January 4, 2023
“…Mortgage application volume was down 13.2% at the end of last week from two weeks earlier, according to the Mortgage Bankers Association’s seasonally adjusted index. The MBA was closed last week due to the holidays. The average contract interest rate… Continue Reading…
November 4, 2022
“…Nonfarm payrolls grew by 261,000 for the month while the unemployment rate moved higher to 3.7%, the Labor Department reported Friday. Those payroll numbers were better than the Dow Jones estimate for 205,000 more jobs, but worse than the 3.5% estimate… Continue Reading…
October 24, 2022
“The ongoing spread of bird flu will likely affect the price and availability of turkeys this Thanksgiving. Right now the price per pound of an 8 to 16 pound turkey is $1.99, up from $1.15 last year, according to USDA data. This is a 73% increase…… Continue Reading…
October 5, 2022
“The highest mortgage rates in more than 20 years coincided with one of the deadliest hurricanes on record in the United States, both contributing to a steep drop in mortgage demand. Total mortgage application volume fell 14.2% last week compared… Continue Reading…
August 4, 2022
“The International Monetary Fund warned European governments against intervening in the region’s worsening energy crisis with broad-based financial support, saying instead that consumers should bear the brunt of higher prices to encourage energy saving and aid the wider shift to… Continue Reading…
August 2, 2022
“US household debt increased by 2% to $16.2 trillion in the second quarter, with mortgages, auto loans and credit-card balances all seeing sizable increases, according to a report by the New York Federal Reserve Bank. The increase in borrowing, which… Continue Reading…
June 9, 2022
“EDITOR’S NOTE: Social Security beneficiaries may see the largest cost-of-living adjustment (COLA) since 1981. COLA is projected to increase by 8% in 2023, giving beneficiaries a strong boost in their monthly Social Security benefits, hopefully enough to counter the effects of… Continue Reading…
March 23, 2022
“Even though they’re still flush with cash from the booming market, wealthier people are increasingly worried about the economy, especially inflation. What’s happening: In March, consumer confidence dropped 7.2% for those earning more than $100,000 — a much larger dip than… Continue Reading…
January 14, 2022
“…The advance monthly sales report to close out the year showed a decline of 1.9%, considerably worse than the Dow Jones estimate for just a 0.1% drop. Excluding autos, sales fell 2.3%, a number that also fell well short of… Continue Reading…
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