News
Newsom’s budget shows big revenue gain, but we’ve been down that path before
2+ hour, 36+ min ago (533+ words) When Gov. Gavin Newsom declared today that the state will likely receive an extra $42.3 billion in tax revenue over the next three years, thus'alleviating a stubborn budget deficit, the inimitable Yogi Berra's famous observation came to mind. "It's like d'j…...
Average US long-term mortgage rate edges higher but remains near 2025 low
4+ day, 2+ hour ago (514+ words) The average rate on a 30-year U.S. mortgage edged higher this week to just above its 2025 low. The average long-term mortgage rate rose to 6.16%, mortgage buyer Freddie Mac said Thursday. That's up slightly from 6.15% last week, when the average rate dropped…...
Wall Street rises on Big Tech gains and approaches records
6+ day, 11+ hour ago (325+ words) By DAMIAN J. TROISE, Associated Press Business Writer The S&P 500 added 0.4% and is sitting just below the record it set in late December. The Dow Jones Industrial Average rose 158 points, or 0.3%, after setting a record on Monday. The Nasdaq composite…...
Housing won’t crash because it’s getting a bailout
1+ week, 12+ hour ago (626+ words) The bailouts are coming! The bailouts are coming! Yes, housing's "no crash" crowd may be right about home pricing avoiding another steep tumble. Those gurus coudl be proven correct because of my can't-miss prediction for the 2026 housing market. The federal…...
Forget the gurus: Do your own economic forecast!
1+ week, 4+ day ago (41+ words) Here are 10 questions to create your own 2026 forecast.(iStockphoto via Getty Images) What will the economy look like in 2026? Well, here's what some local forecasters are saying: But we think you can do your own 2026 forecast....
Consumer confidence slides in December to lowest level since US tariffs rolled out in April
2+ week, 6+ day ago (373+ words) U.S. consumers were less confident in the economy in December as Americans remain anxious about still-high prices and the impact of President Donald Trump's sweeping tariffs. By MATT OTT, Associated Press Business Writer [US economy expands at a surprisingly strong 4.3% annual…...
US economy expands at a surprisingly strong 4.3% annual rate in the third quarter
2+ week, 6+ day ago (205+ words) The U.S. economy economy expanded at a strong 4.3% annual rate from July through September as consumer spending, exports and government spending all grew. By MATT OTT, Associated Press Business Writer [A look at the experts racing to decode Trump's tariff rules]…...
A look at the experts racing to decode Trump’s tariff rules
2+ week, 6+ day ago (924+ words) By MATT SEDENSKY, Associated Press National Writer Tariffs were imposed in ways she'd never seen. New rules left her wondering what they really meant. Federal workers, always a reliable backstop, grew more elusive. "2025 has changed the trade system," says Magnus....
Lazerson’s 2026 mortgage and housing predictions
3+ week, 3+ day ago (717+ words) High inflation and a weak job market will be the big storyline in 2026. Mortgage-minded consumers buying and refinancing will be the big winners as rates are going to dip into the 5% range. Those are my big predictions. Come and see…...
Inflation isn’t cooling in Southern California
3+ week, 4+ day ago (572+ words) The nation's reportedly slightly cooler inflation has not reached Southern California. My trusty spreadsheet looked at the first Consumer Price Index report in two months to see how the cost of living behaved during the federal government's historic shutdown, both…...