[ad_1] The war against inflation was never going to be easy, but the latest consumer price index data demonstrates just how tough a fight the Federal Reserve is facing. In the months ahead, the outcome of that battle will have major implications for your finances. New labor data shows that U.S. prices in March rose 3.5% … Read more
[ad_1] Although the housing market traditionally thaws every spring, aspiring homebuyers may want to consider an extended hibernation given what is an exceptionally tough market this year. Home prices last year rose an average of 6.7% in the country’s 20 biggest metro areas, according to the latest S&P CoreLogic Case-Shiller data. Across the nation as … Read more
[ad_1] A top question on the minds of investors and consumers alike is when might the Federal Reserve make its first interest rate cut after two years of rapid hikes, which have sent mortgage and credit card rates soaring. But after Tuesday’s hotter-than-forecast inflation report, economists have a partial answer: Expect to wait longer. Even … Read more
[ad_1] High rents leave many financially stretched – CBS News Watch CBS News While rents have been easing for the past few months nationwide, prices are still up significantly compared to before the pandemic, largely due to inflation. Providence, Rhode Island, saw one of the highest rent increases in the U.S. last year, and according … Read more
[ad_1] Wall Street closes out week on record upswing – CBS News Watch CBS News The big picture on Wall Street is that it’s been a solid stretch for the American economy. But for those hoping to buy a home, pay rent, or afford groceries, it’s not all quite as rosy. Be the first to … Read more
[ad_1] Mortgage rates rose to highest level in 23 years in 2023 Mortgage rates rose to highest level in 23 years in 2023 03:28 A growing number of American expect mortgage rates to fall this year. According to a new survey from Fannie Mae, as of December some 31% of consumers think that borrowing costs … Read more
[ad_1] Mortgage rates are creeping lower after soaring this fall to their highest level in more than two decades. The interest rate on a typical fixed 30-year loan is now 6.8%, its lowest level since June, the Mortgage Bankers Association said Wednesday. That’s down from 7.1% a week earlier and from 8% in October, the … Read more
[ad_1] New real estate data shows sellers incurring more losses, sales down New real estate data shows sellers incurring more losses, sales down 02:14 Homebuyers faced a tough real estate market this year, with home prices continuing their upward march and mortgage rates reaching their highest levels in more than 20 years. Making matters worse, … Read more
[ad_1] You don’t have to be a millionaire to buy a home, but earning six figures would help. The typical American household needs an annual income of $115,000 to afford the median priced home, which is $40,000 more than what the average household makes, according to Redfin chief economist Daryl Fairweather. “Even places that historically … Read more
[ad_1] With inflation and interest rates remaining elevated, some U.S. homeowners are having trouble keeping up with their mortgage payments. The average interest rate for a conventional 30-year fixed-rate mortgage now hovers around 8%, its highest level since 2000. Homeowners struggling to make their monthly loan payments have several options. Request forbearance Your lender or loan servicer can grant forbearance, … Read more