Real-Time Financial News in the US: Tracking Mortgage Rates, Inflation, and More!
Expanded Headlines: Sunday, 27 August 2023
Wall Street’s Rollercoaster Week Ends with a Sigh of Relief, Except for Dow Jones
Friday proved to be a respite for many markets, as they rebounded in trading, although the Dow Jones index remained in the red, closing the week on a downward note.
Federal Reserve Chair Jerome Powell Hints at an Imminent Rate Hike
In a statement that has economists and investors buzzing, Jerome Powell indicated that a further interest rate hike may be on the horizon, potentially shaking up markets and consumer borrowing.
A Consistent Climb: 30-Year Fixed Mortgage Rates Ascend for Fifth Consecutive Week
The weekly average rate of 30-year fixed-rate mortgages continues its uphill trajectory, marking its fifth straight week of increases and stirring concern among potential homebuyers.
Positive Labor Market News: Initial Unemployment Claims Fall to 230,000
The latest numbers show that initial unemployment claims have dropped to 230,000 last week, providing a glimmer of hope in an otherwise volatile job market.
Home Prices Spike in July, Even as Sales Decline
While the real estate market cooled down in July with a dip in existing home sales, it marked the first time in five months that prices actually went up, highlighting supply and demand imbalances.
White House Unveils SAVE: A New Income-Driven Student Loan Repayment Plan
In an effort to alleviate the student debt crisis, the White House has launched SAVE, its innovative new income-driven repayment plan for student loans.
A Pay Raise on the Horizon: Florida’s Minimum Wage Set to Climb Next Month
Employees earning minimum wage in Florida have something to look forward to as new legislation will see an increase in their hourly rate come September.
Coming Soon: Updated SNAP Benefit Requirements for 2024
As part of ongoing welfare reforms, new eligibility criteria for receiving SNAP benefits are set to roll out soon, potentially affecting millions of recipients.
Feel the Heat at the Pump: Extreme Summer Temperatures Impact Oil Refinery Operations
This summer’s relentless heat has not just been hard on people; it’s also affecting oil refineries. Consequently, gas prices are on the rise, hitting drivers where it hurts.
A Hefty Bill Awaits: One in Five Student Loan Borrowers to Face $500 Monthly Payments
A recent study has brought to light that 20% of student loan borrowers are expected to be paying as much as $500 per month once repayment plans resume, sparking debates on the sustainability of current lending practices.