That was Fast: Mortgage Rates Re-Spike to 7% Range as it Sinks in that the Fed Won’t Cut Rates “Anytime Soon,” Mortgage Applications Plunge to 1995 Levels. Even Investors Pull Out
Spring selling season was a dud. But what comes next may be worse, that’s what mortgage applications and investors tell us. By Wolf Richter for WOLF STREET. The...
Bitcoin mining firms keep building despite BTC mining profitability slump By Cointelegraph
© Reuters. Despite a 44% decline in (BTC) mining profitability over the last year, some Bitcoin mining companies have continued to build and increase production,...
Auto loan delinquencies for young Americans at highest level since 2009
More young Americans are late paying their car loans – approaching levels not seen since the Great Recession, according to a report from the New...
Losses from crypto rug pulls outpaced DeFi exploits in May: Beosin By Cointelegraph
© Reuters. The amount of cryptocurrency lost to “rug pull” or “exit scams” — where founders suddenly up and leave with investors’ money — had...
Elon Musk rang the alarm on house prices and commercial real estate this week. Here’s why he’s worried about a property disaster.
Elon Musk says commercial real estate is “melting down fast.”Patrick Fallon/Reuters Elon Musk warned this week that commercial real estate is in meltdown and house...
Crypto markets ‘lackadaisical’ as institutional buying slows — Novogratz By Cointelegraph
Galaxy Digital CEO Mike Novogratz has described the broader crypto market as being “lackadaisical” — or lacking enthusiasm — due mainly to a shying away...
Social Security and Medicare Are Ticking Time Bombs
Social Security is toast. So is Medicare. Too many of us old people live longer, so there are not enough working people to support us....
Hong Kong-based First Digital Group launches redeemable USD-backed stablecoin By Cointelegraph
First Digital Group, a Hong Kong-based qualified custodian and trust company, announced the launch of its First Digital USD (FDUSD) United States dollar-pegged stablecoin on...
Bitcoin did it better: AI search interest on Google reaches fever pitch By Cointelegraph
Global search interest for the term “AI” has reached a new all-time high on Google (NASDAQ:), though it’s yet to hold a candle to peak...
US Manufacturing Surveys Signal “Renewed Deterioration Of Business Conditions” In May, Orders/Prices Plunge
With overall macro data serially surprising to the downside in May, it is no surprise that expectations were for sub-50 (contractionary) prints for ISM &...