Mortgage rates trended slightly downward on Thursday after the Federal Reserve held firm on its rate policy, maintaining a wait-and-see stance despite mounting political pressure.The average rate on 30-year fixed home loans registered 6.72% for the week ending July 31, down just slightly from 6.74% last week, according to Freddie Mac. Rates averaged 6.73% during the same period in 2024.“The 30-year fixed-rate mortgage showed little movement, remaining within the same narrow range for the fourth consecutive week,” says Sam Khater, Freddie Mac’s chief economist. “Continued economic growth, along with moderating house prices and rising inventory, bodes well for buyers and…
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CoreWeave (CRWV) shares surged more than 12% Thursday on the heels of strong earnings reports from two of its customers, Microsoft (MSFT) and Meta (META). Microsoft is CoreWeave’s largest customer, accounting for 72% of its revenue in the burgeoning cloud provider’s most recent quarterly earnings report. Microsoft spent $88.2 billion in its fiscal year 2025, ahead of the $80 billion it previously forecast. That figure represented a 58% increase in the tech giant’s spending from the prior year. Microsoft said its spending will grow at a slower pace in its 2026 fiscal year. During the first quarter, it expects to…
The average rate on a 30-year U.S. mortgage eased to where it was three weeks ago, modest relief for prospective homebuyers challenged by rising home prices and stubbornly high borrowing costs.The long-term rate slipped to 6.72% from 6.74% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.73%.Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased. The average rate dropped to 5.85% from 5.87% last week. A year ago, it was 5.99%, Freddie Mac said.Elevated mortgage rates continue to weigh on the U.S. housing market, which has been in…
Meta CEO Mark Zuckerberg’s vision of AI involves “personal superintelligence” that will help people achieve their individual goals. “I am extremely optimistic that superintelligence will help humanity accelerate our pace of progress. But perhaps even more important is that superintelligence has the potential to begin a new era of personal empowerment where people will have greater agency to improve the world in the directions they choose,” he said in a blog post on Wednesday. Meta defines superintelligence as AI that teaches itself and that surpasses human cognition, potentially helping people solve complex problems. Meanwhile, a personalized AI companion could remember a user’s…
Financial ExpressIndia ramps up rare earth strategy; eyes Australia, Argentina, Brazil and Chile for supplies: ReportAmid rising global concerns over China’s dominance in rare earth magnets, India is ramping up efforts to diversify supply chains by exploring partnerships….1 month ago Source link
CoreWeave (CRWV) shares surged more than 12% Thursday on the heels of strong earnings reports from two of its customers, Microsoft (MSFT) and Meta (META). Microsoft is CoreWeave’s largest customer, accounting for 72% of its revenue in the burgeoning cloud provider’s most recent quarterly earnings report. Microsoft spent $88.2 billion in its fiscal year 2025, ahead of the $80 billion it previously forecast. That figure represented a 58% increase in the tech giant’s spending from the prior year. Microsoft said its spending will grow at a slower pace in its 2026 fiscal year. During the first quarter, it expects to…
The Washington PostTrump covets rare earth riches, but Greenland plans to mine its own businessInterest in Greenland’s minerals is soaring, driven in part by Trump, who has said the U.S. must “get” the island. But the rare earths will be hard to mine..4 days ago Source link
The average rate on a 30-year U.S. mortgage eased to where it was three weeks ago, modest relief for prospective homebuyers challenged by rising home prices and stubbornly high borrowing costs. The long-term rate slipped to 6.72% from 6.74% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.73%. Shop Top Mortgage Rates Powered by Money.com – Yahoo may earn commission from the links above. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased. The average rate dropped to 5.85% from 5.87% last week. A year ago, it was…
Iron ore and steel traded around a four-month high, as China’s plan for a mega dam in Tibet bolstered the outlook for demand while Beijing’s efforts to rein in overcapacity lifted sentiment.The steel-making ingredient in Singapore climbed to around $104 a ton following a run of four weekly gains, and briefly touched the highest level since February. Futures for reinforcement bar in Shanghai surged to the highest level since March. On the London Metal Exchange, copper advanced. Source link