Tag: Non-ferrous Metal Ore Mining
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‘Just 1% of the nation’s homes have changed hands this year,’ Redfin says
[ad_1] Amid mortgage rates near 7%, few homeowners in the U.S. are selling their homes. Out of every 1,000 homes in the U.S., only 14 changed hands over the first six months of this year, or 1.4%, according to data released Tuesday from real-estate brokerage Redfin RDFN, -3.83%. Before the pandemic in 2019, roughly 19…
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Only a tenth of mortgages have an interest rate above 6% — that’s a big problem for the U.S. housing market
[ad_1] Mortgage rates are inches away from 7% — but less than a tenth of U.S. homeowners have a home loan at that rate. In fact, only 9% of all existing mortgages in the U.S. were taken out with a rate of above 6%, according to data from the Federal Housing Finance Agency, and analyzed…
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Chinese germanium makers jump after China restricts exports of chip minerals
[ad_1] Shares of Chinese germanium producers hit the daily upward limit early Tuesday on news that Beijing imposed export controls on gallium and germanium, two minerals critical to the production of semiconductors. China-listed Yunnan Lincang Xinyuan Germanium Industrial 002428, +10.00% and state-run Yunnan Chihong Zinc & Germanium 600497, +7.07% rose 10% in early trading, outperforming…
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Who do you blame for high house prices? Nearly half of young Americans point their finger at the government.
[ad_1] As the cost of owning a home has skyrocketed over the last few years, some Americans are venting their frustrations by blaming the government for high housing prices. Nearly 90% of Americans said it’s too expensive to purchase a home right now, according to a survey of 1,386 people in the U.S., aged 46…
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Mortgage rates tick up amid U.S. debt ceiling concerns
[ad_1] The numbers: A strong U.S. economy and concerns about a potential U.S. default on its debt pushed mortgage rates higher this week. The 30-year fixed-rate mortgage averaged 6.57% as of May 25, according to data released by Freddie Mac on Thursday. It’s up 18 basis points from the previous week — one basis point…
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Home buyers will now be able to put down 1% on their home, Rocket Mortgage says
[ad_1] Home buyers will be able to put as little as 1% down as payment for a home under a new program launched by Rocket Mortgage RKT, +1.59%. A new product by one of the biggest non-bank mortgage lenders in the U.S., called ONE+, will allow low and moderate-income aspiring homeowners to buy homes in…
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14 million mortgages were refinanced during the pandemic due to low rates.
[ad_1] The great pandemic mortgage refinance boom is most definitely over, but the aftershock is still rippling through the housing market. Homeowners are holding up home sales, as their ultra-low prize is too precious to give up. During the early days of coronavirus pandemic in 2020 and 2021, mortgage rates fell sharply, and millions of…
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China’s Ganfeng Lithium shares jump on expansion plans
[ad_1] Chinese lithium producer Ganfeng Lithium shares jumped in both Hong Kong and China, as investors welcomed the company’s latest move to expand its mining and battery production businesses. The company’s Hong Kong-listed shares 1772, +5.94% have gained as much as 8.0% and were last up by 5.5%. In Shenzhen, Ganfeng Lithium shares 002460, +7.43%…
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Australia’s Newcrest Mining agrees to $17.5 billion takeover by Newmont
[ad_1] SYDNEY — Newcrest Mining NCM, -2.22% said it has agreed to a $17.5 billion takeover by Newmont NEM, +0.13%, extending a wave of deals in the sector as global miners seek to boost their exposure to metals like copper and gold. Newcrest said on Monday that it recommends shareholders vote in favor of Newmont’s…
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Tesla breaks ground on Texas lithium refinery
[ad_1] Tesla Inc. Chief Executive Elon Musk joined Texas Gov. Greg Abbott on Monday to break ground on the EV maker’s new lithium refinery. The facility, which would be the largest of its kind in North America, is expected to produce enough battery-grade lithium to build 1 million electric vehicles by 2025. Speaking at the…