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Mortgage rates declined to their lowest level in a month last week amid concerns about the banking industry, while home loan applications rose for the third straight week. The Mortgage Bankers Association’s (MBA) Market Composite Index, which measures mortgage application volume, increased 3% from the previous week. Refinance applications jumped 5%, while those to purchase a home were up 2%. The MBA indicated that the average rate on a 30-year, fixed-rate conforming home loan (up to $726,200) was 6.48%, down from 6.71%. It hasn’t been that low since the week ending Feb. 10. Yields Down on Banking Turmoil "The drop in rates was related to the recent turmoil in the banking sector, which sent Treasury yields falling," said Joel Kan, the MBA’s vice president and deputy chief economist. He added that because of the dip in loan costs, "borrowers took the opportunity to act." Economists at mortgage originator Freddie Mac have made a similar observation, noting that the … [Read more...] about Mortgage Rates Decline to the Lowest Level in a Month

Goal setting is one of those things that seems like it would be fundamental to success. If you’ve read any books or articles about getting ahead in your career or life, you’ve probably come across tips on setting goals (like SMART goal setting) so that you can successfully meet them. But setting goals may not be as relevant anymore, and there may be better alternatives to managing your career–and your life. Part of the reason goal setting may be becoming irrelevant is because of the speed of change and the volatility of the world. When everything is moving so fast and changing, the goals you set for yourself can become redundant. That said, it’s very powerful to imagine yourself succeeding in the future and focus on your preferred version of tomorrow. The key is to seek to be directionally accurate , knowing that things are constantly changing in a way you can’t always predict. Here are five effective ways to take charge of your career when you’re operating in … [Read more...] about Forget about goal setting. Try these 5 strategies instead

As children, most of us were raised to not talk to strangers. The rule is meant to keep us safe, but carrying the idea into adulthood can cause us to miss out on enriching conversations. A new study published in the Psychological and Cognitive Sciences journal reveals that people actually enjoy talking to strangers more than they expect and the exchange can provide benefits. “We already know from previous research that people think they’ll enjoy spending their commute in silence, but it turns out that talking to a fellow passenger is more pleasant,” says Stav Atir, assistant professor of management at the Wisconsin School of Business at the University of Wisconsin-Madison and lead author of the study. “People underestimate the informational value of conversations. Yet, it’s an asset we are underutilizing.” Atir teamed up with University of Chicago’s Booth School of Business colleagues Nicholas Epley, who is a professor of behavioral science, and graduate student … [Read more...] about How (and why) you should get better at talking to strangers

There’s a common complaint in the workplace today: Employees’ schedules are often so packed with meetings that they have no time to do their actual jobs. Back in 2017, 71% of senior managers said that meetings were unproductive and inefficient; 65% reported that they got in the way of completing tasks. Since 2020, the problem has gotten worse. Research shows that with the rise of remote work, employees are spending more time in meetings and the workday has been extended by more than 45 minutes. This is unnecessary, and the good news is, it doesn’t have to be your team’s reality. I know this from experience. Running a $4-billion company with employees all around the world has forced me to rethink my approach to communication, and I encourage our leaders to do the same. By ensuring that every team has a deliberate, pared-down approach to meetings, we’ve increased productivity and boosted morale. Here are five strategies to help your team make the most of their … [Read more...] about 5 ways to cut down on meetings and make them more productive

If you got eight hours of sleep last night and woke up feeling tired, there’s a reason for that. Minutes matter more than hours when it comes to sleep quality. In fact, if you had slept for 30 minutes less, you’d likely feel more refreshed, says Dean Croke, principal analyst at DAT Freight & Analytics, an on-demand freight marketplace. For more than two decades, Croke has taught sleep science classes for truckers and shift workers, helping them get better quality sleep with fewer hours in bed. As you can imagine, truckers’ sleep schedules must be purposeful. “We build biocompatible schedules, which are schedules designed around human sleep, as opposed to when the loads got to be there,” says Croke. “When you engineer sleep into a driver’s day, all sorts of good things happen. Well-rested drivers make about 10% more miles per week if they’re taught how to sleep.” Croke was a truck driver in Australia, logging in about two million miles on the road. “When I was in … [Read more...] about What you can learn about sleep from truckers

A monk, a composer, and an industrial designer walk into a bar. No, I’m not making a joke. I’m simply imagining a hypothetical scenario where the cofounders of Headspace, Pandora, and Airbnb decide to meet up for drinks. You may think these figures represent a lonely cohort within tech entrepreneurship. We’re often confronted with the tired (and, as the data shows, largely inaccurate) stereotype of the algorithm-crunching, code-wrangling, Patagonia-wearing startup founder. These characters —who undeniably exist, but are more marginal than perhaps realized—effortlessly straddle the worlds of engineering and business. They’re the full package. Admittedly, these characters also tend to be the most visible. Elon Musk, Bill Gates, Mark Zuckerberg, and Mark Andreessen all have storied engineering careers—and often complex personal and professional lives that inevitably work their way into popular culture. But when we examine the data, we see a different picture. Rather than … [Read more...] about POV: Tomorrow’s founders can’t code—and that’s OK

TAIPEI  -Taiwan’s central bank raised its policy rate on Thursday in a surprise move reflecting concerns about inflation despite recent market turmoil caused by U.S. and European bank failures, which could play into further rate decisions this year. The central bank, in a unanimous decision, raised the benchmark discount rate by 12.5 basis points (bps) to 1.875 percent – the fifth hike since it began the current round of tightening in March last year. Governor Yang Chin-long told a news conference after the meeting that the rate hike was mainly because of inflation concerns and that their monetary policy goal was to maintain the stability of domestic prices. Taiwan’s rate hikes are mild and gradual, and while this move was not what the market expected, the central bank cannot be called hawkish, he added. Asked if this would be the last rate rise this year, Yang said: “The uncertainty is very big, particularly the confidence and contagion effect on the public from the U.S. … [Read more...] about Taiwan central bank unexpectedly raises rates on inflation concerns

Leyte Rep. Richard Gomez. FILE PHOTO MANILA, Philippines — Leyte Rep. Richard Gomez on Thursday said he convinced Speaker Martin Romualdez to support constitutional assembly (con-ass) as the mode of amending the 1987 Constitution. During a press briefing with the Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban) on Thursday, Gomez said he was able to convince Romualdez during a Party Leaders’ meeting on Tuesday. “When we reported to our Speaker, he said yes, kasi ang proseso ng House ‘pag hindi pareho yung hakbang namin, in this case nasa Con-con (constitutional convention) kami, ang Senate con-ass, ‘pag hindi pareho ‘yung lakbay namin magkikita naman sa bicam (bicameral conference), and then sa bicam they will come up with a resolution,” said Gomez when asked if the House would now support con-ass. (When we reported to our Speaker, he said yes, because the House process is if our steps are not the same, in this case, we are in con-con, the Senate con-ass, if the journey … [Read more...] about Gomez says he convinced Romualdez to back con-ass to amend 1987 Constitution

Senate Deputy Minority Leader Risa Hontiveros (Bibo Nueva España/Senate PRIB) MANILA, Philippines — Following the Ombudsman’s decision to place 33 government officials implicated in the Pharmally mess under preventive suspension, Senator Risa Hontiveros said this was merely the beginning on Thursday. The decision validated the Senate blue ribbon committee’s Pharmally probe during the previous administration. READ: Ombudsman suspends 33 execs in Pharmally mess “Bagamat COVID-19 test kits ang saklaw ng Ombudsman order, inaasahan din namin na magbubukas ng imbestigasyon sa isyu ng [personal protective equipments] at iba pang overpriced procurements,” said Hontiveros is a press briefing. (Even if only COVID-19 kits are under the Ombudsman order, we expect the investigation to open issues of personal protective equipment and other overpriced procurements.) “Let justice be served. This investigation is just the beginning,” added Hontiveros. Hontiveros also said that she … [Read more...] about Ombudsman probe into Pharmally fiasco just the beginning — Hontiveros

The headquarters of the Jesus Morning Star (JMS) religious organization in Geumsan, South Chungcheong [JOONGANG PHOTO] Prosecutors and police raided the headquarters of the controversial pseudo-Christian religious organization Jesus Morning Star (JMS) Thursday as part of their investigation into allegations that its leader Jeong Myeong-seok sexually assaulted more female followers. Some 200 investigators from the Chungnam Provincial Police and the Daejeon District Prosecutors’ Office searched the head office of JMS located in Geumsan, South Chungcheong, as well as the houses of Jeong and his accomplice the same day. The search comes after an additional three Korean female followers filed a complaint against Jeong in January for allegedly sexually harassing them and to press additional charges against Jeong as his detention period is set to expire next month. Jeong is currently on trial under detention after he was indicted last October for sexually abusing two female … [Read more...] about JMS headquarters raided as part of sexual assault investigations