WHEN ADNAN SABIC began looking for a home in 2023, he was shocked. The hotel executive, whose wife had just given birth to twins, could not believe how mortgage rates had rocketed. Then he found a four-bedroom house listed for $775,000 with a nice selling point. Rather than borrow at 6% and pay $4,500 a month, Mr Sabic could “assume” the seller’s mortgage, at 2.6%, and pay just $3,100.
A world-historical financial event was the 1971 default by the United States on its international commitment to redeem dollars for...
Wholesale prices rose at a faster-than-expected pace in January, countering hopes that inflation was easing, the Bureau of Labor Statistics...
Sam Enright works on innovation policy at Progress Ireland, an independent policy think tank in Dublin, and runs a publication...
Official data already shows that US data centers consumed about 176 terawatt-hours of electricity in 2023, representing roughly 4.4% of...
The resignation of World Economic Forum President Borge Brende is being framed in the press as a simple leadership transition,...
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 increased 170.27 points or 0.29% to...
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