Nascar's Ricky Stenhouse Jr. Sells Equestrian Estate for a Record $12.2 Million
Race-car driver Ricky Stenhouse Jr. has sold a roughly 140-acre equestrian estate near Charlotte, N.C., for $12.2 million, a record for the area and more than triple what he paid for it 12 years ago.
Stenhouse, who won the Daytona 500 in 2023, paid $3.8 million in 2013 for the Mooresville, N.C., property near Lake Norman, property records show.
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Wall Street Journal
an hour ago
- Wall Street Journal
Mortgage Rates Today, June 20, 2025: 30-Year Rates Drop to 6.82%
Mortgage rates are down and still under 7%. Today's national average on a 30-year fixed-rate mortgage is 6.82%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 6.00%. Interest rates for new mortgages and refinances continue to hover near 7%, contributing to a stifling summer for the economy. The labor market appears to have stalled, with many companies opting not to fill open positions. At the same time, rising costs have put pressure on consumer spending, contributing to a weak real estate market during the spring and summer. These risks have many business owners hunkering down for an uneasy few months ahead. The economic uncertainty has some analysts making the case that it's time for the Fed to cut interest rates, but Fed officials kept rates unchanged at their June meeting. The policymakers held the federal-funds rate to a range of 4.25% to 4.50%, but indicated that rate cuts might be possible later in the year. Future cuts will depend on whether the jobs market weakens significantly or it becomes more evident that prices won't spike due to tariffs. 'There are many, many different scenarios…where inflation does or doesn't prove out to be at the levels we think, where the labor market does or doesn't soften,' Federal Reserve Chair Jerome Powell told reporters. Top mortgage rates today Current mortgage rates are down and lower than they were seven days ago but lower than in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn't directly impact today's mortgage rates, they have been easing since the Fed began cutting rates in late 2024. Mortgage rates change regularly, so compare offers and consider the personal and market factors that influence your quoted mortgage rate. Term Today's average mortgage rate Last week's average mortgage rate Average mortgage rate change 30-year fixed 6.82% 6.87% -0.05% 15-year fixed 6.00% 6.04% -0.04% 5/1 ARM 6.15% 6.26% -0.11 30-year fixed jumbo 6.89% 6.92% -0.03 Source: Data reflects interest rates, not APRs. Term Today's average mortgage rate Last week's average mortgage rate Average mortgage rate change 30-year fixed 6.79% 6.83% -0.04% 15-year fixed 6.11% 6.14% -0.03% 30-year fixed jumbo 6.77% 6.69% -0.08% Source: Data reflects interest rates, not APRs. During the last three years, mortgage rates have been on the rise. In early 2022, the average 30-year fixed rate was 4.72% and the 15-year fixed rate was 3.91%. Rates reached a recent peak in late 2023 at 7.79% for 30-year fixed-rate mortgages and 7.03% for 15-year fixed-rate mortgages. Since then, rates have fallen as far as 6.08% (30-year fixed) and 5.15% (15-year fixed), but then began moving higher again. While these rates represent relatively recent heights for mortgage rates, average 30-year rates peaked above 16% in the early 1980s. The lowest-ever 30-year fixed rate, slightly below 3%, appeared in 2021. Today's mortgage rates are influenced by economic and market conditions, as well as personal factors. The rate you're quoted by a lender might be higher or lower than the national average. Here are some of the items considered when calculating your mortgage rate: 10-year Treasury yield: Current mortgage rates, especially on a 30-year fixed-rate mortgage, are related to movements in the 10-year Treasury yield. Current mortgage rates, especially on a 30-year fixed-rate mortgage, are related to movements in the 10-year Treasury yield. Mortgage-backed securities: The rate investors earn on mortgage-backed securities also plays a role. Spreads between mortgage-backed securities and Treasury yields, as well as between what lenders offer borrowers and mortgage-backed security rates, impact current mortgage rates. The rate investors earn on mortgage-backed securities also plays a role. Spreads between mortgage-backed securities and Treasury yields, as well as between what lenders offer borrowers and mortgage-backed security rates, impact current mortgage rates. Investor sentiment: Perceptions about fiscal policy and economic conditions can affect how Treasuries move, as well as how much risk lenders feel comfortable taking on. Perceptions about fiscal policy and economic conditions can affect how Treasuries move, as well as how much risk lenders feel comfortable taking on. Personal credit history: The information in your credit report and your credit score influence your mortgage rate quote. The information in your credit report and your credit score influence your mortgage rate quote. Income: Lenders look at your income relative to your potential mortgage payment and other debts you have. If it appears you can handle your mortgage payments with relative ease, they feel more comfortable lending you money. Lenders look at your income relative to your potential mortgage payment and other debts you have. If it appears you can handle your mortgage payments with relative ease, they feel more comfortable lending you money. Down payment: Your mortgage rate might be lower if you make a larger down payment; often, the best results are when you put at least 20% down. Your mortgage rate might be lower if you make a larger down payment; often, the best results are when you put at least 20% down. Points paid: Mortgage points, also known as discount points, are fees paid upfront as a way to directly reduce your rate and lower your monthly payments. Each point, which represents 1% of your loan amount, can potentially reduce your rate by up to 0.25 percentage points. Mortgage points, also known as discount points, are fees paid upfront as a way to directly reduce your rate and lower your monthly payments. Each point, which represents 1% of your loan amount, can potentially reduce your rate by up to 0.25 percentage points. Loan term: A 15-year mortgage rate is usually lower than a 30-year rate. By choosing a shorter term, you might be able to get a lower interest rate, but your monthly payment might be higher. How to choose the right mortgage for your financial goals When considering a mortgage, review your financial situation and goals. Often, 30-year fixed-rate mortgages are chosen because they spread a large payment over a longer period of time, making monthly payments more affordable. Even though the loan costs more overall, it might be more affordable on a day-to-day basis. If your main concern is becoming debt-free sooner while paying less interest and you can afford a higher monthly payment, a shorter-term loan might make sense. Let's say you get a $350,000 loan. Here's what you might pay with different mortgage terms: 30-year loan (6.97%): Monthly payment of $2,321.51 and total interest amount of $485,744.05 Monthly payment of $2,321.51 and total interest amount of $485,744.05 20-year loan (6.74%): Monthly payment of $2,659.19 and total interest amount of $288,206.46 Monthly payment of $2,659.19 and total interest amount of $288,206.46 15-year loan (6.20%): Monthly payment of $2,991.45 and total interest amount of $188,461.10 Monthly payment of $2,991.45 and total interest amount of $188,461.10 10-year loan (6.16%): Monthly payment of $3,913.90 and total interest amount of $119,667.88 These scenarios don't include other costs, like insurance and property taxes, that you might also be subject to. It's important to consider those costs as well. For example, you might think you can afford the payments on a 20-year or 15-year mortgage, but once you add in other homeownership costs, your budget might feel tight. Don't forget other homeownership costs that might impact your monthly budget, including maintenance, repairs, utilities and other expenses that might be higher once you move into a house. When choosing a mortgage, the principal and interest payments aren't the only considerations. One strategy might be to choose a longer loan, but make extra payments to pay down the debt faster and reduce the amount of interest you pay. With this approach, you can choose to pay extra each month, but if you need to cut back due to emergency, you can revert to the required lower monthly payment with a lower risk of not being able to meet the obligation. If you lock into a shorter loan term with a higher payment, you can't scale back payments later without risking the loss of the home.
Yahoo
an hour ago
- Yahoo
How Much Would It Take To Earn $100 A Month From Arbor Realty Stock
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Arbor Realty Trust Inc. (NYSE:ABR) invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental, and commercial real estate markets in the U.S. The 52-week range of Arbor Realty stock price was $8.43 to $15.94. Arbor Realty's dividend yield is 11.60%. It paid $1.20 per share in dividends during the last 12 months. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can On May 2, the company announced its Q1 2025 earnings, posting adjusted EPS of $0.31, beating the consensus estimate of $0.27, while revenues of $75.44 million came in below the consensus of $77.17 million, as reported by Benzinga. If you want to make $100 per month — $1,200 annually — from Arbor Realty dividends, your investment value needs to be approximately $10,345, which is around 999 shares at $10.36 each. Understanding the dividend yield calculations: When making an estimate, you need two key variables — the desired annual income ($1,200) and the dividend yield (11.60% in this case). So, $1,200 / 0.116 = $10,345 to generate an income of $100 per month. You can calculate the dividend yield by dividing the annual dividend payments by the current price of the stock. Trending: Invest Where It Hurts — And Help Millions Heal: The dividend yield can change over time. This is the outcome of fluctuating stock prices and dividend payments on a rolling basis. For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40). In summary, income-focused investors may find Arbor Realty stock an attractive option for making a steady income of $100 per month by owning 999 shares of stock. Check out this article by Benzinga for three stocks offering high dividend yields. Read Next: , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Maximize saving for your retirement and cut down on taxes: . Image: Shutterstock This article How Much Would It Take To Earn $100 A Month From Arbor Realty Stock originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
New York Times
an hour ago
- New York Times
‘Prewar Eva' Has Her Finger on the Pulse of the Hamptons
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