MORE good news for homebuyers! Mortgage rates drop below 7% for the first time since early August (and sellers are cutting asking prices too)

MORE good news for homebuyers! Mortgage rates drop below 7% for the first time since early August (and sellers are cutting asking prices too)

By Helena Kelly Assistant Consumer Editor For Dailymail.Com Updated: 22:17 GMT, 14 December 2023 Mortgage rates have fallen below 7 percent for the first time since early August in a welcome boost for homebuyers.  The average rate on a 30-year fixed mortgage is now 6.95 percent, down from 7.03 percent last week, according to figures … Read more

Are we REALLY entering a ‘stock pickers paradise’? Bank of America issues optimistic research note claiming stock market will reach record highs next year – but not all experts agree

Are we REALLY entering a ‘stock pickers paradise’? Bank of America issues optimistic research note claiming stock market will reach record highs next year – but not all experts agree

Bank of America strategists have predicted stocks will hit record levels next year.  Savita Subramanian, the bank’s head of US equity and quantitative strategy, wrote in a note Tuesday that she sees the S&P 500 index ending 2024 at 5,000.  That would be an all-time high for the market index, which tracks the stock performance … Read more

US stocks experienced their best day since APRIL after inflation cooled to 3.2 percent – bolstering investors’ confidence but fears arise over alarming ‘death cross’ pattern in the market

US stocks experienced their best day since APRIL after inflation cooled to 3.2 percent – bolstering investors’ confidence but fears arise over alarming ‘death cross’ pattern in the market

US stocks experienced their best day since April following the news that the annual rate of inflation fell slightly to 3.2 percent.  Investors are hopeful the cooling of consumer prices signals an end to the Federal Reserve‘s aggressive interest rates hikes which has taken them from a low of 0.5 percent in April 2020 to a 22-year … Read more

US has 2MILLION more retirees than predicted as COVID shutdowns lead elderly to quit work and leave employers scrambling to fill rolls

US has 2MILLION more retirees than predicted as COVID shutdowns lead elderly to quit work and leave employers scrambling to fill rolls

Pandemic-era rush to retirement still showing little sign of slowing  But tightening labor market has left employers scheming to bring them back By Dominic Yeatman For Dailymail.Com Published: 05:42 GMT, 7 November 2023 | Updated: 08:04 GMT, 7 November 2023 A wave of retirements has hit the US leaving companies scrambling to fill roles and … Read more

What you should be investing in as interest rates appear to peak

What you should be investing in as interest rates appear to peak

By Tilly Armstrong Assistant Consumer Editor For Dailymail.Com Updated: 20:00 GMT, 7 November 2023 Interest rates may have reached their peak in the US, according to experts, which means investors may be thinking about how this could impact their portfolio – and how they can take advantage.  The Federal Reserve announced at its latest meeting … Read more

America’s debt timebomb: Credit card balances shot up by $48BILLION in the third quarter of the year as overall debts swell to $17TRILLION

America’s debt timebomb: Credit card balances shot up by $48BILLION in the third quarter of the year as overall debts swell to $17TRILLION

US household total debts have risen by $228 billion to $17.3 trillion, figures show The uptick was driven by soaring credit card debts which shot up $48 billion Borrowing costs are at a 22-year high after Fed repeatedly raised interest rates  By Helena Kelly Assistant Consumer Editor For Dailymail.Com Updated: 22:31 GMT, 7 November 2023 … Read more

REVEALED: How Americans are now getting paid to do LESS thanks to rise in family leave, sick leave and paid vacation

REVEALED: How Americans are now getting paid to do LESS thanks to rise in family leave, sick leave and paid vacation

Americans are being offered more vacation, as well as sick and family leave A gap has emerged between the hours they are paid and the hours they work Last decade 12 percent of workers were offered family leave – this year it was 27 percent By Neirin Gray Desai Consumer Reporter For Dailymail.Com Updated: 14:48 GMT, 31 … Read more

Are YOU richer than your neighbors? Fascinating study shows the amount needed to be in the top 5% of each state

Are YOU richer than your neighbors? Fascinating study shows the amount needed to be in the top 5% of each state

What it takes to be in the top 5 percent of earners in each state varies hugely across the US, a landmark new report lays bare.   Connecticut requires the highest income of any state to make the top 5 percent, according to a study by GOBankingRates.  Residents will need to earn a pre-tax household income of … Read more

Housing market is headed for a 1980s-style recession, Wells Fargo warns, thanks to ‘higher for longer’ interest rates

Housing market is headed for a 1980s-style recession, Wells Fargo warns, thanks to ‘higher for longer’ interest rates

Economists compared today’s situation to the downturn of the 1980s Mortgage rates are at a multi-decade high and are edging towards 8 percent  A ‘higher for longer’ interest rate environment would impact home construction By Tilly Armstrong Assistant Consumer Editor For Dailymail.Com Updated: 22:10 GMT, 31 October 2023 Soaring mortgage rates and the Federal Reserve‘s … Read more

Average annual family health insurance plan has soared to $24,000 – the cost of a small CAR – as inflation pushes up premiums

Average annual family health insurance plan has soared to $24,000 – the cost of a small CAR – as inflation pushes up premiums

The cost of health insurance jumped this year by the biggest amount since 2011 – as inflation continues impact all corners of the US economy. A 7 percent jump in the cost of an employer-sponsored family plan brought the average premium to nearly $24,000, according to an annual survey by healthcare research nonprofit KFF. And employees have … Read more