The week in review

•   Janet Yellen reaffirmed the June 1 debt ceiling deadline on Sunday. The Treasury Secretary insisted Washington has until early next week to reach a resolution or short-term extension to avoid default.

•   Minneapolis Fed President Neel Kashkari said he is open to a pause in interest rate raises at the next meeting. However, he cautioned that a pause wouldn’t necessarily indicate the hiking cycle is over — simply that the Fed is waiting on more information. Markets are currently pricing a 77% chance of a pause at the June 14 meeting.

•   NVIDIA (NVDA) is on track to become the first trillion-dollar chip company after riding the artificial intelligence boom. The chipmaker saw its shares jump almost 30% after reporting a sizable beat on top-and-bottom lines and guidance about 50% higher than initial estimates. NVIDIA’s advanced GPUs have made it a major benefactor of the growing demand for AI, evidenced by its 14% increase in data center sales. Its valuation makes the chip company nearly double the size of its second-largest competitor, Taiwan Semiconductor (TSM).

For more economic news, visit On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Buying a home: how to search smarter

Are you ready to start your hunt, whether for a cute Colonial or a sleek Mid-century Modern? Here’s how to get going:

•   Roll up your sleeves and research. Compare housing options and values online. Get a feel for prices and property taxes, which are an important part of the home affordability equation.

•   Consider working with a real-estate agent to guide you through the process and share insights about market conditions.

•   Don’t forget: Make sure you have funds available for a down payment once you have an accepted offer.

Use our home affordability tool to estimate what price range of house you can shop for to cover closing costs, mortgage, and additional fees and taxes.

This week's top stories

Are ghost jobs haunting your job search?
"Ghost jobs" create a false sense of opportunity in the job market. Here's what you need to know about this phantom menace — and how to bust through it in your own job search.
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Renting has become a necessity for many. But the new trend of BFR across the market is making renting even more attractive.
Built-for-rent housing is reshaping the rental market by closing the gap between the luxury of neighborhoods and the affordability of rental living.
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Is your freelance gig starting to feel like a full-time job without the perks?
The distinction between freelancers and remote employees is increasingly blurring. Time to know your rights and how to navigate the changing landscape.
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Deep dives from SoFi Learn

Is it more important to pay down debt than to save money?
Paying down debt is a smart financial move, but so is increasing your emergency savings. Choosing which to tackle first really depends on your financial goals.
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You don’t need a particular down payment amount, salary, or a credit score over 700 to become a homeowner. What you do need is insight into the process, preparation, and a game plan.
To help you move ahead with your home-owning dreams, read this guide.
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Ready to make an offer on a house? Here are 10 tips for writing a real estate offer letter.
Boost your chances that the seller will choose you by learning to write a successful real estate offer letter.
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