2 months ago
Toward the end of the lightning round on September 17, a caller asked for Mad Money's host Jim Cramer's thoughts on Iron Mountain Incorporated (NYSE:IRM), and he replied:
It's been an incredible stock. It's a real estate investment trust, basically. And you know, we know that they shred, 3% yield, down 20 points from its high. I think it's a buy.
Iron Mountain Incorporated (NYSE:IRM) operates a highly durable business model centered on physical records management, secure document destruction, and expanding digital infrastructure. In Q2, total revenue reached $2.03 billion, representing an 18.7% increase year-over-year and 16.8% organic growth. The core physical storage business provides reliable cash flow, with storage rental revenue expanding 11.5% year-over-year excluding foreign-exchange effects across a global customer base of 240,000. Adjusted funds from operations grew 17% to $432.7 million, or $1.44 per share.
At the same time, management has channeled capital into scaling higher-growth segments, including digital solutions, ***** et lifecycle management, and data center operations. The data center segment posted 39% revenue growth during the second quarter, securing 110 megawatts in new leases through July and increasing power capacity across major enterprise markets. Operating as a real estate investment trust, the company maintains a quarterly dividend of $0.864 per share, offering shareholders a forward yield of over 3%.
On the other hand, Iron Mountain Incorporated (NYSE:IRM) faces risks inherent to capital-intensive real estate infrastructure expansion. Rapid buildouts of data center power capacity demand substantial capital expenditure, leading to elevated leverage across the balance sheet. Long-term debt, net of the current portion, reached approximately $17.1 billion at the end of the second quarter, increasing sensitivity to interest rate fluctuations and refinancing costs.
#revenue #Growth
It's been an incredible stock. It's a real estate investment trust, basically. And you know, we know that they shred, 3% yield, down 20 points from its high. I think it's a buy.
Iron Mountain Incorporated (NYSE:IRM) operates a highly durable business model centered on physical records management, secure document destruction, and expanding digital infrastructure. In Q2, total revenue reached $2.03 billion, representing an 18.7% increase year-over-year and 16.8% organic growth. The core physical storage business provides reliable cash flow, with storage rental revenue expanding 11.5% year-over-year excluding foreign-exchange effects across a global customer base of 240,000. Adjusted funds from operations grew 17% to $432.7 million, or $1.44 per share.
At the same time, management has channeled capital into scaling higher-growth segments, including digital solutions, ***** et lifecycle management, and data center operations. The data center segment posted 39% revenue growth during the second quarter, securing 110 megawatts in new leases through July and increasing power capacity across major enterprise markets. Operating as a real estate investment trust, the company maintains a quarterly dividend of $0.864 per share, offering shareholders a forward yield of over 3%.
On the other hand, Iron Mountain Incorporated (NYSE:IRM) faces risks inherent to capital-intensive real estate infrastructure expansion. Rapid buildouts of data center power capacity demand substantial capital expenditure, leading to elevated leverage across the balance sheet. Long-term debt, net of the current portion, reached approximately $17.1 billion at the end of the second quarter, increasing sensitivity to interest rate fluctuations and refinancing costs.
#revenue #Growth
2 months ago
On August 20, Royal Caribbean Group (NYSE:RCL) said it had completed a sale of $1.25 billion of notes that carry a 5.55% coupon and come due on January 20, 2034. The money is earmarked first for floating-rate term loans, with anything left over used to repay or refinance other debt, and the offering rode on a shelf registration filed on February 29, 2024. That sounds like routine upkeep. But next to an earnings beat and a flat third-quarter pricing outlook, the deal gives you a handy lens on where the company stands.
Start with the debt itself. Swapping floating-rate borrowings for notes with a stated 5.550% coupon takes some interest-rate guesswork out of the picture, and the notes don't mature until January 20, 2034. That matters because $2.7 billion comes due in 2027 and $3.4 billion in 2028. Against those bills, the company held $6.9 billion of liquidity as of June 30, and it added $250 million to its revolving credit line in July.
The business generating the cash is running well. On July 28, Royal Caribbean reported second-quarter adjusted earnings of $4.21 per share, ahead of its own guidance on stronger last-minute demand, lower costs, and better results from joint ventures. Management then raised full-year adjusted EPS guidance to a range of $17.73 to $17.87, which implies 14% growth. It also kept returning cash to shareholders in the second quarter, through $404 million of dividends and $199 million of buybacks. Booking volumes are running above last year, and 2027 bookings are tracking ahead of past years, even on routes that geopolitical events hit in 2026.
Beat or not, that $4.21 is still below the $4.38 from the same quarter in 2025. Costs excluding fuel per passenger cruise day rose 4.4%, and the cost beat came largely from the timing of expenses. Then there is pricing, where the story gets less rosy. Third-quarter net yields are guided to roughly flat against 2025 while capacity grows 8.5%, so the expected 8% revenue growth comes from more capacity, not from better yields. Management also says prolonged geopolitical activity has dented bookings on select itineraries. It calls the hit modest, but it is now built into guidance.
The refinancing also doesn't shrink the debt pile. New notes pay off old borrowings, so the total owed stays roughly where it was, and the company still expects net interest of $980 million to $990 million this year. Add roughly $4.7 billion of capital spending in 2026, mostly for new ships and destination projects, and it is clear this business needs a steady supply of capital. The April ship orders, Icon VI and Icon VII, extend that appetite, though their financing is already committed.
#billion #quarter #company #year
Start with the debt itself. Swapping floating-rate borrowings for notes with a stated 5.550% coupon takes some interest-rate guesswork out of the picture, and the notes don't mature until January 20, 2034. That matters because $2.7 billion comes due in 2027 and $3.4 billion in 2028. Against those bills, the company held $6.9 billion of liquidity as of June 30, and it added $250 million to its revolving credit line in July.
The business generating the cash is running well. On July 28, Royal Caribbean reported second-quarter adjusted earnings of $4.21 per share, ahead of its own guidance on stronger last-minute demand, lower costs, and better results from joint ventures. Management then raised full-year adjusted EPS guidance to a range of $17.73 to $17.87, which implies 14% growth. It also kept returning cash to shareholders in the second quarter, through $404 million of dividends and $199 million of buybacks. Booking volumes are running above last year, and 2027 bookings are tracking ahead of past years, even on routes that geopolitical events hit in 2026.
Beat or not, that $4.21 is still below the $4.38 from the same quarter in 2025. Costs excluding fuel per passenger cruise day rose 4.4%, and the cost beat came largely from the timing of expenses. Then there is pricing, where the story gets less rosy. Third-quarter net yields are guided to roughly flat against 2025 while capacity grows 8.5%, so the expected 8% revenue growth comes from more capacity, not from better yields. Management also says prolonged geopolitical activity has dented bookings on select itineraries. It calls the hit modest, but it is now built into guidance.
The refinancing also doesn't shrink the debt pile. New notes pay off old borrowings, so the total owed stays roughly where it was, and the company still expects net interest of $980 million to $990 million this year. Add roughly $4.7 billion of capital spending in 2026, mostly for new ships and destination projects, and it is clear this business needs a steady supply of capital. The April ship orders, Icon VI and Icon VII, extend that appetite, though their financing is already committed.
#billion #quarter #company #year
2 months ago
Interested in Upexi, Inc.? Here are five stocks we like better.
Upexi strengthened its balance sheet and cut costs by extinguishing about $20 million of debt, refinancing at a lower 7.5% interest rate and reducing its workforce to 10 employees from 59.
The company held approximately 2.34 million Solana tokens worth $165.3 million at June 30, with 95% staked; the treasury generated $17.4 million in digital-asset revenue but incurred $195.1 million in unrealized and $11.7 million in realized losses.
Fiscal-year net loss widened sharply to $246.1 million from $13.7 million, while stockholders' equity fell to negative $53.8 million, largely due to digital-asset losses, higher interest costs and stock-based compensation.
Upexi (NASDAQ:UPXI) said it strengthened its balance sheet, reduced operating expenses and continued to build its Solana treasury during fiscal 2026, though declines in digital-asset values drove a substantially wider full-year net loss.
#digital #Solana #strengthened #costs
Upexi strengthened its balance sheet and cut costs by extinguishing about $20 million of debt, refinancing at a lower 7.5% interest rate and reducing its workforce to 10 employees from 59.
The company held approximately 2.34 million Solana tokens worth $165.3 million at June 30, with 95% staked; the treasury generated $17.4 million in digital-asset revenue but incurred $195.1 million in unrealized and $11.7 million in realized losses.
Fiscal-year net loss widened sharply to $246.1 million from $13.7 million, while stockholders' equity fell to negative $53.8 million, largely due to digital-asset losses, higher interest costs and stock-based compensation.
Upexi (NASDAQ:UPXI) said it strengthened its balance sheet, reduced operating expenses and continued to build its Solana treasury during fiscal 2026, though declines in digital-asset values drove a substantially wider full-year net loss.
#digital #Solana #strengthened #costs
2 months ago
Burford Capital Limited (NYSE:BUR) announced on September 14 that its indirect, wholly owned subsidiary, Burford Capital Global Finance LLC, priced $300 million of 8% senior secured notes due 2029. Closing is expected September 17, subject to customary conditions.
Net proceeds and existing cash are intended to redeem the subsidiary's 6.25% unsecured notes due in 2028. The transaction would move this maturity into 2029, with a coupon 175 basis points higher.
The September 14 offering announcement confirmed $400 million of outstanding 2028 notes, making the cash contribution central to the refinancing. Burford Capital Limited (NYSE:BUR) said it expected to issue a conditional notice targeting September 24, 2026, for redemption of all $400 million, subject to successful completion of the $300 million financing.
For Burford Capital Limited (NYSE:BUR), refinancing ahead of maturity creates more room for litigation investments to generate cash. Court proceedings, settlements, and collections follow uncertain schedules. Reducing dependence on a particular realization date could help management preserve investment value.
Redeeming the confirmed $400 million balance with $300 million of replacement notes would reduce gross principal by $100 million. Calculated annual coupons would fall from $25 million to $24 million, before fees and other financing costs.
#capital #september #NYSE
Net proceeds and existing cash are intended to redeem the subsidiary's 6.25% unsecured notes due in 2028. The transaction would move this maturity into 2029, with a coupon 175 basis points higher.
The September 14 offering announcement confirmed $400 million of outstanding 2028 notes, making the cash contribution central to the refinancing. Burford Capital Limited (NYSE:BUR) said it expected to issue a conditional notice targeting September 24, 2026, for redemption of all $400 million, subject to successful completion of the $300 million financing.
For Burford Capital Limited (NYSE:BUR), refinancing ahead of maturity creates more room for litigation investments to generate cash. Court proceedings, settlements, and collections follow uncertain schedules. Reducing dependence on a particular realization date could help management preserve investment value.
Redeeming the confirmed $400 million balance with $300 million of replacement notes would reduce gross principal by $100 million. Calculated annual coupons would fall from $25 million to $24 million, before fees and other financing costs.
#capital #september #NYSE
2 months ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Mortgage rates continue to rise as 2026 nears its fourth quarter. What is the outlook for home loan rates in the next five years? Should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference is known as the spread, and we'll account for it when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#next #five
Mortgage rates continue to rise as 2026 nears its fourth quarter. What is the outlook for home loan rates in the next five years? Should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference is known as the spread, and we'll account for it when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#next #five
2 months ago
The best time to refinance is when your credit score or overall financial situation has improved.
Generally, you should aim to either lower your interest rate or your monthly payment — preferably both.
Avoid refinancing when auto loan rates are high or if you won't be able to save money by switching lenders.
It makes sense to consider refinancing your auto loan if you can lower your interest rate and monthly payment. The refinancing process involves swapping your current loan for a new loan with different — and ideally better — terms.
However, refinancing is not always a wise financial move. If interest rates are high, or if you're close to paying off your loan, then it may make more sense to stick with your current lender. Knowing the ins and outs of when to refinance and when to wait will help you make the best decision for refinancing your auto loan.
#financial #lower
Generally, you should aim to either lower your interest rate or your monthly payment — preferably both.
Avoid refinancing when auto loan rates are high or if you won't be able to save money by switching lenders.
It makes sense to consider refinancing your auto loan if you can lower your interest rate and monthly payment. The refinancing process involves swapping your current loan for a new loan with different — and ideally better — terms.
However, refinancing is not always a wise financial move. If interest rates are high, or if you're close to paying off your loan, then it may make more sense to stick with your current lender. Knowing the ins and outs of when to refinance and when to wait will help you make the best decision for refinancing your auto loan.
#financial #lower
2 months ago
MercadoLibre, Inc. (NASDAQ:MELI) priced $1 billion of senior unsecured notes on September 9, 2026, with settlement scheduled for September 14 and maturity on September 14, 2036. As of September 10, the transaction had not settled.
The notes carry a 5.85% coupon, with proceeds intended for general corporate purposes. Once settled, they would require $58.5 million in annual coupon payments on the full principal outstanding, alongside repayment of $1 billion at maturity.
Management retains discretion over deployment. Logistics, payments, credit and commerce represent potential uses within the business, rather than disclosed allocations of this particular offering.
Ten-year funding can better match investments whose benefits emerge over several years. Logistics facilities need time to attract shipment volume, while financial-services products require investment in technology, customer acquisition and risk management before reaching scale.
For MercadoLibre, Inc. (NASDAQ:MELI), that longer horizon could reduce dependence on repeated short-term refinancing. A fixed coupon also makes contractual dollar interest payments more predictable if market borrowing rates rise.
#payments
The notes carry a 5.85% coupon, with proceeds intended for general corporate purposes. Once settled, they would require $58.5 million in annual coupon payments on the full principal outstanding, alongside repayment of $1 billion at maturity.
Management retains discretion over deployment. Logistics, payments, credit and commerce represent potential uses within the business, rather than disclosed allocations of this particular offering.
Ten-year funding can better match investments whose benefits emerge over several years. Logistics facilities need time to attract shipment volume, while financial-services products require investment in technology, customer acquisition and risk management before reaching scale.
For MercadoLibre, Inc. (NASDAQ:MELI), that longer horizon could reduce dependence on repeated short-term refinancing. A fixed coupon also makes contractual dollar interest payments more predictable if market borrowing rates rise.
#payments
2 months ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Mortgage rates continue to rise as 2026 nears its fourth quarter. What is the outlook for home loan rates in the next five years? Should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference is known as the spread, and we'll account for it when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#rates #five #yields
Mortgage rates continue to rise as 2026 nears its fourth quarter. What is the outlook for home loan rates in the next five years? Should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference is known as the spread, and we'll account for it when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#rates #five #yields
2 months ago
An AI approval in minutes means nothing if you retire before closing. Lenders must re-verify employment within 10 business days of the note date.
Retirement income like Social Security can replace a salary for qualifying purposes, and an SSA award letter alone may be enough to close.
A rate lock protects only the interest rate, so disclose your retirement date early and build the loan file around income that survives closing day.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
Mortgage lenders are racing to make refinancing feel almost instantaneous. Better.com says an initial approval can take as little as two minutes. For a borrower nearing retirement, that speed creates a strange new trap.
#approval
Retirement income like Social Security can replace a salary for qualifying purposes, and an SSA award letter alone may be enough to close.
A rate lock protects only the interest rate, so disclose your retirement date early and build the loan file around income that survives closing day.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
Mortgage lenders are racing to make refinancing feel almost instantaneous. Better.com says an initial approval can take as little as two minutes. For a borrower nearing retirement, that speed creates a strange new trap.
#approval
2 months ago
This story was originally published on Bisnow, the newsroom global commercial real estate reads first. To receive daily news and ******* ysis, subscribe to Bisnow's free suite of newsletters.
A pair of national real estate investment managers closed their U.S. office credit fund with $1.1B in investor commitments.
Hines and Rialto Capital secured 126 investors for their Hines Rialto Credit Partners, a co-general partnership focused on U.S. office credit investments. The fund required a minimum investment of $100K, according to a filing with the U.S. Securities and Exchange Commission.
With the rapid growth of private credit, Hines said it believes investors are searching for real estate credit strategies grounded in specialized underwriting and deep market knowledge.
"Yield alone does not tell you the quality of the risk," Alfonso Munk, Hines' global co-head of investment management, said in a statement. "In real estate credit, understanding the underlying ******* et — what it is worth, how it performs and how it may hold up under pressure — is becoming increasingly important as the market works through a significant refinancing cycle."
#real #rialto
A pair of national real estate investment managers closed their U.S. office credit fund with $1.1B in investor commitments.
Hines and Rialto Capital secured 126 investors for their Hines Rialto Credit Partners, a co-general partnership focused on U.S. office credit investments. The fund required a minimum investment of $100K, according to a filing with the U.S. Securities and Exchange Commission.
With the rapid growth of private credit, Hines said it believes investors are searching for real estate credit strategies grounded in specialized underwriting and deep market knowledge.
"Yield alone does not tell you the quality of the risk," Alfonso Munk, Hines' global co-head of investment management, said in a statement. "In real estate credit, understanding the underlying ******* et — what it is worth, how it performs and how it may hold up under pressure — is becoming increasingly important as the market works through a significant refinancing cycle."
#real #rialto
2 months ago
On August 4, Willis Lease Finance Corporation (NASDAQ:WLFC) reported second-quarter results that pulled in two directions at once. The lessor of commercial aircraft engines grew its operating business at a healthy clip, yet net income fell by more than half, a split that makes this quarter harder to read than the headline suggests.
Income from operations climbed 20.2% to $34.0 million in the quarter ended June 30, 2026, and the engine underneath that number is lease rent revenue, which rose 6.7% to $77.1 million as the average size of Willis Lease's portfolio expanded from a year earlier. Over the first six months of 2026, lease rent revenue is up 10.4% to $154.5 million, a steadier pace than the quarterly figure alone implies.
The company's trading business added to that. Willis Lease booked a $32.0 million gain on the sale of leased equipment, up 16.2%, after selling 21 engines and other parts and equipment during the quarter, compared with 14 engines and two airframes a year earlier. That kind of turnover matters for a leasing company, since selling ****** ets at a gain confirms that engine values in the market are holding up.
The bigger story sits in how Willis Lease is expanding beyond its own balance sheet. ****** ets under management, which folds in the company's on-balance-sheet fleet along with its Willis Aviation Capital business, grew 21% year over year to $4.4 billion. CEO Austin C. Willis tied that growth directly to building out Willis Aviation Capital, and the fee income backs that up: management and advisory fees jumped 113.4% to $5.5 million in the quarter and 194.9% to $13.4 million over six months. Two new investment fund partnerships, one with Liberty Mutual Investments that began operating in March 2026 and one with Blackstone Credit & Insurance that started in April 2026, are the mechanics behind that shift toward managing other people's capital rather than only deploying its own.
Net income attributable to common shareholders fell 51.2% to $28.7 million, and diluted earnings per share dropped from $2.81 to $1.31. Some of that gap traces to a tough comparison rather than a weaker quarter, since the second quarter of 2025 included a $43.0 million gain from the sale of the BAML business that had no counterpart this year. Willis Lease also recognized a $5.4 million loss on debt extinguishment in the quarter, and $12.4 million over six months, a cost tied to refinancing that simply was not there in 2025.
#lease #capital #months
Income from operations climbed 20.2% to $34.0 million in the quarter ended June 30, 2026, and the engine underneath that number is lease rent revenue, which rose 6.7% to $77.1 million as the average size of Willis Lease's portfolio expanded from a year earlier. Over the first six months of 2026, lease rent revenue is up 10.4% to $154.5 million, a steadier pace than the quarterly figure alone implies.
The company's trading business added to that. Willis Lease booked a $32.0 million gain on the sale of leased equipment, up 16.2%, after selling 21 engines and other parts and equipment during the quarter, compared with 14 engines and two airframes a year earlier. That kind of turnover matters for a leasing company, since selling ****** ets at a gain confirms that engine values in the market are holding up.
The bigger story sits in how Willis Lease is expanding beyond its own balance sheet. ****** ets under management, which folds in the company's on-balance-sheet fleet along with its Willis Aviation Capital business, grew 21% year over year to $4.4 billion. CEO Austin C. Willis tied that growth directly to building out Willis Aviation Capital, and the fee income backs that up: management and advisory fees jumped 113.4% to $5.5 million in the quarter and 194.9% to $13.4 million over six months. Two new investment fund partnerships, one with Liberty Mutual Investments that began operating in March 2026 and one with Blackstone Credit & Insurance that started in April 2026, are the mechanics behind that shift toward managing other people's capital rather than only deploying its own.
Net income attributable to common shareholders fell 51.2% to $28.7 million, and diluted earnings per share dropped from $2.81 to $1.31. Some of that gap traces to a tough comparison rather than a weaker quarter, since the second quarter of 2025 included a $43.0 million gain from the sale of the BAML business that had no counterpart this year. Willis Lease also recognized a $5.4 million loss on debt extinguishment in the quarter, and $12.4 million over six months, a cost tied to refinancing that simply was not there in 2025.
#lease #capital #months
2 months ago
In 2024, Catalent tapped direct lenders for a $4.2 billion term loan to fund its acquisition by Novo Holdings. Last month, the drug manufacturer refinanced with a $4.1 billion syndicated loan that it says will cut its annual interest expense by about $100 million.
Catalent's move captures a shift under way in the leveraged finance market, according to a new report from DC Advisory. Redemptions from retail investors are contributing to the erosion of private credit's pricing advantage, creating an opening for banks to win refinancing business.
The problems in the retail private credit market show few signs of abating.
All the largest direct lenders, such as Ares, Apollo and KKR, also run business development companies, the most common form of credit fund aimed at individual investors, all under varying degrees of pressure to redeem investors.
PitchBook LCD reported on Wednesday that investors in Cliffwater's direct lending interval fund sought to redeem 16% of shares outstanding in the third quarter, down from 17% in the prior quarter.
#billion #private
Catalent's move captures a shift under way in the leveraged finance market, according to a new report from DC Advisory. Redemptions from retail investors are contributing to the erosion of private credit's pricing advantage, creating an opening for banks to win refinancing business.
The problems in the retail private credit market show few signs of abating.
All the largest direct lenders, such as Ares, Apollo and KKR, also run business development companies, the most common form of credit fund aimed at individual investors, all under varying degrees of pressure to redeem investors.
PitchBook LCD reported on Wednesday that investors in Cliffwater's direct lending interval fund sought to redeem 16% of shares outstanding in the third quarter, down from 17% in the prior quarter.
#billion #private
2 months ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Mortgage rates continue to rise as 2026 nears its fourth quarter. What is the outlook for home loan rates in the next five years? Should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference is known as the spread, and we'll account for it when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#rates #treasury #look #predictions
Mortgage rates continue to rise as 2026 nears its fourth quarter. What is the outlook for home loan rates in the next five years? Should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference is known as the spread, and we'll account for it when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#rates #treasury #look #predictions
2 months ago
The European Central Bank (ECB) on Thursday raised its three key interest rates by 25 basis points, lifting the deposit facility rate to 2.50%, the main refinancing rate to 2.65%, and the marginal lending facility rate to 2.90%, effective September 16.
The unanimous decision, which ECB President Christine Lagarde called a "no brainer," marks the ECB's second rate hike of 2026 following its June increase. The move comes directly in response to persistent inflation pressures generated by the ongoing U.S.-Iran conflict, which has disrupted energy shipments through the Strait of Hormuz and sent oil prices (CLV26) back above $100 per barrel.
Crude Oil Prices Soar on Escalation of Middle East Hostilities
Nat-Gas Prices Sink on the Outlook for Weaker US Demand
Crude Oil Prices Soar on Fears US-Iran War to Persist
#Iran #soar #european #central
The unanimous decision, which ECB President Christine Lagarde called a "no brainer," marks the ECB's second rate hike of 2026 following its June increase. The move comes directly in response to persistent inflation pressures generated by the ongoing U.S.-Iran conflict, which has disrupted energy shipments through the Strait of Hormuz and sent oil prices (CLV26) back above $100 per barrel.
Crude Oil Prices Soar on Escalation of Middle East Hostilities
Nat-Gas Prices Sink on the Outlook for Weaker US Demand
Crude Oil Prices Soar on Fears US-Iran War to Persist
#Iran #soar #european #central
2 months ago
CNBC reported that The Goodyear Tire & Rubber Company (NASDAQ:GT) has extended the timeline for its "Goodyear Forward" turnaround plan after key financial targets went unmet.
CEO Mark Stewart told CNBC the company is trying to reach a 10% operating margin and generate meaningful cash flow, but debt remained above $7 billion at the end of the second quarter. Goodyear posted a $453 million net loss through the first half of the year against operating income of just $131 million, a 1.6% margin. The business has been hit by tariffs, elevated raw material costs, and expanding competition from cheaper Chinese tire imports. Capital expenditures, which ran roughly $2 billion combined in 2024 and 2025, are expected to fall to $725 million this year as the company prioritizes debt paydown and refinancing.
Copyright: baranq / 123RF Stock Photo
The core business is still generating a positive operating margin even amid a large net loss. Operating income of $131 million over six months shows The Goodyear Tire & Rubber Company (NASDAQ:GT)'s core tire operations are not losing money at the operating level, suggesting the much larger net loss stems mainly from the cost of servicing its debt rather than the core business itself failing.
Management is showing real capital discipline and not just promises since cutting planned capital expenditures to $725 million this year from roughly $1 billion annually in 2024 and 2025 combined is a measurable step toward freeing up cash for debt reduction. Moreover, tangible customer-facing investments, like the new retail concept store Stewart showcased in Detroit.
#goodyear #tire
CEO Mark Stewart told CNBC the company is trying to reach a 10% operating margin and generate meaningful cash flow, but debt remained above $7 billion at the end of the second quarter. Goodyear posted a $453 million net loss through the first half of the year against operating income of just $131 million, a 1.6% margin. The business has been hit by tariffs, elevated raw material costs, and expanding competition from cheaper Chinese tire imports. Capital expenditures, which ran roughly $2 billion combined in 2024 and 2025, are expected to fall to $725 million this year as the company prioritizes debt paydown and refinancing.
Copyright: baranq / 123RF Stock Photo
The core business is still generating a positive operating margin even amid a large net loss. Operating income of $131 million over six months shows The Goodyear Tire & Rubber Company (NASDAQ:GT)'s core tire operations are not losing money at the operating level, suggesting the much larger net loss stems mainly from the cost of servicing its debt rather than the core business itself failing.
Management is showing real capital discipline and not just promises since cutting planned capital expenditures to $725 million this year from roughly $1 billion annually in 2024 and 2025 combined is a measurable step toward freeing up cash for debt reduction. Moreover, tangible customer-facing investments, like the new retail concept store Stewart showcased in Detroit.
#goodyear #tire
2 months ago
On August 6, PENN Entertainment (NASDAQ:PENN) reported second-quarter results that flipped from a year-ago loss into a profit. Net income came in at $32.6 million, compared with a loss of $18.3 million in the same quarter of 2025. Revenue rose to $1.86 billion from $1.77 billion, and Adjusted EBITDA climbed to $312.6 million from $236.1 million. Diluted earnings per share landed at $0.24, versus a loss per share of $0.12 a year earlier. For a company whose digital business has weighed on results for years, that combination stands out.
The Retail segment, which covers PENN's casino properties across the Northeast, South, West and Midwest, generated $1.5 billion in revenue and $517.2 million in Segment Adjusted EBITDAR, a margin of 34.4%. Nine properties posted their best second quarter ever for both revenue and Adjusted EBITDAR, a sign the strength wasn't confined to one or two markets. June brought two new additions to the portfolio: a hotel tower at Hollywood Columbus and the new Hollywood Casino Aurora, both of which the company said are already drawing strong visitation.
The balance sheet also moved in the right direction. Total liquidity stood at $1.9 billion as of June 30, including $887.2 million in cash. Traditional net debt fell to $1,927.5 million from $2,217.5 million at the end of 2025, pulling traditional net leverage down to 2.9 times from 4.5 times over that span. Capital expenditures dropped to $97.5 million in the quarter from $159.4 million a year earlier. On May 15, PENN repaid the remaining $106.7 million balance of its 2.75% convertible notes, wiping out roughly 4.6 million potentially dilutive shares in the process.
The Interactive segment still lost money, an Adjusted EBITDA loss of $9.5 million, though that's a sharp improvement from the $62.0 million loss posted in the second quarter of 2025. Revenue for the segment reached $349.4 million, but $185.5 million of that figure came from a tax gross-up rather than actual wagering activity, a distinction that matters when sizing up the segment's real growth. PENN also leaned on refinancing to manage its debt load rather than paying it down outright: on April 16, it extended its $1.0 billion revolving credit facility and $446.9 million term loan A to 2031, and on May 28, it repriced and extended its term loan B facility to 2033.
Total traditional debt still sat at $2,814.7 million at quarter's end. Other expenses jumped to $43.0 million for the first six months of 2026 from just $2.2 million a year earlier, driven by transaction costs, severance tied to a corporate reorganization, and settlement costs connected to the company's cooperation agreement with HG Vora Capital Management. Cash rent payments to REIT landlords also remained a heavy recurring cost, $247.1 million for the quarter alone.
#revenue
The Retail segment, which covers PENN's casino properties across the Northeast, South, West and Midwest, generated $1.5 billion in revenue and $517.2 million in Segment Adjusted EBITDAR, a margin of 34.4%. Nine properties posted their best second quarter ever for both revenue and Adjusted EBITDAR, a sign the strength wasn't confined to one or two markets. June brought two new additions to the portfolio: a hotel tower at Hollywood Columbus and the new Hollywood Casino Aurora, both of which the company said are already drawing strong visitation.
The balance sheet also moved in the right direction. Total liquidity stood at $1.9 billion as of June 30, including $887.2 million in cash. Traditional net debt fell to $1,927.5 million from $2,217.5 million at the end of 2025, pulling traditional net leverage down to 2.9 times from 4.5 times over that span. Capital expenditures dropped to $97.5 million in the quarter from $159.4 million a year earlier. On May 15, PENN repaid the remaining $106.7 million balance of its 2.75% convertible notes, wiping out roughly 4.6 million potentially dilutive shares in the process.
The Interactive segment still lost money, an Adjusted EBITDA loss of $9.5 million, though that's a sharp improvement from the $62.0 million loss posted in the second quarter of 2025. Revenue for the segment reached $349.4 million, but $185.5 million of that figure came from a tax gross-up rather than actual wagering activity, a distinction that matters when sizing up the segment's real growth. PENN also leaned on refinancing to manage its debt load rather than paying it down outright: on April 16, it extended its $1.0 billion revolving credit facility and $446.9 million term loan A to 2031, and on May 28, it repriced and extended its term loan B facility to 2033.
Total traditional debt still sat at $2,814.7 million at quarter's end. Other expenses jumped to $43.0 million for the first six months of 2026 from just $2.2 million a year earlier, driven by transaction costs, severance tied to a corporate reorganization, and settlement costs connected to the company's cooperation agreement with HG Vora Capital Management. Cash rent payments to REIT landlords also remained a heavy recurring cost, $247.1 million for the quarter alone.
#revenue
2 months ago
Americold Realty Trust, Inc. (NYSE:COLD) completed a cold-storage joint venture with EQT's Active Core Infrastructure fund covering 12 U.S. temperature-controlled warehouses with more than $1.3 billion of gross ***** et value. EQT acquired 70% of Americold-EQT Cold Storage Partnership, while Americold Realty Trust, Inc. (NYSE:COLD) retained 30% and became the day-to-day manager.
Americold Realty Trust, Inc. (NYSE:COLD) received approximately $1.1 billion of net cash proceeds and intends to use the cash to repay outstanding consolidated debt. Based on rounded announced figures, the proceeds equal approximately 25% of the latest reported net debt of $4.4 billion. Americold Realty Trust, Inc. (NYSE:COLD) projects that the eventual debt repayment will reduce annual interest expense by approximately $46 million and lower leverage by roughly 0.75 turn.
The structure remains more complicated than a simple ***** et sale. The joint venture drew $845.5 million under mortgage financing at closing. Americold Realty Trust, Inc. (NYSE:COLD) and EQT each appoint three members to the six-person board. Americold Realty Trust, Inc. (NYSE:COLD) also has maximum net exposure of up to $70 million under a 10-year income-support arrangement if specified performance thresholds are not achieved.
Those savings should offset part of the surrendered income while improving financial flexibility and reducing refinancing pressure.
Americold Realty Trust, Inc. (NYSE:COLD) retains exposure to distributions and appreciation through the 30% ownership interest. The management role preserves operating continuity, while equal board representation provides governance influence despite the minority economic stake.
#americold #trust #NYSE #debt
Americold Realty Trust, Inc. (NYSE:COLD) received approximately $1.1 billion of net cash proceeds and intends to use the cash to repay outstanding consolidated debt. Based on rounded announced figures, the proceeds equal approximately 25% of the latest reported net debt of $4.4 billion. Americold Realty Trust, Inc. (NYSE:COLD) projects that the eventual debt repayment will reduce annual interest expense by approximately $46 million and lower leverage by roughly 0.75 turn.
The structure remains more complicated than a simple ***** et sale. The joint venture drew $845.5 million under mortgage financing at closing. Americold Realty Trust, Inc. (NYSE:COLD) and EQT each appoint three members to the six-person board. Americold Realty Trust, Inc. (NYSE:COLD) also has maximum net exposure of up to $70 million under a 10-year income-support arrangement if specified performance thresholds are not achieved.
Those savings should offset part of the surrendered income while improving financial flexibility and reducing refinancing pressure.
Americold Realty Trust, Inc. (NYSE:COLD) retains exposure to distributions and appreciation through the 30% ownership interest. The management role preserves operating continuity, while equal board representation provides governance influence despite the minority economic stake.
#americold #trust #NYSE #debt
2 months ago
Garn-St Germain bars lenders from calling a parent's mortgage due at death, letting heirs keep a 3% rate locked against today's 6.73% average.
Heirs must file a death certificate or probate order with the servicer to establish successor-in-interest status before making payments on the inherited loan.
Reverse mortgages fall outside Garn-St Germain, and a HECM becomes due at the borrower's death, forcing heirs to pay off, sell, or surrender the property.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
If your parent still holds a mortgage locked in near 3% from the refinancing wave earlier this decade, that loan itself has become an ****** et worth considering. With the 30-year fixed averaging 6.73% at the end of August 2026 and the 10-year Treasury yield at 4.75% as of August 31, 2026, a below-market fixed rate is effectively something you inherit along with the house. A federal law passed back in 1982 says that when a homeowner dies and the property passes to a relative, the lender cannot use the death as an excuse to call the loan due. The kids can keep both the house and the rate.
#heirs
Heirs must file a death certificate or probate order with the servicer to establish successor-in-interest status before making payments on the inherited loan.
Reverse mortgages fall outside Garn-St Germain, and a HECM becomes due at the borrower's death, forcing heirs to pay off, sell, or surrender the property.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
If your parent still holds a mortgage locked in near 3% from the refinancing wave earlier this decade, that loan itself has become an ****** et worth considering. With the 30-year fixed averaging 6.73% at the end of August 2026 and the 10-year Treasury yield at 4.75% as of August 31, 2026, a below-market fixed rate is effectively something you inherit along with the house. A federal law passed back in 1982 says that when a homeowner dies and the property passes to a relative, the lender cannot use the death as an excuse to call the loan due. The kids can keep both the house and the rate.
#heirs
2 months ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Mortgage rates have been higher in the last few years. But where are rates headed in the next five years, and should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference between the two is known as the spread, and we'll account for that when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#rates #headed
Mortgage rates have been higher in the last few years. But where are rates headed in the next five years, and should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference between the two is known as the spread, and we'll account for that when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#rates #headed
2 months ago
This story was originally published on CRE Daily. Join 70,000+ commercial real estate professionals getting daily news, market insights, and industry ***** ysis delivered straight to their inbox with the free CRE Daily newsletter.
National Resources, Great Point Studios, and Lindsay Goldberg refinanced their 719,943-square-foot "Hollywood on the Hudson" studio portfolio in Yonkers for $435 million.
The floating-rate loan from Bank of Montreal, Starwood Mortgage Capital, and Bank of America replaces $376.8 million in debt and funds tenant improvements.
The portfolio is 98.9% leased with Lionsgate Studio Corp. alone occupying 52.5% of the ***** e, underscoring strong demand for film and TV production real estate.
A four-building Yonkers film studio and office portfolio has landed a $435 million refinancing, according to Commercial Property Executive. The borrower, a joint venture between National Resources, Great Point Studios Operations, and Lindsay Goldberg, used the floating-rate loan to retire $376.8 million in prior debt on the 719,943-square-foot "Hollywood on the Hudson" portfolio, with the balance covering closing costs, equity returns, and tenant improvements.
#Portfolio #national #point #lindsay
National Resources, Great Point Studios, and Lindsay Goldberg refinanced their 719,943-square-foot "Hollywood on the Hudson" studio portfolio in Yonkers for $435 million.
The floating-rate loan from Bank of Montreal, Starwood Mortgage Capital, and Bank of America replaces $376.8 million in debt and funds tenant improvements.
The portfolio is 98.9% leased with Lionsgate Studio Corp. alone occupying 52.5% of the ***** e, underscoring strong demand for film and TV production real estate.
A four-building Yonkers film studio and office portfolio has landed a $435 million refinancing, according to Commercial Property Executive. The borrower, a joint venture between National Resources, Great Point Studios Operations, and Lindsay Goldberg, used the floating-rate loan to retire $376.8 million in prior debt on the 719,943-square-foot "Hollywood on the Hudson" portfolio, with the balance covering closing costs, equity returns, and tenant improvements.
#Portfolio #national #point #lindsay
2 months ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
With the SAVE program ending and major changes for federal student loan borrowers this year, now could be a good time to review your repayment plan — which may also include refinancing.
Refinancing your student loans can help you score a lower interest rate or consolidate multiple monthly payments into one. But if you're refinancing federal student loans, you could also lose some valuable protections and forgiveness opportunities.
The first step is finding a student loan refinance lender that works with your budget and timeline. To help you get started, here are some top options today.
Read more: How to refinance your student loans
#refinancing #federal #disclosure
With the SAVE program ending and major changes for federal student loan borrowers this year, now could be a good time to review your repayment plan — which may also include refinancing.
Refinancing your student loans can help you score a lower interest rate or consolidate multiple monthly payments into one. But if you're refinancing federal student loans, you could also lose some valuable protections and forgiveness opportunities.
The first step is finding a student loan refinance lender that works with your budget and timeline. To help you get started, here are some top options today.
Read more: How to refinance your student loans
#refinancing #federal #disclosure
2 months ago
Barnes & Thornburg filed the lawsuit, opens new tab on August 26 in Cook County Circuit Court, alleging breach of contract and other claims. It said Deng hired the firm to handle the refinancing of a New York-based property, as well as negotiating with lenders, exploring financial options and restructuring loans on a Chicago-based property.
This article originally appeared on Hoops Hype: Barnes & Thornburg filed the lawsuit, opens new tab …
#barnes #thornburg #property #august
This article originally appeared on Hoops Hype: Barnes & Thornburg filed the lawsuit, opens new tab …
#barnes #thornburg #property #august
2 months ago
On August 28, Frontline (NYSE:FRO) posted the best quarter in company history, with net income of $659 million and adjusted profit of $580 million for the second quarter of 2026, up $235 million from the prior quarter. The gains came from tanker rates that climbed across every vessel class Frontline operates, from its largest crude carriers to its smaller product tankers. CEO Lars Barstad described a market with no playbook, one where geopolitical disruption is reshaping how oil moves around the world. The bigger question left hanging on the call is how much of that strength holds once the disruptions ease.
VLCC rates hit $153,000 per day in the second quarter of 2026, while Suezmax and LR2/Aframax vessels earned $111,000 and $92,400 per day. That strength has carried into the third quarter, where Frontline has already booked 86% of VLCC days at $157,000 per day, 79% of Suezmax days at $117,000 per day, and 70% of LR2 days at $81,000 per day, evidence that rates are holding rather than sliding back. The fleet backing those numbers is young and efficient, averaging 6.6 years old, fully eco-designed, and 69% scrubber-fitted, which keeps cash breakeven costs between $22,200 and $25,700 per day, well under what the ships are currently earning.
That spread between cost and rate is throwing off real cash. Management estimated annual cash generation potential at $2.3 billion, or $10.35 per share, based on rates as of August 28, a 24% yield against the current share price. The balance sheet has room to match it: $1.2 billion in liquidity, no debt maturities until 2030, and a refinancing that cut the average interest rate margin by 52 basis points to 1.26%. Frontline also collected $270 million selling two VLCCs at about $135 million apiece, with Barstad noting some buyers are paying premiums for older tankers just to control their own logistics chains.
Much of the current rate strength traces back to friction rather than growth in oil demand. Crude exports from inside the Strait of Hormuz are down 82% amid recent disruptions, and China's crude imports have fallen 35%, cushioned by inventory drawdowns rather than fresh buying. Barstad pointed to a 23% increase in VLCC idling days, driven by ship-to-ship transfers off Fujairah and Malaysia that can triple the distance a cargo travels before reaching its final buyer. That inefficiency is tightening effective fleet supply even as actual volumes shrink, which is a different story than genuine demand growth.
#million #vlcc #strength #rather
VLCC rates hit $153,000 per day in the second quarter of 2026, while Suezmax and LR2/Aframax vessels earned $111,000 and $92,400 per day. That strength has carried into the third quarter, where Frontline has already booked 86% of VLCC days at $157,000 per day, 79% of Suezmax days at $117,000 per day, and 70% of LR2 days at $81,000 per day, evidence that rates are holding rather than sliding back. The fleet backing those numbers is young and efficient, averaging 6.6 years old, fully eco-designed, and 69% scrubber-fitted, which keeps cash breakeven costs between $22,200 and $25,700 per day, well under what the ships are currently earning.
That spread between cost and rate is throwing off real cash. Management estimated annual cash generation potential at $2.3 billion, or $10.35 per share, based on rates as of August 28, a 24% yield against the current share price. The balance sheet has room to match it: $1.2 billion in liquidity, no debt maturities until 2030, and a refinancing that cut the average interest rate margin by 52 basis points to 1.26%. Frontline also collected $270 million selling two VLCCs at about $135 million apiece, with Barstad noting some buyers are paying premiums for older tankers just to control their own logistics chains.
Much of the current rate strength traces back to friction rather than growth in oil demand. Crude exports from inside the Strait of Hormuz are down 82% amid recent disruptions, and China's crude imports have fallen 35%, cushioned by inventory drawdowns rather than fresh buying. Barstad pointed to a 23% increase in VLCC idling days, driven by ship-to-ship transfers off Fujairah and Malaysia that can triple the distance a cargo travels before reaching its final buyer. That inefficiency is tightening effective fleet supply even as actual volumes shrink, which is a different story than genuine demand growth.
#million #vlcc #strength #rather
2 months ago
Mortgage rates ticked higher this week, nudging the average long-term U.S. home loan rate closer to its recent high for the year.
The benchmark 30-year fixed rate mortgage rate edged up to 6.66% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.56%.
Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers' purchasing power. As rates rise, that can lead prospective home shoppers to delay buying a home, one reason U.S. home sales remain in a rut this year.
The average rate is now back to where it was four weeks ago and is just shy of 6.69%, the high for the year it reached earlier this month.
Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week. That average rate increased to 5.98% from 5.95% last week. A year ago, it was at 5.69%.
#rate #average #high
The benchmark 30-year fixed rate mortgage rate edged up to 6.66% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.56%.
Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers' purchasing power. As rates rise, that can lead prospective home shoppers to delay buying a home, one reason U.S. home sales remain in a rut this year.
The average rate is now back to where it was four weeks ago and is just shy of 6.69%, the high for the year it reached earlier this month.
Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week. That average rate increased to 5.98% from 5.95% last week. A year ago, it was at 5.69%.
#rate #average #high
2 months ago
Venture Global, Inc. (NYSE:VG) shares are drawing heightened attention following the release of its second-quarter 2026 financial results. The company delivered substantial growth across key operational and financial metrics, prompting management to raise its full-year 2026 Consolidated Adjusted EBITDA guidance to $8.7 billion–$9.1 billion (up from $8.2 billion–$8.5 billion). Driven by accelerating production from its Plaquemines LNG facility, Venture Global exported 127 cargoes and sold 466.4 TBtu during the quarter, a 42% surge in volume year-over-year.
For Q2 2026, Venture Global, Inc. (NYSE:VG) reported total revenue of $4.6 billion, up 48% from $3.10 billion in Q2 2025. Operating income soared 111% year-over-year to $2.2 billion, while net income attributable to common stockholders surged 266% to $1.3 billion ($0.51 diluted EPS vs. $0.14 a year ago). Consolidated Adjusted EBITDA reached $2.5 billion, marking a 79% jump compared to $1.39 billion in the prior-year period. Stronger implied liquefaction fees under commissioning sales agreements and tight cost controls allowed operating margins to expand to 47.8%. Additionally, the board declared a $0.04 per share cash dividend for Q3.
On August 12, Wells Fargo raised its price target on Venture Global, Inc. (NYSE:VG) to $15 from $14 while maintaining an Equal Weight rating. The firm noted Q2 was essentially in line with expectations, highlighting the company's raised 2026 guidance above consensus on higher market spreads. Wells cited higher underlying EBITDA estimates and a significant increase in Venture Global's dividend per share as key supporting drivers.
This brings up a core question: Does the guidance hike and operational expansion signal a lasting multi-year earnings transformation, or are investors exposed to project execution and leverage risks?
Proponents point to Venture Global, Inc. (NYSE:VG)'s strong profitability, expanding scale, and long-term contracted position. Rapid volume growth, evidenced by passing its 1,000th total exported cargo, proves operational capability, while 91% contracted cargo coverage for 2026 offers high cash flow visibility. Furthermore, management's recent refinancing efforts extend maturities and lower debt-service costs, offering a stable financial foundation to fund project build-outs like CP2 and maintain shareholder returns.
#billion #global #ebitda
For Q2 2026, Venture Global, Inc. (NYSE:VG) reported total revenue of $4.6 billion, up 48% from $3.10 billion in Q2 2025. Operating income soared 111% year-over-year to $2.2 billion, while net income attributable to common stockholders surged 266% to $1.3 billion ($0.51 diluted EPS vs. $0.14 a year ago). Consolidated Adjusted EBITDA reached $2.5 billion, marking a 79% jump compared to $1.39 billion in the prior-year period. Stronger implied liquefaction fees under commissioning sales agreements and tight cost controls allowed operating margins to expand to 47.8%. Additionally, the board declared a $0.04 per share cash dividend for Q3.
On August 12, Wells Fargo raised its price target on Venture Global, Inc. (NYSE:VG) to $15 from $14 while maintaining an Equal Weight rating. The firm noted Q2 was essentially in line with expectations, highlighting the company's raised 2026 guidance above consensus on higher market spreads. Wells cited higher underlying EBITDA estimates and a significant increase in Venture Global's dividend per share as key supporting drivers.
This brings up a core question: Does the guidance hike and operational expansion signal a lasting multi-year earnings transformation, or are investors exposed to project execution and leverage risks?
Proponents point to Venture Global, Inc. (NYSE:VG)'s strong profitability, expanding scale, and long-term contracted position. Rapid volume growth, evidenced by passing its 1,000th total exported cargo, proves operational capability, while 91% contracted cargo coverage for 2026 offers high cash flow visibility. Furthermore, management's recent refinancing efforts extend maturities and lower debt-service costs, offering a stable financial foundation to fund project build-outs like CP2 and maintain shareholder returns.
#billion #global #ebitda
2 months ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Mortgage rates have been higher in the last few years. But where are rates headed in the next five years, and should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference between the two is known as the spread, and we'll account for that when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#higher #headed
Mortgage rates have been higher in the last few years. But where are rates headed in the next five years, and should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference between the two is known as the spread, and we'll account for that when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#higher #headed
2 months ago
In 2025, 87% of all mortgage borrowers paid above the most competitive rate available to them, and 78.7% of refinance borrowers overpaid, typically costing them $3,343 a year, or $278 a month, according to Bankrate's Hidden Homeownership Tax research.
Refinancing isn't free. Expect closing costs of 2% to 5% of your new loan amount, and the savings only outweigh that cost once you cross your break-even point.
While a lower interest rate sounds tempting, keep an eye on fees – they can overwhelm your savings from lower monthly payments.
Despite the rise in interest rates in the last few years, refinancing may still make sense for some homeowners. If you're a first-time refinancer, though, you might have a lot of questions about what the process is like — and might also have picked up some misinformation. Let's dispel some common myths about mortgage refinancing.
Myth
#savings
Refinancing isn't free. Expect closing costs of 2% to 5% of your new loan amount, and the savings only outweigh that cost once you cross your break-even point.
While a lower interest rate sounds tempting, keep an eye on fees – they can overwhelm your savings from lower monthly payments.
Despite the rise in interest rates in the last few years, refinancing may still make sense for some homeowners. If you're a first-time refinancer, though, you might have a lot of questions about what the process is like — and might also have picked up some misinformation. Let's dispel some common myths about mortgage refinancing.
Myth
#savings
2 months ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Mortgage rates have been higher in the last few years. But where are rates headed in the next five years, and should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference between the two is known as the spread, and we'll account for that when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#rates #years #look
Mortgage rates have been higher in the last few years. But where are rates headed in the next five years, and should you wait for mortgage rates to fall significantly before buying or refinancing? Mortgage interest rates are determined by several factors, all of which can give us clues about the future. Let's take a closer look at mortgage rate predictions over the next five years.
Here are the housing market predictions for 2026.
One of the most useful indicators for predicting mortgage rates is the yield on the 10-year U.S. Treasury note. Mortgage rates and 10-year Treasury yields typically move in the same direction, although mortgage rates are usually higher because lenders factor in additional risks. This difference between the two is known as the spread, and we'll account for that when estimating where mortgage rates could go.
With that in mind, the first step is to look at where economists believe Treasury yields are headed over the next five years. To build a forecast, we'll combine expert economic projections with data compiled using artificial intelligence.
#rates #years #look
2 months ago
Canada-headquartered Revolve Renewable Power Corp., a North American owner, operator and developer of power generation and digital infrastructure projects, announced it has entered into a MXN$450 million ($24 million) project-level, non-recourse-style financing facility with Banco Multiva, S.A., Institución de Banca Múltiple, Grupo Financiero Multiva. The facility is secured by project cash flows and contracted revenues and is expected to support the continued expansion of Revolve's distributed generation business in Mexico while enabling the company to recycle capital from existing operating and construction-stage ****** ets into future growth opportunities.Concurrent with the signing of the facility, Revolve expects to complete an initial drawdown of about MXN$128.8 million ($7.7 million) backed by operating ****** ets and projects currently under construction. This drawdown is anticipated to refinance a portion of Revolve's investment in these ****** ets and return capital to the corporate level, while maintaining ownership of the underlying projects and their long-term contracted revenue streams.Tania Ontiveros, CFO of Revolve, stated that the financing with Banco Multiva is a significant milestone and validation of the company's growing distributed generation business in Mexico. She expressed gratitude to the Banco Multiva team for their work and vision. Ontiveros highlighted that the facility provides the $24 million in long-term project-level capital for growth, and the initial drawdown of $7.7 million demonstrates the effectiveness of Revolve's capital recycling strategy. This involves recovering invested capital from developed and constructed ****** ets while retaining ownership and future cash flows.Tamara Caballero, CEO of Banco Multiva, noted that this financing marks a significant milestone for Multiva in advancing energy projects and reinforces its ability to deliver long-term financing solutions. She added that the institution is proud to contribute to the sector's growth through investment-encouraging structures that support innovative companies and create sustainable value for Mexico.The Multiva Facility is structured as a 14-year project financing facility, providing Revolve with access to long-term, non-dilutive capital. This capital is intended for the construction of new distributed generation (DG) projects, refinancing of operating ****** ets, and expansion of its portfolio of commercial and industrial solar projects in Mexico. The facility is structured through Revolve's Mexican subsidiaries, EPM Solar, S.A. de C.V. and RRP Business Solutions, S.A. de C.V., and comprises two equal MXN$225 million ($13.3 million) tranches.Key terms of the credit facility include a total size of MXN$450 million ($24 million), a term of 168 months (14 years) from drawdown, and a 24-month availability period. The facility's purpose is project-level debt financing of up to 75% of eligible distributed generation project expenditures, including de
2 months ago
Mortgage rates ticked higher this week, nudging the average long-term U.S. home loan rate closer to its recent high for the year.
The benchmark 30-year fixed rate mortgage rate edged up to 6.66% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.56%.
Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers' purchasing power. As rates rise, that can lead prospective home shoppers to delay buying a home, one reason U.S. home sales remain in a rut this year.
The average rate is now back to where it was four weeks ago and is just shy of 6.69%, the high for the year it reached earlier this month.
Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week. That average rate increased to 5.98% from 5.95% last week. A year ago, it was at 5.69%.
#rates #higher #high
The benchmark 30-year fixed rate mortgage rate edged up to 6.66% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.56%.
Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers' purchasing power. As rates rise, that can lead prospective home shoppers to delay buying a home, one reason U.S. home sales remain in a rut this year.
The average rate is now back to where it was four weeks ago and is just shy of 6.69%, the high for the year it reached earlier this month.
Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week. That average rate increased to 5.98% from 5.95% last week. A year ago, it was at 5.69%.
#rates #higher #high
