Inflation in the United States continued to decrease in July, largely driven by a reduction in price pressures on consumer staples like food and energy, as well as physical goods such as new and used cars. The consumer price index (CPI), a crucial measure of inflation, rose by 2.9% in July compared to the previous
Real Estate
The recent construction boom in the United States has had a significant impact on the rental market, leading to lower rents and other benefits for renters. With a record level of construction activity since the pandemic, the supply of empty units has increased, resulting in more inventory being available for renters across the country. According
Homeowners today are sitting on an impressive $17 trillion in equity, marking an average gain of $28,000 compared to the previous year. This equity represents a valuable asset that can be tapped into for various financial needs, making it a significant source of wealth for many individuals. Despite the substantial value it holds, experts like
Contrary to the prevailing belief held by a majority of Americans, the U.S. economy has not succumbed to a recession. Despite facing challenges such as inflation and high interest rates, the economy has managed to remain robust. According to a survey conducted by Affirm in June, 59% of respondents falsely perceive the country to be
With the 2024 election season in full swing, all eyes are on the candidates as they unveil their personal finance policies that could have a direct impact on the wallets of American voters. Vice President Kamala Harris recently announced her running mate, Minnesota Gov. Tim Walz, while former President Donald Trump selected Sen. JD Vance
The recent decrease in mortgage interest rates has sparked a surge in demand for mortgages, both from homebuyers and current homeowners looking to refinance. Mortgage application volume rose significantly last week, reaching the highest level since the start of the year. The average contract interest rate for 30-year fixed-rate mortgages also dropped to a new
In the wake of record inflation rates, homeowners are facing significant challenges that have many questioning the value of homeownership as an investment. The steady increase in home prices, outpacing income growth, has become a major concern for homeowners. A startling statistic from a 2023 analysis by the Chamber of Commerce reveals that more than
The recent decrease in mortgage rates has been significant, with the average rate on the 30-year fixed mortgage dropping to 6.4%, the lowest it has been since April 2023. This drop was in response to a weaker-than-expected monthly employment report, which caused bond yields to fall rapidly. The 15-year fixed rate also fell to 5.89%,
Recently, major high street lenders in Britain have started reducing their mortgage rates, signaling a potential easing of financial pressure on households. This move comes shortly after the Bank of England decided to lower its Bank Rate to 5% from a 16-year high of 5.25%. Lenders such as HSBC, Santander, and Nationwide have already cut
Vice President Kamala Harris recently expressed that building up the middle class will be a crucial focus of her presidency. She emphasized that a strong middle class translates to a strong America. Harris believes that families need relief from the high cost of living to not only survive but thrive. Her proposed policy, the “LIFT