Gas prices set to soar as temperatures heat up: AAA
Drivers will not be able to reduce their gas costs as prices tend to rise. (iStock) Gasoline prices rose again this week, but are unlikely to fall as temperatures rise and manufacturers switch to more expensive summer blend fuels, according to the latest AAA. report. The national average cost of a gallon of gasoline rose […]
Mortgage rates continue to drop as spring brings more inventory: Freddie Mac
Mortgage rates fell to an average of 6.74% for 30-year mortgages. (iStock) 15-year and 30-year mortgage rates fell from last week, Freddie Mac reported. “30-year fixed-rate mortgages are down again this week, bringing the total down by almost a quarter of a percentage point after two weeks,” said Sam Cater, chief economist at Freddie Mac. […]
This week’s personal loan rates edge down for 3-year loans, rise for 5-year loans
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Tax refunds are nearly 29% lower so far this year, IRS data shows
Average refunds are decreasing due to later filing dates and fewer returns filed. (iStock) This year’s tax refund amount for early taxpayers is decreasing. His average refund for the first few weeks of tax filing season is $1,395. IRS data showed. Last year, the average refund within the first few weeks of filing was $1,963. […]
Student loan payments hinder retirement savings – Here’s how employers are helping
Student loans are getting in the way of Americans’ ability to save for retirement, a new study finds. (iStock) A recent study shows that student loan payments are getting in the way of building retirement savings for some Americans, especially those with higher salaries. Americans who pay student loans have lower contribution rates and lower […]
Inflation rises as gas prices and housing costs tick up, leaving Americans concerned
Both the gasoline index and the housing index rose in February. (iStock) Inflation is rising again, mainly due to rising gas prices and housing costs. for the past 12 months, consumer price index The U.S. Bureau of Labor Statistics reported that the consumer price index (CPI) for all items increased by 3.2%. This was a […]
High debt is causing more consumers to live paycheck-to-paycheck
Approximately 60% of consumers live paycheck to paycheck, primarily through debt and inflation. (iStock) Many workers are living paycheck to paycheck, with around one in three citing debt as one of the main reasons. According to a PYMNTS study. As of December, 60% of survey respondents said they were living paycheck to paycheck. This is […]
Here’s where Americans are being stretched to the limit to buy a home
Home prices continue to rise, with some buyers seeing their home prices double, according to the National Association of Realtors. (iStock) Home prices increased in 86% of metropolitan areas nationwide, and the median price of single-family existing homes nationwide rose 3.5% year over year to $391,700. For buyers currently on the market, this means home […]
These 5 states rake in the most Social Security benefits
Nearly three in five seniors collecting Social Security benefits are experiencing financial hardship. (iStock) Inflation and rising prices are taking a toll on the growth of retirement savings, and many Americans who rely on Social Security benefits are struggling to make ends meet. As of January 2024, the average Social Security retirement benefit for all […]
Nearly 32% of homes sold last quarter were new construction: Redfin
Newly built homes are increasing as there are not many older homes listed. (iStock) New construction homes continue to grow in popularity, largely due to the lack of older homes on the market. In the fourth quarter, 31.8% of single-family homes for sale were new construction. According to a Redfin report. This is down slightly […]