Latest news with #ChristopherWaller
Business Recorder
17 hours ago
- Business
- Business Recorder
Japanese yen-led dollar pullback to offer mild support to Indian rupee at open
MUMBAI: The Indian rupee is poised to open slightly higher on Tuesday, supported by a retreat in the dollar index that was largely triggered by a post-electionrally in the Japanese yen. The 1-month non-deliverable forward indicated the rupee will open in the 86.20-86.22 range, versus 86.2925 in the previous session. On Monday, the Indian rupee weakened to 86.35 per dollar, its lowest level in a month, extending its losing streak to four sessions. Bankers attributed the decline to sustained dollar demand from importers and positioning in the non-deliverable forward (NDF) market. A lack of equity inflows has added to the pressure on the currency. The trading range on USD/INR 'has probably shifted higher,' with the 86.00–86.10 now acting as a support zone, a currency trader at a Mumbai-based bank said. 'Interbank is more inclined to buying dips than trying to call the top,' the trader added. The rupee at open is likely to find some support from the drop in the dollar index, which slid 0.62% on Monday — its steepest fall in over a month. The decline was spurred by a 1% jump in the yen. While the ruling coalition lost its majority, Prime Minister Ishiba's remarks that he would stay offered comfort to the yen, analysts said. Outside the yen, other Asian currencies were mixed on Tuesday, with the focus squarely on any progress on trade talks before the August 1 deadline for countries to strike deals with the U.S. or face high tariffs. Focus will also be on the outlook for Federal Reserve rate cuts. Last week, Fed Governor Christopher Waller signalled he may dissent at next week's meeting, where policymakers are widely expected to keep rates unchanged. 'Waller remains in the distinct minority of two. We'll likely need to see very soft data, especially on the labour market, to convince investors that early cuts are on the table,' ING Bank said in a note.
Yahoo
2 days ago
- Business
- Yahoo
The HELOC rate today, July 21 2025: Home equity line of credit rates continue to be stable
The HELOC interest rate is still under 8.75%. Federal Reserve Chairman Jerome Powell remains clearly in the "wait and see" mode; however, on Friday, Fed Governor Christopher Waller called for a rate cut at the July 30 meeting. While that is a long shot, whenever short-term interest rates are lowered, the prime rate will fall, and as a result, home equity line of credit interest rates may ease a bit. Of course, a HELOC often comes with a limited-time introductory rate that's slightly below market. Then, if rates fall, you'll get the benefit when your variable rate is triggered. Now, let's check the latest HELOC rate. Dig deeper: HELOC vs. cash-out refinance — Which is better? HELOC rates Monday, July 21, 2025 According to Bank of America, the largest HELOC lender in the country, today's average APR on a 10-year draw HELOC is 8.72%. That is a variable rate that kicks in after a six-month introductory APR, which is 6.49% in most parts of the country. Homeowners have a huge amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not likely to let go of their primary mortgage anytime soon, so selling the house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of the value locked into your house with a use-it-as-you-need-it HELOC can be an excellent alternative. How lenders determine HELOC interest rates HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. Lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan, so it pays to shop around. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. How a HELOC works You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. Look for introductory rates, but be aware of a rate adjustment later Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. HELOC rates today: FAQs What is a good interest rate on a HELOC right now? Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. Is it a good idea to get a HELOC right now? For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. What is the monthly payment on a $50,000 home equity line of credit? If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
Ammon
2 days ago
- Business
- Ammon
Gold steady as investors await US trade updates, central bank meetings
Ammon News - Gold prices were little changed on Monday as investors monitored developments in U.S. trade talks and awaited potential market-moving catalysts, including the U.S. Federal Reserve's policy meeting scheduled for next week. Spot gold held its ground at $3,352.19 per ounce, as of 0250 GMT. U.S. gold futures were steady at $3,358.70. "Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large," KCM Trade Chief Market Analyst Tim Waterer said. "The closer we move towards the key August 1 deadline without any new trade deals emerging, the more likely gold is to start fancying another run to towards the $3,400 level and perhaps beyond." At its meeting later this week, the European Central Bank is expected to hold interest rates steady at 2.0% following a string of cuts. Last week, Federal Reserve Governor Christopher Waller said he still believes that the U.S. central bank should cut rates at its policy meeting next week. Elsewhere, spot silver edged 0.1% higher to $38.22 per ounce, platinum added 0.3% to $1,425.11 and palladium gained 0.2% to $1,243.47. Reuters
Bloomberg
2 days ago
- Business
- Bloomberg
Gold Steadies as Fed Officials Express Mixed Views on Rate Cuts
Gold was steady as markets opened on Monday, with traders weighing differing views from US Federal Reserve officials on how President Donald Trump's tariff agenda will impact inflation. Bullion traded near $3,350 an ounce — after a small decline last week — as Fed Governor Christopher Waller advocated for a rate cut last week. Governor Michelle Bowman has also expressed an openness to a reduction, while their colleagues remained more cautious due to the risk of persistent inflation triggered by tariffs. Lower borrowing costs tend to benefit gold as it doesn't pay interest.
See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
Silver Continues Rally Amid Global Tensions and Rate Cut Expectations
Waleed Farouk Silver prices witnessed notable fluctuations in the local market over the past week, influenced by volatile movements on global exchanges. The metal touched its highest level in over 14 years before retreating due to profit-taking by some investors. Local Market Performance In the local market, the price of 800-purity silver ranged between EGP 52 and EGP 53 per gram before settling back at EGP 52 by the end of the week. The 999-purity silver was priced at EGP 65 per gram, while 925-purity silver stood at EGP 60. The price of a silver pound coin (925) is recorded at around EGP 480. Global Market Movements Globally, silver opened the week at $38.32 per ounce, rose to a peak of $39.13 — the highest since 2011 — then declined to $37.65, and finally closed the week at $38.11, marking a slight weekly drop of $0.11. Strong Performance Year-to-Date Since the beginning of 2025, silver prices have surged 27% in the local market, with the 800-purity silver rising by EGP 11 after starting the year at EGP 41. On the global front, the metal has jumped 32%, climbing from $29 to $38.11 per ounce, outperforming most other precious metals over the same period. Despite the recent slight pullback, the overall trend remains bullish. Silver is currently trading above short-term price averages, indicating continued buying momentum in the market. External Drivers Supporting Silver's Rally Several external factors have contributed to silver's upward trajectory this week, including: Falling U.S. Bond Yields The yield on 10-year U.S. Treasuries fell to 4.42%, while 2-year yields dropped to 3.87%, reducing the opportunity cost of holding non-yielding assets like precious metals, and boosting silver's appeal among institutional investors. Rising Expectations of Rate Cuts Federal Reserve Governor Christopher Waller called for early action on interest rate cuts, possibly as soon as July, citing signs of weakness in the private labor market. Markets are now pricing in a 45-basis-point cut by year-end, with the first move expected in September. Dollar Weakness The U.S. Dollar Index closed at 98.462, down 0.16% in the last session, despite weekly gains. The decline was driven by falling bond yields, mixed inflation data, and growing political pressure on Fed Chair Jerome Powell. Escalating Global Trade Tensions President Donald Trump reignited trade fears by threatening to impose tariffs of 15% to 20% on European goods. Additionally, trade negotiations with both Japan and Indonesia remain stalled, adding to global economic uncertainty. Can Silver Sustain Its Momentum? According to analysts at Citibank, silver's strong rally, especially since April, points to further upside potential. The bank forecasts prices reaching $40 within the next 6 to 12 months, and possibly hitting $46 by Q3 2025, supported by increasing industrial demand, tightening global supply, and ongoing geopolitical and monetary uncertainty. Some analysts also argue that silver remains undervalued based on the gold-to-silver ratio, which currently stands at around 87.3 compared to the historical average of 53. A return to this average, assuming gold prices remain steady, would suggest silver should trade above $63 per ounce — a 65% increase from current levels. Historically, silver's 1980 peak would equate to around $197 per ounce in today's dollars, while its 2011 surge saw prices near $71, implying that silver still has substantial room to rise from current levels near $38.40. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Arts & Culture "Jurassic World Rebirth" Gets Streaming Date Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks
