Sales of new U.S. single-family homes tumbled to a two-year low in April, likely as higher mortgage rates and record prices squeezed first-time buyers and those in search of entry-level properties out of the housing market.
* New home sales drop 16.6% in April. * Sales decline in all four regions. * Median home price surges 19.6% from year ago to $450,600. By Lucia Mutikani. Sales of new U.S. single-family homes tumbled to a two-year low in April, likely as higher mortgage rates and record prices squeezed first-time buyers and those in search of entry-level properties out of the housing market.
Sales of new U.S. single-family homes fell more than expected in April likely as higher mortgage rates and prices squeeze out first-time buyers and those in search of entry-level properties from the housing market. New home sales plunged 16.6% to a seasonally adjusted annual rate of 591,000 units last month, the Commerce Department said on Tuesday.
The Baltic Exchange's main sea freight index dipped on Tuesday, snapping a five session winning streak, as rates declined across the larger vessel segments. * The overall index, which factors in rates for capesize, panamax, supramax shipping vessels, lost 116 points, or 3.4%, to 3,253. * The capesize index dipped 314 points, or 6.8%, to 4,288 points.
Allied Properties Real Estate Investment Trust: * ALLIED ANNOUNCES APPOINTMENT OF HAZEL CLAXTON TO THE BOARD Source text for Eikon: Further company coverage:
CTO Realty Growth Inc (CTO): * REASES QUARTERLY DIVIDEND BY 3.7% AND DECLARES DIVIDENDS FOR THE SECOND QUARTER 2022. * DECLARED A QUARTERLY CASH DIVIDEND OF $1.12 PER SHARE OF COMMON STOCK FOR Q2 OF 2022 Source text for Eikon: Further company coverage:
Canada's top six banks are expected to post an average 12% drop in second-quarter earnings from the previous three months as increased expenses and loan-loss reserves and lower investment banking revenues outweigh strong loan growth and margin expansion from rising interest rates.
Vietnam's VinFast is shifting its headquarters to Singapore as the fledgling electric vehicle maker readies for a public listing and the first production run of cars for U.S. and European markets, its chief executive told Reuters.
Uno sguardo alla giornata, di Julien Ponthus. La presidente della Banca centrale europea, Christine Lagarde, ha ammesso apertamente per la prima volta ciò su cui gli investitori scommettevano già da un po': i tassi di interesse negativi, una caratteristica della zona euro da otto anni, molto probabilmente spariranno entro la fine dell'estate.
A look at the day ahead in markets from Julien Ponthus. European Central Bank President Christine Lagarde openly admitted for the first time what investors had already been betting on for a while: negative interest rates, a eurozone feature for eight years, will most likely be gone by the end of summer.
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