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July 11, 2019

Crypto

The United States and Thailand Have Become Leaders In Booking Hotels For Cryptocurrency

The United States and Thailand Have Become Leaders In Booking Hotels For Cryptocurrency

The blockchain platform for booking hotels, Travala, on July 10th published the results of the previous month. As per the reports, in Thailand and USA housing is more frequently booking by using the cryptocurrency.

As per the information was given by Travala, the previous month the home reservation for cryptocurrency took place in the United States and Thailand. There was 701 numbers of reserved rooms for crypto-assets which is 17.4% more as compared to the month of May. The standard room rate per night in the dollar is equal to $ 147.

In June, 22% of all bookings were made on the AVA native token. 20% ahead of BTC, this makes it the most favored crypto-payment alternative. There were 294 294 people as participants in the SMART-program which is 18.5% more as compared to the month of May. As per the rating, most of the hotels were booked in the United States and Thailand. They are followed by Australia, Italy, Germany, Singapore, Canada and Spain. 

Thailand and the United States are leading in booking hotels for cryptocurrency. A discount of 27% discount was offered on rental housing in Berlin for contestants of the blockchain forum.

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Real Estate

Weekly mortgage applications fall 2.4% as consumers shrug off low rates

Weekly mortgage applications fall 2.4% as consumers shrug off low rates

For the previous several weeks, mortgage demand has been more than muted even as prices sit near two year lows. According to the Mortgage Bankers Association’s seasonally adjusted index, the mortgage application volume dropped 2.4% for the last week. The volume was higher up to 34% as compared with the similar week one year ago because of the stronger refinance market of this year. The outcomes included an alteration for the July 4th holiday.

Mortgage rates shifted a little bit lesser once more last week. For 30-year the standard contract interest rate, fixed-rate mortgages with conforming loan balances reduced to 4.04% from 4.07%, with points rising to .37 from 0.36 for loans with a down payment of 20%. 

In spite of the rate drop, there is a fell down of 7% of mortgage applications to refinance a home loan, though on the same week one year ago they were 88% higher, when interest rates were 72 basis points higher.

MBA’s associate vice president of economic and industry forecasting, Joel Kan said that, ‘borrowers have been not so much sensitive to low rates since a lot of borrowers have moreover just refinanced or are probably waiting for rates to fall even more’. ‘Further mortgage rates in our survey were unaffected or a little bit higher than in the earlier week’. 

For 30-year, the average contract interest rate, fixed-rate mortgages with jumbo loan balances (better than $484,350) rose to 4.03% from 4.00%. 

This week, the mortgage rates began a little bit higher, subsequent the stronger than it was expected employment report last Friday. Rates can make a stronger move in either direction in the following few days, as Jerome Powell, Federal Reserve Chairman testifies prior to both the houses of Congress.

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Law & Order

Judge Rejects Justice Department Request to Change Lawyers on Census Case

Judge Rejects Justice Department Request to Change Lawyers on Census Case

On Tuesday, a federal judge in New York rejected the request of Justice Department to change its legal team midway through a case challenging the efforts of administration of Trump to add a citizenship question to the year of 2020 census. 

The stridently worded order, by District Judge Jesse M. Furman of United States might further shuffle an already struggling battle by the management to save the citizenship question. Efforts to block it have become a critical political issue as the after that census and the redrawing of political boundaries in the year 2021 that will use new census data. 

If the department wants to continue with the switch of the legal teams, the judge wrote that the lawyers should offer sworn affidavits in which they have to explain their departures and remain under the jurisdiction of the court should they be required to come back. 

On Monday, the American Civil Liberties Union and other plaintiffs led by Attorney General of New York Letitia James had asked the judge to block the reassignment of the case of Justice Department without giving a reason for the withdrawal. The group said it still had questions about the move, on Tuesday. 

Dale Ho, the A.C.L.U.’s lead attorney on the case said that, ‘The Justice Department owes the courts and the public a clarification for its unprecedented substitution of the entire legal team that has been working on this case’. ‘The administration of Donald Trump is acting like it has something to bury, and we won’t rest till then we know the truth.’ Mr. Barr said, ‘we decided that not to put them in that position’. 

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Business & Trade

Federal appeals court rejects Maryland, D.C. lawsuit over President Donald Trump’s business

Federal appeals court rejects Maryland, D.C. lawsuit over President Donald Trump's business

On Wednesday, a federal appeals court rejected a court case from the District of Columbia and Maryland that alleged Donald Trump violated the Constitution by benefiting from his business as in the office.

The case filed by D.C. Attorney General Karl Racine and Maryland Attorney General Brian Frosh argued that Trump broke the seldom-tested requirements of the Constitution that bar a president from getting recompense from foreign or domestic governments with no congressional support. The provisions are known as emoluments clauses.

A three-judge panel of the United States Fourth Circuit Court of Appeals ruled in opposition to the ‘extraordinary claims straight against a sitting president’ by the Maryland and District. The appeals court mentioned the ‘paramount want protecting the executive branch from the vexatious court case that may divert it from the vigorous performance of its constitutional duties’. 

On Wednesday, the appeals court did not speak out on whether or not Donald Trump has violated the Constitution. As an alternative, it ruled that even if there had been an infringement, neither Maryland nor D.C. had been adequately injured by it to bring a court case in the first place. For Trump, the decision is a win, putting an end to one of a handful of lawful challenges to his conclusion for keeping the rights of his business empire while serving as president.

In July 2018, Peter Messitte, the United District Judge said that the attorneys general ‘persuasively argued’ that the emoluments clauses had been applied. On Wednesday, the appeals court said the suit must never have gone ahead.

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