The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Mortgage interest rates are at the lowest level since last November, but not quite at the lows of last year. That is part of why mortgage volume is weakening. The other factor is a shrinking number of sales as potential buyers struggle to find and afford their dream homes.
Total mortgage application volume decreased 2.3 percent on a seasonally adjusted basis last week, compared with the previous week, according to the Mortgage Bankers Association. Applications are now down nearly 25 percent compared with a year ago, largely due to the lack of homeowners refinancing their loans.
Applications to refinance fell 2 percent for the week and are down 41 percent from a year ago.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $424,100 or less decreased to 4.11 percent from 4.12 percent, marking its lowest level since November 2016. Points rose to 0.43 from 0.39, including the origination fee, for 80 percent loan-to-value ratio loans.
"Mortgage rates generally fell, but not as low as they had in 2016," said Joel Kan, an MBA economist. "Borrowers potentially looking at a refinance might be waiting for a much bigger decrease in order to act."
Mortgage applications to purchase a home fell 3 percent for the week and are just 4 percent higher than one year ago. Annual gains in purchase applications are still positive, but they are shrinking. This is because the supply of homes for sale is falling, making it harder for buyers to find and afford a home. Home prices in June reached a new high nationally on the S&P CoreLogic Case-Shiller home price index.
Mortgage rates fell last week on tensions surrounding North Korea, and they are now marching lower again after the leaders of that nation launched a missile that crossed over Japan. Mortgage numbers last week were not impacted by Hurricane Harvey, as it made landfall only late Friday.