$290 Million Settlement, Mortgage Rate Drop, Robinhood See's 68% Decrease

- crypto takes a hit in 2023                                                                                                                                                                                                                                                                                                                                                                                                                 June 12, 2023 | [Read Online]( Check this out: - Trend Tracker - Up To Date News and Trends On The Stock Market 📈 - Hot or Not? - All Your Real Estate Needs 🏠- Crypto Chronicles - Basically the Avengers of Crypto! How Cool Is That? 🦸‍♂️ - Money Moves - Who doesn’t wanting to be making money moves? Latest on your Personal Finance. 📈 Trend Tracker [US stocks opened the week with gains]( as the S&P 500, Dow Jones, and Nasdaq rose by 0.3%, 0.2%, and 0.4% respectively. This comes ahead of key economic data releases on inflation and consumer spending, along with the Federal Reserve's decision on Wednesday. [JPMorgan Chase has reached a $290 million tentative settlement]( with victims of Jeffrey Epstein, addressing allegations that the bank ignored warnings about its client's alleged sex trafficking. The settlement is subject to court approval and does not entail an admission of liability. JPMorgan still faces legal action from the US Virgin Islands government. [Americans' expectations for inflation in a year dropped]( to the lowest level in two years, despite anticipating challenging financial times ahead. However, there was a mixed outlook on inflation for three and five years from now. The survey also revealed lower expectations for food, rent, medical, and college costs, while home prices continued to rise. The projected increase in gasoline prices remained stable. The report coincides with an upcoming policy meeting where central bankers are expected to refrain from raising rates for the first time since initiating their tightening campaign last year. 🏠Hot or Not? [A dire housing shortage in the US has made it difficult for homebuyers]( to find affordable, move-in ready homes in desirable locations. Less than a quarter of the 1.1 million home listings are within reach of the average American household. The shortage is most severe for middle-income buyers, with the largest gap in affordable homes for this group. Even those earning $100,000 can only afford a small portion of the available homes, and high mortgage rates add to the affordability challenge. The problem is particularly pronounced for people of color. In expensive metropolitan areas like San Jose and Oxnard in California, only a tiny percentage of homes are affordable for middle-income buyers. On the other hand, buyers on a budget have more options in the Rust Belt and Deep South regions, where a larger proportion of homes are priced within reach. [Mortgage rates have finally dropped after several weeks of increases.]( Home price growth has also slowed, with listing prices only slightly higher than last year. However, affordability remains a challenge, pushing buyers to seek bargains. Sellers are hesitant due to higher mortgage rates, leading to a decline in new listings. Homes are taking longer to sell, but buyers may find opportunities in overlooked listings. [realtor.com]( Crypto Chronicles 💥 [Major altcoins like Cardano (ADA), Solana (SOL), BNB (BNB), and Cosmos (ATOM)]( are seeing a significant decline following their classification as securities by the US Securities and Exchange Commission. However, meme coins continue to generate hype. DEX Tools highlights the current popular cryptocurrencies. [Robinhood reported a 68% decrease in crypto trading]( compared to the previous year, with May 2023 seeing trading close to $2.1 billion, down from $6.6 billion. The drop of 43% month to month was attributed to Robinhood delisting Cardano, Polygon, and Solana following charges against Binance and Coinbase by the SEC. SEC Chair Gary Gensler emphasized the need for crypto firms to register with the agency, while Coinbase claimed to have been dismissed by the SEC without a response or counter proposal. [Bitcoin and Ethereum face a turbulent market as risk aversion triggers a 7%]( sell-off. Amid the downturn, A16z Crypto opens a London office, emphasizing the importance of regulatory clarity. Meanwhile, Turkish investors turn to Tether as the lira depreciates, and former SEC chairman Jay Clayton advocates for nuanced cryptocurrency regulation. 💸 Money Moves 💰 [The Federal Reserve may pause]( its interest rate hiking campaign. What that means for you [At a time when most Americans are living paycheck to paycheck](, the ‘quiet luxury’ trend takes over You got it! Alright, financial mavericks, it's time to wrap up today's discussion. But fear not, we can keep the conversation going like the true money mavericks we are. Share Financial Maverick Calling all Financial Mavericks! To help out a family and friend in need by sharing this newsletter. Tell you what if you ever wanted to be a Hero, Financial Guru, or a Nice Person this is your time! [Click to Share](https:?utm_source=financialmaverick.beehiiv.com&utm_medium=newsletter&utm_campaign=290-million-settlement-mortgage-rate-drop-robinhood-see-s-68-decrease) Did today's newsletter hit the spot? 😉 - [Heck Yeah! Money Moves!]( - [Nah! Was More like Financial Dumpster]( DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.  [fb]( [tw]( [ig]( Update your email preferences or unsubscribe [here]( © Financial Maverick 19354 Watermark Drive, Suite 202 Cornelius, North Carolina 28031, United States [[beehiiv logo]Powered by beehiiv](