RBC's Calvasina Sees Investors Looking Past Policy to 2026
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Yahoo
2 minutes ago
- Yahoo
Average long-term US mortgage rate eases to 6.74%, keeping home loan borrowing costs elevated
The average rate on a 30-year U.S. mortgage eased this week, offering little relief for prospective homebuyers facing record-high home prices. The long-term rate slipped to 6.74% from 6.75% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.78%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased. The average rate dropped to 5.87% from 5.92% last week. A year ago, it was 6.07%, Freddie Mac said. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership Elevated mortgage rates have been weighing on the U.S. housing market, which has been in a sales slump going back to 2022, when rates started to climb from the rock-bottom lows they reached during the pandemic. Sales of previously occupied U.S. homes, which sank to their lowest level in nearly 30 years in 2024, have remained sluggish this year as rising home prices and stubbornly high mortgage rates have made homeownership financially untenable for many Americans. Elevated mortgage rates are also discouraging many homeowners from selling because they locked in mortgage rates when they were much lower. Mortgage rates are influenced by several factors, from the Federal Reserve's interest rate policy decisions to bond market investors' expectations for the economy and inflation. The main barometer is the 10-year Treasury yield, which lenders use as a guide to pricing home loans. The yield was at 4.41% at midday Thursday, down from 4.40% late Wednesday, following the latest signals that the U.S. economy seems to be holding up OK despite all the pressures on it from tariffs and elsewhere. Yields have moved higher for most of this month as traders bet that the Fed will hold its key short-term interest rate steady at its upcoming meeting next week, despite President Donald Trump demanding that the Fed to lower rates. A less independent Fed could mean lower short-term rates, which influence the interest consumers pay on credit cards and auto loans, but it could have the opposite effect on the longer-term bond yields that influence the rates on home loans. The average rate on a 30-year mortgage has remained relatively close to its high so far this year of just above 7%, set in mid-January. The 30-year rate's low point this year was in early April when it briefly dipped to 6.62%.
Los Angeles Times
4 minutes ago
- Los Angeles Times
Cushman & Wakefield Names Chase Tagen Managing Director in National Equity & Debt Practice
Cushman & Wakefield has announced today that the real estate services firm has hired Chase Tagen as a managing director in the firm's National Debt & Equity practice. Based in the firm's Century City office, Tagen will play a vital role in delivering strategic advisory and liquidity solutions for Cushman & Wakefield's clients. 'We are thrilled to welcome Chase to our team, as his expertise in long-term capital formation solutions through either large sale recapitalizations or programmatic joint ventures will undoubtedly strengthen our ability to deliver tailored solutions for our clients,' said Rob Rubano, head of the firm's Equity, Debt & Structured Finance Platform for the U.S. 'His proven track record aligns with our commitment to providing industry-leading advisory services for our clients.' With over 12 years of capital markets experience, Tagen has executed more than $30 billion in capital markets transactions, including programmatic joint ventures, recapitalizations, GP-led secondaries, GP stakes and capital raising efforts across a broad spectrum of asset classes. His work spans platform capitalizations, portfolio transactions and single-asset equity raises, demonstrating his versatility and expertise in the industry. 'Chase is an exceptional addition to our team,' added Robert Thornburgh, regional president of the Southwest. 'His commitment to excellence and alignment with our culture reflect our ongoing dedication to recruiting best-in-class talent across the region, enabling us to maintain and grow our strong market presence while delivering the highest level of service to our clients.' Tagen joins Cushman & Wakefield from Newmark, where he specialized in raising equity capital across traditional and alternative property types for a diverse client base. His previous experience also includes tenure at CBRE and JLL. 'I'm honored and excited to join Cushman & Wakefield's industry-leading Equity, Debt & Structured Finance team. The firm's unparalleled global platform will allow me to elevate the level of service and solutions I provide to clients, and I am deeply excited about the opportunities ahead,' added Tagen. Tagen earned his Bachelor of Arts in Economics from Emory University and has since established himself as a trusted advisor within the industry. His arrival marks a significant step in the continued growth and momentum of Cushman & Wakefield's Capital Markets platform. Information sourced from Cushman & Wakefield. Learn more by contacting
Business Insider
5 minutes ago
- Business Insider
Lifting fuel from Dangote refinery costs more than importing from Togo, Dangote reveals
In a scathing indictment of the country's port infrastructure and pricing structure, Dangote revealed that lifting refined petroleum products from the Lekki-based refinery is now more expensive for oil marketers than buying from offshore storage depots in neighboring countries, such as Togo. Speaking bluntly at the just-concluded Global Commodity Insights Conference on West Africa's refined fuel market, regarding the economic inefficiencies afflicting the local market, Dangote cited a slew of port-related fees and regulatory constraints that local merchants confront. At the event, which was jointly hosted by the NMDPRA and S&P Global Commodity Insights in Abuja, Dangote noted that multiple fees at the refinery's loading point and discharge at domestic terminals, which are essentially absent when marketers import gasoline from offshore facilities such as the Lomé Floating Storage Terminal, were to blame. 'In terms of port charges, it is currently more expensive to load a domestic cargo of petroleum products from the Dangote Refinery, as customers pay both at the point of loading and the point of discharge. But when they load from Lome, which competes with us, they pay only at the point of discharge. This is simply unfair and unsustainable,' the Nigerian billionaire relayed. As reported by the Punch, after their findings, marketers who source fuel from the Dangote Refinery have to pay these charges. This was also reiterated by the Independent Petroleum Marketers Association of Nigeria National Publicity Secretary, Chinedu Ukadike. 'We don't load in Lomé, but for Nigerian distribution through the coastal route, it is easier to use the vessels here in Nigeria because it is interstate. Most of the international clearance and the rest is not applicable, because you would be able to avoid a lot of charges, both international and local charges,' he stated. 'It is better to load from Dangote via both means. But if you are loading coastal from another country, it is more difficult than when you are loading from Nigeria,' he added. However, some other players have cited the refinery's restrictive sale methods as a reason why there are complications in the supply chain. This point was elaborated on by Executive Secretary of DAPPMAN, Olufemi Adewole, who noted that the way Dangote conducts business does not benefit most local marketers, particularly small businesses that rely on flexible coastal supply chains. 'Since the advent of Dangote refinery, it has not been smooth sailing at all. We had preliminary meetings with their management. We received promises and assurances that we would be accommodated. We are ready and still willing to patronise Dangote. But the issue is, is Dangote ready to give us the product we want?' he stated. 'You don't get the price upfront,' Adewole explained. 'It is only after you've been cleared that a proforma invoice is issued. Meanwhile, there appears to be a select group Dangote prefers to trade with,' he added.
