Just look at mortgage rates. At the beginning of 2022, the average interest rate on a 30-year mortgage hovered above 3%. Today it stands at 4.72%, according to Freddie Mac. That translates into sharply higher borrowing costs for Americans looking to buy a home — and it is only the beginning. For the better part … Read more
By CHRISTOPHER RUGABER, AP Economics Writer WASHINGTON (AP) – Record-low mortgages below 3%, reached last year, are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally receive a yield high enough to top inflation. The substantial half-point hike in its benchmark short-term rate that the … Read more
Consumers are spending more to keep up with the surging cost of living and it may get worse before it gets better. “Even though wage growth has been the best in decades, it has been outpaced by increased household costs,” said Greg McBride, chief financial analyst at Bankrate.com. “With inflation at a 40-year high, that … Read more
SANTIAGO, Chile, April 29, 2022 (GLOBE NEWSWIRE) – Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its unaudited results for the three-month period ended March 31, 2022 and first quarter 2022 (1Q22). Net income attributable to shareholders up 29.5% YoY in 3M22, with ROAE of 25.6% Net income attributable to shareholders in 1Q22 totaled … Read more
STRONGSVILLE, Ohio – Strongsville-based Union Home Mortgage has announced an unspecified number of layoffs this week, joining the roster of other large mortgage lenders in recent days that have reduced their workforces amid declining volume in new applications for mortgages and refinances. Cindy Flynn, chief marketing and communications officer at Union Home Mortgage, said the … Read more
By CHRISTOPHER RUGABER, AP Economics Writer WASHINGTON (AP) – Will mortgage rates go up? How about car loans? Credit cards? How about those nearly invisible rates on bank CDs – any chance of getting a few dollars more? With the Federal Reserve signaling Wednesday that it will begin raising its benchmark interest rate as soon … Read more
The most recent inflation data pointed to continued high prices, despite an announcement by the Federal Reserve of significant efforts to end inflation this year. At the same time, more than one economist suggested that we face higher recession risks this year. Both of these developments are worrying, and I think there is cause for … Read more
d3sign | Moment | Getty Images As the yield on the 10-year US Treasury pushes ever closer to 3% – a symbolic level not seen since late 2018 – financial analysts have described how it could affect people’s finances in a number of ways. Last week, the 10-year rate hit 2.94%, its highest point in … Read more
getty Key Takeaways According to the New York Federal Reserve data, consumers ended 2021 with a record $ 15.6 trillion in debt The average household now owes $ 155,622, including balances on mortgages, credit cards, auto loans, and student loans Mortgage balances made up the largest portion, rising $ 890 billion in the year and … Read more
WASHINGTON (AP) – Federal Reserve officials say they will take an aggressive approach to tackling high inflation in the coming months – actions that will make lending much more expensive for consumers and businesses and increase risks to the economy. . A few minutes after their policy meeting in March, released on WednesdayFed officials said … Read more