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Average 30-year mortgage rates are currently a bit lower than they were a month ago, and they may drop further. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.11% this week, according to Freddie Mac data. Mortgage rates increased dramatically in 2022 and have been volatile so far in 2023, but they're expected to trend down later this year.

Persons: we'll, you'll, Freddie Mac Organizations: Federal, Mortgage, Zillow, Federal Reserve Locations: decelerate, Chevron

The average 30-year mortgage rate was around 6.62% for the month in July, compared to 6.49% for the month of June. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.81%, according to Freddie Mac. 15-year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.11%, up 5 points from the prior week, according to Freddie Mac data. But average 30-year fixed rates will likely remain somewhere in the 6% to 7% range throughout 2023.

Persons: they've, you'll, Freddie Mac Organizations: Federal, Zillow, Federal Reserve Locations: Chevron

☆ Etsy seller whose side hustle brings in $169,000 a year: My No. 1 tip for making money during inflation
▼ + stars: | 2023-07-31 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

Tim Riegel brought in $169,000 selling 275-pound fire pits in the last 12 months. Six months ago, Tim Riegel bent over his computer, reviewed his monthly earnings statement and saw that his highly lucrative side hustle was making less money. Within six months, freight trucks were delivering his products to Etsy buyers across the U.S. and Canada. I'm constantly looking at my competitors — not just on Etsy, but throughout the U.S. — to see who's making similar types of pits, and their pricing. I'm sure people can replicate it, if they have similar skills — like welding, creativity and the know-how to source the steel.

Persons: Tim Riegel, they've, —, Riegel, Mozark, he'd, I'm, I've Organizations: CNBC Locations: Lamar , Missouri, Kansas City, Canada, U.S

☆ Here's why the Fed's rate hikes haven't actually hit Americans that hard
▼ + stars: | 2023-07-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The Federal Reserve has raised interest rates 11 times in the last year and a half. This has prevented a lot of pain, as floating rate debt resets on a regular basis as benchmark rates rise. He pointed to separate Equifax data that shows nearly 70% of mortgages carry an interest rate below 4%. "Most auto, student, and personal loans carry fixed rates as well, further insulating borrowers from interest rate increases." "Borrowers seeking new credit have been directly affected by higher rates leading some to forego taking on additional credit," deRitis said.

Persons: Cristian deRitis, deRitis, Jerome Powell, hasn't Organizations: Federal, Service, Fed, Markets Locations: Wall, Silicon

☆ Rent growth has plummeted to a two-year low as inflation continues to cool — and apartments in these 38 cities are getting more affordable fastest
▼ + stars: | 2023-07-30 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

Here are 38 cities where rent is cheaper than it was last year, according to Zumper. ZumperLower rent growth comes as inflation falls from multi-decade-highs. While rent growth is modest compared to the double-digit rates of 2022, renters are contending with an affordability crisis, Zumper's researchers noted. That's a recipe for lower rent growth, but not a dramatic dip. Along with each city are its year-over-year and month-over-month rent changes, average rent price, and national rent ranking among the largest 100 US cities.

Persons: Anthemos Georgiades, Lofty, Georgiades

☆ A key test for EV sales and the adoption curve is coming
▼ + stars: | 2023-07-30 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

The company says it will reach 400,000 cumulative units of EV production by early 2024 and that its EV business will reach profitability by 2025. "They have dozens of EV models over the next two to three years. watch nowAmong analysts who believe the stock is due for a bigger drop, expected EV sales disappointment is among the factors. But GM's EV plans come as Ford announced it is slowing down its plans to expand EV production to a 600,000 annual rate. "This will be the first year U.S. EV sales reach 1 million," Downey said.

Persons: Scott Mlyn, Brian Downey, Autotrader, Ford, Dan Ives, It's, they'll, Morgan Stanley, Adam Jonas, Mary Barra, Adam Jones, Colin Langan, Garrett Nelson, Chad Lyons, Lyons, Katie Minter, Rebecca Cook, Reuters Paul Jacobson, Jacobson, Ives, Downey, Tesla, Barra, they're, they've, Cox, Goodcarbadcar.net . Ford Organizations: Silverado, New York Auto Show, CNBC, General Motors, Cox Automotive, Kia, Porsche, Hyundai, Chevrolet Silverado, Wedbush Securities, Investors, GM, United Auto Workers union, Wall Street, Deutsche Bank, GMC Hummer EV, Chevy Silverado, GMC Sierra EV, Chevy Blazer, GMC, Blazers, Jaguar, Audi, North American, Reuters, EV, Cox, Ford's, Ford, Goodcarbadcar.net, Volkswagen, BMW – Locations: Detroit, Detroit , Michigan, U.S

☆ The case for a soft landing is slowly but surely building
▼ + stars: | 2023-07-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

It’s not difficult to see why – economic data released this past week points to a cooling but still strong economy. Still, it’s far too soon to assume that a soft landing is in the bag. There’s more economic data slated for release this coming week, and the US labor market is in focus. The Bureau of Labor Statistics’ latest jobs report is due Friday. Friday: Jobs report for July.

Persons: Jerome Powell, ” Powell, ”, Jeffrey Roach, WhatsApp, Catherine Thorbecke WhatsApp, Read, Kraft Heinz, Yum, Kellogg, Jobs Organizations: CNN Business, Bell, CNN, Federal Reserve, Fed, Commerce Department, LPL, Bureau of Labor Statistics, Labor, Survey, ADP, Labor Statistics ’, Community Bank, Caterpillar, Pfizer, Uber, Marriott, Starbucks, PayPal, CVS, Kraft, Brands, DoorDash, Apple, ConocoPhillips, Booking Holdings, Warner Bros

☆ The Fed just showed the US still has more work to do in getting inflation under control
▼ + stars: | 2023-07-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Powell has said that it will take more rate hikes to get inflation down to the target 2% level. Still, as Fed Chair Jerome Powell has repeatedly said, the Fed continues to have a 2% inflation target, meaning more rate hikes will likely be necessary to achieve that goal. The most recent inflation data were quite encouraging." Still, while Powell and administration officials are confident in the actions the Fed has taken to fight inflation, some Democratic lawmakers aren't convinced. "Chair Powell must maintain the Fed's pause on rate hikes and avoid further rate increases that threaten our economy and risk throwing Americans out of work."

Persons: Powell, Jerome Powell, we're, it's, Goldman Sachs, Jan Hatzius, Janet Yellen, aren't, Massachusetts Sen, Elizabeth Warren, Warren Organizations: Federal Reserve, Service, Federal, Market Committee, Fed, Bloomberg Locations: Wall, Silicon, Massachusetts

☆ Here’s why home prices stayed high in May
▼ + stars: | 2023-07-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

“The ongoing recovery in home prices is broadly based.”Before seasonal adjustment, prices rose in all 20 cities in May, as they had also done in March and April. Month over month, home prices rose in May for the fourth consecutive month. “Though home prices are likely to continue to cool slightly, limited inventory relative to buyer demand will likely keep prices somewhat afloat. By 1983, partly spurred by high inflation, the price rose to $75,500, and it continued rising to $126,100 by 1993. “It is worth noting that market data are coming up on last year’s record-high prices, notched during May and June,” he said.

Persons: “, ”, Craig Lazzara, “ It’s, Hannah Jones, Jones, George Ratiu, May’s, Ratiu, ” Ratiu Organizations: DC CNN, City Composites, Realtor.com, ”, National Association of Realtors, Federal Reserve Locations: Washington, Chicago, Cleveland, New York, Seattle, Las Vegas, Phoenix, Miami, Tampa , Florida, “, ’

☆ To feel 'comfortable,' Americans think they need a $233,000 salary and nearly $1.3 million for retirement. Here's what experts say
▼ + stars: | 2023-07-24 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

To feel financially secure or comfortable, Americans say, they would need to earn $233,000 on average, a recent Bankrate survey found. "Inflation is the main reason why Americans feel like they need to earn so much more than they already are just to feel comfortable," said Sarah Foster, analyst at Bankrate. Meanwhile, to retire comfortably, Americans have another big number in mind — $1.27 million — according to recent research from Northwestern Mutual. Sarah Foster analyst at BankrateWhile inflation may make saving for retirement feel more strenuous, it's important not to give up altogether, she said. Live within your meansBudgeting always requires a trade-off, according to Patel — how much you're spending versus how much you're saving.

Persons: Sarah Foster, Alap Patel, they're, it's, Foster, Patel Organizations: Eyecrave, CPI, Bankrate, Northwestern Mutual Locations: Chicago

☆ What’s ahead this week for Wall Street and the economy
▼ + stars: | 2023-07-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Case Shiller house price index for May and consumer confidence for July from the Conference Board. Earnings reports from AT&T, Boeing, Meta Platforms, Mattel, Stellantis and Chipotle Mexican Grill. Earnings reports from Coca-Cola, Mondelez, Honeywell, Keurig Dr Pepper, Royal Caribbean, Anheuser-Busch Inbev, Southwest Airlines and Hershey. Friday: Personal Consumption Expenditures price index for June, Employment Cost Index for the second quarter and University of Michigan consumer sentiment for July. Earnings reports from Procter & Gamble, Chevron and Exxon Mobil.

Persons: Jerome Powell, David Smith, Powell, Christopher Waller, ”, Dustin Thackeray, Tesla, Chris Isidore, —, Case, Dr Pepper Organizations: CNN Business, Bell, CNN, Fed, Traders, Rockland Trust, Big Tech, Microsoft, Meta, Crewe Advisors, Nasdaq, Netflix, Safety, Health Administration, doesn’t, Biden Administration, Bureau of Labor Statistics —, Ryanair, Federal Reserve, Conference Board, General Motors, Daniels, Midland, Verizon, PacWest, Boeing, Mattel, Honeywell, Anheuser, Busch Inbev, Southwest Airlines, Hershey, University of Michigan, Procter & Gamble, Chevron, Exxon Mobil Locations: Rockland, American, United States, PacWest Bank, Royal Caribbean

After rising rapidly for most of July, mortgage rates are now back down to their lowest levels in three weeks. "As inflation slows, mortgage rates decreased this week," Sam Khater, Freddie Mac's chief economist, said in a press release. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesThis week's average 30-year fixed mortgage rate is 6.78%, according to Freddie Mac. 15-Year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.06% this week, according to Freddie Mac data.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, they'll, you'll Organizations: Zillow, Federal Reserve Locations: today's, Chevron

☆ Across rural America, data center development booms as investors race to cater to artificial intelligence
▼ + stars: | 2023-07-21 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

Data center development is booming and AI is expected to stoke already growing demand. Demand is sapping power grids in major markets and pushing data center development across the US. The project's neighbors include Google, Meta, Microsoft, and Amazon – all of whom have similar plans, or are already underway with major data center projects. The message came after a torrid period of growth by the data center industry in that region. Wes Swenson, Nova's CEO, said the Reno region was becoming increasingly popular for data center development because of its access to power.

Persons: Matt McCollister, Martin Peck, Lincoln Rackhouse, Peck, Blackstone, Jonathan Gray, Drew Angerer, Bard, Gray, Pat Lynch, Robbie Sovie, Sovie, Georgia Power, Skybox, Rob Morris, Morris, George Frey, Novva, Wes Swenson, Nova's, Swenson, CBRE, Lynch Organizations: stoke, Lincoln Property Company, Harrison Street, Google, Meta, Microsoft, Amazon, Lincoln, Carrier, QTS, Dominion Energy, Dominion, Washington DC, APS, QuadReal, Georgia, Reuters, Data Centers, CIM Group Locations: Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Virginia, Loudoun County, Washington, Arizona, Southwest, Lithia Springs , Georgia, Atlanta, Vancouver, Hutto , Texas, Austin, Eagle Mountain , Utah, Reno , Nevada, Storey County, Reno, Silicon, Salt Lake City, West Jordan , Utah, CBRE

☆ The number of people doing gig work on apps like Uber and DoorDash more than doubled during the pandemic
▼ + stars: | 2023-07-20 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +4 min

The number of people doing platform gig work like deliveries on apps in the US grew by over 150% during the pandemic. The researchers used tax data from 90 gig economy platforms and apps for their analysis. "COVID was a watershed moment for a particular type of platform gig work, which is delivery work," Koustas said. Gig workers became younger and more female; 44% of transportation and delivery platform workers were female by 2021, per the working paper. While platform gig work climbed during the pandemic, a research brief about the working paper results states that other contract and freelance work fell during COVID.

Persons: Dmitri Koustas, COVID, Koustas Organizations: Service, The University of Chicago Harris School of Public, McKinsey, Workers, Economic Policy Institute Locations: Wall, Silicon, United States

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate is currently 6.96%, according to Freddie Mac. 15-Year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.3% right now, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased significantly in 2022. This is a dramatic slowdown compared to recent months, and a sign that mortgage rates will likely start falling soon.

Persons: Freddie Mac, it's Organizations: Federal Reserve, Fed, Zillow Locations: Chevron

☆ Ad giant IPG's data arm Kinesso has gone through an executive exodus, and the unit faces an uncertain future
▼ + stars: | 2023-07-19 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

Ad giant IPG is shaking up its data and tech arm Kinesso, and many of the unit's top execs have left. The move comes as IPG looks to cut costs from specialty services like data, a source said. Several top executives at ad agency holding group Interpublic Group's data and technology arm Kinesso have left, and now the unit faces an uncertain future, Insider has learned. IPG launched Kinesso in 2019 as a big bet on pitching marketers additional services that go beyond making and buying ads. Acxiom will remain a standalone unit that will provide data products and services to all of IPG's agencies, the source added.

Persons: IPG, Kinesso, Acxiom, Arun Kumar, Ian Johnson, Kimber Robbins, Nancy Hall, Hall, Philippe Krakowsky, Krakowsky, IPG's, they've, Dentsu, Merkle Organizations: Global, WPP, Mindshare, Reprise, UM, Agency, Epsilon Locations: Mediabrands

☆ Harlan Crow's jaunts on his yacht with Justice Clarence Thomas were a 'textbook billionaire tax scam,' Sen. Ron Wyden tells ProPublica
▼ + stars: | 2023-07-18 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Justice Clarence Thomas and GOP megadonor Harlan Crow's yacht trips have come under scrutiny again. Per ProPublica, Crow registered his yacht as a charter vessel but only took close friends on trips. As a result, he could pay his own company, report losses, and save on his tax bill, per ProPublica. Some of those were trips aboard Crow's yacht, the Michaela Rose, and were organized through Rochelle Charter, a company registered to charter the yacht. In April, Crow and Thomas first faced scrutiny related to the 20 years worth of undisclosed trips Crow is accused of gifting to Thomas, per ProPublica.

Persons: Clarence Thomas, Harlan, Per, Crow, Thomas, Michaela Rose, Ron Wyden, ProPublica, gifting, Thomas —, — Organizations: Service, Privacy, ProPublica, Dallas Morning News, Democrats Locations: Wall, Silicon, Rochelle

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-year Fixed Mortgage Rates Drop (-0.49%)The current average 30-year fixed mortgage rate is 6.43%, down 49 basis points since this time last week. 20-year Fixed Mortgage Rates Plummet (-0.79%)The average 20-year fixed mortgage rate is dramatically down from last week and sits at 6.01%. 15-year Fixed Mortgage Rates Fall (-0.49%)The average 15-year fixed mortgage rate is 5.68%, a decrease from last week. Mortgage Refinance Rates30-year Fixed Refinance Rates Drop (-0.52%)The average 30-year refinance rate is 6.80%, which is 52 basis points lower compared to last week.

Persons: they've, you'll, refinance Organizations: Zillow Locations: Chevron

After rising steadily for several weeks, mortgage rates ended the week at their lowest level since mid-June. Average 30-year mortgage rates have dropped around 40 basis points from where they were at the start of this week. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesThis week's average 30-year fixed mortgage rate is 6.96%, according to Freddie Mac. 15-Year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.30% this week, according to Freddie Mac data.

Persons: you'll, Freddie Mac Organizations: Federal Reserve, Zillow Locations: Chevron

☆ From inflation to mortgages: What last week’s data says about the economy
▼ + stars: | 2023-07-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

The Fed’s preferred gauge of inflation, the Personal Consumption Expenditures index, showed that inflation was double the target in May (more on inflation shortly). Wednesday’s Consumer Price Index showed that annual inflation slowed from 4% to 3% in June, the lowest level since March 2021. Then on Thursday came Producer Price Index data, which measures the average change in prices that businesses pay to suppliers. That data showed annual wholesale inflation cooled last month to the lowest level in nearly three years. And June of last year was monumental: Annual inflation soared to 9.1%, the highest in more than 40 years largely because of record-high energy costs,” she wrote.

Persons: Michael Scott, Price, ”, Mary Daly, “ It’s, Alicia Wallace, Freddie Mac, Jamie Dimon, JPMorgan Chase, can’t, Dimon, “, — CNN’s Bryan Mena, Matt Egan Organizations: New, New York CNN, Reserve, ” San Francisco Federal Reserve Bank, University of Michigan, JPMorgan, CNN Locations: New York, ” San Francisco

Mortgage rates spent the first half of July climbing, though there's reason to believe they may ease in the coming weeks. Average 30-year mortgage rates reached 6.96% this week. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.96%, according to Freddie Mac. 15-year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.30%, up a bit from the prior week, according to Freddie Mac data.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll Organizations: Zillow, Federal Reserve Locations: Chevron

☆ This map shows how much you need to make to be in the top 1% in every state
▼ + stars: | 2023-07-14 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

You need to make over $650,000 to be considered in the top 1%, according to new data. Most states had a higher income floor this year than last year, though New York stayed stagnant. New data released Thursday from financial information company SmartAsset broke down how much money people need to make to be among the top 1% of highest earners in each state. This map shows how much you need to make in each state to break into this elite demographic. A news release from the Bureau of Labor Statistics on Wednesday further revealed real average hourly earnings rose by 0.2% month over month in June.

Persons: SmartAsset, Jaclyn DeJohn, SmartAsset's, Charles Schwab Organizations: Service, IRS, of Labor Statistics, Congressional, Office, Bloomberg, Bureau of Labor Statistics, Logica Research Locations: Connecticut , Massachusetts, California, New York, Wall, Silicon, Connecticut, West Virginia, Massachusetts, Northeast

☆ San Francisco Fed president: ‘It’s really too early to declare victory on inflation’
▼ + stars: | 2023-07-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Despite promising signs that inflation is abating, San Francisco Federal Reserve Bank President Mary Daly said the fight against price increases isn’t over. But she cautioned, “It’s really too early to declare victory on inflation.”The latest Consumer Price Index report published on Wednesday showed that annual inflation slowed from 4% to 3% in June, the lowest level since March 2021. However, the Fed’s preferred gauge of inflation, the Personal Consumption Expenditures index, showed that inflation was double its 2% target in May. Daly acknowledged there’s a risk the Fed will raise rates higher than what’s ultimately needed to get inflation down to 2%. Daly, who will be voting on interest rates at the Fed’s meetings next year, said she wouldn’t necessarily consider cutting rates once inflation hits 2%.

Persons: Mary Daly, ” Daly, “ It’s, Daly, there’s, “ can’t, ”, Daly’s, James Bullard Organizations: New, New York CNN, San Francisco Federal Reserve Bank, CNBC, Louis Federal Reserve Bank Locations: New York, San, St

Average 30-year mortgage rates have increased significantly this month, and are around 26 basis points higher compared to June's average rates. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased significantly in 2022. This is a dramatic slowdown compared to recent months, and a sign that mortgage rates will likely start falling soon.

Persons: Lawrence Yun, Freddie Mac, it's Organizations: of Labor Statistics, National Association of Realtors, Zillow Locations: Chevron

☆ Stock futures are little changed ahead of big bank earnings: Live updates
▼ + stars: | 2023-07-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Stock futures were little changed Thursday evening as investors awaited earnings reports from a slate of big banks. Futures tied to the S&P 500 were down by 0.04%. Dow Jones Industrial Average futures inched lower by 27 points, or 0.08%, and Nasdaq 100 futures were flat. In regular trading, the S&P 500 climbed 0.85%. The S&P 500 is up 2.5% on the week, while the Dow is up 1.9%.

Persons: Bill Merz, we'd, Baird's Ross Mayfield, Dow, Wells, UnitedHealth Organizations: Futures, Dow Jones Industrial, Nasdaq, Nvidia, Dow, Investors, U.S, Bank Wealth Management, Federal Reserve, JPMorgan, Citi, BlackRock, University of Michigan Locations: Wells Fargo

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