Semiconductor stocks are on the verge of a bear market. Is the thrill in the chips trade gone?
The PHLX Semiconductor Index hit a record high in late June and has since tumbled nearly 20%
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Mortgage Rates Start New Week Flat
Volatility is always a risk surrounding 3 day holiday weekends when it comes to markets and mortgage rates, but this time around, things have been very calm. The average top-tier 30yr fixed rate remained almost perfectly flat versus last Thursday with the MND index technically falling by 0.01%. This week’s calendar of scheduled events is…
Palm Bay Academy becomes latest Florida charter school default
The bonds were issued unrated and first became impaired in September 2020, according to MMA President Matt Fabian. Palm Bay Academy became the latest Florida charter school to default on bonds. Processing Content The bond trustee, UMB Bank, N.A., posted to the MSRB’s EMMA website that “holders of substantially all of the bonds” had reached…
Nine nations back Canada-led defence bank targeting £100 billion in financing
JPMorgan, Deutsche Bank, Commerzbank and ING have signed on alongside RBC, BMO, CIBC, National Bank of Canada, Scotiabank and TD Bank, per Reuters. The nine participating nations said in a joint statement the bank “is designed to expand access to capital, reduce financing costs, and support expansion of industrial capacity across member countries.” Even so, Canada signalled the founding…
FIRST DRAFT LIVE: ‘Not Happy, But Comfortable’: CREFC President On CRE Finding A New Normal
Bisnow’s First Draft Live is a regular series featuring live conversations about the critical stories impacting CRE right now. It is a companion to The First Draft, Bisnow’s daily, flagship CRE newsletter. Register here to get The First Draft in your inbox. Subscribe to First Draft Live on Apple and Spotify, or scroll down to…
Market Harborough acquires £120m portfolio from Gen H – Mortgage Strategy
Market Harborough Building Society has acquired a £120m mortgage portfolio of loans originated and managed by Gen H. The portfolio is centred on residential mortgage customers including first-time buyers and borrowers with more complex circumstances. The society says the acquisition supports its strategy to grow into adjacent lending segments while remaining focused on responsible lending,…
Should lenders prepare for mortgage rates moving even higher?
Mortgage rates reached their highest level since the end of August, following a week of heightened uncertainty over the Iran conflict, slightly moderated by positive news on inflation. Processing Content The 30-year fixed rate mortgage increased by 6 basis points to 6.55% as of July 16 from 6.49% one week prior, the Freddie Mac Primary…
