Latest news with #2026
Yahoo
23 minutes ago
- Business
- Yahoo
Mortgage and refinance interest rates today, June 28, 2025: Rates nosedive since last weekend
Today's mortgage rates have plummeted since last Saturday. According to Zillow, the average 30-year fixed mortgage rate has decreased by 24 basis points to 6.53%, and the 15-year fixed rate is down 34 basis points to 5.71%. Economists don't expect rates to drop too drastically this year. In fact, many predict 30-year mortgage rates will stay over 6% through 2026. So, any decrease in rates is good news for buyers. This could be a good weekend to start applying for preapproval with a few mortgage lenders and shopping for houses. Read more: What determines mortgage rates? It's complicated. Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.53% 20-year fixed: 6.08% 15-year fixed: 5.71% 5/1 ARM: 7.00% 7/1 ARM: 7.08% 30-year VA: 6.12% 15-year VA: 5.45% 5/1 VA: 6.16% Remember, these are the national averages and rounded to the nearest hundredth. Learn more: 8 strategies for getting the lowest mortgage rates These are today's mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.61% 20-year fixed: 6.21% 15-year fixed: 5.86% 5/1 ARM: 7.19% 7/1 ARM: 7.22% 30-year VA: 6.17% 15-year VA: 5.89% 5/1 VA: 5.90% Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case. Use the mortgage calculator below to see how today's interest rates would affect your monthly mortgage payments. For a deeper dive, you can use Yahoo's free mortgage calculator to see how homeowners insurance and property taxes factor into in your monthly payment estimate. You even have the option to enter costs for private mortgage insurance (PMI) and homeowners' association dues if those apply to you. These details result in a more accurate monthly payment estimate than if you simply calculated your mortgage principal and interest. There are two main advantages to a 30-year fixed mortgage: Your payments are lower, and your monthly payments are predictable. A 30-year fixed-rate mortgage has relatively low monthly payments because you're spreading your repayment out over a longer period of time than with, say, a 15-year mortgage. Your payments are predictable because, unlike with an adjustable-rate mortgage (ARM), your rate isn't going to change from year to year. Most years, the only things that might affect your monthly payment are any changes to your homeowners insurance or property taxes. The main disadvantage to 30-year fixed mortgage rates is mortgage interest — both in the short and long term. A 30-year fixed term comes with a higher rate than a shorter fixed term, and it's higher than the intro rate to a 30-year ARM. The higher your rate, the higher your monthly payment. You'll also pay much more in interest over the life of your loan due to both the higher rate and the longer term. The pros and cons of 15-year fixed mortgage rates are basically swapped from the 30-year rates. Yes, your monthly payments will still be predictable, but another advantage is that shorter terms come with lower interest rates. Not to mention, you'll pay off your mortgage 15 years sooner. So you'll save potentially hundreds of thousands of dollars in interest over the course of your loan. However, because you're paying off the same amount in half the time, your monthly payments will be higher than if you choose a 30-year term. Dig deeper: 15-year vs. 30-year mortgages Adjustable-rate mortgages lock in your rate for a predetermined amount of time, then change it periodically. For example, with a 5/1 ARM, your rate stays the same for the first five years and then goes up or down once per year for the remaining 25 years. The main advantage is that the introductory rate is usually lower than what you'll get with a 30-year fixed rate, so your monthly payments will be lower. (Current average rates don't necessarily reflect this, though — in some cases, fixed rates are actually lower. Talk to your lender before deciding between a fixed or adjustable rate.) With an ARM, you have no idea what mortgage rates will be like once the intro-rate period ends, so you risk your rate increasing later. This could ultimately end up costing more, and your monthly payments are unpredictable from year to year. But if you plan to move before the intro-rate period is over, you could reap the benefits of a low rate without risking a rate increase down the road. Learn more: Adjustable-rate vs. fixed-rate mortgage First of all, now is a relatively good time to buy a house compared to a couple of years ago. Home prices aren't spiking like they were during the height of the COVID-19 pandemic. So, if you want or need to buy a house soon, you should feel pretty good about the current housing market. However, mortgage rates are unpredictable right now due to the political and economic climate. Experts don't think rates will plummet in 2025, so you might not want to base your decision on whether to buy strictly on interest rates. Recent news that home price gains are slowing, with predictions that house values may actually ease lower this year, can be part of your home buying decision. The best time to buy is typically whenever it makes sense for your stage of life. Trying to time the real estate market can be as futile as timing the stock market — buy when it's the right time for you. Read more: Which is more important, your home price or mortgage rate? According to Zillow, the national average 30-year mortgage rate is 6.53% right now. But keep in mind that averages can vary depending on where you live. For example, if you're buying in a city with a high cost of living, rates could be higher. Overall, mortgage rates are expected to tick down slightly in 2025. There may be days (like today) when rates go down more significantly, but they won't necessarily stay lower when this happens. Mortgage rates have dropped since last weekend, though they're still well above 6%. In many ways, securing a low mortgage refinance rate is similar to when you bought your home. Try to improve your credit score and lower your debt-to-income ratio (DTI). Refinancing into a shorter term will also land you a lower rate, though your monthly mortgage payments will be higher.
Yahoo
4 hours ago
- Business
- Yahoo
Apogee Enterprises Inc (APOG) Q1 2026 Earnings Call Highlights: Strategic Growth Amid Tariff ...
Net Sales: Increased 4.6% to $346.6 million, driven by $22 million from the acquisition of UW Solutions. Adjusted EBITDA Margin: Decreased to 9.9%, impacted by higher aluminum costs and tariff expenses. Adjusted Diluted EPS: Declined to $0.56, affected by lower adjusted EBITDA and higher interest and tax expenses. Metals Net Sales: Declined 3.4%, due to a less favorable mix, partially offset by higher volume. Services Net Sales: Increased 7.6%, marking the fifth consecutive quarter of growth, driven by higher volume. Performance Surfaces Net Sales: Increased due to the inorganic contribution from UW Solutions. Net Cash Used in Operating Activities: $19.8 million, compared to $5.5 million provided a year ago. Fiscal '26 Outlook: Raised net sales to $1.40 billion to $1.44 billion and adjusted diluted EPS to $3.80 to $4.20. Tariff Impact on EPS: Estimated unfavorable impact of $0.35 to $0.45, primarily affecting the first half of the fiscal year. Capital Expenditures: Expected between $35 million to $40 million for fiscal '26. Warning! GuruFocus has detected 7 Warning Signs with CNVS. Release Date: June 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Apogee Enterprises Inc (NASDAQ:APOG) exceeded expectations for Q1 2026, demonstrating positive momentum through operational actions and a renewed focus on growth. Revenues were stronger than expected, led by significant net sales growth in the Glass and Services segments. The company successfully executed tariff mitigation plans, expecting to substantially mitigate the impact of tariffs in the second half of the fiscal year. Apogee Enterprises Inc (NASDAQ:APOG) raised its fiscal year outlook for both revenue and earnings, driven by improvements in Metals, Glass, and Performance Surfaces segments. The company is actively building a pipeline of strategic M&A opportunities to diversify its business mix and accelerate growth. Adjusted EBITDA margin decreased to 9.9%, primarily due to a less favorable mix and higher aluminum costs in Metals, as well as higher tariff expenses in Services. Adjusted diluted EPS declined to $0.56, impacted by lower adjusted EBITDA, higher interest expense, and a higher adjusted effective tax rate. Metals segment faced a decline in net sales by 3.4% due to a less favorable mix, despite higher volume. The Services segment experienced a decrease in adjusted EBITDA margin to 5.7%, primarily driven by higher tariff expenses. Net cash used in operating activities was $19.8 million, compared to $5.5 million of net cash provided by operating activities a year ago, driven by lower net earnings and increased cash used for working capital. Q: Can you elaborate on the Glass business and the revenue pipeline that seems to be picking up? A: Ty Silberhorn, CEO, explained that the team has improved their opportunity pipeline, focusing on smaller jobs to fill market gaps. This approach, along with productivity improvements, has allowed them to maintain margins. They expect growth in Q3 and Q4 as award rates improve. Q: Regarding segment margin targets, can you speak to your ability to operate within the long-term ranges for different business groups? A: Ty Silberhorn noted that Metals and Services face tariff headwinds, making it challenging to reach the bottom of their target ranges. Glass is expected to stay within its range, albeit at the lower end, while Performance Surfaces is performing well within its range. Q: What is driving the sequential improvement in the Metals segment, and has this continued into June? A: Ty Silberhorn stated that operational improvements and better lead times have driven sequential improvements. Although not fully back to historical service levels, customer confidence is returning, leading to increased sales. Q: Can you provide an update on Project Fortify Phase 2 and any savings realized in the May quarter? A: Matthew Osberg, CFO, mentioned that minimal savings were realized in Q1, with most expected in Q2 following the closure of the Canadian facility. Q: How much of the reduced tariff impact is due to operational shifts versus commodity price changes? A: Matthew Osberg explained that the reduction is due to both operational efficiencies and better management of input costs, allowing them to mitigate some of the anticipated tariff impacts. Q: How is the Services segment managing the impact of tariffs, and are clients accepting cost adjustments mid-project? A: Ty Silberhorn noted that it's difficult to pass on costs for ongoing projects. The team is focusing on productivity improvements and cost savings to manage the impact. Q: Have you adjusted your M&A target multiples in the current environment? A: Ty Silberhorn stated that while M&A activity has slowed due to macroeconomic factors, they continue to focus on strategic targets. Valuations remain reasonable, and strategics may have an advantage over private equity due to interest rate conditions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
8 hours ago
- Business
- Yahoo
Microsoft's AI Chip Hits the Brakes
Microsoft's (NASDAQ:MSFT) next-gen AI chip, Braga (aka Maia 200), faces at least a six-month delaypushing mass production into 2026 and risking a performance gap versus Nvidia's (NASDAQ:NVDA) Blackwell silicon. The Information reports design overhauls, staffing crunches, and turnover have set back Braga until 2026, rather than the planned 2025 rollout. Originally unveiled as part of Microsoft's Maia family (Maia 100 launched in late 2023), Braga was supposed to power Azure and OpenAI by the time it reaches scale, Nvidia's late-2024 Blackwell chips will already be in data centers worldwide. Warning! GuruFocus has detected 6 Warning Sign with MSFT. Major cloud playersAmazon (NASDAQ:AMZN) (Trainium 3), Google (NASDAQ:GOOG) (TPU Ironwood), and Microsoftare racing to reduce reliance on Nvidia . A late or subpar Microsoft chip could leave Azure customers dependent on NVDA longer, weakening MSFT's negotiating leverage and fanning concerns about AI cost curves. Microsoft still plans two more successorsBraga-R (2026) and Clea/Maia 300 (2027)but Braga's slip raises questions about hitting those targets. Watch for official updates on Braga's specs and revised timelines, as well as how rivals Amazon and Alphabet (NASDAQ:GOOG) fare with their in-house silicon. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
8 hours ago
- Business
- Yahoo
Microsoft's AI Chip Hits the Brakes
Microsoft's (NASDAQ:MSFT) next-gen AI chip, Braga (aka Maia 200), faces at least a six-month delaypushing mass production into 2026 and risking a performance gap versus Nvidia's (NASDAQ:NVDA) Blackwell silicon. The Information reports design overhauls, staffing crunches, and turnover have set back Braga until 2026, rather than the planned 2025 rollout. Originally unveiled as part of Microsoft's Maia family (Maia 100 launched in late 2023), Braga was supposed to power Azure and OpenAI by the time it reaches scale, Nvidia's late-2024 Blackwell chips will already be in data centers worldwide. Warning! GuruFocus has detected 6 Warning Sign with MSFT. Major cloud playersAmazon (NASDAQ:AMZN) (Trainium 3), Google (NASDAQ:GOOG) (TPU Ironwood), and Microsoftare racing to reduce reliance on Nvidia . A late or subpar Microsoft chip could leave Azure customers dependent on NVDA longer, weakening MSFT's negotiating leverage and fanning concerns about AI cost curves. Microsoft still plans two more successorsBraga-R (2026) and Clea/Maia 300 (2027)but Braga's slip raises questions about hitting those targets. Watch for official updates on Braga's specs and revised timelines, as well as how rivals Amazon and Alphabet (NASDAQ:GOOG) fare with their in-house silicon. This article first appeared on GuruFocus.
Motor 1
9 hours ago
- Automotive
- Motor 1
The BMW M5 Wagon Is Already Getting More Expensive
BMW prices are supposed to increase next month, and that'll include the M5 sedan and wagon. A new report says the automaker will increase the price by $2,400, with the sedan now starting at $121,900 before the destination fee and gas guzzler tax. The wagon will cost $123,900. The $2,400 increase would equate to a 2.0 percent increase over 2025, according to Cars Direct . Add in the destination charge and gas guzzler fee, $1,175 and $2,600, respectively, and the 2026 M5 sedan will cost $125,675. The 2026 M5 Touring will have a starting price of $127,675. Photo by: BMW Shockingly, the M5 isn't getting BMW's most significant price increase. X5 M and X6 M Competition prices are reportedly increasing by $2,500 . Other models, like the Z4 , are seeing their prices jump by $1,000, but we hope it doesn't stifle demand, especially for the M5 Touring. Why M5 Touring Sales Matter The 2025 M5 Touring is the first time BMW has offered the performance wagon in the United States, and the automaker is weighing bringing the M3 Touring to America based on M5 sales. So far, demand has been exceeding expectations. Photo by: BMW Earlier this year, BMW revealed that it had to increase M5 production to meet demand , with the production output split 50-50 between the two body styles—something BMW did not expect. It had planned for the sedan to account for two-thirds of all M5 production, but buyers are flocking to the touring, even in the US. Late last month, BMW M boss Frank van Meel revealed in an interview that there was "a higher demand in the US for the Touring than for the sedan." Hopefully, it's enough to convince BMW to bring the M3 Touring here, which the company first suggested last year could happen . Here's More From BMW: BMW: 'The Combustion Engine Is Our Foundation' BMW Thinks the 'Timing Is Right' For Hydrogen. Is It Really? Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Source: Cars Direct via Car Buzz Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
