This top-shelf exchange-traded fund (ETF) checks all the right boxes for income- and value-seeking investors.Although it's been a volatile year for Wall Street, it appears as if it'll be a highly profitable one for investors who've stayed the course. As of the closing bell on Dec. 17, the ageless Dow Jones Industrial Average (^DJI +0.14%), benchmark S&P 500 (^GSPC +0.79%), and growth stock-dependent Nasdaq Composite (^IXIC +1.38%) have, respectively, gained 13%, 14%, and 18% year-to-date.The artificial inte ...

When the Federal Reserve cut interest rates this week, some might have hoped that mortgage rates would follow. But contrary to popular belief, mortgage rates track movements in the long-term 10-year Treasury yield, rather than the federal funds rate. The central bank’s third-straight cut of 2025 lowered the target range for the federal funds rate to 3.5%-3.75%. The Fed's decision was driven mostly by a weakening jobs market. But the Fed also made it clear that further rate cuts are on pause, projecting on ...

Core Insights - The Federal Reserve's recent interest rate cut has led to a muted reaction in mortgage rates, with the average 30-year fixed mortgage rate remaining flat at 6.43% and slightly dipping to 6.39% [2][10] - The current mortgage rates are near their lowest levels since October 2024, having recently hit a 14-month low of 6.34% [3][10] - Mortgage rates do not always move in tandem with the Fed's actions, as they are influenced by a broader set of factors including inflation expectations, housing demand, and the overall economic outlook [5][10] Mortgage Rate Dynamics - The bond market, particularly the 10-year Treasury yield, is the primary driver of 30-year mortgage rates, which can lead to independent movements from the Fed's rate changes [6][7] - Historical examples show that mortgage rates can rise even when the Fed cuts rates, as seen in late 2024 when rates surged despite a full percentage point cut by the Fed [7][10] Implications for Homebuyers and Homeowners - Homebuyers are advised to proceed with purchases when financially ready, as timing the mortgage market is nearly impossible and waiting for ideal conditions may result in missed opportunities [11][12] - The outlook for mortgage rates suggests stability, with projections indicating rates will hover in the low-6% range through 2026, reducing the likelihood of significant declines [12] - Existing homeowners considering refinancing should evaluate whether the new rate sufficiently offsets refinancing costs, particularly if their current mortgage rates are in the high-7% or 8% range [13][14]

Market Overview - Global equities showed resilience after four days of gains, driven by expectations that the Federal Reserve will cut interest rates more quickly than previously anticipated [1] - The MSCI All Country World Index reduced its November decline to 0.4%, recovering from a nearly 4% drop earlier in the month [1] - US markets were closed for Thanksgiving, while European and Asian benchmarks experienced modest movements [1] Investor Sentiment - There is a noticeable return of risk appetite, as evidenced by Bitcoin trading above $91,000 for the first time in a week [2] - Gold prices fluctuated, and the US dollar paused its two-day decline [2] Federal Reserve Expectations - Money markets are pricing in an approximately 80% chance of a quarter-point interest rate cut next month, with expectations for three additional cuts by the end of 2026 [3] - This marks a shift from just over a week ago when traders anticipated only three cuts in total [3] - The market sentiment reflects renewed optimism following concerns over high tech valuations that previously impacted equities [3] Year-End Rally Outlook - EFG Asset Management Switzerland's CEO expressed optimism for a classic year-end rally, supported by a stable macro environment and a decent corporate earnings outlook [4] - The anticipated lagged effects of rate cuts are expected to provide additional support to the market [4] Regional Market Performance - Japanese and South Korean equities outperformed their regional counterparts, with technology shares leading the gains [4] - In Europe, Germany's DAX index increased by 0.3%, driven by a 13% rise in Puma SE due to takeover interest from multiple bidders [4] UK Market Reaction - UK gilts experienced a pullback after a rally following the Autumn budget, where the Chancellor of the Exchequer announced a larger fiscal buffer [5] - Despite the positive sentiment, the tax-raising measures introduced may overshadow economic growth prospects [5] - The pound and FTSE 100 remained relatively unchanged [5] Fiscal Policy Insights - ABN AMRO's head of macro research noted that the UK government took necessary steps to maintain bond market confidence, despite risks associated with the fiscal consolidation [6] - The current measures build upon previous significant efforts in fiscal policy [6]

Core Insights - CSB Bancorp, Inc. reported a net income of $4,151,000 for Q3 2025, an increase from $3,145,000 in Q3 2024, reflecting strong financial performance [1] - The company experienced a 49% increase in net income for the nine-month period ending September 30, 2025, totaling $11,494,000 compared to $7,693,000 in the same period last year [1] Financial Performance - Annualized returns on average common equity (ROE) and average assets (ROA) for Q3 2025 were 13.19% and 1.31%, respectively, up from 11.14% and 1.05% in Q3 2024 [2] - Pre-Provision Net Revenue (PPNR) for the quarter was $5.7 million, a 23% increase from the previous year [2] - Net interest income rose by $1.7 million, or 19%, while noninterest income increased by $57,000, or 3% [2] Economic Context - The U.S. economy grew by approximately 3% in Q3 2025, with inflation remaining around 3% [3] - National unemployment is at about 4.5%, with job growth slowing, prompting the Federal Reserve to lower short-term interest rates [3] - The local economy appears stable, with total loan balances up 10% since the beginning of the year, driven by construction and business investments [3] Credit Quality - Provision for credit loss expense decreased by $199,000 from Q3 2024, as nonperforming loans continued to decline [4] - The allowance for credit losses (ACL) was $8.7 million, or 1.08% of total loans, compared to $7.2 million, or 1.00% a year earlier [5] - Nonperforming loans were $746,000, or 0.09% of total loans, down from $3.4 million, or 0.47% a year ago [14] Loan and Deposit Trends - Loan interest income increased by $1.6 million, or 15%, due to an $80 million volume increase in loans [6] - Average deposit balances rose by $52 million, or 5%, with the average cost of deposits decreasing to 1.34% from 1.48% [15] - Average commercial loan balances increased by $63 million, or 13%, while residential mortgage balances rose by $14 million, or 8% [13] Shareholder Information - Shareholders' equity totaled $125 million as of September 30, 2025, with an average equity to assets ratio of 9.96% [16] - The company declared a third-quarter dividend of $0.41 per share, yielding an annualized rate of 3.3% based on the closing price of $49.50 [17] Company Overview - CSB Bancorp, Inc. is a financial holding company based in Millersburg, Ohio, with approximately $1.2 billion in assets as of September 30, 2025 [18]