Fischer Homes promotes key leaders for South Region, Raleigh
To maintain growth in our region, its essential for the Tri-State to leverage digital technologies, ensure supply chain resiliency and adopt strategies for the future of work.
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Longtime Muni Analyst Tom Doe Steps Back From Firm He Founded
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China's Capital Outflows Hit Record Amid Liberalization Push
(Bloomberg) -- China's capital outflows rose to a record in July, driven by mainland investors' aggressive buying of Hong Kong assets following new market liberalization measures. Domestic banks wired a net $58.3 billion of funds overseas on behalf of their clients for securities investment last month, according to data released late Friday by the State Administration of Foreign Exchange. That's the highest monthly outflow since records began in 2010. The US-Canadian Road Safety Gap Is Getting Wider A Photographer's Pipe Dream: Capturing New York's Vast Water System Festivals and Parades Are Canceled Amid US Immigration Anxiety A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Princeton Plans New Budget Cuts as Pressure From Trump Builds The steeper capital outflow was partially attributable to mainland investors' hefty buying of Hong Kong stocks this year and the July expansion of the Southbound Bond Connect program that allows more offshore debt investments. Meanwhile, foreign funds continued trimming their holdings of Chinese bonds, likely due to their diminishing relative appeal compared with riskier assets and global alternatives. China is expected to tolerate some capital outflows this year, leveraging a weak-dollar environment to gradually liberalize its capital account — a step aimed at helping the yuan's long-term globalization. In June, regulators raised the amount of money that approved investors can allocate into overseas assets for the first time in more than a year. Onshore investors bought 12.6 billion yuan ($1.8 billion) of overseas debt through the Southbound Bond Connect in July, the highest monthly total this year, according to data compiled by Bloomberg. The increase followed the Hong Kong Monetary Authority's early July announcement expanding access to the channel for Chinese non-bank financial institutions, including securities firms, fund companies, insurers and wealth managers. Outbound investment through approved channels will likely continue to grow this year as 'domestic investors reconsider their portfolio amid improving risk appetite,' said Lynn Song, chief Greater China economist at ING Bank NV. While the outflows may initially seem to pressure the yuan, actual risks are likely contained due to anticipated US interest rate cuts and a narrower China-US yield gap, he said. Offshore institutions' holdings of Chinese bonds in the interbank market dropped about 300 billion yuan in July to the lowest since January 2024, data from the People's Bank of China show. The decline suggests overseas funds joined a broader selloff of debt, influenced by easing US-China trade tensions and Beijing's efforts to combat deflation. The fading appeal of Chinese negotiable certificates of deposits — a once-popular trade that attracted foreign funds — is also contributing to broader bond outflows. Foreign holdings of NCDs fell by about 15% in July — or by 167 billion yuan — a third straight month of accelerated declines. (Updates with analyst comment, foreign bond holding details from fifth paragraph.) What Declining Cardboard Box Sales Tell Us About the US Economy Americans Are Getting Priced Out of Homeownership at Record Rates Living With 12 Strangers to Ease a Housing Crunch Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan How Syrian Immigrants Are Boosting Germany's Economy ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
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Average Closing Costs for Homebuyers in Every US State
Buying a home comes with a number of expenses, one of them being closing costs. These costs are fees you pay to your mortgage lender for items like the home appraisal, title search and administrative costs to close on the loan. Read Next: Find Out: Some government-backed mortgages, such as loans through the Department of Veterans Affairs, have other charges that you can pay upfront or roll into your loan. Typically, you can expect to pay anywhere from 3% to 6% of your mortgage in closing fees. So if your mortgage is for $450,000, then expect to shell out anywhere from $13,500 to $27,000. The amount you'll pay will depend on factors like the price of your home and where it's located. For example, your state may have higher or lower transfer taxes compared to the rest of the country. Research from ClosingCorp via Rocket Mortgage broke down how much you could pay Iin your state. State Average Transfer Taxes Average Closing Costs Alabama $363 $2,623 Alaska $0 $3,581 Arizona $0 $4,701 Arkansas $834 $2,281 California $2,288 $5,665 Colorado $75 $3,806 Connecticut $4,713 $4,108 Delaware $13,971 $3,888 Florida $4,056 $4,498 Georgia $899 $2,863 Hawaii $1,584 $5,879 Idaho $0 $4,082 Illinois $1,196 $4,733 Indiana $0 $2,200 Iowa $405 $2,741 Kansas $0 $2,793 Kentucky $256 $2,546 Louisiana $325 $3,386 Maine $1,556 $2,864 Maryland $10,262 $4,459 Massachusetts $3,060 $4,904 Michigan $2,203 $3,511 Minnesota $1,419 $2,592 Mississippi $0 $2,756 Missouri $0 $2,061 Montana $0 $3,337 Nebraska $571 $2,210 Nevada $2,161 $4,222 New Hampshire $5,379 $2,804 New Jersey $3,757 $4,158 New Mexico $0 $3,513 New York $10,681 $6,168 North Carolina $764 $2,642 North Dakota $0 $2,501 Ohio $877 $3,346 Oklahoma $386 $2,507 Oregon $465 $3,862 Pennsylvania $6,413 $4,221 Rhode Island $2,149 $3,419 South Carolina $946 $2,501 South Dakota $262 $2,843 Tennessee $1,217 $2,694 Texas $0 $4,548 Utah $0 $4,837 Vermont $4,406 $3,500 Virginia $2,885 $3,461 Washington $9,065 $4,862 West Virginia $941 $6,502 Wisconsin $767 $2,465 Wyoming $0 $2,692 Washington DC $23,386 $2,589 How You Can Save on Closing Costs You probably won't be able to avoid paying closing costs completely, but you may be able to pay less. One of the best ways you can do that is to shop different mortgage lenders to compare fees. You can ask what fees they charge and if possible, an estimate of the percentage of the loan amount. Comparing the APR of different lenders will also give you a more accurate insight into how much you could pay overall in interest and fees. You may also be able to shop around third-party providers instead of the one the lender recommends. These include title services, according to the Consumer Financial Protection Bureau. More From GOBankingRates 5 Old Navy Items Retirees Need To Buy Ahead of Fall These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on Average Closing Costs for Homebuyers in Every US State Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
