Cape Cod homeowner sues, says bank should not have given him mortgage for $5.5 million mansion at risk of collapse
Bonomi, a retired New York attorney, is alleging that the bank shouldn't have lent him the money because - and this is directly from his own suit: "No rational person . . . would have considered purchasing the Property, and certainly not at the full asking price." It's been said that the definition of chutzpah is killing your parents and then pleading for mercy because you're an orphan. Does applying for a mortgage and then blaming the bank for giving it to you also qualify?
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The Fed was expected to hike interest rates in September. Don't bet on that now, economists say.
On Thursday, interest rate futures were decidedly tilted toward the Federal Reserve hiking its benchmark rate in September, according to CME FedWatch, which tracks traders to forecast the central bank's policy decisions. But after Friday morning's dismal July jobs report, which showed that employers unexpectedly shed 23,000 jobs last month, that probability has now flipped, with the Fed expected to hold steady next month.
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Dream Finders Homes To Acquire Beazer Homes For $2.2 Billion, Creating Sixth-Largest U.S. Homebuilder
Dream Finders Homes has entered into a definitive agreement to acquire Beazer Homes USA in an all-cash transaction with an enterprise value of approximately $2.2 billion. Beazer shareholders will receive $33.50 in cash for each share, representing an implied price-to-book multiple of approximately 0.8 times.The combination is expected to create the sixth-largest homebuilder in the United States.
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US mortgage rates climb again in latest week, many at year high
U.S. ?mortgage interest rates climbed to their highest in about a year last week on an ?array of home loan products after a resumption of U.S.-Iran fighting drove up both oil prices and the inflation-sensitive Treasury yields that underpin residential borrowing costs. The contract rate on a 30-year, fixed-rate mortgage - the most common U.S. home loan - climbed 7 basis ?points to 6.76% in the week ended July 24, just shy of a one-year high, the Mortgage ?Bankers Association said on Wednesday.
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