- Scoops
- Posts
- Daily Scoop 22-12-20
Daily Scoop 22-12-20
👋 Your Tuesday Scoops - Nio blackmail & Uber NYC driver strikes
Today's Scoop:Relief
Big Picture
New home construction has slowed significantly.
Policymakers around the world have been raising interest rates.
Rent costs are coming down.
The Market:
⬆️
+0.1%
S&P 500: 3,821.62
1Mo:
-3%
| 1Yr:
-18%
| 5Yr:
+42%
The market drifted higher today after a long stretch of negativity.
Policymakers worldwide are raising interest rates to make it tougher to borrow and spend.
Last week, the US Central Bank raised baseline interest rates to over 4% and promised to keep rates there for a while. The European Central bank hiked rates as well. Japan has had the lowest rates for a very long time, but today allowed interest rates to go higher.
High mortgage rates have busted the housing market by deterring buyers.
The Commerce Department reported considerable declines in home construction and building permits.
Rent inflation might be over soon
. A new Federal Reserve Bank of Cleveland index measuring rental costs showed a steep decline in recent months. Shelter costs are the most significant component of the main inflation gauge, so inflation could keep cooling.
💸Timely Money Moves💸
Here are
two easy financial wins
before year-end:
Earn free money by taking advantage of investment platform promotions.
Get up to $30,000 in free stocks you can sell immediately for depositing $1 at Webull.
Get up to $500 cash by transferring your investments to M1 Finance.
Learn: Why do companies do this?
Earn over 4% in a savings account at a local bank.
SaveBetter aggregates the highest-paying banks into one interface
of these platforms and other free services.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
3M
-
Uber
-
Nio
-
Netflix's
-
General Mills
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Mortgage rates
can be
fixed
or
floating
. A fixed-rate means you've locked in that percentage of the loan you need to pay back in interest each month, and it won't increase. A floating rate is usually tied to the movement of a benchmark interest rate. So as broader interest rates rise, your rate increases, and you pay more each month.
Whether fixed or floating, mortgage interest rates are priced off a baseline low-risk lending rate like US Treasury bonds, then marked up based on how risky you are as a borrower. So banks say, "OK, we can lend to the US Government (considered to have no default risk) for ten years at 3% interest. You're more likely to default than the US Government, so you will need to pay us higher interest to make it worth the risk, maybe 6%." As baseline rates rise, your rates will rise.
Agree with these rankings?
Vote in any company scoop to get your voice heard!
Support the movement and recruit a friend! Share this link below:
You have recruited people so far
Make sure your inbox doesn't hide your Scoops
To prevent our emails from getting moved to your promotions or spam:
Gmail
: Move the Scoop to your "Primary" inbox:
On Mobile: Within this email, select the dots (...) in the top right of your screen. Select "Move to" & "Primary". If it's not there, then your mailbox isn't segmented.
On Desktop: Within your inbox, drag & drop this email into the "Primary" tab at the top left.
Apple
: Select the Scoops email at the top. Choose "Add to VIP"
You can find instructions here for all other email clients:
Reply