Business

Blink, and you missed your chance to refi. And according to nationalized mortgage giant Freddie Mac, it's about to get worse.

As shown last week, as a result of the recent spike in yields, the population of eligible refinance candidates has already plunged by more than half. As Black Knight pointed out, as of the end of November, though there are still 2M borrowers who could save $200+/month by refinancing and a cumulative $1B/month in potential savings, this is less than half of the $2.1B/ month available just four weeks ago.

Submitted by Tho Bishop via The Mises Institute,

It finally happened. The Fed raised interest rates a quarter of a percentage point for the first time in 2016, after forecasting four rate hikes a year ago. The decision was highly anticipated following the market’s surge post-Trump election (Paul Krugman’s biggest miss since the success of the internet).

We warned it might anmd sure enough, following news of another one billion accounts hacked overnight, Bloomberg reports that Verizon is exploring a price cut or possible exit from its $4.83 billion pending acquisition of Yahoo, according to a person familiar with the matter.

Submitted by Ronan Manly, BullionStar.com