News
Average 30-year US mortgage rate falls to 6. 43%, its lowest level in seven weeks
11+ hour, 32+ min ago (455+ 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…...
Consumer confidence ticks up as gas prices fall but Americans remain gloomy about the economy
3+ day, 8+ hour ago (363+ 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…...
All 32 of the nation's biggest banks clear the Fed's annual "stress test'
1+ week, 2+ day ago (304+ words) WXXV News 25 All 32 of the nation's biggest banks clear the Fed's annual "stress test' 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…...
US households, businesses stung by higher energy prices that have pushed inflation above 4%
3+ week, 2+ day ago (871+ 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 monthly increase. On a monthly basis, prices rose 0. 5% last month, after big gains of 0. 6% in April and 0. 9% in…...
Wall Street holds steadier as AI stocks recover some of their sell-off
3+ week, 4+ day ago (509+ 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
4+ week, 1+ 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…...
Key inflation gauge worsens as Americans" income and spending power erodes
1+ mon, 6+ day ago (595+ words) Inflation jumped to 3. 8% in April compared with a year ago, the Commerce Department'said Thursday, up from 3. 5% in March and the highest since May 2023. On a monthly basis, prices rose 0. 4%, down from the 0. 7% jump in March but still higher than the…...
US stocks edge higher following the latest U-turn for oil prices
1+ mon, 1+ week ago (763+ words) The S&P 500 rose 0. 2% and inched closer to'its all-time high'set last week. The Dow Jones Industrial Average added 276 points, or 0. 6%, and the Nasdaq composite climbed 0. 1%. All three indexes erased early drops and gained strength following the latest U-turn for oil…...
US grocery prices rose in April, but gas spikes weren't the only reason
1+ mon, 3+ week ago (941+ words) Americans paid more for their groceries last month, but'high gasoline prices'resulting from the Iran war were only one of the reasons why. Prices for food eaten at home rose 2. 9% in April compared to the same month a year earlier, according…...
Producer prices shot up 6%, adding pressure on companies to hike prices for struggling customers
1+ mon, 3+ week ago (652+ words) The Labor Department reported Wednesday that its producer price index " which tracks inflation before it hits consumers " shot up 1. 4% in April, the biggest monthly gain in more than four years. Energy prices climbed 7. 8% from March to April and 22. 7% from a…...