Stock Market News Today: Dow, S&P 500 Slip; Tesla, WeWork Stocks in Focus

  • 📰 WSJ
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Live coverage of stocks and financial news, including the S&P 500, Dow and Nasdaq Composite.

A novel way of helping Americans tap into their $32 trillion of home equity is gaining steam in the era of high rates. The method: Companies give owners cash up front in exchange for a stake in the appreciation of their homes. Homeowners don't make principal and interest payments, bypassing mortgage rates that have approached 8%. Instead, they repay the money, plus some share of the appreciation in their home, when they sell the house or refinance, or when the investment term ends.

One sign of that: the firms are packaging up their investment contracts into bonds and selling them to investors like insurance companies and money managers. Last week, Point closed on its first bond issuance to receive a rating, the company said. The $139 million worth of bonds are secured by 1,577 home equity investment contracts. As homeowners pay off their contracts, they produce a steady stream of income for investors.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Stock-market correction is over’ after broad surge amid ‘epic’ market ralliesYardeni Research breaks out winning sectors in the S&P 500’s surge last week
Source: MarketWatch - 🏆 3. / 97 Read more »

S&P 500 Forecast: Market subdued on Monday following best-performing week of 2023The S&P 500 index opened higher on Monday but somewhat gingerly.
Source: FXStreetNews - 🏆 14. / 72 Read more »