Home Buyers Remain on Strike, Housing Market Still Frozen as Prices Are Too High, Mortgage Rates Still 7%
Estimated Reading Time: 2 minutes Powell to Congress: Higher rates are “the absolute best thing we can do for the housing market…” – “…particularly for younger people who are not yet in the housing market.” However we want to interpret this, it’s fascinating. Powell told Congress on Tuesday: “There’s no question that higher interest rates […]
Stamp prices skyrocket for second time in 2024
The United States Postal Service (USPS) will raise postage prices again on Sunday, its second increase in 2024 and tying the record for the largest price hike in history. Starting Sunday, first-class Forever stamps will cost 73 cents each, up 5 cents from the current 68 cents, or 7 percent. The only other time a […]
Home prices hit another high while mortgage rates drop slightly
Mortgage rates fell from 6.95% to 6.89% last week. (iStock) Mortgage rates continue to fluctuate, declining slightly from last week when average rates were close to 7%. The average rate for a 30-year fixed-rate mortgage was 6.89% as of July 11. Freddie Mac is. Currently, interest rates on 30-year mortgages are lower than they were […]
Gas prices: Costs increase for the third straight day
Gas prices increased again this week, marking the third straight day that the average cost for a gallon of regular gas went up. It costs $3.544 per gallon for regular gas on Thursday, according to AAA. This was slightly higher than yesterday’s price of $3.538 per gallon. Prices have increased nearly four cents per gallon […]
Gold prices steady above $2,400 as soft CPI data fuels rate cut bets – Investing.com
Investing.com — Gold prices were slightly lower in Asian markets on Friday but were still up sharply from the previous day’s trading after weaker-than-expected U.S. inflation data strengthened expectations of a rate cut in September. Gold prices benefited from a sharp drop in the dollar on Thursday, breaking through the closely watched $2,400 an ounce […]
How it started … How it’s going: Inflation down in June, but food, housing prices still up under Biden
“The Big Money Show” co-host Brian Bremberg breaks down the latest inflation data and discusses California’s $20 minimum wage hike. President Biden Though prices remain uncomfortably high for millions of Americans, the U.S. government celebrated a victory on Thursday after inflation fell to its first decrease in four years. The U.S. Department of Labor said […]
Consumers Finally Get Some Relief From Inflation As Prices Decline for First Month Since 2020
Consumers are experiencing their first relief from inflation since the peak of the 2020 pandemic. In an unexpected development, the Labor Department said on Thursday that prices for consumer goods and services fell in June. The big drop signals a recent slowdown in inflation and is raising hopes that the Federal Reserve may sharply cut […]
Gas prices: Costs soar with second straight day of increases
The cost of gas continues to soar as the average price for a gallon of regular gas rose for the second straight day. The latest increases negate the minimal decrease Americans experienced over the July 4th weekend. Prices are now less than a penny cheaper than last year at this time. The average price for […]
Gold prices advance, rate cuts in focus as CPI data looms – Investing.com
Investing.com — Gold prices rose in Asian markets on Thursday, helped by a decline in the dollar and Treasury yields on growing expectations of a U.S. interest rate cut ahead of the release of a key inflation reading. Gold edged higher this week, buoyed by reports that emerging market central banks are stockpiling the metal, […]
Oil Prices Perk Up on Crude Draw – OilPrice.com
Crude oil prices rose today following the release of the U.S. Energy Information Administration. report Inventories fell by 3.4 million barrels in the week ending July 5. This compares with a much larger drop of 12.2 million barrels the previous week. The American Petroleum Institute reported on Tuesday that inventories were estimated to have fallen […]