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Forbes
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Today’s Top Money Market Account Rates For November 26, 2024 — Rates Move Downward
- The current average money market rate is 0.56%, while the highest rate is up to 5.00%.
- Money market accounts are interest-bearing deposit accounts insured by FDIC or NCUA.
- They offer convenient fund accessibility and higher interest rates compared to regular savings accounts.
- Before opening a money market account, compare options, minimum balance, fees, and APYs.
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Mortgage Refinance Rates Today: November 26, 2024—Rates Cool Off
- The rate on a 30-year fixed refinance slipped today.
- Refinancing rates for a 30-year, fixed-mortgage are averaging 7.31%.
- Currently, the average rate for a 30-year, fixed-rate mortgage refinance is 7.31%.
- Over the life of the loan, the borrower will pay total interest costs of about $147,124.
- The 20-year fixed mortgage refinance is currently averaging about 7.19%.
- At the current interest rate of 7.19%, a 20-year, fixed-rate mortgage refinance of $100,000 would pay $787 per month in principal and interest.
- The 15-year fixed mortgage refinance is currently averaging about 6.34%.
- At the current interest rate of 6.34%, a borrower using a 15-year, fixed-rate mortgage refinance of $100,000 would pay $862 per month in principal and interest.
- Refinance rates are different from mortgage rates and tend to be slightly higher.
- Lenders offer multiple mortgage refinance options to help you quickly compare your potential rate and monthly payment.
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Forbes
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High-Yield Savings Account Rates Today: November 26, 2024 – Rates Are Mixed
- Rates on savings accounts are mixed compared to one week ago.
- The highest yield on a standard savings account with a $2,500 minimum deposit amount within the last week has been 5.84%.
- High-yield savings accounts generally pay substantially more interest than conventional savings accounts.
- Consider factors like minimum deposit, fees, reputation, and safety before choosing a savings account.
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Private Student Loan Rates: November 26, 2024—Loan Rates Rise
- The average interest rate on 10-year fixed-rate private student loans rose by 0.06% to 8.03% last week.
- Borrowers with solid credit can still find relatively low rates.
- Variable interest rates on five-year loans remained at 9.22%.
- Consider federal student loans as the first option due to lower interest rates and more repayment options.
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Forbes
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CD Rates Today: November 26, 2024—Take Home More Than 5%
- CDs—certificates of deposit—offer the best interest rates that range as high as 5.37% today.
- CDs are a kind of savings account with a fixed interest rate for a given term.
- Short-term savings goals, such as three-month CDs, offer a good option for earning high yields.
- The best interest rate currently available on a one-year CD is 5.37%.
- 24-month CDs offer interest rates as high as 4.52%.
- The highest rate on a three-year CD has been 4.65%.
- For a 6-month term, the best rate on jumbo CDs is 5.37%.
- CD rates are rarely the same between any two banks, so you should comparison shop when looking for a new account.
- To open a CD, start by establishing an account with a bank and making a one-time, upfront payment, which constitutes your principal.
- If you want the best interest rate on your savings, CDs are usually your best bet, outpacing even the best high-yield savings accounts and best money market accounts.
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HRKatha
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Yash Mohan will head HR for Wells Fargo, India and Philippines
- Yash Mohan has been appointed as the head of human resources for Wells Fargo in India and the Philippines.
- Mohan has more than 22 years of experience in global human resources across various industries.
- He previously worked at BNY for over 15 years and held various HR leadership positions during his tenure.
- Mohan expressed his excitement to work with the Wells Fargo team and contribute to growth, connection, and innovation.
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Forbes
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Buyer’s Agent Commissions Hold Steady Despite Recent Real Estate Industry Shift
- Buyer's agent commissions have remained stable despite the antitrust suits against the National Association of Realtors (NAR) that home sellers filed in 2019. Early findings reveal that the average buyer's commission was 2.34% as of October 1, 2024, according to a discount real estate brokerage Redfin.
- Before the change, the typical commission ranged from 5% to 6% of a home's sale price, with the buyer's agent traditionally receiving a portion of the listing agent's total commission. But the new settlement rule now prohibits broker compensation offers being included on the Multiple Listing Services (MLS).
- Despite the modest overall decrease in commission rates between August and October 2024, many buyer agents fear these changes could negatively affect their earnings. Commissions have already been trending downward years before the settlement rules took effect.
- Buyer agents working with homes priced under $500k experienced an average commission increase from 2.41% to 2.43%. In contrast, for homes above $1m, the average commission fell from 2.24% to 2.11%.
- The new rules prompt agents to reinforce the practices they already have in place, with many being transparent with their clients for years. The greater transparency around negotiating commissions has actually helped to increase commissions since the new rules went into effect.
- Many buyers are now more aware that commissions are negotiable, allowing for open conversations about the level of service they're receiving. However, the real estate industry is watching closely to see if these initial trends hold.
- The National Association of Realtors (NAR) agreed to pay $418m to settle a series of high-profile antitrust lawsuits filed in 2019 on behalf of home sellers. The settlement is subject to final court approval, with a final hearing scheduled for November 26, 2024.
- The lawsuit plaintiffs contended that commission offers on the MLS were part of a collusion scheme to maximize the earnings of real estate agents. They argued that selling homes required buyers to pay broker commissions that added hefty amounts to the sellers' costs.
- NAR denies any wrongdoing related to the MLS cooperative compensation model rule targeted by the litigation. The organization has pointed out that commissions have always been negotiable.
- With buyers now more aware that commissions are negotiable, it's important to keep these strategies in mind when shopping for a home.
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HRKatha
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Allahabad HC upholds govt decision on deputy collector appointment
- The Allahabad High Court has dismissed a petition challenging the Uttar Pradesh government’s decision to deny the appointment of Vishal Saraswat as deputy collector in the Provincial Civil Services (Executive).
- Saraswat, currently serving in the Indian Defence Estates Service as chief executive officer of the Roorkee Cantonment Board, had successfully cleared the Combined State & Upper Subordinate Service Examination, 2019.
- The Court upheld the state government’s discretion to assess the suitability of candidates for sensitive roles, emphasizing the higher standard of scrutiny required for the position of deputy collector.
- The High Court supported the state government’s stand, stating that public employers are not obligated to align their decisions with those of other employers in similar cases.
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HRKatha
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The age of surveillance: Are we creating a workplace dystopia?
- Remote work was heralded as a revolution—a promise of freedom and flexibility, a balancing act between personal lives and professional excellence. But as the pandemic catapulted millions into working from home, a quiet transformation began.
- In their quest for productivity, companies have turned to invasive technologies that track every keystroke, mouse movement, and idle moment. The so-called ‘Big Four’ and countless other organisations now deploy AI-powered systems that flag typing speed, monitor browser activity, and even alert managers when an employee appears ‘unproductive’.
- Faced with unrelenting scrutiny, employees have turned to ingenious hacks. Enter the undetectable mouse jiggler—a physical device designed to simulate activity by periodically moving the mouse, making it appear as though the user is engaged in work. It’s ironic, almost laughable, that such devices even exist.
- Here’s the fundamental flaw in this approach: Presence, whether physical or digital, is not productivity. Sitting at a desk and frantically moving a mouse doesn’t guarantee great ideas or meaningful results.
- Surveillance comes at a steep price—one that employers often fail to account for. According to a Glassdoor survey of 2,300 professionals in the U.S., 41 per cent reported feeling less productive when they knew their work devices were being monitored.
- The critical flaw in the surveillance approach is its false equivalence between activity and productivity. Productivity is not about keystrokes or hours logged into a system; it’s about outcomes. Results, not rigid adherence to metrics, should be the yardstick by which performance is measured.
- The rise of hybrid work offers an unparalleled opportunity to redefine how we work. Instead of doubling down on dystopian surveillance, organisations must focus on creating environments that empower employees to thrive.
- Clear expectations and transparent communication, not invasive monitoring, should guide remote teams. Employees are adults—professionals who can manage their responsibilities when treated with respect.
- It’s time for a new vision of work—one where dignity and collaboration replace suspicion and control. Employers must ask themselves: are they building workplaces that inspire, or ones that terrify?
- Employers, take note: The choice is clear. You can either create a culture of fear or a culture of trust. The latter will always win—not just for your employees, but for your bottom line.
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Nordicapis
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Banking on APIs: The Future of the Finance Sector
- The finance sector is leading from the front in adopting new technologies, particularly APIs.
- Open banking initiatives have streamlined credit scoring, advanced AML techniques, and introduced real-time trading.
- Businesses save time on operational tasks through open banking initiatives.
- APIs have revolutionized payments, transactions, trading, AML efforts, credit scoring, and the customer experience.
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HRKatha
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Macy’s earnings delay linked to single employee’s actions
- Macy’s has postponed its earnings release due to an accounting issue involving delivery expenses.
- An employee concealed $132 million to $154 million in delivery costs.
- The company uncovered the issue during an independent review.
- Despite the delay, Macy’s reported a decline in sales and plans to close underperforming locations.
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HRKatha
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How the British government wants to “get Britain working again”
- The Department for Work and Pensions (DWP) of Britain has published the ‘Get Britain Working’ white paper comprising various reforms pertaining to employment support aimed at achieving 80 per cent employment rate.
- The white paper seeks to ensure that everyone, irrespective of their age, rank, health and so on is able to earn a livelihood. Plans have been outlined to expand mental-health support and tackle obesity.
- Job centres are likely to be replaced by a new National Jobs and Careers Service. More employment and training opportunities will be provided for the youth under the Youth Guarantee initiative.
- Measures will be taken to support employers to hire people with disabilities and health conditions.
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Chinese Court awards 3,50,000 Yuan to manager fired for sleeping on duty
- A court in Jiangsu province, China ruled in favor of an employee who was dismissed for sleeping on the job.
- The court awarded the employee 3,50,000 yuan in compensation.
- The court found that the dismissal was unjustified and unreasonable.
- The ruling highlights the importance of proportionality in disciplinary actions.
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HRKatha
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Wipro elevates Omkar Nisal to CEO, Europe Strategic Market Unit
- Wipro has promoted Omkar Nisal to the role of CEO, Europe Strategic Market Unit.
- Nisal, who has been with Wipro since 2012, has a strong background in technology and extensive experience in the banking sector.
- He will be responsible for leading Wipro's growth and expansion plans in the European market.
- Nisal is known for his strategic vision and customer-centric approach, which will contribute to building a resilient and adaptable organization.
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HRKatha
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How CEAT Tyres is working towards 25% gender diversity by 2025
- CEAT Tyres, a part of the RPG Group, is striving to achieve 25% gender diversity by 2025.
- The initiative focuses on empowering women to lead and succeed in unconventional roles.
- CEAT has launched programs like Women Mentoring and Women Accelerator to bridge gaps and empower women.
- Inclusive policies and practical measures are implemented to create a supportive and diverse workplace.
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