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NYC rent freeze could push free market rents higher and juice the purchase market


John Walkup (pictured top), co-founder of UrbanDigs, a real estate data analytics company focused on the New York City market, said the vote is beneficial for the tenants it covers, but the overall positive impact is limited.

“I don’t think it does much, unfortunately, to solve the housing affordability problem at large,” Walkup told Mortgage Professional America. “The broader affordability issue is still, in my opinion, a structural mismatch between supply and demand. Did this increase supply? And the answer is no. So while this is helpful on the affordability issue for the tenants, it does not increase supply. So it’s not really a long-term affordability solution.”

A rental market divided

Walkup said the vote creates a divided dynamic in the city’s rental market. Landlords with rent-stabilized units face frozen income against rising operating costs, with no mechanism to recover the difference.

“If you’re planning on investing here, where are you going to put your money? In the free market,” he said. “Is there a lot of building happening? No. So the prices for the free market one are probably going to be the beneficiaries of this.”

Stabilized tenants have little reason to move now that their rents are locked, Walkup said. That removes supply from the free market, since fewer people cycling out of stabilized apartments means fewer available units for those renting at market rate.

OpenAI agrees to stagger rollout of its most powerful model to only Trump-approved customers



OpenAI is staggering the rollout of its newest and most powerful AI model after a request from the Trump administration. To get access to the new model, customers must first be cleared by the U.S. government, the company said on Friday.

The model, called GPT-5.6 Sol, is the flagship in a new tier of more advanced models that includes a more efficient model called Terra and its cheaper cousin Luna. OpenAI says that Sol is its strongest model yet, able to complete 50% of long-running professional tasks and tops all previous OpenAI models on coding capabilities. OpenAI said it hopes to make all three generally available in the coming weeks.

The Information first reported that the Trump administration asks OpenAI to stagger release of the new model over security concerns.

The move represents a broader shift in how the U.S. government is approaching frontier AI. Advanced cyber capabilities displayed by Anthropic’s Mythos and OpenAI’s GPT-cyber have caused concern in Washington. By limiting access to the government is attempting to ensure that those capabilities don’t end up in the hands of bad actors or hostile nation-states

It is also the second time in a month that a frontier lab’s best model has been held back from general release over capability concerns. In early June, the Commerce Department issued export controls on Anthropic that forced the lab to cut off foreign access to two of its top models, citing national security concerns. Anthropic disputed the order, but was left with no choice but to pull the models offline.

Earlier this month, Trump also signed an executive order directing federal agencies to establish a framework under which AI companies could voluntarily provide the government with early access to powerful new models for up to 30 days before broader release. 

OpenAI describes its own situation as voluntary, in contrast to Anthropic’s situation.

“As part of our ongoing engagement with the U.S. government, we previewed our plans and the models’ capabilities ahead of today’s launch. At their request, we are starting with a limited preview for a small group of trusted partners whose participation has been shared with the government,” the company said in a blog post. 

However, the company also said it was not in favour of this kind of government access process becoming the “long-term default.”

We are taking this short-term step because we believe it is the strongest path to broader availability in the coming weeks,” the company wrote, adding it was working with the Administration to develop the cyber Executive Order framework and a “repeatable process for future model releases.”

Capability concerns

OpenAI emphasized that Sol made its strongest gains in cybersecurity, specifically vulnerability and exploitation. There will be two new modes: “max,” and “ultra,” which will allow the model to reason longer and coordinate agents for specific tasks. On a key cybersecurity benchmark, OpenAI previously said the model was “competitive with” Anthropic’s Mythos. GPT-5.6 Sol uses approximately one third of the tokens used by Mythos but appears to lag slightly behind Mythos 5, a slightly more capable model from Anthropic.

OpenAI is pairing the release with what it calls its most extensive safeguards to date, and says that the model preview will police its own use. For higher-risk cases, the company says a larger model will review the conversation and could withhold responding if it’s judged to violate policy. 

It said that, despite the government gating, Sol did not cross the “Cyber Critical” threshold in its “Preparedness Framework”: in tests with Firefox and Chrome, it found the seeds of an exploit but did not produce a working one. OpenAI said it had spent 700,000 GPU hours hacking itself to try to identify vulnerabilities, and humans will conduct two more weeks of the tests before launch.

The limited rollout is a transitional period, and linked to President Trump’s June 2 executive order that directed agencies to build a framework for vetting models before release, according to OpenAI. Since that framework doesn’t exist yet, OpenAI says it conducted a phased rollout at the government’s request. 

The initial users are customers who have been approved by the US government, with the list expanding next week, according to OpenAI. The company said that the process looks like OpenAI sharing names and the government giving feedback. 

Sol is priced at $5 per million input tokens and $30 per million output tokens, compared to Terra at $2.50 and $15, respectively, and Luna at $1 and $6. 

An improvised licensing regime 

The recent steps toward any kind of attempt to regulate AI also represents a striking reversal for an administration that, on its first day in office, had rescinded a Biden-era requirement for AI companies to submit safety tests to the government, calling it overly burdensome.

However, critics have argued that, by pursuing an ad-hoc approach to containing the risks, what is emerging looks less like a coherent regulatory system and more like an improvised licensing regime. Jonathan Iwry, a fellow at the Wharton Accountable AI Lab, previously told Fortune that the government is “repurposing existing legal authorities into what is effectively a backdoor licensing regime.”

Dean Ball, a former Trump administration AI adviser who has since become a vocal critic of its recent decisions, argued that since Mythos, the United States has had an “informal” licensing regime for AI, “with no consistent rules or firm boundaries on state power or public transparency.”

Critics warn that an informal system, with no published criteria or appeal process, opens the door to discrimination—giving the government unchecked power to decide which companies get access to the market and which do not, with no legal recourse for those on the wrong side of that decision.

Pune Institute of Business Management (PIBM) Pune MBA Review 2025 | Placements | Fees | Eligibility



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Investor Perspectives: Quarterly Reporting | RPC


This report is based upon a survey of 2,500 CFA Institute members around the world working as investment analysts and portfolio managers – found strong investor support for retaining mandatory quarterly reporting, as well as significant concerns regarding the implications of reducing reporting frequency.

The report also highlights that the debate regarding quarterly reporting is about disclosures more broadly and the information investors need to allocate capital effectively, as well as the implications of changing disclosure requirements for capital formation and investor protection.

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Form 4 Aveanna Healthcare Holdings Inc For: 26 June




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Meta and Microsoft Look Cheap. But What If the Bears Are Right?


In this video, I will cover the bull and bear case for two of the biggest names in tech and explain whether the current valuation discount is a gift or a warning sign. Watch the short video to learn more, consider subscribing, and click the special offer link below.

*Stock prices used were from the trading day of June. 24, 2026. The video was published on June. 24, 2026.

Neil Rozenbaum has positions in Meta Platforms. The Motley Fool has positions in and recommends Meta Platforms and Microsoft. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

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By watching this video, you acknowledge that we and our representatives are not liable for any financial losses or decisions made based on the information provided. Always trade and invest responsibly.

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Are Mortgage Rates Finally Poised to Start Falling Again?


A while back I noted that mortgage rates were trending higher.

This was after a long period of trending lower. It was effectively a switch in direction.

And a notable one because we were seeing lower and lower interest rates before an abrupt shift higher, driven by the unexpected strikes in the Middle East.

Now that that seems to be partially resolved, bond yields (and mortgage rates) are finally drifting lower.

Could it be the start of a bigger move back toward the lows seen in early 2026?

Is the Mortgage Rate Trend Our Friend Again?

After a good day for bonds yesterday, they extended their move today on the back of a PCE inflation report that came in as forecast.

While the Federal Reserve’s preferred inflation gauge hit its highest level since late 2023 (incidentally when the 30-year fixed also peaked around 8%), it was in line with the Dow Jones consensus.

And given the Middle East accord and rapidly falling oil prices, it seems investors aren’t so concerned with inflation as they were a week or a month ago.

This has pushed 10-year bond yields lower, from a recent peak of 4.66% in mid-May to around 4.38% today.

In other words, yields are about 30 basis points lower than they were a month ago and could continue to move lower as oil prices ease.

Lower oil prices will assuage inflation concerns in the process and arguably get us back on track to where we were before the conflict began.

That’s perhaps the rationale for why mortgage rates are getting better, finally.

The big question is if they have can continue to rally over time and avoid any setbacks.

And if they can make a complete move back to those levels seen pre-war at the end of February.

Can Bond Yields (and Mortgage Rates) Fall Back to Pre-War Levels

We already have oil prices back at about pre-war levels. So why not bond yields?

If the move the past few months was mainly about the war and rising oil prices, shouldn’t bond yields come back down too?

It’s logical, though as we know these things always take time to materialize.

The old adage elevator up, stairs down comes to mind. Mortgage lenders are quick to raise rates and slow to drop them.

And you can’t really blame them. But if we drop another 30-odd basis points, we’ll be back to those levels from February.

So in a sense we are halfway there and if we can keep the momentum, we can return to a sub-6% 30-year fixed.

The 10-year bond yield was around 4% when the 30-year fixed was able to muster a 5-handle, albeit briefly.

That’s basically where we need to get to if we want mortgage rates starting in the 5s again.

It’s possible, but likely won’t happen too quickly given the caution at the moment regarding possible rate hikes, frothy tech stock valuations, and even a potential setback in the Middle East.

In the meantime, be happy mortgage rates didn’t return to 7% due to an even more protracted conflict with Iran.

Things could have actually been a lot worse.

Colin Robertson
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(YMMV) Rakuten App/Extension: Make $25 Amazon Purchase & Get $5/500 (Offer Can Be Done 3x)


The Offer

Direct Link to offer (note: offer not showing for everyone; requires app or browser extension)

  • Rakuten is offering $5 back when you shop $25 or more on Amazon when clicking through the Rakuten app or the Rakuten browser extension. Offer can be done three times for a total of $15 cashback. Valid through July 17, 2026. 

The Fine Print

  • For new Rakuten members: Offer limited to Rakuten members who have not made their first purchase through Rakuten. Offer may be modified at any time. Earn $5 Cash Back on each of your first 3 eligible Amazon orders of $25 or more through the Rakuten browser extension or the Rakuten app. If you signed up prior to 1/23/2026, purchases must be made by 3/24/2026. If you sign up on or after 1/23/2026, purchases must be made within 60 days of signing up. Offer not valid on purchases made through https://pharmacy.amazon.com, https://health.amazon.com, or the Amazon FSA/HSA Store. Amazon orders do not count toward purchases for any Rakuten Refer-A-Friend or Welcome bonuses. Rakuten is not affiliated with, sponsored by, or endorsed by Amazon. Cash back for this offer is provided by Rakuten only.
  • For existing Rakuten members: Offer limited to eligible members only and may be modified at any time. Earn $5 Cash Back on each of your next 3 eligible Amazon orders of $25 or more. Purchases must be made through the Rakuten browser extension or the Rakuten App between June 18, 2026 at 12:00pm Pacific Time and ending July 17, 2026 at 11:59pm Pacific Time.
  • Cash back is not available on the following purchases: Subscriptions, digital purchases, any gift card, voucher, or store credit purchase, any gift card or voucher redemption, purchases made with vouchers or promo codes not featured on our platform, purchases made with Add to Delivery with Amazon Prime, Auto Buy, or Rufus AI, and purchases made through Amazon Pharmacy, Online Prescription, Amazon Health (In-Person/Online Urgent Care), Prescriptions, or the Amazon FSA/HSA Store.

  • Amazon orders do not qualify as eligible purchases for any bonuses from the Rakuten Refer-A-Friend Program or the Welcome Bonus program.

Our Verdict

My understanding is that this offer is for anyone who signed up for Rakuten within the past 60 days. Many long-standing Rakuten members are seeing the offer as well in the app.

I couldn’t find the offer myself on the website or extension, but the offer showed up for me in the Rakuten app. 

If you’re new to Rakuten, sign up now with the $50 referral signup offer – full details and our referral link can be found in this post. You should then become eligible for this $5 x 3 Rakuten deal since it sounds like it works for all new members. The Amazon purchases will not work to trigger the $50 bonus (you’ll have to afterwards make a total of $50 in separate purchases to get the $50 signup bonus), but it does spruce up the bonus overall from $50 to $65 ($50+$5+$5+$5). 

Hat tip to reader Adam