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News
Ask a real estate pro: Can I take over seller’s mortgage loan with low interest rate?
3+ day, 10+ hour ago (460+ words) Q: The house I want to buy has a mortgage at a 3 percent interest rate, and my agent says the loan might be “assumable.” Rates today are more than double that. Can I really just take over the seller’s loan and…...
Americans rewire their grocery shopping routines while digesting the biggest price jump in 50 years
1+ week, 1+ day ago (880+ words) By DEE-ANN DURBIN, TERRY TANG, MAGGIE SCALES, SANDY GUATIBONZA and HIKARI MAE HIDA What’s for dinner? Lately, at Apral Jack’s house, it’s whatever is on sale. Jack, 50, scouts an app for deals at her local supermarket before she buys groceries....
Fed minutes: Officials deeply divided over future path of US inflation
3+ week, 4+ day ago (482+ words) In the first set of minutes released under new chair Kevin Warsh, “many” of the Fed’s 19 officials said its key rate would be unchanged from or slightly below its current level of 3.6% by the end of this year. But “many…...
Average 30-year US mortgage rate falls to 6.43%, its lowest level in seven weeks
1+ mon, 4+ hour ago (400+ words) The average long-term U.S. mortgage rate fell this week to its lowest level since mid-May, easing borrowing costs for prospective homebuyers. The benchmark 30-year fixed rate mortgage rate fell to 6.43% from 6.49% last week, mortgage buyer Freddie Mac said Thursday. One year…...
Florida restaurants, show us your fees: New state law cracks down on hidden dining surcharges
1+ mon, 6+ day ago (1227+ words) The minute he read the bill, diner Carl Jackson vowed never to return to Mamush Prime Kosher Grill in Boca Raton. Beneath the charges for chicken and ribeye skewers, french fries and iced teas, the Town Center mall restaurant had…...
All 32 of the nation’s biggest banks clear the Fed’s annual ‘stress test’
1+ mon, 1+ week ago (199+ words) By KEN SWEET, AP Business Writer The annual stress test measures whether a bank’s capital, a financial cushion it uses to absorb losses, would remain at healthy levels even after hundreds of billions of dollars in projected losses. The tests…...
Average 30-year U.S. mortgage rate falls to 6.47%, tracking lower bond yields as Iran war winds down
1+ mon, 2+ week ago (467+ words) The benchmark 30-year fixed rate mortgage rate fell to 6.47% from 6.52% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.81%. Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also…...
Inflation rises to a 3-year high on spiking gas prices, squeezing Americans financially
1+ mon, 3+ week ago (455+ words) Consumer prices rose 4.2% in May from a year earlier, the Labor Department said Wednesday, up from 3.8% in April and the third straight increase. On a monthly basis, prices rose 0.5% last month, after big gains of 0.6% in April and 0.9% in March....
Wall Street holds steadier as AI stocks recover some of their sell-off
1+ mon, 3+ week ago (524+ words) The S&P 500 added 0.3%, coming off a drop of 2.6% from Friday that was its worst since October. The Dow Jones Industrial Average dipped 80 points, or 0.2%, and the Nasdaq composite climbed 0.9%. Some of the best performers were companies that sell computer…...
Average US long-term mortgage rate falls to 6.48%, retreating from its highest level in 9 months
1+ mon, 3+ week ago (297+ 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…...