with Elliott Hill, former president of consumer and marketplace, taking over on October 14. Hill will also join the board and executive committee. Donahoe will remain an advisor until January 2025. The company recently announced layoffs and has seen its stock fall.
U.S. Existing Home Sales Decline in August Amid High Prices and Interest Rates
August saw a 2.5% drop in existing home sales from July, marking a year-on-year fall of 4.2%, attributable to high mortgage rates and steep asking prices. Despite sluggish sales, the median home price rose to $416,700. Inventory increased slightly, offering buyers more options and potentially easing price pressures. Mortgage rates have dipped recently, which could help increase future sales, although the overall costs of home buying remain near historic highs.
Global Markets Rally Following Fed's Rate Cut
The Federal Reserve's 50-basis-point interest rate cut, the first since 2020, spurred a yen rally and a global stock market increase. Led by Jerome Powell, the Fed's move aimed to support economic growth amidst cooling inflation. The aggressive rate reduction divided analysts, sparking concerns over potential inflation reignition versus confidence in preemptive economic support. Post-cut, Wall Street and major global indexes saw significant gains.
U.S. Mortgage Rates Fall, Boosting Housing Affordability
U.S. mortgage rates have hit their lowest since early February, with a 30-year fixed rate now at 6.09%. Despite this dip and a Fed rate cut, home sales fell 2.5% in August, yet the median home price rose to $416,700. Economists remain optimistic about increased sales and housing demand in the coming months, influenced by potential further rate reductions by the Fed.