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Real Estate

“Mortgage refinance demand is 94% higher than a year ago, as interest rates fall again”

“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.43% from 6.44% Applications for a mortgage to purchase a home did rise 3% for the week but are still 4% lower… Continue Reading…

Economy

“Key Fed inflation measure rose 2.8% in March from a year ago, more than expected”

“…“Inflation reports released this morning were not as a hot as feared, but investors should not get overly anchored to the idea that inflation has been completely cured and the Fed will be cutting interest rates in the near-term,” said… Continue Reading…

Economy

“Consumer prices rose 3.5% from a year ago in March, more than expected”

“…The CPI, a broad measure of goods and services costs across the economy, rose 0.4% for the month, putting the 12-month inflation rate at 3.5%, or 0.3 percentage point higher than in February, the Labor Department’s Bureau of Labor Statistics reported Wednesday. Economists… Continue Reading…

Business, Stocks

“Tesla shares fall after deliveries drop 8.5% from a year ago”

“Tesla shares fell on Tuesday after the company reported a drop in vehicle deliveries in the first quarter, the first annual decline since 2020, when the global pandemic disrupted production. Here are the key numbers: Total deliveries Q1 2024: 386,810Total production… Continue Reading…

Economy

“Consumer prices rose 0.4% in February and 3.2% from a year ago”

“… …” https://www.cnbc.com/2024/03/12/cpi-inflation-report-february-2024-.html

Economy

“Key Fed inflation measure rose 0.4% in January as expected, up 2.8% from a year ago”

“… …” https://www.cnbc.com/2024/02/29/pce-inflation-january-2023-.html Inflation is up and unfortunately its going to get worse. Banks are going to have some major problems in March. This doesn’t bode well for the economy.

Economy, Energy

“Gasoline is cheaper now than a year ago — and could fall below $3”

“Gasoline prices are now cheaper across the U.S. than they were a year ago, and the price per gallon could fall below $3 for most Americans by the end of the year. According to AAA, the national average for a gallon… Continue Reading…

Economy, Personal Finance

“66% of American workers are worse off financially than a year ago due to inflation, report finds”

“…As inflation pressures continue, two-thirds of working adults said they are worse off financially than they were a year ago, according to a recent report by Salary Finance. To make ends meet, many are dipping into their cash reserves or going into debt.… Continue Reading…

Real Estate

“30-year mortgage rate surges to 6.28%, up from 5.5% just a week ago”

“Mortgage rates jumped sharply this week, as fears of a potentially more aggressive rate hike from the Federal Reserve upset financial markets. The average rate on the popular 30-year fixed mortgage rose 10 basis points to 6.28% Tuesday, according to Mortgage News Daily. That… Continue Reading…

Economy

“Inflation barreled ahead at 8.3% in April from a year ago, remaining near 40-year highs”

“…The consumer price index, a broad-based measure of prices for goods and services, increased 8.3% from a year ago, higher than the Dow Jones estimate for an 8.1% gain. That represented a slight ease from March’s peak but was still close… Continue Reading…