TheStreet

Mortgage lenders see more homes bought and sold when — and if — the Federal Reserve starts cutting rates.

Mortgage rates just had a huge drop

The Independent

The Bank of England has cut interest rates for the first time since 2020, but signalled people should not expect borrowing costs to start dropping rapidly in the months ahead.The central bank reduced the base rate from 5.25% to 5% after a split vote among its policymakers.It means pressure will be eased for some homeowners who will see their mortgage costs come down, but it could prompt banks to start reducing savings rates.The decision marks a turning point for the Bank’s Monetary Policy Committee (MPC), which has not implemented an interest rate cut since the onset of the Covid-19 pandemic...

Bank cuts interest rates to 5% but signals rapid fall unlikely to come

Though the Federal Reserve has held interest rates steady for a year, it appears ready to start cutting rates next month. Since CDs offer an extended rate promise, banks and credit unions tend to lower their rates on new CDs as soon as they feel confident the Fed will cut rates—without waiting for an official Fed announcement.

Will a Looming Fed Rate Cut Push Savings and CD Rates Lower in August?

With interest rate cuts from the Federal Reserve on the horizon, it could be a good time to shift cash, experts say. While many investors are getting 5% yields on money market funds, that will fall once the Fed starts cutting interest rates. Rates for high-yield savings and certificates of...

Here are some money moves to make before the Fed starts cutting interest rates

There’s still time to take advantage of up to 5.35% annual percentage yield, or APY, with today’s top high-yield savings accounts. But that number is down from last week’s high of 5.45%, so now’s the time to act to maximize your earnings. With inflation showing signs...

Best Savings Rates Today -- APYs Falter Amid Recession Fears, Aug. 8, 2024

Primis Bank is offering a remarkable fee-free checking account that pays 6.00% APY. That outdoes even the best CDs and high-yield savings accounts, which currently max out at 5.50%. Primis' 6.00% Novus Checking rate is available to new customers who set up a monthly direct deposit of at least $1,200.

This Checking Account Pays 6.00%—And It’s Guaranteed for 6 Months

Polk County, FL

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Fort Meade, FL

Uncovering Florida

The Polk County Sheriff's Office has made an arrest after conducting an investigation into a case of credit card fraud involving 28-year-old Burger King employee, Kellyn Miley. The incident was discussed in detail during this morning's briefing with Sheriff Grady Judd.

Burger King Employee Caught Using Customer's Credit Card for Food at Former Job

Florida State

Jacksonville Today

Republican Donald Trump has a 7-point lead over Democrat Kamala Harris among Florida voters, 49% to 42%, according to a new poll from the University of North Florida. Four percent are backing another candidate, and 6% are undecided or didn’t answer.

New Florida poll: Trump leads; support strong for abortion and recreational weed

New Jersey State

Collingswood, NJ

Morristown Minute

CAMDEN, N.J. – Ralston Boswell, 34, of Collingswood, New Jersey, has admitted to participating in schemes to fraudulently obtain Paycheck Protection Program (PPP) loans and unemployment insurance benefits. The announcement was made by U.S. Attorney Philip R. Sellinger.

Plea: Man's PPP & Unemployment Fraud - $209K Scam

The 30-year average mortgage rate fell again Monday, to 6.28%. A seven-day decline has pushed the average down to its lowest level since spring 2023. Averages for most other mortgage rates also dipped lower Monday. National Averages of Lenders' Best Mortgage Rates. Loan Type New Purchase. 30-Year Fixed 6.28%. FHA...

Mortgage Rates Plummet to Lowest Level in 16 Months

Kentucky State

Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

Denver, CO

David Heitz

More dangerous substances are entering the Denver drug supply, Harm Reduction Action Center warned in a newsletter this week. “The Iron Law of Prohibition posits that as law enforcement becomes more intense, the potency of prohibited substances increases,” HRAC Executive Director Lisa Raville wrote in the newsletter. That is exactly what is happening, she said.

Dangerous substances entering Denver drug supply

Business Insider

These are today's mortgage and refinance rates. Mortgage rates are way down this week in response to concerns of a potential economic downturn.

Mortgage Interest Rates Today, August 6, 2024 | Rates Plunge. Is It Finally a Good Time to Buy a House?

Goldman Sachs analysts have raised their estimated odds for a U.S. recession to 25% from 15%. The investment firm's research analysts said recession risk remains "limited" overall, noting that the Fed has ample room to cut interest rates to support the economy. The July jobs report showed unemployment increasing to...

Goldman Analysts Say Chance of US Recession in 2025 Has Risen to 25%

Markets Insider

The Federal Reserve risks prematurely cutting interest rates right as the US economy is poised to reaccelerate, Jim Bianco told CNBC. "The reason I suspect that we're going to have zero rate cuts is I don't think they're warranted. The economy is continuing to move along just fine," the Bianco Research president said on Friday, adding: "I suspect there'll be a second-half rebound."

The Fed shouldn't cut rates at all this year as the US is poised for a 2nd half rebound, macro strategist says

Fox Business

The Federal Reserve signaled that a September rate cut is on the table, but would-be homebuyers are likely to continue facing mortgage rates above 6%.

Interest rate cuts are on the horizon, but high mortgage rates could be here to stay

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. KEY POINTS. Mortgage rates have come down...

Prediction: Mortgage Rates Will Drop Before 2025

Aurora, CO

An Aurora City Council committee discussed Thursday a new Aurora program aimed at helping people retrieve their stolen cars. The Public Safety, Courts and Civil Service committee heard from Aurora police about MetroTrack. MetroTrack uses a car’s existing GPS, such as OnStar, to locate stolen autos. For cars older than 2015 models, police can hide Apple air tags on the car and track it that way.

Car recovery initiative for stolen autos in Aurora

Intel shares tumbled Monday, extending losses after the chipmaker posted disappointing quarterly results last week and announced layoffs to cut costs. Goldman Sachs analysts questioned whether Intel's cost-cutting plan will be enough to drive a recovery. Analysts at Baird said "formidable hurdles remain," anticipating Intel's cost challenges will carry into...

Intel Stock Extends Losses as Analysts Say Chipmaker Faces 'Formidable Hurdles'

The employment component of the ISM index plunged to 43.4 from 49.3 in July, representing the worst reading since the pandemic in June 2020.

Why the Fed will have to cut rates more than expected this year, ING says

NewsBreak

Top CD Rates Today, Aug. 6, 2024 - Lock In 5% to 5.50% for 6 Months to 3 Years

Two banks and one nationwide credit union are paying today's top CD rate of 5.50%, on terms of 6 to 9 months. To lock your rate...

Top CD Rates Today, Aug. 6, 2024 - Lock In 5% to 5.50% for 6 Months to 3 Years

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