Latest news with #APR
Spectator
a day ago
- Business
- Spectator
Rachel Reeves risks killing off the family business
Changes to how inheritance tax and trusts are treated for non-doms have already put the nation's finances on shakier ground – something I revealed in a cover story last month. Now, a new report suggests these anti-business Treasury policies may risk killing off Britain's family firms too. Fresh analysis by the CBI's economics consultancy, commissioned by Family Business UK, warns that these changes to inheritance tax could jeopardise more than 208,000 full-time jobs over the course of this Parliament. That's more than the entire construction workforce in London. The report says that as small firms retreat from long-term investment, the wider economic consequences could be severe. The government is planning to reform Agricultural Property Relief (APR) and Business Property Relief (BPR) – two long-standing mechanisms that can offer up to 100 per cent exemptions from inheritance tax on qualifying land and business assets.
Forbes
2 days ago
- Business
- Forbes
Today's Mortgage Refinance Rates: June 2, 2025
30-year fixed refinance mortgage rates didn't move at 6.91% today, according to the Mortgage Research Center. Rates averaged 5.84% for a 15-year financed mortgage and 6.78% for a 20-year financed mortgage. Related: Compare Current Refinance Rates At 6.91%, the average rate on a 30-year fixed-rate mortgage refinance is down 1.17% from this time last week. The APR, or annual percentage rate, on a 30-year fixed is 6.94%. This time last week, it was 7.02%. The APR is the all-in cost of your loan. According to the Forbes Advisor mortgage calculator, homebuyers with a 30-year fixed-rate mortgage refi of $100,000 will pay $659 per month in principal and interest (not accounting for taxes and fees) at the current interest rate of 6.91%. You'd pay around $138,036 in total interest over the life of the loan. The average interest rate on the 20-year fixed refinance mortgage is 6.78%. The same time last week, the 20-year fixed-rate mortgage was at 6.87%. The APR on a 20-year fixed is 6.81%, compared to 6.91% last week. A 20-year fixed-rate mortgage refinance of $100,000 with today's interest rate would cost $762 per month in principal and interest. Taxes and fees are not included. Over the life of the loan, you would pay around $83,373 in total interest. For a 15-year fixed refinance mortgage, the average interest rate is currently 5.84%. Last week, the 15-year fixed-rate mortgage stood at 5.93%. The APR, or annual percentage rate, on a 15-year fixed mortgage is 5.89%. Last week, it was 5.98%. Based on the current interest rate, a 15-year, fixed-rate mortgage refinance of $100,000 would cost $835 per month in principal and interest—not including taxes and fees. That would equal about $50,788 in total interest over the life of the loan. The average interest rate on the 30-year fixed-rate jumbo mortgage refinance (a loan above the federal conforming loan limit of $806,500 in most places) declined week-over-week to 7.61%. A week ago, the average rate was 7.66%. Borrowers with a 30-year fixed-rate jumbo mortgage refinance with today's interest rate will pay $706 per month in principal and interest per $100,000 borrowed. A 15-year, fixed-rate jumbo mortgage refinance has an average interest rate of 6.28%, down 1.81% from last week. At today's rate, a borrower would pay $859 per month in principal and interest per $100,000 borrowed for a 15-year, fixed-rate jumbo refi. Over the life of the loan, that borrower would pay around $54,827 in total interest. Refinance rates are different from mortgage rates and tend to be slightly higher. The rate difference can vary by program and is something to consider as you compare the best mortgage refinance lenders. In addition to having different refinance rates for conventional, FHA, VA and jumbo applications, cash-out refinance rates are higher as you're borrowing from your available equity. Rates for government-backed loan programs such as FHA and VA mortgage refinances can be lower than a conventional or jumbo refinance, as there is less risk for lenders. Still, you should compare your estimated loan's annual percentage rate (APR), which includes all additional fees and determines the interest charges. When considering a mortgage refinance, compare your current interest rate, mortgage balance and loan term with the new interest rate and term. This comparison helps you estimate your new monthly payment and savings, making it easier to determine if refinancing is the right choice. There are a number of reasons why you should refinance your home, but many homeowners consider refinancing when they can lower their interest rate, reduce their monthly payments or pay off their home loan sooner. Refinancing also may help you access your home's equity or eliminate private mortgage insurance (PMI). A home loan refinance may make sense particularly if you plan to remain in your home for a while. Even if you score a lower interest rate, you need to take the loan costs into consideration. Calculate the break-even point where your savings from a lower interest rate exceed your closing costs by dividing your closing costs by the monthly savings from your new payment. Our mortgage refinance calculator could help you determine if refinancing is right for you. Just like when you took out your original mortgage, it pays to have a strategy for finding the lowest rate when you want to refinance. Here's what you should be doing to get a good mortgage rate: There are no guarantees when it comes to borrowing, but a strong credit score is one of the best things you can do to present yourself to lenders. Banks and other mortgage refinance lenders are more likely to approve you if you don't have too much debt relative to your income. You should check in on mortgage rates, which fluctuate frequently, on a regular basis. And use calculators like ours to see if you can swing a home loan that's shorter in duration than the popular 30-year mortgage. These loans usually have lower interest rates. Since the final quarter of 2024, national average mortgage rates have remained in the middle-to-high 6% range, and experts expect this trend to continue through the first half of 2025. If inflation slows and unemployment levels hold steady or rise, the Federal Reserve may reduce the federal funds rate, potentially leading to lower mortgage rates in the second half of the year. However, if inflation stays high and unemployment decreases, rates are likely to remain stable. Since mortgage rates are expected to change little in the first half of the year, those looking to refinance at a lower rate should consider waiting until later in the year. In the meantime, improving your credit score and paying down your loan balance will help you secure the lowest possible rate when you're ready to explore refinancing options. Refinance interest rates can be higher or lower than your original loan rate. Your credit score, income, repayment history, and current national interest rates will determine whether you qualify for a lower rate. These factors may also lead a lender to offer you a higher rate. Additionally, lenders may offer a higher rate if you plan to access your home equity. This increases your loan amount and, consequently, the lender's risk. Yes, you can refinance a 30-year fixed mortgage. Refinancing can help you lower your interest rate, reduce your monthly payments and save you money in the long run. Refinancing also allows you to change your loan term. You can switch to another 30-year mortgage or choose a shorter term, like a 15-year mortgage. The amount of equity you need to qualify for refinancing depends on the lender, but most recommend having at least 20% equity, or a loan-to-value ratio of 80% or lower. If you have less than 20% equity, you may still qualify for refinancing, but you could face higher interest rates or be required to pay additional fees, such as PMI.
Toronto Sun
4 days ago
- Politics
- Toronto Sun
VUONG: Supervision needed for TDSB to refocus on education
The next generation is paying the price for the school board's activism agenda The Toronto District School Board head office located at 5050 Yonge St. in North York. Photo by JACK BOLAND / TORONTO SUN FILES The Toronto District School Board (TDSB) is under financial investigation, but last week's vote has made it clear that it's not just their financial mismanagement and $58-million deficit that needs to be scrutinized. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Just last week, on May 21, the TDSB voted to accelerate the timeline for the creation of an anti-Palestinian racism (APR) strategy. Like the recent news of the City of Toronto moving forward with a 'Black-mandated' shelter for only homeless Black people and staffed by only Black employees, this is the latest in an alarming trend of increasing institutionalized segregation. Instead of focusing on students' shared Canadian identity and what unites them, the TDSB is further balkanizing the student body where they are being divided by what makes them different. How does greater division by emphasizing differences create a more inclusive classroom and learning environment? What message are they sending to students of other communities? Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Moreover, now is not the time to be taking on new matters, requiring new resources with money that the TDSB doesn't have, when the school board has been failing to fulfill its core mandate of educating our children and youth. One need only look at the school board's EQAO and Grade 10 literacy test results to see how our next generation is paying the price for the TDSB's activism agenda. Take their grade 3 EQAO results. Their students perform worse than the provincial standard in every tested area of reading, writing, and mathematics. Their Grade 6 students fare slightly better; they exceed the province in mathematics but are worse in reading and writing. The high school figures are the most alarming. In Grade 9, while the TDSB does marginally better in the EQAO's mathematics assessment, the fact is only a little over half of their students (56.4%) met the provincial standard. Put another way, almost half are failing. This advertisement has not loaded yet, but your article continues below. But, if you drill down further into the TDSB's own published analysis of individual school performance for 2021-22 (the most recent EQAO Grade 9 mathematics data available), the results will show you the true price of activism at the expense of education: — At 30 of the TDSB's 73 high schools, less than half of the students passed. — At 16 of the 73 schools, only one third or less of the students passed. — At 8 of the 73 schools, only one fifth or less of the students passed. — At one school, alarmingly, only 6% passed. Perhaps unsurprisingly, some of the schools struggling to pass are represented by trustees who have been distracted with their own political activism instead of fulfilling their responsibility of advancing student achievement. This advertisement has not loaded yet, but your article continues below. Trustee Alexis Dawson (Davenport and Spadina-Fort York), who claimed credit for championing the APR motion alongside her colleague Debbie King (Parkdale-High Park), as well as TDSB Chair Neethan Shan (Scarborough Centre) all represent schools where the majority of students are failing to meet the provincial standard: — David and Mary Thomson Collegiate Institute, 19% pass rate, Trustee Neethan Shan. — Oakwood Collegiate Institute, 44%, Trustee Alexis Dawson. — Runnymede Collegiate Institute, 30%, Trustee Debbie King. — Wexford Collegiate School of the Arts, 42%, Trustee Neethan Shan. — Winston Churchill Collegiate Institute, 20%, Trustee Neethan Shan. What's abundantly clear is that the TDSB has lost its way — student success has taken a backseat to ideology and grievance politics. The institution has become too focused on activism at the expense of education, and the school board's test results show us how students are already paying the price. This advertisement has not loaded yet, but your article continues below. They need a reset. This is why Ontario's education minister must place the TDSB under supervision. Our children and youth need education, not indoctrination, and far too many of the school board's trustees and administration have shown us that this change will not happen organically. The minister must act. Our next generation cannot afford to wait for the TDSB to get their act together. — Kevin Vuong is a proud Torontonian, entrepreneur, and military reserve officer. He was previously the Member of Parliament for Toronto's Spadina-Fort York community, and is the father of a beautiful little girl who will reach school age in the next few years. Crime Sunshine Girls Toronto Maple Leafs Sunshine Girls Toronto Raptors
Associated Press
5 days ago
- Business
- Associated Press
AeroFlexx's Innovative Liquid Packaging Receives Critical Guidance Recognition from Association of Plastic Recyclers
WEST CHESTER, Ohio, May 29, 2025 (GLOBE NEWSWIRE) -- AeroFlexx, a leader in sustainable packaging, has received Critical Guidance Recognition for recyclability from the Association of Plastic Recyclers (APR) for its proprietary mono-material AeroFlexx Pak. APR's Critical Guidance Recognition is one of the most widely accepted benchmarks for evaluating plastic packaging and provides independent validation and credibility that the AeroFlexx Pak is designed for recyclability. Under the APR Design® Recognition Program, innovations must undergo rigorous third-party testing and independent review to ensure they meet the stringent requirements of the Critical Guidance test protocol FPE-CG-01. Achieving this comprehensive recognition confirms compatibility of PE-based films and flexible packaging innovations with film reclamation systems sourcing post-consumer films from store drop-off collection points or, in some cases, curbside collection. 'Receiving recognition from APR is a significant milestone for AeroFlexx,' said Andrew Meyer, AeroFlexx CEO. 'It reinforces our ability to deliver packaging innovations that function seamlessly within today's recovery systems while advancing sustainability goals for brands and supply chain partners.' AeroFlexx addresses a long-standing challenge in the packaging industry by introducing innovative packaging technology that combines the benefits of flexible and rigid packaging into an all-in-one solution. As a result, the AeroFlexx Pak can eliminate up to 85% of virgin plastic compared to a traditional rigid bottle, cap, and label. This is made possible by having up to 70% less plastic at the source and can incorporate up to 50% recycled content. Translating the potential sustainability benefits, with just 2.5B units of market adoption, the AeroFlexx Paks would save 599.4 million kilowatt-hours of energy and 65.3 million gallons of gas. Furthermore, CO2 emissions would be reduced by 256.8 million pounds, and landfills would be spared from 980.8 million pounds of waste. In addition, the AeroFlexx production process yields up to 83% less waste to landfills, 73% less water use, and 69% GHG reduction compared to the traditional rigid bottle process, making the AeroFlexx Pak a revolutionary step toward reducing the packaging industry's global footprint and supporting the circular economy efforts. About AeroFlexx: AeroFlexx is a full-service liquid packaging company providing sustainable solutions to the marketplace. By combining the best attributes of flexible and rigid packaging into a single product offering, the technology is transforming the industry as it delivers a preferred consumer experience and creates significant brand value, all while introducing unprecedented sustainability benefits. Headquartered in West Chester, Ohio, and part of the Innventure ( NASDAQ:INV ) family of companies, AeroFlexx provides packaging and manufacturing solutions in Europe, Southeast Asia, and the Americas. To learn more, visit or follow us on LinkedIn.] Contact: Bethany Sersion [email protected]
Forbes
6 days ago
- Business
- Forbes
Mortgage Rates Today: May 29, 2025
The current average mortgage rate on a 30-year fixed mortgage is 6.93% with an APR of 6.96%, according to the Mortgage Research Center. The 15-year fixed mortgage has an average rate of 5.93% with an APR of 5.98%. On a 30-year jumbo mortgage, the average rate is 7.54% with an APR of 7.55%. Today's 30-year mortgage—the most popular mortgage product—is 6.93%, down 0.19% from a week earlier. The interest rate is just one fee included in your mortgage. You'll also pay lender fees, which differ from lender to lender. Both interest rate and lender fees are captured in the APR. This week the APR on a 30-year fixed-rate mortgage is 6.96%. Last week, the APR was 6.97%. Let's say your home loan is $100,000 and you have a 30-year, fixed-rate mortgage with the current rate of 6.93%, your monthly payment will be about $660, including principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator shows. That's around $138,518 in total interest over the life of the loan. Today's 15-year mortgage (fixed-rate) is 5.93%, down 1.27% from the previous week. The same time last week, the 15-year, fixed-rate mortgage was at 6%. The APR on a 15-year fixed is 5.98%. It was 6.06% a week earlier. A 15-year, fixed-rate mortgage with today's interest rate of 5.93% will cost $840 per month in principal and interest on a $100,000 mortgage (not including taxes and insurance). In this scenario, borrowers would pay approximately $51,690 in total interest. Today's average interest rate on a 30-year fixed-rate jumbo mortgage (a mortgage above 2025's conforming loan limit of $806,500 in most areas) climbed 0.82% from last week to 7.54%. Borrowers with a 30-year, fixed-rate jumbo mortgage with today's interest rate of 7.54% will pay approximately $702 per month in principal and interest per $100,000 borrowed. That would be $153,050. Although mortgage rates mainly fell after reaching a high in spring 2024, they surged again in October 2024. This is despite the Federal Reserve's cuts to the federal funds rate (its benchmark interest rate) in September, November and December 2024. While rates have fallen somewhat since mid-January 2025, experts don't expect them to drop significantly anytime soon. Various economic factors influence mortgage rates, making it challenging to forecast when rates will drop. The Federal Reserve's decisions significantly impact mortgage rates. In response to inflation or an economic downturn, the Fed may lower its federal funds rate, prompting lenders to reduce mortgage rates. Mortgage rates also track U.S. Treasury bond yields. If bond yields drop, mortgage rates typically follow suit. Finally, global events that cause financial disruptions can affect mortgage rates. For example, the Covid-19 pandemic led to record-low interest rates when the Fed cut rates. While a significant decrease in mortgage rates is unlikely in the near future, they may start to decline if inflation eases or the economy weakens. The first step on your homebuying journey should be to calculate affordability. You'll want to find out how much you can afford based on things like income, debt and savings. Here are a few important factors that go into home affordability: Mortgage interest rates are determined by several factors, including some that borrowers can't control: While the above factors set the base interest rate for new mortgages, there are several areas that borrowers can focus on to get a lower rate: As you compare lenders, consider getting rate quotes for several loan programs. In addition to comparing rates and fees, these programs can have flexible down payment and credit requirements that make qualifying easier. Conventional mortgages are likely to offer competitive rates when you have a credit score between 670 and 850, although it's possible to qualify with a minimum score of 620. This home loan type also doesn't require annual fees when you have at least 20% equity and waive PMI. Several government-backed programs are better when you want to make little or no down payment: Comparing lenders and loan programs is an excellent start. Borrowers should also strive for a good or excellent credit score between 670 and 850 and a debt-to-income ratio of 43% or less. Further, making a minimum down payment of 20% on conventional mortgages can help you automatically waive private mortgage insurance premiums, which increases your borrowing costs. Buying discount points or lender credits can also reduce your interest rate. Most rate locks last 30 to 60 days and your lender may not charge a fee for this initial period. However, extending the rate lock period up to 90 or 120 days is possible, depending on your lender, but additional costs may apply. Choosing between a fixed- or adjustable-rate mortgage (ARM) depends on your financial situation. A fixed-rate mortgage suits those who want consistent monthly payments throughout the loan term without worrying about fluctuations in their rate or payments in response to market changes. If mortgage rates are low, securing a fixed rate can save you money in the long run. An ARM, on the other hand, may appeal to those who want a lower initial rate and monthly payment. However, you also run the risk of ending up with higher payments if your rate fluctuates. If you expect your income to rise, you may feel confident handling these potential payment increases. These mortgages can also work well for those who plan to live in a home for only a few years, as you might sell or move before the rate adjusts.
