General World News

Mortgage rates manage another dip to 2.94%

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The average 30-year fixed rate mortgage managed another dip last week, falling two basis points to 2.94%, according to Freddie Mac‘s PMMS. Since the most recent peak in April, mortgage rates have declined nearly a quarter of a percent and have remained under 3% for the past month. Despites last week’s rates mirroring closer to what was […]

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27 fast-paced books you can finish in one day

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  Summary List Placement It is undeniably satisfying to start and finish a whole book in one day. When I haven’t read a book in a while and want to feel like I accomplished something even while I’m relaxing, I love to grab a short, great book or a novel that’s so fast-paced and fascinating […]

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The US economy has not hit ‘peak data.’ There’s still plenty of room for the post-COVID boom to soar.

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Summary List Placement There’s always a reason things are about to get worse. Throughout the pandemic, pessimistic forecasters have doubted the pace of the US economy’s recovery. And now that the consensus has largely caught on to the US economic boom, there’s a new story for the worrywarts: “peak-data.”  The idea with “peak data” is […]

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U.S. Department of Education Announces 161 Students from Across the Country As 2021 U.S. Presidential Scholars

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U.S. Secretary of Education Dr. Miguel Cardona today announced the 57th class of U.S. Presidential Scholars, recognizing 161 high school seniors for their accomplishments in academics, the arts, and career and technical education fields. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education

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Biden could be the most pro-labor president in decades. These 80 government power players will take a major role in shaping policy during his administration.

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Summary List Placement A year ago, the pandemic thrust a public health crisis and widespread layoffs onto an American working class already burdened by decades of rising economic inequality and eroding protections on the job. Months later, George Floyd’s murder forced the country to once again reckon with its extensive racial disparities, which pervade American […]

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Compass loses money, explores mortgage

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Compass has successfully become a publicly traded company, but the residential brokerage continues to lose money and it has unclear plans to generate more revenue. In its inaugural earnings call, the eight-year-old, New York City-based brokerage reported Wednesday a net income loss of $212 million in the first quarter of 2021, compared to $133 million […]

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South poised to see $1 trillion in home sales in 2021

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Even with historically low levels of inventory, rising mortgage rates and uneven job growth, experts still believe 2021 will be a record year for home sales. How much will be spent on homes? Officials are predicting sale numbers to easily eclipse $1 trillion by years end. Redfin projected $2.53 trillion in home sales this year, […]

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These 10 LinkedIn Learning classes teach the most in-demand skills companies are looking for — and the courses are free until the end of May

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  Summary List Placement Scoring a new job at a dream company often involves picking up new skills that’ll make you stand out from the large pool of applicants. However, it can sometimes be tough to know where to start, or which skills are actually worth investing time in learning. To help gain some insight […]

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Quicken brand will be officially retired on July 31

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Five years after introducing the Rocket Mortgage brand for digital lending, Rocket Companies will finally retire the legacy Quicken name on July 31. “More than 20 years ago, Dan Gilbert, our founder and chairman, had a vision of putting the entire mortgage process online to simplify the lending experience and add more transparency. Since then, we […]

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Senators urge CFPB to “reconsider” QM delay

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Compliance attorneys and mortgage industry lobbyists aren’t the only ones wishing the Consumer Financial Protection Bureau (CFPB) would proceed with the General Qualified Mortgage Final Rule as it had initially planned. The same day the CFPB announced plans to delay the compliance date, Sens. Mark Warner (D-VA) and Tim Scott (R-SC) fired off a letter […]

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Mitch McConnell told Biden the GOP considers Trump’s tax cut a ‘red line’ in infrastructure talks

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Summary List Placement Senate Minority Leader Mitch McConnell had a clear message coming out of his first in-person meeting with President Joe Biden on Wednesday: Don’t mess with the 2017 Republican tax law. The Kentucky Republican ruled out any corporate tax increase in the colossal infrastructure package Biden is seeking, effectively doubling down in his […]

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Right after ‘Big Four’ meeting with Biden, Pelosi says an infrastructure bill will ‘absolutely’ be ready by July 4

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Summary List Placement President Joe Biden remains committed to his goal of getting bipartisan support for his $4 trillion infrastructure proposal, and on Wednesday, those efforts continued in a meeting with Congress’ four most powerful leaders. The “Big Four” leaders in Congress — Speaker of the House Nancy Pelosi, House Minority Leader Kevin McCarthy, Senate Majority […]

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Dissatisfied retail workers are leaving the industry because of abusive customers and low pay, and that’s making the labor crunch worse

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Summary List Placement Some workers are leaving retail and restaurant jobs to get away from low pay and difficult customers, and a growing number of openings in the labor market is making it easier to transition to new careers. Restaurants and stores are looking to staff up and return to normal as COVID-19 restrictions lift […]

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New polling reveals that the vast majority of US adults feel comfortable returning to the office, but the April jobs report shows how hard that will be

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Summary List Placement New polling shows that the vast majority of US adults working remotely feel comfortable returning to their normal workplace, but the latest jobs report shows that the return to normalcy will take longer than expected. Morning Consult has tracked public sentiments about daily life during the pandemic since March 2020. As of […]

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Joe Manchin says he won’t support extending the $300 federal weekly unemployment benefit from Biden’s stimulus

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Summary List Placement Sen. Joe Manchin said he won’t back extending the $300 federal unemployment benefit from President Joe Biden’s stimulus, which could possibly torpedo the jobless measure once it expires on Sept. 6. “I’ll never vote for another extension as long as I know that with the vaccines, there’s not an excuse for no […]

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Why VA mortgage loans go to the bottom of the stack

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It’s been rejection after rejection for Isabel Williams’ client, a military veteran in Port St. Lucie, Florida. Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. Williams, the broker-owner of We Save Loans, said her client has all […]

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The FCC has launched a $50-a-month subsidy for high-speed internet in low-income households, plus a $100 discount on a computer. Here’s who’s eligible, and how to apply.

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Summary List Placement Applications have just opened for a $3.2 billion federal initiative to subsidize high-speed internet for low-income households. The Federal Communications Commission (FCC) program offers eligible households discounts of up to $50 a month for broadband service, and up to $75 a month if the household is on Tribal lands. The program, which […]

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Mortgage applications jump as rates fall to 2.96%

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After weeks of decreases, mortgage applications rose 2.1% for the week ending May 7, 2021, according to the most recent report from the Mortgage Bankers Association. Aiding the jump in mortgage applications was another sub-3% week of mortgage rates, which fell officially to 2.96%. “The decline in rates helped the refinance index reach its highest […]

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The UK economy grew 2.1% in March, beating expectations as the vaccine-driven recovery picked up speed

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Summary List Placement The UK economy grew 2.1% in March, considerably more than expected by economists, as business and consumer optimism grew as COVID-19 cases fell and the vaccination drive picked up speed, according to data on Wednesday. The 2.1% month-on-month expansion in gross domestic product was above expectations for growth of 1.3% and was […]

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GOP-led states are cutting $300 weekly federal unemployment benefits. Here’s the 9 states doing so this summer.

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Summary List Placement Alabama Gov. Kay Ivey announced on Monday that the state was halting its participation in federal unemployment benefits starting June 19. “We have announced the end date of our state of emergency, there are no industry shutdowns, and daycares are operating with no restrictions. Vaccinations are available for all adults. Alabama is […]

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Mortgages for second homes skyrocket 178%

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The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, according to a recent Redfin study. Redfin Chief Economist Daryl Fairweather said the numbers are likely exaggerated because demand for second homes dropped 24% year over year in […]

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Volume-hungry mortgage lenders loosen credit standards

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Mortgage credit availability increased by 2.2% in April as mortgage lenders fight for borrowers in an increasingly competitive market. The Mortgage Bankers Association said Tuesday that the Mortgage Credit Availability Index (MCAI) — which uses 100 as a benchmark — increased to 128.1 last month. A decline in the MCAI suggests that lending standards are tightening […]

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How Biden’s stimulus could cause some large companies to raise wages and bring childcare to the forefront

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Summary List Placement The picture of American employment — and unemployment — is a confusing one right now. Some employers say there’s a rampant labor shortage in sectors of the economy such as restaurants, with workers opting to remain on generous unemployment benefits instead of returning to work. The April jobs report on Friday showed […]

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A record 44% of small businesses struggled to hire workers in April, and more than a third raised prices, study finds

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Summary List Placement Last week’s jobs report fell significantly short of expectations, adding just 266,000 jobs to the US economy when economists had predicted 1 million.  Small businesses are no exception. The National Federation of Independent Business (NFIB), the nation’s largest small business association, released a report on Tuesday that found that while small business optimism […]

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Better.com to go public via SPAC at $7.7B valuation

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The special purpose acquisition company market isn’t dead yet, apparently. SoftBank Group-backed digital lender Better.com plans to make its public debut in the fourth quarter of 2021 via SPAC, in a deal that would value the company at nearly $8 billion, the firm said Tuesday. Better.com, which offers mortgage, real estate, title and homeowner insurance […]

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Gavin Newsom wants to send direct payments to Californians from the state’s unexpected $75 billion budget surplus

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Summary List Placement At the beginning of the pandemic, California Gov. Gavin Newsom predicted his state would end up with a deficit of $54 billion. Instead it has a $75 billion surplus, and that could mean stimulus payments for Californians. On Monday, Newsom announced that California has a $75 billion budget surplus which he plans […]

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Job openings hit a record high in March — showing the gap between job postings and hirings was huge even before April’s jobs report

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Summary List Placement Job openings grew to record highs in the US in March amid continued vaccination and fresh stimulus.  The data shows businesses reopening along with the country, yet last Friday’s jobs report for April indicated employers have since had trouble filling those jobs. Openings rose to 8.1 million from 7.5 million, according to Job […]

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Guild breaks into Northeast with acquisition of RMS

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Publicly traded retail mortgage lender Guild Holdings is on the hunt for acquisitions, and it’s found a juicy target in Maine-headquartered retail lender Residential Mortgage Services Holdings. The acquisition of RMS for $196.7 million (3.5x earnings) gives Guild a substantial foothold in the Northeast and a bevy of purchase business. RMS, founded in 1991, has […]

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U.S. Department of Education Makes Available $36 Billion in American Rescue Plan Funds to Support Students and Institutions

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The U.S. Department of Education (ED) announced more than $36 billion in emergency grants today provided under the American Rescue Plan (ARP) Act for postsecondary education. These grants will help over 5,000 institutions of higher education (institutions), including HBCUs, TCCUs, and HSIs, provide emergency financial aid to millions of students and ensure learning continues during […]

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Ransomware attacks hit ‘under-resourced’ city governments hardest, says cybersecurity expert whose kids’ school was shut down by hackers for 4 days

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Summary List Placement The hacking of a major US oil pipeline Friday is the latest in a string of cyberattacks under federal investigation. The stories read like movie loglines: A reportedly Russia-backed group slowly burrowed its way into US digital infrastructure, gaining access to important government accounts. An unknown cyber-assailant tried to poison a Florida […]