Home Equity Loans Could Supercharge the U.S. Economy
Meredith Whitney, the once-celebrated financial forecaster, is eyeing a potential game-changer for the U.S. economy, and it doesn't involve government spending.
Freddie Mac's Proposal Is A Game Changer for the U.S. Economy and Homeowners
Imagine pumping nearly $1 trillion into the U.S. economy without adding a cent to the national deficit.
Rising Interest Rates Push Homebuyers Toward Adjustable Rate Mortgages
In the face of soaring interest rates, many U.S. homebuyers are opting for adjustable rate mortgages (ARMs) as a more affordable alternative to traditional fixed-rate mortgages.
Major Investment in Texas Samsung Chip Manufacturing by Biden Administration
The Biden administration has committed up to $6.4 billion to help Samsung Electronics set up a major computer chip manufacturing hub in Texas.
TSMC's Arizona Expansion Boosted by U.S. Government Funding
Taiwan Semiconductor Manufacturing Co. (TSMC), a global leader in semiconductor fabrication, is set to receive a significant boost in the U.S. with up to $6.6 billion in funding from the U.S. government.
FMCSA's Call for Truck Lease Agreements is Combating Predatory Practices for Driver Safety
The Federal Motor Carrier Safety Administration (FMCSA) is requesting lease agreements from truck drivers, especially if they suspect predatory or fraudulent terms.
Yellow Trucking Repays Contentious $700M Covid Loan Amidst Bankruptcy Fallout
Bankrupt trucking giant Yellow has announced it has fully paid back a contentious $700 million Covid loan from the U.S. Treasury Department, along with over $151 million in interest.
Record Online Spending and the 'Buy Now, Pay Later' Trend
During the holiday season, online spending hit a record high, increasing by 4.9% year over year, totaling $222.1 billion, according to Adobe Analytics.
Federal Reserve's Rate Cut Forecasts Spark Stock Rally While Posing Challenges for Savers
The Federal Reserve's announcement of a pause in benchmark interest rates and a forecast of rate cuts next year led to a surge in stock indexes to one-year highs.
US Pending Home Sales Hit Record Low in October Due to Mortgage Rate Spike
In October, signed contracts to buy previously owned homes in the U.S. plummeted to a record low due to surging mortgage rates, with the National Association of Realtors reporting a 1.5% decline in its pending home sales index, the lowest since its inception in 2001.
Major Economic Concerns Amid Record Thanksgiving Shopping Weekend
A recent Fox News poll revealed that more than 75% of Americans are worried about the state of the economy.
Arson Fire Beneath Interstate 10 Shines Spotlight on Caltrans' Lease Program and Safety Concerns
Caltrans and state fire officials had expressed concerns about the storage of combustible liquids on wooden pallets under Interstate 10 for several years before a recent fire, which is now being investigated as arson, led to the closure of a major Los Angeles freeway for over a week.
Financial Expert Dave Ramsey Warns Against Using HELOCs for Debt and Home Equity Access
Dave Ramsey, a financial expert, is concerned about the growing trend of homeowners using home-equity lines of credit (HELOCs) to access their home equity for various purposes, such as buying additional property or paying down consumer debts.
Fire Under Los Angeles Freeway Raises Questions About Land Leasing Program
A recent fire under an elevated Los Angeles freeway, which caused significant damage and traffic disruptions, has brought scrutiny to a state land leasing program that allowed businesses to store various materials under the freeway.
Billionaire Ron Baron Forecasts SpaceX's Value to Reach $500 Billion by 2030, Fueled by Starlink's Growth
Billionaire investor Ron Baron predicts that SpaceX, Elon Musk's rocket company, will be worth around $500 billion by 2030.
Ransomware Attack on ICBC Disrupts US Treasury Market, Raising Concerns
A ransomware attack on China's Industrial and Commercial Bank (ICBC) disrupted trading in the $25 trillion US Treasury market, forcing ICBC to send trading data on a USB stick to BNY Mellon for settlement.
Small Businesses Express Concerns to Fed's Powell About Inflation and Interest Rates
Federal Reserve Chair Jerome Powell and Patrick Harker, head of the Federal Reserve Bank of Philadelphia, visited York, Pennsylvania, to hear the concerns of small-business owners grappling with inflation, high interest rates, labor shortages, and post-pandemic economic challenges.
Record $1 Billion Loan Considered by U.S. for Nevada's Massive Lithium Mine
The U.S. Energy Department is currently engaged in discussions to potentially provide a record-breaking $1 billion loan to the developer of one of the largest lithium deposits in the United States.
Auto Workers' Strike Puts Small Suppliers at Risk With Heightened Financial Strain
The ongoing United Auto Workers' strike against major automakers is significantly impacting small suppliers, with some at risk of shutting down due to the disruption.
Navigating the Road Ahead: Strategies to Tackle Rising Trucking Costs in 2022
Trucking costs have continued to rise, with the average cost per mile reaching $2.25 in 2022, a 21.3% increase from 2021.