For first time since 2022, average long-term mortgage rate dips below 6%
The latest dip, its third decline in a row, brings it closer to its lowest level since Sept. 8, 2022, when it was 5.89%.
Banking & Finance
-
IBJ Podcast: Pete the Planner answers, ‘Stocks are at all-time highs, so why am I terrified?’
Peter Dunn and host Mason King explore the gap between positive economic news on the macro level and the pessimism many consumers are feeling about their personal finances.
Read More -
IBJ Podcast: ‘I joke that I went from selling paper money to toilet paper,’ former banker says
In this encore edition of the IBJ Podcast: Something was missing from her career as a commercial lender, and Cindy Schum found it in a small firm that sold janitorial and cleaning supplies.
Read More -
Why investing in a Trump Account could complicate your taxes
Under the terms of the One Big Beautiful Bill law that created it, the federal government will seed each Trump Account with $1,000 for every U.S. citizen born from 2025 through 2028.
Read More -
IBJ Podcast: Pete the Planner on whether buying a home is always a smart investment
It’s not at all necessary to get started right away, and there’s a navigable path for renters in the 40s to end up in a very comfortable situation by retirement.
Read More
Articles
Indy investment firm sues ex-employees, alleges they solicited clients, stole trade secrets
The company accuses the employees of converting confidential business records, such as client information, for personal use and transmitting client information to their new employer.
Trump administration considers requiring banks to collect citizenship information
Bank executives fear the potential new documentation requirements would create new impediments to obtaining financial services in the United States.
Fed’s Waller says rate cut in March is ‘coin flip’ following strong US jobs report
Federal Reserve governor Christopher Waller also said that the Supreme Court’s decision to strike down many of Trump’s tariffs would likely have only a limited impact on the economy and inflation, and therefore wouldn’t affect his view on rates.
Q&A with Periculum Capital: Why is dealmaking activity so high?
Over the past two months Carmel-based Periculum Capital has been involved in six business deals — about as many as it typically sees in an entire year.
State tackles penny-rounding policies amid national shortage
Indiana lawmakers are crafting statewide penny-rounding policies as Hoosier retailers struggle through a shortage of the discontinued coin — but admit it needs more work.
Senate committee discusses cryptocurrency options for state pension funds
An Indiana House bill would let state pension funds offer users the chance to invest in cryptocurrency exchange funds. Legislators also heard testimony on virtual currency kiosks and what can be done to prevent scams
Trump’s choice of Warsh to lead Fed could reshape the world’s most influential central bank
Whether Kevin Warsh can maintain the Fed’s long-time independence from day-to-day politics while also placating Trump will be a tremendous challenge.
Federal Reserve keeps interest rates unchanged even as Trump continues to press for lower rates
The central bank said there are signs the job market has stabilized while it also said growth was “solid,” an upgrade from last month’s characterization as “modest.”
Trump sues JPMorgan for $5 billion, alleges bank closed his accounts for political reasons
The lawsuit, filed in Miami-Dade County court in Florida, alleges that JPMorgan abruptly closed multiple accounts in February 2021 with just 60 days notice and no explanation.
Guilty plea made in Ponzi scheme that bilked investors of $380M
Drive Planning operated an office in Fishers that was overseen by former managing partner Gerardo Linarducci, who is facing civil fraud charges from the U.S. Securities and Exchange Commission and multiple lawsuits from investors.
Heartland Ventures launches $60M investment fund
Heartland’s investors are established Midwestern companies—businesses such as manufacturers, construction firms, logistics providers and real estate firms—and it makes investments into early-stage industrial technology startups with products that could benefit those investors.
KSM accounting firm establishes investment banking business with acquisition
Katz Sapper & Miller, the largest accounting firm in Indianapolis, has acquired the investment banking business of Grand Rapids, Michigan-based Charter Capital Partners, it announced Tuesday.
As Trump’s deadline for a cap on credit card rates looms, banks have only questions and no answers
So far, the White House has not provided any detail about what will happen to credit card companies that don’t lower card rates.
Wall Street pulls back from its records as JPMorgan Chase and Delta kick off earnings season
U.S. companies are under pressure to deliver strong growth in profits to justify the runs to records their stock prices have made.
Brownsburg-based State Bank names new CEO
Brownsburg-based State Bank has a new CEO following the Dec. 31 retirement of longtime executive Mike Baker.
A powerful force has been holding back the housing market. It’s finally easing.
The housing market recently crossed a noteworthy line: There are now more Americans with mortgage rates higher than 6% than below 3%.
Boonville bank sues state depositor insurance fund
A small bank in southwestern Indiana claims that it and other financial institutions around the state are owed a combined hundreds of millions of dollars that are held in a state-run bank deposit insurance fund.
Rollin Dick remembered for ‘lasting impact’ on local community
Former insurance executive, business investor and philanthropist Rollin “Rollie” Dick died Jan. 3 at age 94.
Investment firm targets ultra wealthy for growth
As of Dec. 5, Sapient Capital LLC had $13.3 billion in assets under management—the total value of assets a firm manages for its clients—and it’s working to more than double that figure in the foreseeable future.