News
Consumer confidence ticks up as gas prices fall but Americans remain gloomy about the economy
1+ hour, 16+ min ago (362+ words) The Conference Board said Tuesday that its'consumer confidence index'rose 0. 6 point to 91. 2 in June, a figure that is still below its year-ago reading of 95. 2. Consumer attitudes worsened after the Iran war caused oil and gas prices to spike, accelerating inflation and…...
Average US long-term mortgage rate falls to 6. 48%, retreating from its highest level in 9 months
3+ week, 4+ day ago (559+ words) The average long-term U. S. mortgage rate eased this week from its highest level in nine months, welcome relief for prospective homebuyers. The benchmark 30-year fixed rate mortgage rate fell to 6. 48% from 6. 53% last week, mortgage buyer Freddie Mac said Thursday. The average…...
Who is incoming Fed chair Kevin Warsh?
1+ mon, 2+ week ago (799+ words) By JOSH BOAK and CHRISTOPHER RUGABER Warsh takes over a divided central bank wrestling with the economic fallout from the war started by the U. S. and Israel with Iran on Feb. 28. The conflict has driven up energy prices and made it…...
7-Eleven expects to close hundreds of its stores in North America this year
2+ mon, 2+ week ago (351+ words) According to earnings filings published last week, 7-Eleven's North American operator plans to close 645 stores in the 2026 fiscal year " outpacing the 205 locations it forecasts it will open during that same time. Seven & i Holdings Co. , the Japan-based parent of the…...
War, rates, inflation: More headwinds ahead for homebuyers
2+ mon, 2+ week ago (987+ words) On Feb. 26, right before the Iran war, the average Freddie Mac 30-year mortgage rate dropped to 5. 98%. This week, the rate averaged 6. 37%. For an $800, 000 mortgage, the payment'jumped 4. 2%'or $202'(from $4, 786 to'$4, 988). The price of a gallon of gasoline in California rose roughly…...
More Federal Reserve officials see possible rate hikes this year, minutes show
2+ mon, 3+ week ago (353+ words) And "many" of the officials pointed to the risk that higher oil and gas prices could keep inflation elevated for "longer than expected, which could call for rate increases" to push inflation back down. For about 18 months, the Fed has…...
U. S. recession risks rising as war dims economic outlook
3+ mon, 4+ day ago (836+ words) By Julia Fanzeres and Augusta Saraiva | Bloomberg Wall Street is cutting its forecasts for the U. S. economy this year, boosting its projections for inflation and unemployment and nudging up the odds of a recession as the impact of the Iran war…...
Average US long-term mortgage rate edges higher but remains near 2025 low
5+ mon, 3+ week 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…...
Chapman University economic forecast: slow but better growth in "26
6+ mon, 2+ week ago (517+ words) Despite President Donald Trump's zigzags on tariffs, taxes and regulations, the U. S. economy still should hit 2% growth in 2026, up from an estimated 1. 8% this year. That's according to the forecast given Thursday by Chapman University President Emeritus Jim Doti before 300 local community…...
California's state and local pension plans have over $265 billion in debt
7+ mon, 1+ week ago (338+ words) As it stands, California's state and local governments have the most public pension debt in the country, with total unfunded pension liabilities of more than $265 billion, according to a new report from the Reason Foundation. That's over $6, 000 in pension debt…...