US first quarter GDP slows more than expected, but inflation keeps rising
The latest GDP statistics show that the economy remains strong, but growth is slowing. (iStock) US gross domestic product (GDP) fell faster than expected first quarterBut a key measure used by the Federal Reserve to measure inflation continued to rise, according to the Bureau of Economic Analysis (BEA). Real GDP grew at an annualized rate […]
Private student loan interest rates continue upward surge
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A majority of student loan borrowers are worried about their ability to repay their loans
Approximately 94% of borrowers are concerned about whether they will be able to repay their student loans. (iStock) Student loan debt has been a topic of debate among Americans for years, as debt continues to rise. According to , the nation’s total student loan debt currently stands at $1.6 trillion. Federal Reserve Bank of New […]
Middle-income Americans feel more optimism about finances and economy’s direction: survey
Middle-income Americans may be earning more from their savings, according to a recent Santander study. (iStock) A recent Santander newspaper found that while inflation remains a top concern, middle-income Americans say they are used to higher prices and feel better able to manage their finances. investigation. Additionally, many Americans are beginning to accept a high […]
Millions have moved out of certain parts of the country now designated “Climate Abandonment Areas”
3.2 million people have been evacuated from certain areas of the country due to climate change. (iStock) Floods are frequent, and even as neighborhoods are rebuilt, the damage remains permanent. Certain areas of the country are considered “climate abandonment areas.” Studies show that these regions are completely losing large parts of their populations due to […]
76% of buy now, pay later users said it helped improve their financial situation but beware of risks: survey
According to a recent Achieve study, one way to make ends meet with your BNPL account is to track it. (iStock) Recent research shows that while more consumers are using buy now, pay later (BNPL) services and are attracted to their ease of access, they are at risk of overusing them. I am. According to […]
More than a third of Gen Z, Millennials seek help from their parents to afford a house down payment
Starter home prices have increased by 45% since the COVID-19 pandemic. (iStock) Gen Z and Millennial home buyers are having a hard time purchasing a home on their own. Approximately 36% of young buyers plan to receive a cash gift from a family member as a down payment on a home. Redfin research found. The […]
Gas prices crept up this week, but not by much as oil prices fell
The average price for a gallon of gas this week was $3.67. (iStock) The average price Americans pay at the pump rose last week, but only by 4 cents. AAA reported. Drivers paid an average of $3.67 per gallon, which is 21 cents more than this time last year. Prices have increased slightly due to […]
Mortgage rates sail past 7% as market moves into critical spring homebuying season
Mortgage rates rose to new highs this week, but buyers are adjusting. (iStock) Mortgage interest rates have climbed above 7%, which is likely to dampen the appetite for home buyers during the market’s key spring home buying season, Freddie Mac said. The average interest rate on a 30-year fixed-rate mortgage was 7.10% for the week […]
Higher March inflation boosts Social Security COLA forecast for 2025
Rising inflation means higher cost-of-living adjustments (COLAs), but seniors worry it won’t be enough to make ends meet. (iStock) The Senior Citizens League (TSCL) recently said that a spike in inflation in March means seniors receiving Social Security benefits could face high cost-of-living adjustments (COLAs) in 2025. stated in the report. report. Inflation rose faster […]