January home prices show steady annual gain, but month-to-month comparison tells another tale: Case-Shiller
Home prices are stable, but increased supply could help buyers. (iStock) The latest S&P CoreLogic Case-Shiller index shows home prices posted further gains in January, but prices are still slightly lower month-over-month. report. House prices are now 6% above levels at this time last year and up from 5.6% in the previous month. The 10-city […]
Consumers spend more than $1 trillion on interest payments, largely due to increasing credit card debt
Credit card debt will account for half of all interest paid in the final quarter of 2023. (iStock) Interest payments for U.S. consumers are orders of magnitude higher. Last quarter, consumers spent a record $1.1 trillion on interest payments alone. reported quartzusing data from the U.S. Bureau of Economic Analysis (BEA). More than half of […]
Home listings are rising, but buyers aren’t buying due to high interest rates
The number of home listings recorded the largest increase in the past three years. (iStock) As of the end of February, the number of housing listings had increased by 13% compared to the previous year. According to a Redfin report. This is his biggest increase in three years. The total inventory in the market has […]
Some student loan borrowers are getting refunds on top of loan forgiveness, here’s who qualifies
Borrowers who have been paying their loans for more than 20 years may be eligible for a refund. (iStock) Some student loan borrowers who have been making payments under income-based repayment and forgiveness programs for more than 10 years have yet to receive promised forgiveness. To rectify this, the Biden administration is offering its forgiveness, […]
Mortgage lending took a huge dip in Q4, but there’s hope for spring housing: report
Housing supply is improving as the spring home buying season approaches. (iStock) Mortgage lending continued to decline significantly in the fourth quarter of 2023, but recent reports indicate that things are starting to turn around. According to the newspaper, soaring house prices, soaring borrowing costs and weak housing supply have pushed lending rates to their […]
Gas prices rise as spring season approaches: AAA
Gasoline prices rose by double digits as crude oil prices rose slightly. (iStock) Spring is finally here, and gasoline prices are expected to rise. Gasoline prices rose an average of 11 cents this week, according to AAA. Weekly report. The average gas price is currently $3.52 per gallon. “Gasoline prices are very similar to seasonal […]
Use these five expert strategies to build your emergency savings fund
Former Gartman Letter editor Dennis Gartman and John Wronsky of the Wronsky Group talk about Reddit’s stock debut and the Fed’s expected rate cut. Having an emergency fund should be a top priority for Americans to cover unexpected and emergency expenses. Experts recommend that you should save up several months’ worth of living expenses in […]
Mortgage rates crawl toward 7% but market optimistic: Freddie Mac
Higher mortgage rates weren’t enough to dampen the mood in the housing market last week. (iStock) Mortgage rates hit a new high this week, but the slow rise to 7% does not dampen hopes for home construction and lower borrowing costs this year, Freddie Mac said. The average interest rate on a 30-year fixed-rate mortgage […]
This week’s personal loan rates edge up for 3-year loans, plunge for 5-year loans
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Fed said interest rates will be reduced this year, just not now
The Fed has disclosed little in recent meetings. (iStock) federal reserve system stayed the courseannounced that it would do nothing about interest rates, but would still start lowering them later this year. The central bank announced Wednesday that it would keep the federal funds rate at 5.25% to 5.5%. Fed officials expect at least three […]