In the United States, the most common choice for homebuyers seeking a mortgage is the 30-year fixed-rate option. This type of mortgage is considered to be a distinctly American creation, as stated by Greg McBride, who serves as the chief financial analyst for Bankrate. With a 30-year fixed-rate mortgage, borrowers have the advantage of spreading
Disney has been gearing up for a significant shift in its business model, particularly focusing on its streaming services. The recent second-quarter results indicate a notable improvement in the financial performance of Disney’s streaming units. From a loss of $659 million a year ago to losing just $18 million this quarter, Disney+ Hulu, and ESPN+
Billionaire investor Stanley Druckenmiller made headlines when he revealed that he had significantly reduced his position in chipmaker Nvidia earlier this year. Druckenmiller cited concerns about the potential overvaluation of Nvidia due to the rapid growth of artificial intelligence technology. He mentioned that the stock’s meteoric rise from $150 to $900 prompted him to take
The latest study on global wealth distribution has revealed that New York City stands as the richest city in the world, boasting an impressive 359,500 millionaires and 60 billionaires. Over the past decade, New York has experienced a remarkable 48% surge in its millionaire population, defying concerns of wealth flight and the challenges posed by
As the baby boomer generation ages, there is a significant amount of wealth that is set to be passed down to the next generation. However, recent reports have highlighted a growing disconnect between how much millennials and Generation Z expect to inherit and what their aging parents actually plan on leaving them. While 68% of
Nintendo recently announced that they will be revealing the successor to their beloved Switch console within this fiscal year, specifically by March 2025. This news comes after the company reported a decline in profit, attributing it to the slowing sales of the current Switch model. The announcement teased by Nintendo President Shuntaro Furukawa has left
The Social Security Administration’s trust funds, which are crucial for paying out benefits, are now projected to run out in 2035, which is one year later than previously estimated. This improvement can be credited to more individuals contributing to the program due to a strong economy, low unemployment rates, and higher job and wage growth.
The dream of owning a home seems to be slipping further away for renters, as indicated by a recent New York Federal Reserve survey. The percentage of renters who believe they will one day be able to afford a home has reached a record low at 13.4% in 2024, down from 15% in the previous
Equinox, the high-end fitness chain, is making waves in the industry with the launch of one of the most expensive gym memberships in the world. Priced at $40,000 per year, the “Optimize by Equinox” program is designed to enhance overall health and longevity. By partnering with lab-test startup Function Health, Equinox aims to provide a
Monday saw an increase in U.S. stocks following gains from the previous session. The S&P 500, Dow, and Nasdaq all rose by over 1% after a softer-than-expected jobs report. This boost in the market was attributed to signs that the Federal Reserve’s monetary tightening efforts were having a positive impact on the U.S. economy, paving