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[ad_1] Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading flat, fluctuating between gains and losses on the first day of new financial year 2023. BSE Sensex was hovering around 58,600, while NSE Nifty 50 index managed to hold above 17450. NTPC was the top BSE Sensex gainer, up over 4 per cent, followed by Power Grid Corporation of India, Mahindra & Mahindra (M&M), Bharti Airtel, Tata Steel, and Kotak Mahindra Bank among others. On the flip side, Infosys, HCL Technologies, Titan Company, Nestle India, ICICI Bank, Tech Mahindra, TCS, Housing Development Finance Corporation (HDFC) were among top index draggers. Nifty Bank index was up 0.2 per cent, holding above 36400 levels. [ad_2] Source link

[ad_1] Are we headed to a housing bubble? The Dallas Fed on Thursday published an article titled: Real-Time Market Monitoring Finds Signs Of a Brewing U.S. Housing Bubble. The online reaction was immediate — housing must be about to crash. I disagree with this conclusion. That’s not to say that the data points the Fed used are incorrect — in fact, we are in a savagely unhealthy housing market, but it’s not a bubble. Let me explain. First, because there is no speculative debt demand going on today, there can’t be a housing bubble. We aren’t anywhere close to the housing bubble dynamics we had from 2002 to 2008; that environment is simply impossible to replicate. My rule of thumb has always been, if you’re going to use the phrase housing bubble, you need to point to when the bubble started, because a bubble means that prices would fall back to some earlier point in time. For the housing bubble 2.0 crew, this would mean home prices would have to get back to 2012 in a short amount of time. Home prices have grown 108.3% since the 2012 lows and that is the magnitude of decline we would need to see to justify using the term “housing bubble.” The notion that educated homeowners with positive cash flow — who aren’t showing any stress in making their low payments thanks to historically low mortgage rates — would sell at 50%, 60% to 70% off current values and go back to renting, doesn’t seem realistic. Especially in a year when inventory has crashed to all-time lows and demand for those houses is still so high. The people at the Dallas Fed aren’t cheap professional troll artists with terrible housing YouTube crash videos, so what’s going on? I’m going to take their talking points and explain in detail why this isn’t the housing bubble of 2002-2005. “Our evidence points to abnormal U.S. housing market behavior for the first time since the boom of the early 2000s. Reasons for concern are clear in certain economic indicators—the price-to-rent ratio, in particular, and the price-to-income ratio—which show signs that 2021 house prices appear increasingly out of step with fundamentals.” I agree with this statement and they’re actually calmer about it than I am. I went from calling this an unhealthy housing market to a savagely unhealthy housing market because of price growth. I set a cumulative price growth model of 23% for five years. This got smashed in two years, and inventory levels broke to all-time lows this year. So, for me, I need pricing to be flat to negative this year, next year, and in 2024 just to keep that 23% price model in check. They’re just highlighting what I have been saying for some time: home price growth is too hot. In reality, the Dallas Fed and I may have different talking points, but we are saying the same thing: home price growth is too hot. But, importantly, home prices getting too hot doesn’t create a bubble. A housing bubble does have robust demand, but it’s speculative demand. Once the drivers of that speculation fall out, demand just collapses. Today, people aren’t buying homes because they are speculating that home prices will increase double digits each year, they’re simply buying a home to live in for a long time. “Based on present evidence, there is no expectation that fallout from a housing correction would be comparable to the 2007–09 Global Financial Crisis in terms of magnitude or macroeconomic gravity. Among other things, household balance sheets appear in better shape, and excessive borrowing doesn’t appear to be fueling the housing market boom.” Given the above statement about homeowners’ balance sheets and the fact that we don’t have excessive borrowing, the headline about a housing bubble brewing is an overreach until we see those factors come into play.  Over the years, I have tried to express that we won’t have a repeat of 2002-2005 when it comes to a speculative mortgage debt expansion on unsound credit. Instead, homeowners have the best financial profile in America’s history. This is why I like to show the MBA mortgage purchase application chart. Yes, it had a 1% growth week to week, but as you can see, even with this week’s data, we aren’t seeing a credit boom in America. The speculative debt boom we saw from 2002-to 2005 can’t be repeated with the current lending standards in place. This is a good thing, it protects us well in downturns.  Remember that the forbearance crash bros got it so wrong because they never took into account the balance sheets of American households, which are fantastic. Fixed low debt cost with rising wages creates better cash flow Post-2010, the lending standards have been great — we made American mortgage debt great again! In the past, the speculative credit boom led to people filing for bankruptcies and foreclosures in 2005, 2006, 2007 and 2008. Then after all that, we had the great recession.Things are much different this time around. When you have a great credit profile, you don’t see a surge in credit stress right before the recession. Another important long-run anchor—tied directly to housing affordability—is the ratio of house prices to disposable income. Chart 3 shows dates of episodes of exuberance for this measure of housing affordability. These data—unlike our previous metrics—do not yet display evidence of explosiveness in the third quarter of 2021. But the rapid increase in the statistic close to the threshold during 2021 indicates that U.S. real house prices may soon become untethered from personal disposable income per capita. I believe the Dallas Fed is really stating the obvious here that home prices have gotten too hot lately and we need to be mindful of this. Of course, I’ve been saying we need higher rates to cool down the marketplace. I don’t see anything wrong here with what they’re saying or the models they’re using. Heck, I am talking about using credit controls if higher rates don’t calm down-home

[ad_1] If you’re into experiences—from seeing a play or movie to travelling the world—then you should consider making the switch to this credit card. It combines elements of both Scotiabank’s Scene+ loyalty program with some of the outstanding travel and entertainment perks Amex is known for. Factor in an outstanding earn rate on points, no foreign transaction fees and a competitive travel insurance package, and the Scotiabank Gold American Express card is a front-runner for anyone with a full social calendar. But is this card worth the $120 annual fee? We dig into the details so you can decide for yourself. Find your next credit card.What kind of credit card are you looking for? Get matched with the best cards for you in under 2 minutes at ratehub.ca. Let’s get started. I want to earn rewardsI want to pay low interest You will be leaving MoneySense. Just close the tab to return. Scotiabank Gold American Express quick facts Annual fee: $120 Interest rates: purchases 19.99%, cash advances 22.99%, balance transfers 22.99% Earn rate: 5 Scene+ points on every $1 you spend on eligible grocery stores, restaurants, fast food, drinking establishments and entertainment; 3 Scene+ points on eligible gas, rideshares and public transit, as well as streaming services; 1 Scene+ point on everything else. Welcome offer: You can earn a total of 45,000 bonus Scene+ points ($450 value). First, you’ll earn 25,000 by spending $1,000 on everyday purchases in your first 3 months then earn another 20,000 points when you spend at least $7,500 in everyday purchases in your first year. Must apply by July 4, 2022. Income requirement: $12,000 Purchase interest rate: 19.99% Best features: No foreign transaction fee on purchases in another currency, including online shopping; great return on food purchases; flexible rewards system, travel insurance, access to Amex Offers, Amex Front Of The Line and American Express Invites. You’ll also get a discount on Priority Pass lounge access and complimentary concierge services. Who it’s good for: Millennials, travellers, foodies and cross-border shoppers Scotiabank Gold American Express 5 things you need to know about the Scotiabank Gold American Express How to redeem Scotia Rewards Points Are there any drawbacks to the Scotiabank Gold American Express? What are the best ways to benefit from this card? Scotiabank Gold American Express benefits 1. You earn tons of Scene+ points The earn rate is 5 Scene+ points per $1 spent at eligible restaurants, grocery stores and drinking establishments—including some popular food delivery and subscription services (like Skip The Dishes and Hello Fresh). You’ll earn 5 Scene+ points per $1 spent at Cineplex theatres. You’ll earn 3 Scene+ points per $1 on gas and transportation including ride sharing, public transit and taxis, and on streaming services like Netflix. Everything else accumulates at 1 point per $1 spent.   2. Scene+ points are more versatile than you might think You can redeem your Scene+ points for movie tickets, but also on so much more. You can use them to book travel through Scene+ Travel, powered by Expedia and at restaurants, and other entertainment partners. If you want more than experiences, you can also trade them in for gift cards at major retailers and even for a credit on your credit card or banking account.   3. There’s a valuable sign-up bonus You can earn a total of 45,000 bonus Scene+ points ($450 value). First, you’ll earn 25,000 by spending $1,000 on everyday purchases in your first 3 months then earn another 20,000 points when you spend at least $7,500 in everyday purchases in your first year. Must apply by July 4, 2022.   4. The card comes with great travel insurance coverage The included travel insurance package is great, and counts as one of the main perks of the card. When cardholders use the Scotiabank Gold American Express for their travel expenses, they receive up to $1 million in travel medical coverage for 25 days and $1 million in travel accident insurance (if you’re over 65, this only applies for up to 3 days). You also get up to $1,500 per person in trip cancellation or interruption coverage (to a $10,000 maximum) when you charge at least 75% of your travel expenses to your card; flight and baggage delay protection; and car rental loss and damage coverage. You also get extended warranty on selection purchases and hotel/motel burglary insurance, too.   5. You won’t be charged foreign transaction fees Usually, when you make a purchase in a foreign currency, in person or online, you’re charged a fee of 2.5% to 3% above and beyond the currency exchange. This is the foreign transaction fee, and it can add up fast. Credit cards with no foreign transaction fees are few and far between for Canadian consumers, and Scotia is the only major bank offering this perk. When consumers shop with the Scotiabank Gold Amex, that fee is waived. This is an exceptional value for online shoppers or those who travel frequently, especially in the United States where American Express is widely accepted. In addition to waiving the fee, the Scotiabank Gold Amex will earn you 1 point per $1 on all purchases made in a foreign currency.   6. Being an Amex cardholder comes with perks As American Express members, cardholders are entitled to the company’s Amex Offers and Amex Front of the Line programs. After free registration, Amex Offers gives members access to coupons, discounts or Points-earning opportunities with spends at participating retailers. Just like the name suggests, Front of the Line offers Amex members priority access to pre-sale tickets and reserved blocks of seats at concerts, musicals and other live events. 7. You probably won’t pay for a movie any time soon If you love catching the latest movies, you should really consider this card. You’ll be earning 5 Scene+ points for every dollar you spend on everyday purchases like gas and groceries (not to mention restaurants and at the theatre itself). Since a general admission or 3D movie ticket clocks in at 1,250

[ad_1] Wow! If you’re planning on doing some gardening this spring, check out this hot deal! You can get FREE Back To The Roots Potting Mix at Lowe’s when you submit the Fetch rewards! Here’s how: Buy Back To The Roots Potting Mix – $9.48Submit for $9.48/1 Back to the Roots Potting Mix Fetch Rewards Cashback (Use code FETCH2K as a new sign-up for a bonus 2,000 points)Free after cash back There is a limit of 3 redemptions on this deal, so you can get up to 3 FREE bags with this deal — just in time for spring planting/gardening! Valid through April 5, 2022. Psst! I LOVE Fetch Rewards! You can read my full review here. Thanks, Free Stuff Finder! [ad_2] Source link

[ad_1] Russia paid coupons on seven OFZ bond issues -finance ministry [ad_2] Source link

[ad_1] The government on Thursday decided to retain the interest rates for various small savings schemes for the June quarter, having already held the rates for two years now. Analysts said the idea is to prevent any potential drop in mop-up under the schemes, which can be tapped for funding a part of its wide fiscal gap, in times of a rising interest rate environment globally. Later in the day, the government also cut the size of its gross market borrowing for FY23 by close to Rs 64,000 crore from the budgetted level of Rs 14.95 trillion, citing a switch operation conducted on January 28. A robust collection under the National Small Savings Fund (NSSF) reduces the government’s reliance on market borrowing to finance the fiscal deficit. The government has budgetted its offtake from the NSSF to drop to Rs 4.25 trillion in FY23 from a record Rs 5.92 trillion in FY22. Analysts, however, now expect its offtake from the NSSF to rise in FY23 from the budgetted level. Interest rates are typically pegged to the yields on comparable government securities, which have hardened in recent months. Still, thanks to the high premium earlier, the interest rate on small securities in certain categories are still very lucrative, said a government official. The interest rates on Public Provident Fund (PPF), Kisan Vikas Patra Scheme and the Sukanya Samriddhi Account Scheme have been retained at 7.1%, 6.9% and 7.6%, respectively, for the April-June period, according to a notification by the finance ministry. Similarly, the interest rate on one-year, two-year, and three-year time deposits have also been maintained at 5.5%. Interests on the five-year term deposit, recurring deposit, senior citizens savings scheme have been kept at 6.7%, 5.8% and 7.4%, respectively. The government had last cut the small savings rates (in the range of 70-140 basis points) in the first quarter of FY21. These rates are notified every quarter. FE had reported the conflicting opinions of sections of government officials, policy-makers and analysts on the possibility of a rate cut. Some had viewed that keeping the interest rates on small savings elevated artificially for a long time distorts the broader interest rate culture. However, others had opined that, given the rising interest rate scenario and income losses following the pandemic, the rates should be kept unchanged. Plus, the National Small Savings Fund can be tapped up more vigourously in such cases to fund the fiscal deficit. Last year, the Centre was forced to reverse swiftly a proposed cut in interest rates on small savings schemes, ostensibly to not upset middle-class voters amid Assembly polls in states like West Bengal and Assam. Icra chief economist Aditi Nayar said: “We expect a shallow rate hike cycle to commence in mid-2022, with 50 basis points of repo hikes over August-October 2022, which may subsequently be mirrored in small savings rates being hiked.” [ad_2] Source link

[ad_1] Oregon State Rep. Mark Meek Mark Meek doesn’t know what comes next. “Right now, we are working in a really strong seller’s market and say a seller gets four offers that are identical, but they all include love letters, then the seller ends up picking on personal preference,” said Meek, the Oregon state representative and practicing real estate broker, adding that, “We have implicit biases weighing in on the decision-making process.” Meek did something big about this last year, shuttling through the Oregon legislature a law that bans “all non-customary documents” from prospective buyer to seller in a real estate deal. But after a federal judge ruled the phrasing of non-customary documents was too broad, Meek and his allies – who feel these letters quickly run afoul of the 1968 Fair Housing Act – are sidelined for a couple of reasons. The most pressing issue is that Meek’s effort is now in legal limbo after U.S. District Judge Marco Hernandez enjoined the legislation in a March 3 ruling. Hernandez’s order seemed open to the idea that correspondence potential homebuyers deliver to sellers could divulge information about the buyer’s race, religion or other social markers that could lead to a civil rights violation. But the judge found banning “all non-customary documents” excessively sweeps out “innocuous information prospective buyers provide in love letters.” Defendants in the case, the Oregon Real Estate Agency and state Justice Department, were asked to respond to Hernandez’s opinion. The defendants’ moved to delay their answer until April 18 in order to “allow the parties to determine whether the case can be resolved without further litigation.” What would be a satisfactory resolution to both sides? The Oregon Real Estate Agency declined to say, instead noting that it is no longer enforcing the love letter ban. The Pacific Legal Foundation, the libertarian-leaning group that brought the lawsuit, said that a “stipulated judgement or some other order from the country affirming that the love letter ban is unconstitutional” would be required to settle. The other matter is whether lawmakers in Oregon, or anywhere else, have the appetite to pass similar legislation likely to face an immediate lawsuit. As Inman News first reported, the Washington state legislature mulled a narrower version of the Oregon law. But it was not voted on before the winter legislative session ended March 10, as lawmakers continued to discuss the right language. The Oregon state legislature meets again in May. But Meek has no immediate plans to introduce revised legislation. “We could get back into session next year to address this,” he said, “Maybe we would narrow it down and be specific in how we can limit these practices without limiting the full practice of the love letter.” “I was disappointed to hear that it has been by blocked by a judge,” said Janeen Sollman, an Oregon representative, and co-sponsor of the law with Meek. “I have not heard any talk about revising the bill in a future session at this time.” Allan Lazo, the executive director of the Fair Housing Council of Oregon which pushed the law, sounded a note of slight resignation. “I wasn’t really surprised by it,” Lazo said of the injunction. “I am disappointed in a way because I certainly feel like there is a need for the law or at least a need for us to make sure that this practice doesn’t result in discrimination in the home buying process.” Many agents in Oregon and elsewhere favored the law as an affirmative step against potential Fair Housing Act violations. Others, though, are leery of such laws – particularly those in enforcement limbo – interfering with their work. “My hope is that it just goes away,” said Jim Morain, a Coldwell Banker Bain broker in Bend, Oregon. “At the end of the day, the ethics and things that are covered in real estate really tell you what is OK to disclose and the most important thing to disclose is the financial quality of the buyer.” The post Love letters on the rocks in Oregon appeared first on HousingWire. [ad_2] Source link

[ad_1] Biden Invokes Cold War Statute to Boost Critical Mineral Supply  The New York Times Biden to invoke Defense Production Act for electric vehicle battery materials  CNBC Electric vehicles: Biden weighs using the Defense Production Act to produce EV materials  Yahoo Finance Biden wants to ramp up production of critical minerals. Here’s how it’s supposed to help consumers  CNN Biden considers boosting mining of minerals for electric vehicles  PBS NewsHour View Full Coverage on Google News [ad_2]

[ad_1] If you consider yourself a coffee-lover, foodie, traveller—or all of the above—this cash back card might be the perfect for your lifestyle. It offers a strong earn rate on food and travel spends. It also includes perks that offer peace of mind on your daily commutes or big vacations, like complimentary roadside assistance benefits and travel insurance. What’s more, it offers the flexibility to use your cash back when you actually need it, not on an arbitrary date like with many other cash back loyalty programs. What gives it even more of an edge is the generous welcome offer that allows you to earn 10% cash back on up to $2,000 worth of purchases for the first three months. Should you switch over to this card? Maybe… With so many travel cards on the market, we break down the benefits and the drawbacks of this impressive cash back card, so you can see if it’ll meet your needs. TD Cash Back Visa Infinite* Annual fee $120, rebated for the first year Rewards 3% on gas, groceries and recurring bills; 1% on everything else Welcome offer 10% cash back on all purchases for the first 3 months (up to total spend of $2,000). Then, earn 6% cash back on gas and grocery purchases, and pre-authorized payments for the first 3 months (up to a total spend of $3,500). Must apply online before September 5, 2022. Income requirement $60,000 individually or $100,000 as a household Interest rates purchases 20.99%, cash advances 22.99% Best features Strong rewards on major household expenses, complimentary roadside assistance membership, and flexible, any-time cash back redemption Who it’s best for Families, car owners and people who already bank with TD Get more details about the TD Cash Back Visa Infinite* 8 benefits of the TD Cash Back Visa Infinite 1. This card offers strong earn rates in major spending categories Like most cash back cards, the TD Cash Back Visa Infinite offers different earn rates in different categories. Gas, groceries and recurring bills earn a substantial 3%. That’s impressive, considering these categories are what most people tend to use their credit cards on generally. Also, you get rate of 1%  on all other purchases. For context, most cash back cards tend to offer 0.5% on everything else. What does this translate to in real life? A family using the TD Cash Back Visa Infinite to purchase a monthly average of $750 in groceries, $200 on gas and $125 on recurring bills will get back around $385 annually on those three categories alone. And that’s on top of the 1% back for all other purchases. Simply put, you can easily earn back the annual fee and then some. 2. It has a competitive welcome offer New cardholders are welcomed with a noteworthy offer. Earn 10% cash back on all purchases for the first 3 months (up to total spend of $2,000) when you apply for the card online. After that continue to earn 6% cash back on gas and grocery purchases, and pre-authorized payments for the first three months (up to a total spend of $3,500). Must apply before September 5, 2022. Quebec residents, please click here. Plus, when TD credit card holders refer friends and family for an eligible TD credit card, they can earn a $100 e-gift card when their application is approved. You can earn up to 3 e-gift cards (a $300 value) within the offer period, which ends May 29, 2022. 3. You’ll get free roadside assistance Cardholders are automatically enrolled as Deluxe members in the TD Auto Club, which entitles them to complimentary roadside assistance services. This coverage is 24/7 and designed for roadside emergencies like dead batteries, flat tires or breakdowns. As a Deluxe member, you’ll have access to a tow to the nearest service centre (up to 200 kilometres), emergency transportation and even financial reimbursement for food, and rest expenses up to $200 in case you’re stranded due to a vehicle-related issue. Similar assistance packages typically cost between $69 and $100 on a stand-alone basis. 4. You can use your cash back any time Some cash back credit cards offer reimbursement on a fixed schedule—usually once per year, on a specific month’s statement. While it’s nice to have it that money at all, it’s handy to have your cash back when you decide, like before the holidays or for a vacation. With the TD Cash Back Visa Infinite, you can access your funds when you need them, with no time restrictions (though a minimum of $25 must be redeemed).  5. You’ll get travel insurance benefits Travel insurance is one of the most attractive perks a card can carry, saving cardholders then hassle and money of buying stand-alone coverage. With the TD Cash Back Visa Infinite, you’re protected up to $2 million for medical emergency insurance for trips of up to 10 days (if you or your spouse is aged 65 or older, you are covered for the first four days). And you’re covered for delayed or lost baggage costs. These aren’t the most comprehensive travel insurance benefits around, even when compared to other cash back cards. For a credit card that’s not a travel card, though, it’s not a bad offering. 6. The advantage of bundling accounts Since this card is from TD, a big bank, it may be a good fit for those who want to keep all their accounts with a single institution—and there may well be benefits to doing so. For example, TD members with an All-Inclusive Chequing Account holding a minimum balance of $5,000 at all times can have the both the card’s $120 annual fee along with everyday banking fees rebated each and every year. Note, though, if the balance in your All-Inclusive Chequing Account dips below $5,000, you’ll owe a $30 monthly account fee. 7. Cash back dollars never expire As long as your account is open and in good standing, your cash back dollars will remain useable. 8. You can earn Starbucks Rewards If you’re

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