ResidentialBusiness

Your local Macy’s might not be closing its doors as soon as previously expected. On Wednesday, the department store chain confirmed a major change involving a previously announced plan to permanently shutter 150 stores. In an earnings call, CEO Tony Spring revealed that “several major milestones” had been hit last year, citing a return to “positive comparable sales for total Macy’s Inc. and Macy’s Nameplate.” The retail boss said Macy’s success marked “an important inflection point” for the chain, as the brand hit “better-than-expected” results in every quarter, and “delivered adjusted diluted EPS well above” the chain’s own guidance. On that same call, Macy’s CFO Tom Edwards confirmed that the chain still plans to close 65 locations to complete the 150 store closures that had been planned since 2024. However, the closures will take place over an extended timeline. “With our strong balance sheet and cashflow generation, we can be flexible on timing of transactions,” Edwards said. “In order to maximize value of remaining assets, we now expect closures through 2028.” Macy’s had initially announced that the closures would take place through 2026. Building a “bold new chapter” Reflecting on since-implemented changes, Spring said he believes. Macy’s will continue to “build momentum.” He also mentioned strong growth at Bloomingdale’s stores, renewed multi-generational interest, and the utilization of AI to build “capabilities throughout the organization.” The hopeful news comes after Macy’s announced its “Bold New Chapter” plan in 2024, which included cutting 150 underperforming stores over three years and investing in its best-performing stores. It involves reimagining hundreds of locations with upgrades, focusing on the customer experience, and making some major cuts. In an update last January, the company confirmed that it would axe 66 of its stores in 2025. It wasn’t long after that Macy’s started to see promising results. In September, for example, it announced its first increase in sales since 2022. And in a letter to employees this January, Spring said the plan to focus on well-performing stores was working in a letter to employees. Shares of Macy’s Inc (NYSE: M) have struggled this year, with the stock down roughly 22% year to date. But the stock has seen gains of around 30% over the past 12 months. “We are seeing customers respond through strong performance in our go-forward business, record Net Promoter Scores, and improved results over the first three quarters,” Spring stated, while confirming that 14 stores were still slated to close in March of this year. Which Macy’s locations are closing this year? As Fast Company reported in January, previously announced closing stores in 2026 include locations in California, Michigan, Minnesota, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Texas, and Washington. A Macy’s spokesperson told Fast Company that the company has closed 85 locations thus far, but it has not shared a list of possible future closure locations. Regardless of the clear gains that Macy’s has made since its 2024 announcement, the company’s leaders still gave modest predictions for the rest of 2026, noting that it would be a challenging year with lower sales than 2025. Macy’s projects full-year revenue between $21.4 billion and $21.65 billion, below 2025’s $21.8 billion. View the full article

Struggling advertiser proposes hiking base salary and long-term incentives for bossView the full article

In an era where technology drives business growth, the expansion of AI data centers by Oracle promises a significant boost for local economies, particularly for small businesses. These modern facilities are not just about servers; they represent a fusion of advanced technology and community development, opening doors to a multitude of job opportunities. Oracle’s AI data centers, strategically located in places like New Mexico, Texas, Michigan, and Wisconsin, are expected to create nearly 8,000 jobs in operational roles when fully functional. This figure is remarkable, considering hundreds of construction jobs arise even before the first data center begins to operate. For instance, the site in Abilene, Texas, alone has already engaged over 8,000 construction workers. Local construction jobs also benefit small businesses. As Oracle builds these vast infrastructures, local suppliers and service providers will be actively involved, translating into additional economic activity within the region. “This level of construction activity supports not only the workforce but also small businesses contributing to overall regional growth,” said an Oracle spokesperson. Beyond construction, these data centers are creating a range of operational roles, from data center technicians to logistics professionals. They represent an ideal opportunity for community members who might lack previous experience in high-tech industries. Oracle’s commitment to hiring locally emphasizes the importance of community involvement. The jobs are varied, allowing entry for people with diverse backgrounds, making them accessible to many former military personnel and civilians alike. The potential for career advancement is also high. Oracle has a commitment to workforce development, aiming to equip individuals with hands-on training through their Data Center Oracle Pathways Trainee program. This initiative provides structured mentorship and real-world experience to prepare participants for operational roles. The first cohort in Abilene surpassed expectations, showcasing the program’s effectiveness and paving the way for future training sites. In addition to local talent, Oracle emphasizes its commitment to helping military veterans transition into civilian roles. This is achieved through partnerships with educational institutions like Saint Martin’s University, offering specialized training for data center technician roles. Veterans bring valuable experience in operating mission-critical systems, which aligns perfectly with the needs of tech operations. While the potential benefits are significant, small business owners should also consider some challenges that come with this rapid expansion. The influx of jobs may create competition for local talent, making it necessary for smaller businesses to enhance their employment packages to attract skilled workers. Additionally, small businesses might need to ramp up their capacity to meet increased demand from the data center workforce for services like food, transportation, and other essential needs. Through its Oracle Academy, the company also invests in educational programs that prepare students for technology careers. High school and college students can access curricula focused on cloud infrastructure, information systems, and project management, effectively building a local talent pipeline that small businesses can draw from in the future. Ultimately, the growth of AI data centers signifies much more than job creation; it represents a shift in how small businesses can thrive in a technology-driven landscape. As Oracle forges a path to enhance local economies, taking proactive steps—like investing in workforce development and local partnerships—can yield long-term benefits for communities. For more information on this initiative, you can read the original press release from Oracle here. Image via Google Gemini This article, "Oracle’s AI Data Centers to Create Thousands of Local Jobs and Training Paths" was first published on Small Business Trends View the full article

In an era where technology drives business growth, the expansion of AI data centers by Oracle promises a significant boost for local economies, particularly for small businesses. These modern facilities are not just about servers; they represent a fusion of advanced technology and community development, opening doors to a multitude of job opportunities. Oracle’s AI data centers, strategically located in places like New Mexico, Texas, Michigan, and Wisconsin, are expected to create nearly 8,000 jobs in operational roles when fully functional. This figure is remarkable, considering hundreds of construction jobs arise even before the first data center begins to operate. For instance, the site in Abilene, Texas, alone has already engaged over 8,000 construction workers. Local construction jobs also benefit small businesses. As Oracle builds these vast infrastructures, local suppliers and service providers will be actively involved, translating into additional economic activity within the region. “This level of construction activity supports not only the workforce but also small businesses contributing to overall regional growth,” said an Oracle spokesperson. Beyond construction, these data centers are creating a range of operational roles, from data center technicians to logistics professionals. They represent an ideal opportunity for community members who might lack previous experience in high-tech industries. Oracle’s commitment to hiring locally emphasizes the importance of community involvement. The jobs are varied, allowing entry for people with diverse backgrounds, making them accessible to many former military personnel and civilians alike. The potential for career advancement is also high. Oracle has a commitment to workforce development, aiming to equip individuals with hands-on training through their Data Center Oracle Pathways Trainee program. This initiative provides structured mentorship and real-world experience to prepare participants for operational roles. The first cohort in Abilene surpassed expectations, showcasing the program’s effectiveness and paving the way for future training sites. In addition to local talent, Oracle emphasizes its commitment to helping military veterans transition into civilian roles. This is achieved through partnerships with educational institutions like Saint Martin’s University, offering specialized training for data center technician roles. Veterans bring valuable experience in operating mission-critical systems, which aligns perfectly with the needs of tech operations. While the potential benefits are significant, small business owners should also consider some challenges that come with this rapid expansion. The influx of jobs may create competition for local talent, making it necessary for smaller businesses to enhance their employment packages to attract skilled workers. Additionally, small businesses might need to ramp up their capacity to meet increased demand from the data center workforce for services like food, transportation, and other essential needs. Through its Oracle Academy, the company also invests in educational programs that prepare students for technology careers. High school and college students can access curricula focused on cloud infrastructure, information systems, and project management, effectively building a local talent pipeline that small businesses can draw from in the future. Ultimately, the growth of AI data centers signifies much more than job creation; it represents a shift in how small businesses can thrive in a technology-driven landscape. As Oracle forges a path to enhance local economies, taking proactive steps—like investing in workforce development and local partnerships—can yield long-term benefits for communities. For more information on this initiative, you can read the original press release from Oracle here. Image via Google Gemini This article, "Oracle’s AI Data Centers to Create Thousands of Local Jobs and Training Paths" was first published on Small Business Trends View the full article

We may earn a commission from links on this page. Deal pricing and availability subject to change after time of publication. There's nothing sweeter than listening to your favorite album or watching your favorite movie with pristine audio. And if you're a true audiophile, few brands approach the quality Sonos can offer. Right now, Sonos is offering major discounts in the lead-up to Amazon's Big Spring Sale, and the Sonos Beam G2 + Sub Mini combo in particular stands out; it's currently $749, a 25% drop from the $998 list price and the lowest price it yet reached, according to price tracking tools. Sonos Beam G2 + Sub Mini - White $749.00 at Amazon $998.00 Save $249.00 Get Deal Get Deal $749.00 at Amazon $998.00 Save $249.00 Sonos Beam G2 + Sub Mini - Black $749.00 at Amazon $998.00 Save $249.00 Get Deal Get Deal $749.00 at Amazon $998.00 Save $249.00 SEE -1 MORE This soundbar and subwoofer combo is perfect for those who want to keep things minimalistic, whether for space or aesthetic reasons, without sacrificing sound quality. The deal includes the Sonos Beam Gen 2, which normally goes for $499, and the Sonos Sub Mini, which normally also goes for $499. The Sonos Beam Gen 2 arrived in 2021 with Atmos compatibility, eARC connectivity, NFC connectivity, and a better processor than the Gen 1 from 2018. As a smart soundbar, it supports both Google and Alexa voice assistants, as well as AirPlay. Its flat, tablet-like design (measuring 2.7 x 25.7 x 4.0 inches) makes it extremely compact, yet it still produces big sound, as noted in PCMag's "excellent" review. The Sonos Sub Mini is a smaller and more affordable version of the Sonos Sub Gen 3, perfect for a small apartment. You can learn more about it in CNET's review. The Sonos companion app has improved dramatically over the years, making for a much better experience, adding features like Sonos TruePlay, which calibrates the speaker based on its environment. Our Best Editor-Vetted Amazon Big Spring Sale Deals Right Now Apple AirPods 4 Active Noise Cancelling Wireless Earbuds — $148.99 (List Price $179.00) Apple iPad 11" 128GB A16 WiFi Tablet (Blue, 2025) — $299.00 (List Price $349.00) Sony WH1000XM6- Best Wireless Noise Canceling Headphones — $398.00 (List Price $459.99) Apple Watch Series 11 (GPS, 42mm, S/M Black Sport Band) — $299.00 (List Price $399.00) Blink Video Doorbell Wireless (Newest Model) + Sync Module Core — $35.99 (List Price $69.99) Ring Indoor Cam Plus 2K Wired Security Camera (White) — $39.99 (List Price $59.99) Fire TV Stick 4K Max Streaming Player With Remote — $34.99 (List Price $59.99) Deals are selected by our commerce team View the full article

The Ohio-based lender is accusing Atlantic Coast Mortgage of stealing customers, while a Chicago bank is accusing Lower of raiding a Maryland branch. View the full article

Contradictory accounts of attack underscore challenges of managing widening conflict View the full article

For the second week in a row, the 30-year fixed increased by 11 basis points, Freddie Mac found, a result of reaction to oil price hikes from the Iran conflict. View the full article

Current commercial mortgage rates can greatly affect your financing decisions, with variations depending on loan type and amount. For instance, multifamily loans over $6 million have an interest rate of 5.16%, whereas those under $6 million rise to 5.60%. Other options include retail mortgages at 6.07% and SBA 504 loans at 6.50%. Comprehending these rates is essential, as they reflect ongoing market trends and economic conditions. What factors should you consider when steering through these rates? Key Takeaways Multifamily loans over $6 million have a 5.16% interest rate, while those under $6 million have a 5.60% rate. Commercial retail mortgages currently feature a 6.07% interest rate with a 75% loan-to-value (LTV) ratio. SBA 504 loans are available at a 6.50% interest rate with a 90% LTV ratio. Bridge loans carry a higher interest rate of 9.00%, also with an 80% LTV ratio. Fannie Mae and Freddie Mac loan rates range from 5.60% to 7.15%, depending on the LTV and loan type. Commercial Mortgage Rates as of December 1, 2025 As of December 1, 2025, commercial mortgage rates reflect a diverse terrain for various property types and loan sizes. For multifamily loans over $6 million, you’ll find an interest rate of 5.16%, with a loan-to-value (LTV) ratio of up to 80%. If you’re looking at multifamily loans under $6 million, expect a slightly higher rate of 5.60%, still maintaining that 80% LTV limit. The commercial retail mortgage rate stands at 6.07%, allowing for an LTV of up to 75%. If you’re considering SBA 504 loans, they’re currently offered at a rate of 6.50%, with a generous LTV allowance of 90%. For those needing quick financing, bridge loans are available at a higher rate of 9.00%, but keep in mind that they likewise have an LTV limit of 80%. Comprehending these rates can help you make informed decisions in your financing expedition. Current Interest Rates on Commercial Loans What factors should you consider when evaluating current interest rates on commercial loans? First, note that multifamily loans over $6 million have an interest rate of 5.16%, whereas those under $6 million are at 5.60%. For commercial retail mortgage rates, expect an average of 6.07% with a loan-to-value (LTV) ratio up to 75%. If you’re looking at SBA 504 loans, the rate is 6.50% with a higher LTV of 90%. Keep in mind that apartment loans typically have lower rates than office properties. If you’re considering bridge loans, be prepared for a higher interest rate of 9.00%, capped at an LTV of 80%. Comprehending the current interest rates for investment property can help you make informed decisions with Freddie Mac, ensuring you choose the best financing option for your needs. Current Commercial Mortgage Terms When evaluating current commercial mortgage terms, it’s crucial to grasp the specifics that may impact your financing options. Commercial lending companies offer various mortgages, each customized to different property types and borrower profiles. For instance, commercial mortgage rates for multifamily loans over $6 million stand at 5.16%, with a loan-to-value (LTV) ratio of up to 80%. Conversely, commercial retail mortgages have a higher rate of 6.07% but a lower LTV limit of 75%. If you’re a business owner, consider the SBA 504 loan, which provides a rate of 6.50% and an attractive LTV of up to 90%. Current market conditions furthermore suggest a preference for short-term deals with lower prepayment penalties, as borrowers seek flexibility amidst fluctuating interest rates. Grasping these terms can help you make informed decisions about your commercial financing needs. Overview of Commercial Mortgage Rates in Early 2025 In early 2025, you’ll notice that the Federal Reserve‘s recent rate cuts have sparked changes in commercial mortgage rates. As the 10-year treasury rate climbs to over 4.50%, the relationship between short-term and long-term rates becomes increasingly complex, affecting your borrowing options. Many borrowers are now leaning in the direction of shorter-term loans with lower prepayment penalties, as they anticipate potential further rate cuts later this year. Federal Reserve Rate Changes As the Federal Reserve implemented a series of rate cuts in early 2025, the environment of commercial mortgage rates experienced notable shifts. The Fed reduced the federal funds rate by 75 basis points across three meetings, but long-term treasury rates rose considerably, leading to increased financing costs for borrowers. Here’s what you need to know: The 10-year treasury rate jumped from 3.70% to over 4.50%. Multifamily and CMBS loans faced notable fluctuations. Preference shifted towards bank and credit union loans. The Fed hinted at potential further rate cuts in 2025. These changes impacted overall commercial mortgage rates. Navigating this evolving environment is essential for comprehending your borrowing options and making informed financial decisions. Long-Term Treasury Trends With the Federal Reserve’s recent rate cuts, comprehending the trends in long-term treasury rates is crucial for grasping the terrain of commercial mortgage rates in early 2025. In spite of a reduction in short-term rates, long-term treasury rates have shown an upward trend, with the 10-year treasury rate rising from 3.70% to over 4.50% by January 2025. This increase has directly impacted commercial mortgage rates, as lenders adjust their offerings in response. As of December 2025, multifamily loans over $6 million have rates at 5.16%, whereas commercial retail mortgages are at 6.07%. Market expectations of potential future rate cuts from the Federal Reserve could further influence long-term treasury rates and, in turn, commercial mortgage rates. Refinancing and Broker Advantages In today’s commercial mortgage environment, many borrowers face cash-short situations, making refinancing a crucial step to maintain cash flow. Working with a commercial mortgage broker can give you access to a broad range of capital sources, allowing you to secure more favorable loan terms in spite of rising interest rates. Cash Short Situations Maneuvering cash-short situations in commercial real estate can be challenging, especially when rising mortgage rates strain your financial resources. If you’re facing difficulties, consider the following strategies: Assess your current cash flow and identify areas for improvement. Explore refinancing existing loans to secure better commercial mortgage rates. Involve equity partners to bolster your financial position. Leverage the experience of commercial mortgage brokers for diverse borrowing options. Demonstrate solid creditworthiness to improve your refinancing opportunities. In these scenarios, it’s essential to act swiftly. The right approach, combined with expert guidance, can help you navigate cash-short situations effectively. Access to Capital Sources Maneuvering cash-short situations in commercial real estate often leads borrowers to seek access to capital sources for refinancing. With rising mortgage interest rates in Washington state, you may find it crucial to work with refinance banks. This approach helps identify current ARM mortgage rates and investment property loan rates today. Capital Source Advantages Commercial Brokers Access to diverse financing options Direct Lenders Potentially lower rates Private Equity Firms Flexible terms and faster approvals Engaging with a commercial mortgage broker can simplify your refinancing experience, offering customized solutions to navigate the intricacies of securing financing, especially in a fluctuating market. Loan Types and Terms When exploring commercial mortgage options, it’s essential to understand the various loan types and terms available to you. Each loan type comes with its own unique characteristics, rates, and terms that can greatly impact your investment. Multifamily loan rates can range from 5.16% to 5.60% based on loan amounts and LTV ratios. Commercial retail mortgage rates currently stand at 6.07% with an LTV of up to 75%. SBA 504 loans are available at 6.50%, allowing for a higher LTV of 90%. Bridge loans offer short-term financing at higher rates, around 9.00%, with an LTV of up to 80%. Non-recourse options are available, providing less liability in case of default, particularly in CMBS loans. Understanding these options helps you make informed decisions customized to your financial goals and risk tolerance. Multifamily Loan Rates Multifamily loan rates play a significant role in the financing environment for those looking to invest in residential properties with multiple units. As of December 1, 2025, the interest rate for multifamily loans over $6 million is 5.16%, whereas those under $6 million have an interest rate of 5.60%. Both options come with a loan-to-value (LTV) ratio of up to 80%. Here’s a quick overview of the current multifamily loan rates: Loan Amount Interest Rate Loan-to-Value Ratio Over $6 million 5.16% Up to 80% Under $6 million 5.60% Up to 80% Tiered Pricing Varies 55% to 80% Additionally, investors can take advantage of non-recourse loans, which limit personal liability and offer greater security in this asset class. CMBS Rates CMBS rates, which are crucial for investors seeking stable financing for commercial properties, currently range from 6.07% to 6.99% for 10-year fixed loans, depending on the property type and its associated risk profile. These loans often come with amortization terms of up to 30 years, providing long-term financing options. Here are some key points to reflect on about CMBS rates: Loan-to-value (LTV) ratios can reach up to 75% for purchases and refinances. CMBS loans are ideal for properties with stable cash flows and long lease terms. Cash-out refinances are permitted, allowing you to leverage equity. Investors appreciate the predictability of 10-year fixed loans. These commercial mortgage-backed securities are well-suited for long-term exit strategies. Understanding these factors can help you make informed decisions when exploring CMBS financing options for your commercial investments. Fannie Mae and Freddie Mac Loans When considering financing options for multifamily properties, Fannie Mae and Freddie Mac loans stand out with fixed rates and manageable terms. Fannie Mae offers rates between 5.60% and 7.15%, whereas Freddie Mac‘s range is slightly narrower, from 5.93% to 6.12%. Both programs cater to loan amounts from $1.5 million to $6 million, making them accessible choices for many investors. Loan Amounts and Terms Fannie Mae and Freddie Mac loans cater to borrowers looking for financing in the range of $1,500,000 to $6,000,000, making them a popular choice in the commercial mortgage market. Here are some key features of these loans: Fannie Mae Small Balance loans range from $1,500,000 to $6,000,000, with fixed rates typically between 5.60% and 7.15%. Freddie Mac Small Balance loans offer rates from 5.93% to 6.12%, likewise within the same range. Both loans have loan-to-value (LTV) ratios up to 80% for purchases and 75% for refinances. They feature simplified underwriting processes, making it easier to secure financing. They provide non-recourse financing options, appealing to investors seeking lower servicing costs and risk mitigation. Interest Rates Comparison Although both Fannie Mae and Freddie Mac loans serve similar markets, their interest rates reveal notable differences that can greatly impact your financing decisions. Fannie Mae Small Balance rates range from 5.60% to 7.15%, making them more attractive for seasoned investors, particularly with lower servicing costs. Conversely, Freddie Mac rates fall between 5.93% and 6.12%, slightly higher for similar loan amounts. Current mortgage rates in Austin may likewise reflect these trends, affecting your mortgage refinance rates for a 20-year fixed term. Comprehending what mortgage rates are based on, including market conditions, is essential. If you’re considering refinancing, pay attention to the interest rates for a 15-year refinance, as they can greatly influence your overall costs. Applying for Multifamily Loans Have you considered applying for a multifamily loan? Comprehending the requirements is vital for a smooth application process. Here are some key points to keep in mind: You’ll need a current rent roll showing at least 90% occupancy. A 12-month operating history is fundamental to demonstrate cash flow. Lenders look for sufficient multifamily experience, net worth, cash liquidity, and a solid credit rating. Loan amounts typically range from $1,500,000 to $6,000,000, with potential increases in larger markets. Non-HUD/Fannie Mae/Freddie Mac loans can be secured through banks or credit unions. When applying, lenders will evaluate property cash flow, borrower creditworthiness, and the Debt Service Coverage Ratio (DSCR). The interest rate for investment property today may vary based on factors like current mortgage rates in Seattle, WA, and whether you’re considering a 7-year fixed mortgage. Commercial Mortgage Application Considerations When applying for a commercial mortgage, understanding the key considerations can greatly impact your success. One vital factor is the debt service coverage ratio (DSCR), which lenders use to evaluate your ability to meet mortgage payments. A higher DSCR indicates better cash flow, boosting your chances for loan approval. Moreover, the creditworthiness of the borrower, including your credit score and financial history, plays a significant role in the commercial mortgage application process. Lenders want to see that you can manage financial responsibilities effectively. The type and location of your property are significant, as different asset classes carry varying risk profiles. To improve your credibility and increase approval chances, it’s important to present a thorough business plan and demonstrate relevant experience. Frequently Asked Questions What Is the Current Commercial Loan Rate? You’re likely interested in the current rates for commercial loans, which vary based on the type of loan and amount. For multifamily loans exceeding $6 million, the rate is 5.16%, whereas those under $6 million are at 5.60%. Retail mortgages are currently 6.07%, and SBA 504 loans are 6.50%. If you’re considering a bridge loan, expect a higher rate of 9.00%. Each option has specific loan-to-value ratios that can impact your financing decisions. What Is a Typical Interest Rate on a Commercial Loan? A typical interest rate on a commercial loan varies based on factors like the type of property and the loan’s specifics. For multifamily properties, rates might range from 5% to 6%, whereas bridge loans can be higher, around 9%. Furthermore, your loan-to-value ratio and debt service coverage ratio influence the rate you receive. Typically, higher-quality assets secure lower rates, reflecting their perceived risk to lenders in today’s market. What Is the Loan Interest Rate for Commercial Property? The loan interest rate for commercial property varies based on factors like property type and borrower creditworthiness. For instance, multifamily loans over $6 million might’ve rates around 5.16%, whereas smaller loans could be at 5.60%. Retail properties typically see higher rates, like 6.07%. Furthermore, SBA 504 loans and bridge loans have rates of 6.50% and 9.00%, respectively, reflecting their different risk profiles and terms. Always compare options before committing. What Is the Current Commercial Bank Interest Rate? Right now, commercial bank interest rates depend on the type and amount of the loan. For instance, multifamily loans over $6 million typically have rates around 5.16%, whereas those under $6 million are at 5.60%. Retail mortgages are higher at 6.07%. Furthermore, SBA 504 loans are set at 6.50%, and bridge loans can reach 9.00%. Factors like property location and borrower creditworthiness greatly influence these rates. Conclusion In conclusion, comprehending current commercial mortgage rates can help you make informed financial decisions. With varying rates depending on loan type and amount, it’s vital to evaluate your specific needs. Whether you’re considering multifamily loans, commercial retail mortgages, or bridge loans, knowing the current rates and terms is important. Furthermore, exploring refinancing options and working with brokers can provide advantages. Always stay updated on market trends, as these influence rates and your borrowing potential. Image via Google Gemini and ArtSmart This article, "Current Commercial Mortgage Rates" was first published on Small Business Trends View the full article

Current commercial mortgage rates can greatly affect your financing decisions, with variations depending on loan type and amount. For instance, multifamily loans over $6 million have an interest rate of 5.16%, whereas those under $6 million rise to 5.60%. Other options include retail mortgages at 6.07% and SBA 504 loans at 6.50%. Comprehending these rates is essential, as they reflect ongoing market trends and economic conditions. What factors should you consider when steering through these rates? Key Takeaways Multifamily loans over $6 million have a 5.16% interest rate, while those under $6 million have a 5.60% rate. Commercial retail mortgages currently feature a 6.07% interest rate with a 75% loan-to-value (LTV) ratio. SBA 504 loans are available at a 6.50% interest rate with a 90% LTV ratio. Bridge loans carry a higher interest rate of 9.00%, also with an 80% LTV ratio. Fannie Mae and Freddie Mac loan rates range from 5.60% to 7.15%, depending on the LTV and loan type. Commercial Mortgage Rates as of December 1, 2025 As of December 1, 2025, commercial mortgage rates reflect a diverse terrain for various property types and loan sizes. For multifamily loans over $6 million, you’ll find an interest rate of 5.16%, with a loan-to-value (LTV) ratio of up to 80%. If you’re looking at multifamily loans under $6 million, expect a slightly higher rate of 5.60%, still maintaining that 80% LTV limit. The commercial retail mortgage rate stands at 6.07%, allowing for an LTV of up to 75%. If you’re considering SBA 504 loans, they’re currently offered at a rate of 6.50%, with a generous LTV allowance of 90%. For those needing quick financing, bridge loans are available at a higher rate of 9.00%, but keep in mind that they likewise have an LTV limit of 80%. Comprehending these rates can help you make informed decisions in your financing expedition. Current Interest Rates on Commercial Loans What factors should you consider when evaluating current interest rates on commercial loans? First, note that multifamily loans over $6 million have an interest rate of 5.16%, whereas those under $6 million are at 5.60%. For commercial retail mortgage rates, expect an average of 6.07% with a loan-to-value (LTV) ratio up to 75%. If you’re looking at SBA 504 loans, the rate is 6.50% with a higher LTV of 90%. Keep in mind that apartment loans typically have lower rates than office properties. If you’re considering bridge loans, be prepared for a higher interest rate of 9.00%, capped at an LTV of 80%. Comprehending the current interest rates for investment property can help you make informed decisions with Freddie Mac, ensuring you choose the best financing option for your needs. Current Commercial Mortgage Terms When evaluating current commercial mortgage terms, it’s crucial to grasp the specifics that may impact your financing options. Commercial lending companies offer various mortgages, each customized to different property types and borrower profiles. For instance, commercial mortgage rates for multifamily loans over $6 million stand at 5.16%, with a loan-to-value (LTV) ratio of up to 80%. Conversely, commercial retail mortgages have a higher rate of 6.07% but a lower LTV limit of 75%. If you’re a business owner, consider the SBA 504 loan, which provides a rate of 6.50% and an attractive LTV of up to 90%. Current market conditions furthermore suggest a preference for short-term deals with lower prepayment penalties, as borrowers seek flexibility amidst fluctuating interest rates. Grasping these terms can help you make informed decisions about your commercial financing needs. Overview of Commercial Mortgage Rates in Early 2025 In early 2025, you’ll notice that the Federal Reserve‘s recent rate cuts have sparked changes in commercial mortgage rates. As the 10-year treasury rate climbs to over 4.50%, the relationship between short-term and long-term rates becomes increasingly complex, affecting your borrowing options. Many borrowers are now leaning in the direction of shorter-term loans with lower prepayment penalties, as they anticipate potential further rate cuts later this year. Federal Reserve Rate Changes As the Federal Reserve implemented a series of rate cuts in early 2025, the environment of commercial mortgage rates experienced notable shifts. The Fed reduced the federal funds rate by 75 basis points across three meetings, but long-term treasury rates rose considerably, leading to increased financing costs for borrowers. Here’s what you need to know: The 10-year treasury rate jumped from 3.70% to over 4.50%. Multifamily and CMBS loans faced notable fluctuations. Preference shifted towards bank and credit union loans. The Fed hinted at potential further rate cuts in 2025. These changes impacted overall commercial mortgage rates. Navigating this evolving environment is essential for comprehending your borrowing options and making informed financial decisions. Long-Term Treasury Trends With the Federal Reserve’s recent rate cuts, comprehending the trends in long-term treasury rates is crucial for grasping the terrain of commercial mortgage rates in early 2025. In spite of a reduction in short-term rates, long-term treasury rates have shown an upward trend, with the 10-year treasury rate rising from 3.70% to over 4.50% by January 2025. This increase has directly impacted commercial mortgage rates, as lenders adjust their offerings in response. As of December 2025, multifamily loans over $6 million have rates at 5.16%, whereas commercial retail mortgages are at 6.07%. Market expectations of potential future rate cuts from the Federal Reserve could further influence long-term treasury rates and, in turn, commercial mortgage rates. Refinancing and Broker Advantages In today’s commercial mortgage environment, many borrowers face cash-short situations, making refinancing a crucial step to maintain cash flow. Working with a commercial mortgage broker can give you access to a broad range of capital sources, allowing you to secure more favorable loan terms in spite of rising interest rates. Cash Short Situations Maneuvering cash-short situations in commercial real estate can be challenging, especially when rising mortgage rates strain your financial resources. If you’re facing difficulties, consider the following strategies: Assess your current cash flow and identify areas for improvement. Explore refinancing existing loans to secure better commercial mortgage rates. Involve equity partners to bolster your financial position. Leverage the experience of commercial mortgage brokers for diverse borrowing options. Demonstrate solid creditworthiness to improve your refinancing opportunities. In these scenarios, it’s essential to act swiftly. The right approach, combined with expert guidance, can help you navigate cash-short situations effectively. Access to Capital Sources Maneuvering cash-short situations in commercial real estate often leads borrowers to seek access to capital sources for refinancing. With rising mortgage interest rates in Washington state, you may find it crucial to work with refinance banks. This approach helps identify current ARM mortgage rates and investment property loan rates today. Capital Source Advantages Commercial Brokers Access to diverse financing options Direct Lenders Potentially lower rates Private Equity Firms Flexible terms and faster approvals Engaging with a commercial mortgage broker can simplify your refinancing experience, offering customized solutions to navigate the intricacies of securing financing, especially in a fluctuating market. Loan Types and Terms When exploring commercial mortgage options, it’s essential to understand the various loan types and terms available to you. Each loan type comes with its own unique characteristics, rates, and terms that can greatly impact your investment. Multifamily loan rates can range from 5.16% to 5.60% based on loan amounts and LTV ratios. Commercial retail mortgage rates currently stand at 6.07% with an LTV of up to 75%. SBA 504 loans are available at 6.50%, allowing for a higher LTV of 90%. Bridge loans offer short-term financing at higher rates, around 9.00%, with an LTV of up to 80%. Non-recourse options are available, providing less liability in case of default, particularly in CMBS loans. Understanding these options helps you make informed decisions customized to your financial goals and risk tolerance. Multifamily Loan Rates Multifamily loan rates play a significant role in the financing environment for those looking to invest in residential properties with multiple units. As of December 1, 2025, the interest rate for multifamily loans over $6 million is 5.16%, whereas those under $6 million have an interest rate of 5.60%. Both options come with a loan-to-value (LTV) ratio of up to 80%. Here’s a quick overview of the current multifamily loan rates: Loan Amount Interest Rate Loan-to-Value Ratio Over $6 million 5.16% Up to 80% Under $6 million 5.60% Up to 80% Tiered Pricing Varies 55% to 80% Additionally, investors can take advantage of non-recourse loans, which limit personal liability and offer greater security in this asset class. CMBS Rates CMBS rates, which are crucial for investors seeking stable financing for commercial properties, currently range from 6.07% to 6.99% for 10-year fixed loans, depending on the property type and its associated risk profile. These loans often come with amortization terms of up to 30 years, providing long-term financing options. Here are some key points to reflect on about CMBS rates: Loan-to-value (LTV) ratios can reach up to 75% for purchases and refinances. CMBS loans are ideal for properties with stable cash flows and long lease terms. Cash-out refinances are permitted, allowing you to leverage equity. Investors appreciate the predictability of 10-year fixed loans. These commercial mortgage-backed securities are well-suited for long-term exit strategies. Understanding these factors can help you make informed decisions when exploring CMBS financing options for your commercial investments. Fannie Mae and Freddie Mac Loans When considering financing options for multifamily properties, Fannie Mae and Freddie Mac loans stand out with fixed rates and manageable terms. Fannie Mae offers rates between 5.60% and 7.15%, whereas Freddie Mac‘s range is slightly narrower, from 5.93% to 6.12%. Both programs cater to loan amounts from $1.5 million to $6 million, making them accessible choices for many investors. Loan Amounts and Terms Fannie Mae and Freddie Mac loans cater to borrowers looking for financing in the range of $1,500,000 to $6,000,000, making them a popular choice in the commercial mortgage market. Here are some key features of these loans: Fannie Mae Small Balance loans range from $1,500,000 to $6,000,000, with fixed rates typically between 5.60% and 7.15%. Freddie Mac Small Balance loans offer rates from 5.93% to 6.12%, likewise within the same range. Both loans have loan-to-value (LTV) ratios up to 80% for purchases and 75% for refinances. They feature simplified underwriting processes, making it easier to secure financing. They provide non-recourse financing options, appealing to investors seeking lower servicing costs and risk mitigation. Interest Rates Comparison Although both Fannie Mae and Freddie Mac loans serve similar markets, their interest rates reveal notable differences that can greatly impact your financing decisions. Fannie Mae Small Balance rates range from 5.60% to 7.15%, making them more attractive for seasoned investors, particularly with lower servicing costs. Conversely, Freddie Mac rates fall between 5.93% and 6.12%, slightly higher for similar loan amounts. Current mortgage rates in Austin may likewise reflect these trends, affecting your mortgage refinance rates for a 20-year fixed term. Comprehending what mortgage rates are based on, including market conditions, is essential. If you’re considering refinancing, pay attention to the interest rates for a 15-year refinance, as they can greatly influence your overall costs. Applying for Multifamily Loans Have you considered applying for a multifamily loan? Comprehending the requirements is vital for a smooth application process. Here are some key points to keep in mind: You’ll need a current rent roll showing at least 90% occupancy. A 12-month operating history is fundamental to demonstrate cash flow. Lenders look for sufficient multifamily experience, net worth, cash liquidity, and a solid credit rating. Loan amounts typically range from $1,500,000 to $6,000,000, with potential increases in larger markets. Non-HUD/Fannie Mae/Freddie Mac loans can be secured through banks or credit unions. When applying, lenders will evaluate property cash flow, borrower creditworthiness, and the Debt Service Coverage Ratio (DSCR). The interest rate for investment property today may vary based on factors like current mortgage rates in Seattle, WA, and whether you’re considering a 7-year fixed mortgage. Commercial Mortgage Application Considerations When applying for a commercial mortgage, understanding the key considerations can greatly impact your success. One vital factor is the debt service coverage ratio (DSCR), which lenders use to evaluate your ability to meet mortgage payments. A higher DSCR indicates better cash flow, boosting your chances for loan approval. Moreover, the creditworthiness of the borrower, including your credit score and financial history, plays a significant role in the commercial mortgage application process. Lenders want to see that you can manage financial responsibilities effectively. The type and location of your property are significant, as different asset classes carry varying risk profiles. To improve your credibility and increase approval chances, it’s important to present a thorough business plan and demonstrate relevant experience. Frequently Asked Questions What Is the Current Commercial Loan Rate? You’re likely interested in the current rates for commercial loans, which vary based on the type of loan and amount. For multifamily loans exceeding $6 million, the rate is 5.16%, whereas those under $6 million are at 5.60%. Retail mortgages are currently 6.07%, and SBA 504 loans are 6.50%. If you’re considering a bridge loan, expect a higher rate of 9.00%. Each option has specific loan-to-value ratios that can impact your financing decisions. What Is a Typical Interest Rate on a Commercial Loan? A typical interest rate on a commercial loan varies based on factors like the type of property and the loan’s specifics. For multifamily properties, rates might range from 5% to 6%, whereas bridge loans can be higher, around 9%. Furthermore, your loan-to-value ratio and debt service coverage ratio influence the rate you receive. Typically, higher-quality assets secure lower rates, reflecting their perceived risk to lenders in today’s market. What Is the Loan Interest Rate for Commercial Property? The loan interest rate for commercial property varies based on factors like property type and borrower creditworthiness. For instance, multifamily loans over $6 million might’ve rates around 5.16%, whereas smaller loans could be at 5.60%. Retail properties typically see higher rates, like 6.07%. Furthermore, SBA 504 loans and bridge loans have rates of 6.50% and 9.00%, respectively, reflecting their different risk profiles and terms. Always compare options before committing. What Is the Current Commercial Bank Interest Rate? Right now, commercial bank interest rates depend on the type and amount of the loan. For instance, multifamily loans over $6 million typically have rates around 5.16%, whereas those under $6 million are at 5.60%. Retail mortgages are higher at 6.07%. Furthermore, SBA 504 loans are set at 6.50%, and bridge loans can reach 9.00%. Factors like property location and borrower creditworthiness greatly influence these rates. Conclusion In conclusion, comprehending current commercial mortgage rates can help you make informed financial decisions. With varying rates depending on loan type and amount, it’s vital to evaluate your specific needs. Whether you’re considering multifamily loans, commercial retail mortgages, or bridge loans, knowing the current rates and terms is important. Furthermore, exploring refinancing options and working with brokers can provide advantages. Always stay updated on market trends, as these influence rates and your borrowing potential. Image via Google Gemini and ArtSmart This article, "Current Commercial Mortgage Rates" was first published on Small Business Trends View the full article

This week, postmaster general David Steiner testified before Congress highlighting major concerns about the United States Postal Service (USPS). Steiner said that USPS is at a “critical juncture” and underscored the “urgent need for greater operational and pricing flexibility” in order to maintain the service. “We got here because of the drastic reduction in the use of mail,” Steiner explained. “From the historic peak volume of 213 billion pieces per year in 2006 to 109 billion pieces today, we have lost over 104 billion pieces per year in our system. For perspective, if all of that lost volume was paid at the current price of a stamp, which is 78 cents, that’s about 81 billion dollars. No company could weather that much revenue loss.” Steiner continued, warning, “At our current rate, we’ll be out of cash in less than 12 months. So in about a year from now, the postal service would be unable to deliver the mail.” The postmaster general also outlined a long list of issues negatively impacting USPS, which he called an “anchor” that is weighing the organization down. He cited overregulation, saying “our regulator ensures that we won’t make money or break even – out of fear of a non-existent mail monopoly”, along with a series of other constraints. In an effort to solve some of the financial issues facing USPS, Steiner said the price of a first‑class stamp could rise to 90 to 95 cents, up from its current rate of 75 cents. He said the change alone would “would largely solve” the agency’s “controllable loss.” The postmaster general also urged Congress to increase the organization’s borrowing power, saying “no private company is as limited in its credit access as the Postal Service, and certainly not one with our scope, operational complexity, and importance to the American public.” Steiner said the agency is committed to cost-saving ventures. It previously outlined a proposal for saving around $3 billion annually. USPS has been reporting losses since 2007. In 2024, it incurred $9.5 billion in losses. Last the last fiscal year, the agency said it incurred net losses of $9 billion. And in the first quarter of 2026, it lost a reported $1.3 billion. Last year, President The President spoke about the postal service’s struggles, after previously dropping plans to privatize the agency. “Well, we want to have a post office that works well and doesn’t lose massive amounts of money, and we’re thinking about doing that, and it will be a form of a merger,” The President said when asked if he wanted to make USPS part of the Commerce Department. The President continued, “It’ll remain the Postal Service, and I think it’ll operate a lot better than it has been over the years.” View the full article

Here are three updates from past letter-writers. 1. What to do about serious problems you never see firsthand (#2 at the link) Great advice and so many great responses – thank you! it is indeed nonprofit early childhood education, with infant, toddler and preschool classrooms. I got two big things from this conversation – I am indeed not crazy, this is a solvable problem. And I got some strong language for how to name what is going on and try to shift things next time. Here is what I ended up doing this time: With this director there had been a previous situation where I had looped in the supervisor, and the director was upset, why hadn’t I talked to her, she thought we had a good relationship, gone behind her back, etc. and it didn’t help much and I had to do relationship repair to get back to a good coaching relationship. This time, I sent her this: “I wanted to share some thoughts and see what you think. I’m sending this just to you so we can think this through, and see what the next steps might be. There are two things that most concern me . . .” With a “we’ll figure it out together” tone, I objectively detailed my concerns, especially how serious it was that there was the fear of retaliation from the other staff, and acknowledged how hard it must be to follow through when you don’t see it, and how can we brainstorm to get the data she needs to act? I didn’t get a response to the email, but the next time I was there the problematic staff was gone. Apparently the director met with her and she walked out. So win for this classroom, but we still have some big challenges in our agency. Out of the answer and comments, I also got a realization and some questions – coaching, at least how my agency does it, is a strange space. I have responsibility but no way to enforce accountability. I have goals as a coach, but if directors won’t back me up and hold people accountable, nothing changes. And if their supervisors won’t either, it’s even more impossible. And I really don’t understand why as a culture my agency is not willing to deal with ineffective or inappropriate directors and teachers. Part of it is chronic struggles with staffing. (To answer one question, no, we never go out of ratio. We will pull a director or admin into a room rather than do that. You don’t even step out for a bathroom break without someone stepping in.) I’m curious what coaching and quality improvement looks like in fields other than education. Early childhood care and education in the U.S. is struggling so much. Families can’t afford care, we can’t pay teachers enough, and public funding is being cut like crazy. Many states had quality improvement initiatives begin in the 1990’s and 2000’s to address it with increased qualifications for teachers and state money to support it, but with the states I’m involved in, the updated quality improvement standards have decreased, probably because of the very desperate lack of more highly qualified teachers. We are going back to unregulated underground child care for many families. 2. Am I ruining my life by moving for my spouse’s job? (#5 at the link) I wanted to share an update a couple of years after writing my original letter about whether to move for my spouse’s career. I ultimately agreed to move because of how difficult it is to find a job in my spouse’s field and the quality of life benefits of the new city. Thankfully, a couple months after arriving I found a local job in a different industry with decent pay, flexibility, and benefits. The hardest part has been the hit to my ego and sense of identity. I was very good at my previous job and, in many ways, it was my imperfect dream role. But it was a public-sector position in an organization that has become much less stable under this presidential administration, and my broader field has taken a decimating hit. My current job is unrelated, and sometimes I miss being seen as an expert rather than just another small part of a large system. I’ve been working on separating my sense of self-worth from my job, but that transition has certainly been hard. One upside of watching the upheaval in the field I once loved from afar is that it’s made it easier not to dwell on what my career might have looked like if I’d stayed. As the professional landscape has changed, my parents have stopped telling me I made a terrible career decision and instead now criticize the move itself. That’s been tough, but with time, grief, and therapy I’ve started to make peace with the personal side of it and stop letting it drive my anxiety about my career. Life looks different than I expected a few years ago, but many of the things within my control are going well. My spouse and child are thriving. I miss our old city, but I’m also enjoying the new one and the opportunities it brings. 3. Can I advise my boss not to hire a contractor? (#4 at the link) I took my concerns about Jane (the contractor who couldn’t do her job but was well liked) to my boss and he said he appreciated my honesty. He also felt that the things Jane was struggling with could be taught but that she’d built strong relationships at the company and that kind of thing couldn’t be taught. Jane was hired. It became clear to me that Jane’s “good relationships” were the result of her sharing privileged information, over-promising, and gossiping. Jane also began to backstab and exclude all the other women on the team. Before her trial period was over, I took my new concerns about her behavior to my boss, who promised to speak with her and asked me to give her another chance. Some time later, we received an email from HR (not our boss) that Jane had been fired. My boss now insists I am part of all hiring committees. I’d like to leave this update here, but honestly the team has not recovered from Jane’s toxic behavior. The factions she created to pit against each other have not dissipated and there is anger and confusion around her firing. There’s also lingering suspicion that maybe Anna is actually a slacker, Betty is actually a bully, and Connie is actually unreliable and Jane was the only hard working, honest, and dependable woman on the team. HR isn’t about to tell us why she was fired so we’ll never really know what happened. When it comes up, all I can do is counter rumor with my personal experience (i.e., “I’ve never had a problem with the quality of Anna’s work” — a strategy I know because of your great advice on other letters, Alison!). I don’t expect the team to recover until each and every one of us has moved on to a new job. Wishing everyone a drama-free workplace! The post updates: trailing spouse, problems you don’t see firsthand, and more appeared first on Ask a Manager. View the full article

Industry worries that ‘panic’ actions by the White House could backfire on plans to increase drillingView the full article

Fifteen years after his passing, Steve Jobs’s thoughts on innovation, entrepreneurship, design, and leadership still make a meaningful impact. Since there’s a Jobs quote for many situations, winnowing it down to five isn’t an easy task. Still: Here’s my attempt. Here’s Steve Jobs on starting your own business, perseverance, leadership and responsibility, intelligence, and money. Jobs’s thoughts on starting a business Maybe you don’t want to start your own company, much less build a thriving business. Even so, Jobs felt everyone should dip a toe in the entrepreneurial water, even if it’s just a side hustle. Why? As Jobs said: I think that without owning something over an extended period of time, like a few years, where you have the chance to take responsibility for your recommendations, where you have to see your recommendations through all action stages, and accumulate scar tissue for the mistakes, and pick yourself up off the ground and dust yourself off . . . you learn a fraction of what you can. Coming in and making recommendations and not owning the results, not owning the implications, [provides] a fraction of the value and a fraction of the opportunity to learn to be better. Without the experience of actually doing it, [you] never get three-dimensional. Start a business or a side hustle and you get to chart your own course, make your own decisions, make your own mistakes, be responsible for your own success: and learn from those decisions, mistakes, and successes. And add another dimension to your skills, your personality, and your life. Jobs’s thoughts on perseverance If talent is the ability to learn a subject or gain a skill more quickly than most, I definitely lack talent. But that’s OK since, as Jobs said: I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance. It is so hard. You pour so much of your life into this thing. There are such rough moments . . . that most people give up. I don’t blame them. It’s really tough. While Jobs was referring to startup founders, the premise is broadly applicable. For most of us, success is based on showing up, day after day, even when we don’t want to. While that might sound too simplistic—perseverance is just one factor in achieving any worthwhile pursuit—science says showing up every day carries outsize importance. A meta-analysis published in Review of Educational Research found that college students who consistently go to class get better grades. While that might sound more like correlation than causation (maybe the smartest people tend to go to class more regularly?), there’s more to it. As the researchers write: Not particularly talented? Not particularly smart? As long as you show up, and keep showing up, you’ll likely do well. If you don’t have a talent for sales, sales skills can still be learned. If you don’t have a talent for leading people, most leadership skills—giving feedback, building teams, setting expectations, showing consideration for others, seeking input, focusing on meaningful priorities, etc.—can be learned. Success in most pursuits doesn’t require talent. Success simply requires skill and experience you can gain. As long as you’re willing to keep showing up. Jobs’s thoughts on responsibility No one ever does anything truly worthwhile on their own. That means we’re all, whether formally or informally, at times in a position to lead. And to take responsibility. Here’s a story from John Rossman’s book Think Like Amazon: Steve Jobs told employees a short story when they were promoted to vice president at Apple. Jobs would tell the VP that if the garbage in his office was not being emptied, Jobs would naturally demand an explanation from the janitor. “Well, the lock on the door was changed,” the janitor could reasonably respond, “and I couldn’t get a key.” The janitor can’t do his job without a key. As a janitor, he’s allowed to have excuses. “When you’re the janitor, reasons matter,” Jobs told his newly minted VPs. “Somewhere between the janitor and the CEO, reasons stop mattering. “In other words, when the employee becomes a vice president, he or she must vacate all excuses for failure. A vice president is responsible for any mistakes that happen, and it doesn’t matter what you say.” Many people feel success or failure is caused by external forces, and especially by other people. If I succeed, other people helped me, supported me, and were “with” me. If I fail, other people let me down, didn’t believe in me, didn’t help me—other people were “against” me. To some extent, that’s true. But also not totally within your control. The only thing you can control? Yourself. So act as if success or failure is totally within your control: If you succeed, you caused it. If you fail, you caused it. As Jobs would say, “Reasons stop mattering.” Never make excuses. Never list reasons. And never point fingers. Unless, of course, you point them at yourself, and resolve that next time you’ll do whatever it takes to make sure things turn out the way you wish. Jobs’s thoughts on intelligence Jobs spent a lot of time thinking about the nature of intelligence, if only because it’s hard to surround yourself with smart people if you can’t identify smart people. So what did he feel was the best indication of high intelligence? According to Jobs: A lot of it is memory. But a lot of it is the ability to zoom out, like you’re in a city and you could look at the whole thing from the 80th floor down at the city. And while other people are trying to figure out how to get from point A to point B, reading these stupid little maps, you can just see it in front of you. You can see the whole thing. And you can make connections that seem obvious to you, because you can see the whole thing. No matter how much information you’re able to retain, memory doesn’t necessarily help you make decisions. (I know plenty of smart people who sometimes struggle to make simple decisions.) Jobs felt the smartest people excel at making connections. But you can’t make connections unless you collect a variety of experiences you can connect. As Jobs said: One of the funny things about being bright is everyone puts you on this path. To go to high school, go to college . . . [But] the key thing that comes through is they had a variety of experiences which they could draw upon in order to try to solve a problem, or attack a particular dilemma, in a unique way. What you have to do is get different experiences. To make connections which are innovative, to connect two experiences together, you have to not have the same bag of experiences as everyone else . . . or you’ll make the same connections. Try new things. Learn new things. Do things that aren’t comfortable; that’s a sure sign the experience—and what you may later draw from the experience, and be able to connect it to—is unique to you. Because it’s easy, even comforting, to learn more about something you already know. But then you’ll have the same “bag of experiences” and make the same street-level connections as everyone else. Jobs’s thoughts on money Wealth isn’t a proxy for intelligence. And definitely not for success. As Jobs said: When I was 25, my net worth was $100 million or so. I decided then that I wasn’t going to let it ruin my life. There’s no way you could ever spend it all, and I don’t view wealth as something that validates my intelligence. My favorite things in life don’t cost any money. Easy to say when you’re worth $100 million, but still. While money does a lot of things (one of the most important is to create choices), after a certain point research shows money doesn’t make people happier. To Jobs, the goal was to make a living by doing what he loved. How you define a “living” is up to you, but once you’ve reached that level of financial success, make sure you also work hard to include at least a little of the “love what you do” part. Because then you’ll be living the life you want to live. On your terms. —Jeff Haden This article originally appeared on Fast Company’s sister website, Inc.com. Inc. is the voice of the American entrepreneur. We inspire, inform, and document the most fascinating people in business: the risk-takers, the innovators, and the ultra-driven go-getters that represent the most dynamic force in the American economy. View the full article

Which segment will you target? By August Aquila MAX: Maximize Productivity, Profitability and Client Retention Go PRO for members-only access to more August J. Aquila. View the full article

Which segment will you target? By August Aquila MAX: Maximize Productivity, Profitability and Client Retention Go PRO for members-only access to more August J. Aquila. View the full article

If your browser of choice happens to be Firefox, good news: Your web surfing is about to get a bit more private. On Tuesday, Mozilla announced a number of upcoming updates to Firefox, all under the theme of user customizability. One such option happens to be a built-in VPN that Mozilla will offer users free of charge. This new VPN option in Firefox rolls out March 24, as part of Firefox 149. There are no downloads required, since the VPN is baked into the update: Once it hits your browser, you'll be able to turn on the VPN and start hiding your IP address and location while you use Firefox. The only caveat here is that Mozilla is capping VPN data usage at 50GB per month. The company doesn't say what happens once you hit that data limit, and I've reached out for clarification, but my guess is that the VPN will simply switch off, sending you back to Firefox's default browsing experience—at least until the next month starts, and your data limit resets. Why you should always use a VPNIf you use the internet without a VPN, you're being tracked (yes, even if you use an incognito window). Without a Virtual Private Network, your IP address is exposed to the internet. Trackers can follow you around the web, and your internet service provider can keep tabs on what you're doing. A VPN alone won't make you impervious to tracking, but it does go a long way—all without having much impact on your browsing experience. There are a lot of VPNs out there to choose from, and not all of them are equal. However, the general rule of thumb is to be wary of free VPNs. This is often a case of "you get what you pay for," as many free options aren't necessarily "upstanding." The companies aren't making any money off you directly, after all, so they may seek out data-sharing solutions to make money instead. As such, they may end up compromising your privacy in the end, defeating the purpose of the VPN in the first place. I don't see Firefox's free VPN raising those red flags, however. Mozilla has a better track record than most when it comes to user privacy, and, in fact, already offers a paid VPN. From where I'm sitting, adding a free, limited VPN to Firefox is only a win-win for Mozilla: The company gets points for boosting user privacy for free, and if those users are looking for more flexibility while preserving their internet anonymity, they can check out Mozilla's paid VPN option. What else is coming to Firefox in the next update?In its Tuesday post, Mozilla announced some other Firefox news in addition to its free VPN, including the following: Smart Window: This feature, previously called AI Window, uses AI to offer "quick help" while you browse, without actually leaving the page you're on. This help can include things like definitions, article summaries, and product comparisons. Mozilla says the feature is optional and opt-in, following the company's stance on opt-in-only AI features. Split view: This places two webpages side-by-side in the same window, following similar features in other browsers like Chrome. Tab notes: This feature lets you add notes to tabs, up to 1,000 characters. A note will stay attached to the webpage until you delete it, even if you close the tab. A new look: Firefox is teasing a "fresh new look," including updated themes, icons, toolbars, menu, and the homepage. View the full article

Welcome to AI Decoded, Fast Company’s weekly newsletter that breaks down the most important news in the world of AI. You can sign up to receive this newsletter every week via email here. The cost of AI will surely rise, along with our dependence on it Developing AI models and serving AI apps is a notoriously expensive undertaking. AI labs use massive amounts of computing power, training data, and high-priced talent to create and serve AI models, and the costs are not nearly covered by the chatbot subscription and API fees they bring in. Neither OpenAI nor Anthropic, for example, are profitable, and won’t be for some time. The difference, for now, is made up by investment money, much of it from venture capital firms. But that won’t last, of course. As AI companies mature, they’ll be expected to make returns on all the investment money they’ve taken. And the prices consumers and businesses pay for AI will almost certainly go up. It fits the model. Silicon Valley’s canonical playbook is to sell an app or service cheaply at first to build a large user base, then raise prices and, often, let the customer experience slip. In the early 2010s, for instance, Uber heavily subsidized fares with venture capital as it scaled its network of riders and drivers. In some markets, drivers received the full fare plus bonuses of up to 50%. By the late 2010s, as investors pushed toward a 2019 IPO, Uber began sharply increasing prices. Between roughly 2018 and 2022, fares rose by 50% to 80%, depending on the study, with further increases since. Many startups, including Amazon, Netflix, Airbnb, Instacart, and DoorDash, have followed versions of this model. Some of the same big VCs that funded these “growth-at-all-costs” companies are now bankrolling today’s AI companies. For example, Khosla Ventures and Sequoia Capital invested in Uber and are now backing both OpenAI and Anthropic, among other AI labs. Andreessen Horowitz (a16z) invested in Uber (and other Uber-like startups) and now backs OpenAI and numerous other AI app and infrastructure companies. The main difference between the Ubers of the past and the AI companies of today is that the AI companies also take investment money from their big tech business partners (like Microsoft and Nvidia) as well as from private equity giants like TPG and Bain Capital. I see another similarity. Kara Swisher once quipped that with the rise of Uber, Instacart, and other app-based services in the 2010s, San Francisco began to feel like “assisted living for millennials.” What she meant was that these companies offered a cheap—at least initially—way to outsource everyday physical tasks, from grocery shopping to getting around to making dinner or going out to a movie. You could sit on the couch, tap your phone, and it was done for you. The convenience was undeniable, and during the pandemic it often felt essential. But it also nudged people toward a more sedentary, phone-mediated existence. And, as with so many of these services, the costs eventually rose, claiming a larger share of users’ paychecks. AI chatbots and related tools may point to a similar, or even more troubling, trajectory. They can speed up information retrieval and automate a share of routine cognitive work. But as the major AI labs themselves have suggested, intelligence is becoming a commodity, something available on demand. The temptation, then, is to offload more and more of our own thinking and reasoning as these systems improve, outsourcing not just tasks but the mental effort behind them. MiniMax says its newest AI model helped build itself A new AI model from the Chinese AI startup MiniMax played a major role in its own development, the company says. The model, called MiniMax M2.7, can reportedly test itself on tasks and knowledge areas, diagnose its limitations, then improve itself automatically. MiniMax calls the concept “self-participation iteration.” MiniMax says M2.7 handled between 30% and 50% of its own development work. For example it ran more than 100 loops of self-analysis and debugging, then iterative self-improvement without human intervention. As a result, the model hit benchmark scores comparable with the best Western AI models. M2.7 scored 56% on SWE-Pro (a difficult, realistic coding benchmark), MiniMax says. OpenAI’s GPT-5.2 “Thinking” model scored roughly 55%, while Anthropic’s Claude Opus 4.5 scored 52%. Normally, AI labs rely on human engineers to design and run evaluations on models to find shortcomings, then make improvements that eventually packaged up into a new version release. The idea of a continually self-improving model calls into question the need for new product releases, and points to a time when models simply improve on their own over time. More AI coverage from Fast Company: OpenAI’s new frontier models mark a huge change in how AI will be built Does the public comment system have an AI problem? Miro’s CEO is betting AI will change how teams work This AI project turns deepfakes into a history lesson Want exclusive reporting and trend analysis on technology, business innovation, future of work, and design? Sign up for Fast Company Premium. View the full article

Google's Universal Commerce Protocol (UCP) is introducing new optional capabilities for merchants to support agentic commerce across the web.View the full article

You might decide to keep them going year round. By Sandi Leyva The Complete Guide to Marketing for Tax & Accounting Firms Go PRO for members-only access to more Sandi Smith Leyva. View the full article

You might decide to keep them going year round. By Sandi Leyva The Complete Guide to Marketing for Tax & Accounting Firms Go PRO for members-only access to more Sandi Smith Leyva. View the full article

Today's Bissett Bullet: “How are your clients, really?” By Martin Bissett See more Bissett Bullets here Go PRO for members-only access to more Martin Bissett. View the full article

Today's Bissett Bullet: “How are your clients, really?” By Martin Bissett See more Bissett Bullets here Go PRO for members-only access to more Martin Bissett. View the full article

It’s a tough time out there for creatives. Whether you’re a writer, director, actor, or artist of any kind, the world is short on opportunities—particuarly the kind that pay. But even Academy Award winners like screenwriter and director Barry Jenkins didn’t have a linear path to success, as he shared in a recent panel about how to sustain a career as a filmmaker. Jenkins, the writer-director behind Moonlight and If Beale Street Could Talk, was a panelist at “Behind the Chair: Representation and the Business of Filmmaking,” a seminar on the film industry hosted by the Directors Guild of America. In a one-on-one discussion with fellow director Anu Valia (We Strangers), Jenkins advised the audience on how to persevere in a crowded creative field. “Many of you guys are really, really good. You’re really strong directors, but there’s so many of you that are so strong,” he began. “When I think about what it takes to stay in a career as a director, as a feature film director, it is whatever the hell you need to do.” For Jenkins, that meant returning to a job in retail even after directing his first feature film. He recalled working on his feature-length debut Medicine for Melancholy, which released in 2008 to critical acclaim, including becoming a New York Times Critics’ Pick. “I made a movie for $15,000 with friends I went to film school with,” Jenkins said of the film. “I then worked at Banana Republic for three and a half years while I had a deal at Focus Features and an agent at CAA, because having a film on the year-end list at The New York Times doesn’t pay the rent.” In another ironic example, Jenkins said he was a food worker at one film festival while his work was playing at another: “I literally had a movie screening at the Toronto International Film Festival, and I was the concession stand manager at the Telluride Film Festival,” he shared. “You know why? [. . .] I just wanted to be where cinema was.” By all accounts, Jenkins is a runaway success story. He’s achieved many filmmakers’ dreams, having won the Oscar for Best Adapted Screenplay for his 2016 film Moonlight, which was also named that year’s Best Picture, and being nominated twice more as a director and screenwriter. He’s gone the blockbuster route too, directing Mufasa: The Lion King for Disney in 2024, which was the sixth-highest-grossing film of that year with $723 million at the box office. To hear that someone as successful as Jenkins still had to balance his creative career with other work to get by hit home for many aspiring artists, who expressed on social media how his advice is both reassuring and sobering. One user wrote that hearing Jenkins’ story while at their own survival job was “kinda life affirming.” Another echoed that sentiment: “Seeing this after getting home from the Day Job . . . was needed,” they wrote. Another user praised Jenkins for “openly speaking about the most elusive topic in filmmaking”: where their money actually comes from. “People are mum about it. He’s brave,” they added. Check out Jenkins’ full conversation below. View the full article

Google's Universal Commerce Protocol adds cart management and catalog access, highlights identity linking support, and begins simplifying Merchant Center onboarding. The post Google Expands UCP With Cart, Catalog, Onboarding appeared first on Search Engine Journal. View the full article