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NBC News Home Buyer Index
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The following counties were ranked as the least difficult areas when ranked by the four contributing factors:
- Cost: Iroquois County, Illinois is the most cost-effective or affordable real estate market among rated counties in the U.S.
- Competition: Somervell County, Texas is the least competitive housing market of the counties measured in the U.S.
- Scarcity: Imperial County, California is the least scarce housing market among the areas measured.
- Economic instability: Macon County, Tennessee, has the most stable local economy among the areas measured.
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The index assesses cost, competition, scarcity and economic instability.
Cost, the most heavily weighted element, measures how much a home costs relative to household income and inflation, as well as expenses like insurance costs, according to NBC News.
Competition looks at the level of demand in an area or how many buyers are in the market for a home.
Shortage refers to the supply of homes listed for sale in an area and how many more are expected to come on the market in the next month.
And finally, economic instability considers market volatility, unemployment levels and interest rates in an area.
NBC News Home Buyer Index was developed by NBC News in conjunction with housing experts such as a real estate analyst and a banking economist at the Federal Reserve Bank of Atlanta.
On a scale of zero to 100, the index score represents the level of difficulty in buying a home in a US county: The higher the value, the more difficult it is to buy a home in that area, according to NBC.
But to compare counties to each other, it’s important to consider the index’s ranking, as “the rankings provide context to the scores,” said Joe Murphy, data editor at NBC News who co-created the index.
A low ranking on the index — or closer to the value of 1,310, the number of counties measured in this month’s report — suggests the county has better market conditions for potential buyers. In other words, a county ranked number one on the index “is the worst,” Murphy said.
For most Americansbuying – and even keeping – a house in the USA is still expensive.
The median sales price of homes sold in the U.S. was $420,800 in the first quarter of 2024, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau by the Federal Reserve.
In addition to the high cost, the 30-year fixed-rate mortgage in the US is still close to 7%. Borrowing costs are unlikely to change significantly as the Federal police held rates steady at its June meeting.
However, if you plan or want to own a home, there are ways to prepare, experts say.
If you want to be a homeowner but remain on the sidelines, “preparing yourself financially is one of the most important things people can do” before buying a home, said Danielle Hale, chief economist at Realtor.com.
“Spend more time getting your finances in good shape,” said Jacob Channel, senior economist at LendingTree. “It’s really important, especially when you’re making a six-figure purchase, to really take your time.”
Here are three things to consider:
1. Increase your credit score: Take a moment to pay off debt and raise your credit score, Channel said.
Your credit score helps measure how creditworthy you are as a borrower, Hale said. You could qualify for a home purchase with a minimum credit score of 500, depending on the lender, according to for Experian. But having a higher score can help you get better mortgage terms, Hale said.
“Doing what you can to improve your credit score will increase your chances of getting a lower mortgage rate,” Hale said.
2. Seek pre-approval from creditors: “It’s worth starting the process sooner rather than later so there aren’t as many surprises,” Hale said, especially for buyers who have never purchased a home before.
Rate lock policies will depend on the lender. In some cases, a lender will let you lock in a mortgage rate after pre-approving you, Channel said.
But generally, a pre-approval isn’t enough to guarantee an interest rate, Hale said, “because you can’t lock in a mortgage rate until you have a complete mortgage application.”
“And you can’t make a full mortgage application until you have a specific property you want to buy,” she said.
Once a buyer makes an offer on a property and officially begins the application process, it’s possible the lender can guarantee a mortgage rate if you ask, Hale said. Depending on the lender, the mortgage rate will be locked in for a period of 30 to 60 days, which is “enough time for the closing process to happen,” Hale said.
Ask your lender what the rate lock period is and ask at what stage in the process the mortgage rate is locked, Hale said.
3. Budget and Save Intentionally: “What people should do is budget and save,” Channel said. The more time you dedicate to saving money for expenses like down payments and closing costs, he said, “the better off you will be.”
When someone becomes a homeowner, “they will have a higher monthly payment than they had before,” Hale said. So as you prepare for homeownership, consider setting aside an extra down payment, she suggested.
This would help build savings for a down payment or emergency fund and “give you an idea of how comfortable paying for housing really is,” Hale said.
“It’s better to be a renter who can afford your rental unit than to be a homeowner who can’t afford your home,” Channel said.
The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).
The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.
In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.
Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.
Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.
Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.
Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.
Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.
IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.
Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)
Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.
“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”
Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.
An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.
Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.
Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.
Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.
“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.
Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.
But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.
Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.
“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”
Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.
“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”
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News / Business / Latest Business News Live Updates Today, July 11, 2024
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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?
Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.
Jio Financial Services News
Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”
“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.
Jio Financial Stock Target Price
Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”
On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.
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