In the month of July, inflation in the United States saw a decline, primarily driven by easing price pressures for essential consumer goods and services such as food, energy, and housing. The consumer price index (CPI), a crucial measure of inflation, recorded a 2.9% increase from the previous year. This data signifies a decrease from
Real Estate
The U.S. has experienced a construction boom that has had a significant impact on rental markets across the country. As a result of record-construction activity since the pandemic, the supply of empty units has increased, leading to more apartment inventory being available for renters. Multifamily units completion reached a peak in June, surpassing any other
As of the end of the first quarter of 2024, homeowners collectively hold $17 trillion in equity, with the average homeowner gaining $28,000 compared to the previous year. While this may seem like a substantial amount of money, it is essential to make wise decisions when it comes to tapping into this equity. Home equity,
Despite the U.S. economy showing remarkable strength, withstanding inflation and high interest rates, a recent survey by Affirm found that 59% of Americans believe the country is currently in a recession. This misconception is fueled by the challenges of higher costs and difficulties in making ends meet, leading many to believe that a recession started
As the presidential election approaches, voters are closely scrutinizing the personal finance policies of the candidates and their running mates. The recent announcements of Vice President Kamala Harris’s running mate, Minnesota Gov. Tim Walz, and former President Donald Trump’s choice, Sen. JD Vance of Ohio, have shed light on the economic agendas of both parties.
The recent drop in mortgage interest rates to the lowest level since May 2023 has caused a significant surge in mortgage demand, attracting both homebuyers and existing homeowners. The Mortgage Bankers Association reported a 6.9% increase in total mortgage application volume last week, reaching the highest level since January of this year. The average contract
The dream of owning a home is deeply ingrained in the American psyche, but the hidden costs associated with homeownership can be a financial burden for many. Inflation is causing home prices to rise faster than incomes, making it difficult for homeowners to keep up with the escalating expenses. More than 1 in 4 homeowners
The recent decrease in mortgage rates has caught the attention of many home buyers and industry experts alike. According to Mortgage News Daily, the average rate on a 30-year fixed mortgage dropped significantly to 6.4%, marking the lowest rate since April 2023. This abrupt decline was fueled by a weaker-than-expected monthly employment report, causing bond
The recent decision by the Bank of England to cut interest rates has sparked a wave of mortgage rate reductions by major high street lenders in Britain. HSBC, Santander, Nationwide, Barclays, Metro Bank, Lloyds, Halifax, and more have all lowered their borrowing costs following the BOE’s announcement. This move is seen as a positive sign
Building up the middle class is a crucial goal for any administration to ensure the strength of the nation as a whole. Vice President Kamala Harris has been vocal about her intentions to prioritize the middle class during her presidency. An important proposal that she advocated for during her first presidential bid in 2020 and