The Good Brigade | Digitalvision | Getty Images Despite being a hallmark of the American Dream, buying a home is less affordable for many these days. Higher mortgage rates and a shortage of houses on the market relative to demand have kept prices elevated and created a financial crunch for many would-be buyers. The median
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August saw an increase in supply for the eighth consecutive month as pent-up demand and front-loaded issuance led issuers to tap the capital markets, leading to the highest monthly total volume for August on record. August’s volume reached $49.174 billion in 873 issues, up 25% from $39.33 billion in 827 issues in 2023. August’s total
Federal Reserve chair Jerome Powell said in a speech in Jackson Hole, Wyo., in August that inflation has been cooling to the point where the central bank is willing to cut the Federal Funds Rate for the first time in four years. Bloomberg News Inflation continued to show signs of easing in the Federal Reserve’s
A proposal to help solve California’s property insurance crisis would tap the bond markets and could involve billions of dollars in debt issuance. The debt would be issued through the California Infrastructure and Economic Development Bank. Assembly Bill 2996 authored by Assemblymember David Alvarez, D-San Diego, would help stabilize the insurance marketplace by bolstering the
The median price per square foot in Manhattan, NY is $1,500, according to My Dolce Casa. Alexander Spatari | Moment | Getty Images Manhattan, New York is infamous for being expensive. The city consistently ranks as one of the world’s most costly places to live in. Purchasing a 500-square-foot condo in New York City can
Municipals were little changed while U.S. Treasury yields rose and equities ended mixed. Municipal bond mutual funds saw inflows as investors added $1.047 billion to funds after $512.9 million of inflows the week prior, according to LSEG Lipper. This marks nine straight weeks of inflows. <img src=”https://public.flourish.studio/visualisation/19228117/thumbnail” width=”100%” alt=”chart visualization” /> High-yield continued to show
A business group filed a lawsuit Thursday challenging the constitutionality of a 2021 Texas law that punishes banks and other financial firms for “boycotting” the fossil fuel industry. The case, brought by the American Sustainable Business Council against Texas Comptroller Glenn Hegar and Attorney General Ken Paxton in federal court in Austin, claims the law
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The Municipal Electric Authority of Georgia’s $373 million of subordinated bonds are scheduled to price on Sept. 5. The bonds are rated A2 by Moody’s Ratings and A-minus by both S&P Global Ratings and Fitch Ratings. The ratings have stable outlooks. BofA Securities will serve as senior manager and Goldman Sachs and Wells Fargo Securities
The Senate Committee on Environment and Public Works is changing leadership regardless of who wins the election as Chairman Tom Carper, a champion of the Biden administration’s tax and infrastructure policies, including the Inflation Reduction Act, will not be returning to Congress next term. “As Chairman of the Senate Environment and Public Works Committee, I’m
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Nebraska Gov. Jim Pillen last week signed into law a package of bills that includes caps on spending authority for local cities and counties. Their signing follows a concerted push by Pillen to pass property tax reform by calling a special session of the legislature on July 25. The governor’s plan originally was to secure
The Securities and Exchange Commission has charged Tensquare, a national charter school support organization, and its partner Karl Jentoft for acting as a municipal advisor on eight municipal bond issuances for eight separate charter schools in Minnesota. Without admitting or denying the findings, Tensquare had been ordered to pay $51,716 in disgorgement, $9,523.59 in prejudgement
Mortgage rates fell last week for the fourth straight week, but neither current homeowners nor homebuyers seemed particularly impressed. Total mortgage application volume rose just 0.5% last week compared to the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances
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A class-action lawsuit filed Monday by Austin, Texas, property taxpayers against the city seeks the elimination of $187 million in property tax revenue allocated in the 2024 tax year for a light-rail project. The litigation is the latest salvo in a legal battle over the ability of the Austin Transit Partnership, a nonprofit corporation created
A recent CreditNews Research study ranked the slowest-selling metro areas in the U.S. The Good Brigade | Digitalvision | Getty Images Even as mortgage interest rates were rising, home prices reached the highest level ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. On a three-month running average ended in June, prices nationally
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