The Senate Committee on Banking, Housing, And Urban Affairs conducted a hearing on March 2 to consider the nomination of Rohit Chopra for Director of the Consumer Financial Protection Bureau, as well as Gary Gensler's for the Securities and Exchange Commission and The two men are the first of President Biden's financial regulators to face the Senate's [...]
The past year has been hard on many different sectors of the economy, including the housing market. However, growth in consumer confidence and home prices are now accompanied by a jump in U.S. mortgage rates. For the week ending Feb. 25, mortgage rates saw their second consecutive week of rising rates. The week prior, mortgage rates saw an 8-basis [...]
Good news for the American job market as jobless claims, which are new applications for unemployment benefits, fell to their lowest level since November. For the week ending Feb. 20, first-time filings for unemployment insurance totaled 730,000. The filings for benefits are well below the Dow Jones' projection of 845,000. The number is also a decrease of 111,000 [...]
The Biden-era oil market is starting strong with skyrocketing prices as COVID-weary Americans return to the roads. Since the November election, the U.S. oil prices have skyrocketed 69% based on the closing price on Feb. 25 at $63.50. The price increase is rallying faster and steeper than expected as demand outstrips supply increases from OPEC+, Iran, and U.S. shale. [...]
The legal dispute between Epic Games, the creator of Fortnite, and tech Giant Apple is pulling more tech companies into the battle. Epic’s litigation accusing Apple of holding an unfair monopoly power has been growing more contentious since it began six months ago when Epic added a new payment system to its app Fortnite’s iOS version. The [...]
Facebook has committed to making a major contribution to the news industry with a promise to license material from news publishers. Facebook announced that the company would spend at least $1 billion to license news media over the next three years. “Facebook is more than willing to partner with news publishers. We absolutely recognize quality journalism is [...]
The bitter cold that hit Texas and caused massive power outages has brought more trouble for Texans as many are about to get hit with major energy bills due to increased electricity use. The surge in electricity bill prices will hit Texans who chose to pay wholesale prices for their power. Paying wholesale energy prices is typically cheaper than [...]
Home prices rose astronomically in 2020 despite a challenging year for the U.S. economy as the country continues to battle the coronavirus pandemic. December is traditionally the slowest month for the housing market, but December 2020 defied the odds with price gains at the fastest pace in the last seven years. Home prices rose 10.4% year [...]
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