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Tory Newmyer

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Washington, D.C.
As seen in: The Washington Post, CNN, O Globo, MSN (US), Yahoo News, SFGate, Sydney Morning Herald, Chicago Tribune, Fortune, Infobae, NDTV and
Covering financial services and economic policy for the Washington Post || @washingtonpost
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The racial homeownership gap is widening. New rules might make it worse.

Dec 15, 2023 |
By Tory Newmyer 
| Philadelphia Tribune
Marsheila Caldwell wants to celebrate her upcoming 50th birthday by buying a home in a neighborhood safe enough for her 11-year-old son to play outside. The Cincinnati social worker is gearing up to restart a search she had abandoned out of frustration three times in recent years because she couldn’t find an affordable house that met her needs. But she also knows the market has only gotten more difficult, with home prices hitting record levels and interest rates hovering at two-decade highs.
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Mortgage rates drop below 7 percent as home-buying pressures ease

Dec 14, 2023 |
By Tory Newmyer 
| The Spokesman-Review
Aspiring home buyers grappling with the most difficult housing market in nearly 40 years are finally seeing some relief. Borrowing costs for 30-year fixed-rate mortgages dropped below 7% this week for the first time in four months, according to the housing-finance giant Freddie Mac on Thursday. Just six weeks ago, the average rate for those home loans peaked at 7.8%, a high not seen since 2000; now it stands at 6.95%. Pressure on the battered real estate market look poised to ease further.
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Mortgage rates drop below 7 percent as home-buying pressures ease

Dec 14, 2023 |
By Tory Newmyer 
| SFGate
Aspiring home buyers grappling with the most difficult housing market in nearly 40 years are finally seeing some relief. Borrowing costs for 30-year fixed-rate mortgages dropped below 7 percent this week for the first time in four months, according to the housing-finance giant Freddie Mac on Thursday. Just six weeks ago, the average rate for those home loans peaked at 7.8 percent, a high not seen since 2000; now it stands at 6.95 percent.
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Mortgage rates drop below 7 percent as home-buying pressures ease

Dec 14, 2023 |
By Tory Newmyer 
| The Washington Post
CommentSaveAspiring home buyers grappling with the most difficult housing market in nearly 40 years are finally seeing some relief. Borrowing costs for 30-year fixed-rate mortgages dropped below 7 percent for the first time in four months this week, according to housing-finance giant Freddie Mac on Thursday. Just six weeks ago, the average rate for those home loans peaked at 7.8 percent, a high not seen since 2000; now it stands at 6.95 percent.
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The racial homeownership gap is widening. New rules might make it worse.

Dec 13, 2023 |
By Tory Newmyer 
| Sun Journal (Lewiston, ME)
Marsheila Caldwell wants to celebrate her upcoming 50th birthday by buying a home in a neighborhood safe enough for her 11-year-old son to play outside. The Cincinnati social worker is gearing up to restart a search she had abandoned out of frustration three times in recent years because she couldn’t find an affordable house that met her needs. But she also knows the market has only gotten more difficult, with home prices hitting record levels and interest rates hovering at two-decade highs.
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The racial home ownership gap is widening. New rules might make it worse.

Dec 13, 2023 |
By Tory Newmyer 
| The Boston Globe
For Caldwell, finding an affordable house that meets her needs has been a challenge.Madeleine Hordinski/for The Washington PostFinding a home she can afford could get harder if regulators get their way. An unusual alliance of big banks and some housing affordability advocates is arguing that a proposal meant to boost the financial stability of banks would make mortgages more expensive for cash-poor home buyers - disproportionately people of color.
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The racial homeownership gap is widening. New rules might make it worse.

Dec 13, 2023 |
By Tory Newmyer 
| The Portland Press Herald/Maine Sunday Telegram
Marsheila Caldwell wants to celebrate her upcoming 50th birthday by buying a home in a neighborhood safe enough for her 11-year-old son to play outside. The Cincinnati social worker is gearing up to restart a search she had abandoned out of frustration three times in recent years because she couldn’t find an affordable house that met her needs. But she also knows the market has only gotten more difficult, with home prices hitting record levels and interest rates hovering at two-decade highs.
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The racial homeownership gap is widening. New rules might make it worse.

Dec 07, 2023 |
By Tory Newmyer 
| The Washington Post
Banks are facing tougher capital requirements -- which will probably make mortgages pricier for cash-poor buyersDecember 7, 2023 at 6:00 a.m. ESTMarsheila Caldwell, 49, decorates the family Christmas tree with sons DaySean Sims, 22, and DeAngelo Caldwell, 11, in their apartment in Cincinnati on Saturday.
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Who made millions trading the October 7 attacks?

Dec 05, 2023 |
By Andrew Jeong , Tory Newmyer , Eli Tan 
| Australian Financial Review
“The short selling that day far exceeded the short selling that occurred during numerous other periods of crisis, including the recession following the financial crisis, the 2014 Israel-Gaza war, and the COVID-19 pandemic,” Professors Jackson and Mitts wrote. In one instance, investors short-sold the unusually high sum of 4.43 million new shares of Bank Leumi, an Israeli bank, on the Tel Aviv Stock Exchange in the September 14-October 5 period, the pair wrote.
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Traders earned millions anticipating Oct. 7 Hamas attack, study says

Dec 05, 2023 |
By Andrew Jeong , Tory Newmyer 
| New Hampshire Union Leader
Israeli regulators are looking into a report claiming that investors earned millions of dollars by short-selling Israeli stocks days ahead of Hamas's Oct. 7 attack, apparently profiting off foreknowledge of the bloody incursion, multiple media outlets reported Tuesday. The unknown traders behind the activity placed bets against the value of a bundle of Israeli stocks five days before the massacre, leading to a "significant spike in short selling" of that fund, professors Robert J.
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Traders earned millions anticipating Oct. 7 Hamas attack, study says

Dec 05, 2023 |
By Andrew Jeong , Tory Newmyer , Eli Tan 
| The Washington Post
CommentSaveIsraeli regulators are looking into a report claiming that investors earned millions of dollars by short-selling Israeli stocks days ahead of Hamas’s Oct. 7 attack, apparently profiting off foreknowledge of the bloody incursion, multiple media outlets reported Tuesday. Skip to end of carouselIsrael-Gaza warAn estimated 100,000 Palestinians have fled to the crowded southern Gaza city of Rafah in recent days, the U.N. humanitarian agency said.
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Consumers tighten spending habits ahead of holiday shopping season

Nov 18, 2023 |
By Tory Newmyer 
| The Portland Press Herald/Maine Sunday Telegram
Consumers are in a cautious mood heading into the holiday shopping season, moderating their spending in the face of higher prices and costlier credit, signaling a likely downshift in the engine of the U.S. economy. Major retailers say their customers over the last three months have pulled back from high-ticket purchases, focused on essentials, and held out for deals – a shift that industry executives and observers expect to persist into the busiest shopping period of the year.
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Downshift in economy slows retail spending ahead of holiday season

Nov 18, 2023 |
By Tory Newmyer 
| The Washington Post
CommentSaveConsumers are in a cautious mood heading into the holiday shopping season, moderating their spending in the face of higher prices and costlier credit, signaling a likely downshift in the engine of the U.S. economy. Major retailers say their customers over the last three months have pulled back from high-ticket purchases, focused on essentials and held out for deals — a shift that industry executives and observers expect to persist into the busiest shopping period of the year.
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Bankman-Fried’s parents could face their own legal perils, experts say

Nov 11, 2023 |
By Tory Newmyer 
| NewsBreak
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Bankman-Fried’s parents could face their own legal perils, experts say

Nov 11, 2023 |
By Tory Newmyer , Eli Tan 
| The Washington Post
CommentSaveSam Bankman-Fried’s parents spent many of their waking hours in October seated on a wooden bench in a Manhattan courtroom, a few feet behind the former cryptocurrency mogul, watching as federal prosecutors convinced a jury their son had orchestrated one of the biggest financial frauds in history.
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Former crypto mogul convicted on all charges

Nov 03, 2023 |
By Tory Newmyer 
| Telegraph-Journal
Sam Bankman-Fried in a screenshot of a video-call of during the MIT Bitcoin Expo 2022. A jury convicted the FTX co-founder of fraud, conspiracy and money laundering on Thursday. Photo: Wikimedia Commons
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Bankman-Fried convicted on all charges after weeks-long criminal trial

Nov 02, 2023 |
By Eli Tan , Tory Newmyer 
| The Spokesman-Review
NEW YORK — A jury on Thursday convicted FTX co-founder Sam Bankman-Fried of fraud, conspiracy and money laundering, the culmination of a monthlong trial that saw the former crypto mogul take the stand in his own defense after his inner circle of friends-turned-deputies provided damning testimony against him.
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Bankman-Fried convicted on all charges after weeks-long criminal trial

Nov 02, 2023 |
By Eli Tan , Tory Newmyer 
| The Washington Post
CommentSaveNEW YORK — A jury on Thursday convicted FTX co-founder Sam Bankman-Fried of fraud, conspiracy and money laundering, the culmination of a month-long trial that saw the former crypto mogul take the stand in his own defense after his inner circle of friends-turned-deputies provided damning testimony against him.
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Bankman-Fried lied to you, prosecutor tells jurors in closing argument

Nov 01, 2023 |
By Tory Newmyer , Eli Tan 
| The Washington Post
CommentSaveFederal prosecutors went back to basics Wednesday as they made their closing argument to the jurors who will decide the fate of fallen crypto mogul Sam Bankman-Fried. After weeks of testimony that took detours into lines of computer code and the arcana of digital finance, Assistant U.S. Attorney Nicolas Roos told jurors sifting through the rubble of a multibillion-dollar crypto collapse to focus on three simple questions: where the money went, what happened, and who is to blame.
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The defense rests in Sam Bankman-Fried criminal trial

Oct 31, 2023 |
By Eli Tan , Tory Newmyer 
| The Boston Globe
NEW YORK — In his final hours testifying at his criminal fraud trial Tuesday, Sam Bankman-Fried faced the prosecution’s grilling with a straightforward defense: He may have been too disengaged as a boss but was no fraudster. The former crypto mogul wrapped up his risky gambit testifying in his defense by insisting he did not know about the alleged fraud at the core of the government’s case against him until last fall, just two months before his business empire collapsed.
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The defense rests in Sam Bankman-Fried criminal trial

Oct 31, 2023 |
By Eli Tan , Tory Newmyer 
| The Washington Post
CommentSaveNEW YORK — In his final hours testifying at his own criminal fraud trial Tuesday, Sam Bankman-Fried faced the prosecution’s grilling with astraightforward defense: He may have been too disengaged as a boss but was no fraudster. The former crypto mogul wrapped up his risky gambit testifying in his own defense by insisting he did not know about the alleged fraud at the core of the government’s case against him until last fall, just two months before his business empire collapsed.
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Under prosecution’s fire, Sam Bankman-Fried brushes off past comments

Oct 30, 2023 |
By Eli Tan , Tory Newmyer 
| The Boston Globe
NEW YORK — As his cryptocurrency empire rapidly expanded, right up until its collapse nearly a year ago, former crypto mogul Sam Bankman-Fried made a point of publicly reassuring customers their funds were in safe hands. On Monday, those statements came back to haunt him as he faced the prosecution’s cross-examination in what could be the most consequential moment of his criminal trial, now in its homestretch.
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Bankman-Fried blames others, defends spending and draws judge's ire

Oct 30, 2023 |
By Eli Tan , Tory Newmyer 
| SFGate
Correction: A previous version of this article incorrectly stated that Sam Bankman-Fried was the only witness called by the defense. He was the last of three witnesses. The article has been corrected.
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Under prosecution's fire, Sam Bankman-Fried brushes off past comments

Oct 30, 2023 |
By Eli Tan , Tory Newmyer 
| SFGate
NEW YORK - As his cryptocurrency empire rapidly expanded, right up until its collapse nearly a year ago, former crypto mogul Sam Bankman-Fried made a point of publicly reassuring customers their funds were in safe hands. On Monday, those statements came back to haunt him as he faced the prosecution's cross-examination in what could be the most consequential moment of his criminal trial, now in its homestretch.
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