Mortgage rates have fallen after reaching an eight-year high in July. The average 30-year fixed rate mortgage is currently at 4.51%, down from 4.56% last week and from 4.86% at the beginning of the month. The 15-year fixed rate mortgage is at 3.97%, down from 4.01%. The drop in rates may provide relief to potential […]
. The consumer price index (CPI) rose only 0.2%, the lowest rate this year. Core inflation, which strips out more volatile items such as energy and food, was even lower at 0.1%. The slowdown in inflation was supported by weak economic growth. In October, the gross domestic product (GDP) rose just 0.7% compared to the […]
The Home Depot’s announcement that the worst of inflation is over is definitely good news for both retailers and shoppers. Retailers will be able to procure goods and materials at lower costs, potentially allowing them to offer lower prices to shoppers. Inflation has been on the rise over the past year due to a combination […]
Social Security payments are not affected by the government shutdown. The are funded by the Social Security Trust Fund, which is a separate fund from the federal budget and thus unaffected by the shutdown. Other key programs, such as food stamps, are also unaffected. Federal employees with Social Security Numbers will still be able to […]
No. Shoplifting is on the rise in the wake of the COVID-19 pandemic. Many retailers have reported increases in shoplifting, and research from the Retail Industry Leaders Association found that shoplifting has surged across the United States in recent months.
WeWork, the office-sharing company once valued at $47 billion, filed for bankruptcy protection on Thursday. The company, which rents desks and office space to small businesses, startups, and freelancers, lists $7 billion in liabilities, including outstanding debt of $4.6 billion. The filing came after SoftBank, WeWork’s largest investor, pulled its offer of a $3 billion […]
The rise in credit card debt is due, in part, to a combination of lower consumer spending and increased borrowing. The coronavirus pandemic caused a massive economic downturn that led to fewer spending opportunities for consumers, with many businesses being forced to close. At the same time, the stimulus packages from the federal and state […]
United Airlines has announced changes to its frequent flyer program to reward customers for using the airline’s co-branded cards. The airline has updated its MileagePlus program to reward cardholders with bonus miles for all purchases made with the United Explorer Card, United Business Card and United ClubSM Card. Cardholders will now receive five miles per […]
The Internal Revenue Service (IRS) announced new income tax brackets for 2024. For individuals filing their 2024 taxes, the tax rates are as follows: Taxable Income Tax Rate $0 – $9,950 10% $9,951 – $40,525 12% $40,526 – $86,375 22% $86,376 – $164,925 24% $164,926 – $209,425 32% $209,426 – $534,050 35% Above $534,050 37%
Americans generally view the US economy as strong. Unemployment is at a 50-year low and the stock market is at record levels. Consumers have more money in their pockets due to increased paychecks and bonuses from the Tax Cuts and Jobs Act of 2017, and they are enjoying some of the lowest gas prices in […]