China industrial output, retail sales beat forecasts in September
China industrial output, retail sales beat forecasts in September
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With rates sky-high, mortgages drag down banks’ earnings
Key insight: As borrowing to buy or refinance a home becomes less attractive, mortgage lending is suffering at many big banks. Supporting data: At PNC Financial Services Group, quarterly noninterest income from mortgages was down 16% year over year. Processing Content As mortgage rates soar, many banks are feeling the pain in their residential loan…
Kelly Stowell rejoins Accord as regional sales manager – Mortgage Strategy
Accord Mortgages has appointed Kelly Stowell as regional sales manager for London, the South-East and Northern Ireland. Stowell returns to Accord after three years with NatWest’s private banking division. Having originally joined Accord as an underwriter in 1997, she was part of the team during the early years of the firm. As regional sales manager,…
How a handful of projects reshape Manhattan’s luxury markets
Just a handful of addresses are driving the luxury market in some of Manhattan’s priciest neighborhoods. Last quarter, signed contracts at the borough’s hottest new developments accounted for hefty shares of the luxury volume in their respective neighborhoods, boosting activity and, in some cases, doubling the median price per square foot. The findings come from…
Why advisors should get involved when clients take out a mortgage
Key insight: When it comes to homebuying, advisors can make an impact for clients by helping them understand the advantages of shopping for the best mortgage rates. What’s at stake: Borrowers spend $65 billion annually on excess interest, according to Bankrate.com, or more than $3,300 per household. Expert quote: “The expertise financial planners can provide…
Gold stays poised to post third straight week of gains
Gold has been a hot topic this week again, owing much thanks to the US Treasury move on Wednesday. Bessent & co. called to double buybacks at the long-end of the curve and that led to a return of two key tailwinds for gold. That being a fall in the dollar and Treasury yields falling/being…
Match-Prime COO Departs After Nearly Seven Years
Stavros Economides has left Match-Prime Liquidity after almost seven years with the company, according to a LinkedIn post published today (Friday). He most recently served as Chief Operating Officer, according to his LinkedIn profile. “When I joined, liquidity was a very different conversation than it is today,” Economides said. He described his time at Match-Prime…
