True inflation may have peaked in late 2022 — at 18% — and still hovers around 8%
“Consumer borrowing costs in the U.S. have skyrocketed, but the CPI doesn’t count this. ” There are widely divergent perspectives between Wall Street, where exuberance...
Is there a subprime credit-card crisis on the horizon?
Subprime consumers are falling behind on their credit-card bills. From Generation Z and millennials to Generation X and baby boomers, credit-card delinquency rates have been...
Cash will become ‘less useable’ as high street goes contactless, says Bank of England
As cash continues to decline, new, non-bank financial institutions are likely to start issuing private money such as stablecoins – a type of cryptocurrency that...
‘Living paycheck-to-paycheck has become the norm’: Inflation takes its toll on American finances as emergency funds run dry
Inflation is taking its toll on people’s emergency funds. The share of workers who say they are living paycheck-to-paycheck has surged among middle- to high-income...
‘Savings are gonna run out’: Already battered by high inflation, Fed’s rate hike will hit lower-income and rural Americans hard
The Federal Reserve hiked its benchmark rate by 0.75 percentage points on Wednesday in an effort to temper the rising costs of consumer goods and...
‘The pandemic boom in home sales is over’: Mortgage rates soar to highest level since 2009 as the Fed pressures the housing market
Mortgage rates are skyrocketing thanks to the Fed, but buyers who can tough out this difficult, changing market will be rewarded. The 30-year fixed-rate mortgage...
‘Buyers of a median-price home are looking at a monthly mortgage payment that is almost 50% higher than it was a year ago.’ The 30-year mortgage rate dips slightly to 5.1%
The interest rate on the country’s benchmark mortgage product edged downward for the first time since early March, but that doesn’t mean the housing market...
The average household is spending an extra $250 a month, or $3,000 per year, due to high inflation — but middle-aged Americans are paying even more
Inflation is running hot, but not everyone is feeling the burn. The latest edition of the consumer price index showed that inflation was running at...