• Housing Market Turning Point?
• What did Warner Bros. Discovery and Paramount Global discuss?
• Why is the Apple Watch being banned?
Opening price as of 12/21/2023 compared to last close
IN THE HEADLINES
US Mortgage Rates Hit 6-Month Low
The US mortgage market sees rates drop below 7%, hinting at a housing market rebound. Real estate stocks surge, driven by companies like ABR and CMTG, responding to declining rates. The Mortgage Bankers Association links this drop to positive inflation news and the Fed’s plan for future rate cuts. With 30-year fixed mortgage rates hitting 6.83%, the lowest since June, and predictions of a total 175 basis point cut by 2025, the market anticipates a thawing housing sector. Despite a recent 1.5% application slowdown, year-over-year trends show an 18% increase. The real estate sector, especially affected by residential mortgage rates, witnesses significant growth, with the Real Estate Select Sector SPDR Fund climbing 24% and the iShares Mortgage Real Estate ETF surging by 30% since late October. Read more
Warner Bros. Discovery and Paramount Global discussed a potential merger
Warner Bros. Discovery’s CEO, David Zaslav, and Paramount Global’s CEO, Bob Bakish, recently met in New York to discuss merging their entertainment empires. The talks, in their early stages, hint at a potential joining of two major players. Warner Bros. Discovery owns HBO, Warner Bros. studios, and the Max streaming service, while Paramount Global boasts CBS, Paramount Pictures, and various cable channels. Although it could offer benefits, merging legacy studios might pose challenges. Yet, this meeting suggests a significant shift in the entertainment industry’s dynamics. Read more
Apple stops US sales of Series 9, Ultra 2 smartwatches due to patent dispute
Apple will stop selling Series 9 and Ultra 2 smartwatches in the US due to a patent dispute over the blood oxygen feature. This decision follows an order from the US International Trade Commission, potentially barring Apple from importing these watches. While under review by President Biden until December 25, Apple is preparing to comply with the ruling, halting sales on its website from December 21 and in stores after December 24. Despite potential minimal holiday sales impact, this dispute might affect Apple’s future device technology. Both companies remain open to negotiations, indicating a possible resolution to the conflict. These watches will continue being sold outside the US, including during the Asian Lunar New Year season. Read more
Housing Prices ‘Are Going to Go Through the Roof’ — But when?
“Once those interest rates come down, all hell’s going to break loose, and the prices are going to go through the roof.”
– Barbara Corcoran, real estate entrepreneur and “Shark Tank” star. Read the Full Article
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