Price cuts elevated nationally as buyers gain more leverage

Average mortgage rates are down week-on-week for the first time in more than a month, according to the latest Moneyfacts rate watch. The typical two-year fix has fallen from 5.63% last week to 5.61% now, whereas the average five-year fell from 5.67% to 5.64%. The largest falls were seen in three-year fixes to 70% LTV,…

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Investment banker Morgan Stanley sounded an alarm on the artificial intelligence industry this morning — and took a chunk out of Microsoft‘s (MSFT -3.11%) market cap when it did it. AI revenue isn’t rising as fast as AI cost, and Microsoft could end up poorer as a result. Shares of the mega-tech hyperscaler stock are…

The rupee extended its upward momentum, rising 35 paise to 95.64 against the US dollar in early trade on Tuesday, driven by lower crude oil prices amid easing geopolitical tensions. Forex traders said a weak US dollar index and positive equity market sentiment further boosted the Indian currency. At the interbank foreign…

Developer El-Ad National Properties has paid $60 million for an oceanfront hotel in Fort Lauderdale, Fla., property records show. The 99-room Sea Club Resort sits on a 1.2-acre site at 619 North Fort Lauderdale Beach Boulevard, between Belmar and Auramar streets. The 54,982-square-foot building dates back to 1954. SEE ALSO: Longfellow Sells Hatch Life Sciences…