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☆ As homelessness spikes nationwide, at least 4 major cities have found ways to get people off the streets
▼ + stars: | 2024-02-08 | by ( Allie Kelly | Eliza Relman | ) www.businessinsider.com time to read: +4 min

Plans that strengthen infrastructure for temporary and permanent affordable housing, and increase local support for demographics most vulnerable to homelessness, were consistently successful. Building paths to permanent housing in those cities improved overall housing access, researchers said. But Seattle has higher rates of unsheltered homelessness, so resources were better directed to building more temporary housing options. Chicago and New York have seen longer-term success in reducing homelessness, but both saw a spike between 2022 and 2023. The main driver of homelessness is the severe housing shortage across the country, so the most fundamental solution is creating more affordable housing.

Persons: There's Organizations: Brookings Institution, Department of Housing, Urban, Seattle, Brookings Locations: Chicago, New York, Seattle, Philadelphia, Los Angeles , Oregon, New Jersey

In spite of some fluctuations from day to day or week to week, mortgage rates have overall been holding relatively steady since mid-December. 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 average 30-year fixed mortgage rate was 6.63% last week, according to Freddie Mac. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 5.94%, a two-basis-point decrease from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Adriana Kugler, Kugler, you'll, Freddie Mac, it's Organizations: Brookings Institution, Zillow, Federal Reserve Locations: Chevron

People of color who moved to Texas said they were attracted by jobs and more-affordable homes. Census data indicates that in 2023, Texas led the nation in population growth, welcoming 473,000 people, the most new residents of any state. Millennials comprised 40.5% of people moving to Texas from 2021 to 2022, and Gen Zers made up about 30%. The Texas Demographic Center's analysis of the 2020 census found that 95% of the state's population growth was associated with a rise in people of color. Are you a person of color who recently moved to — or moved out of — Texas, and wants to share your story?

Persons: —, Jasmine Cambridge, Cambridge, she's, Austin, I've, Austin —, They've, Gen Zers, Lauren Leining, RubyHome, Holly Heard, Anna Lagos, San Antonio —, we'd, Alcynna Lloyd Organizations: Service, Wells, Bank of America, US, Brookings Institution, Americans, Cambridge, Lagos, BI Locations: Texas, Atlanta, Austin, Cambridge, California, New York, Minnesota, Dallas, Houston, what's, Mexico, Mexican, Lagos, San Antonio, New Braunfels, —, — Texas, alloyd@businessinsider.com

☆ Ukraine is setting up a separate branch of its military focused purely on drone warfare
▼ + stars: | 2024-02-07 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukraine is creating a new military branch for drone warfare, Volodymyr Zelenskyy said. A military expert said it's likely the first time a country has set up a separate drone branch. AdvertisementUkraine is creating a new branch of its military dedicated to drone warfare. Ukraine has regularly used drones to take out Russian tanks, bomb trenches, hit equipment stores, and target soldiers. But drone warfare in Ukraine is not one-sided.

Persons: Volodymyr Zelenskyy, it's, —, he'd, Zelenskyy, Bruce Riedel, Mykhailo Fedorov, Sergei Shoigu, James Patton Rogers Organizations: Service, Defense Forces —, Unmanned Systems Forces, Ukraine's National Security and Defense, Brookings Institution, NBC, Digital Transformation, Russia's, Cornell Brooks Tech Policy Institute Locations: Ukraine, Ukrainian, Russia

☆ Why is Travis Kelce so concerned about my credit score?
▼ + stars: | 2024-02-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

And now, he would like to talk about everybody's — credit scores. It's the type of message that can briefly fill you with panic since credit scores can make or break your financial life. The checking account and debit card are pretty vanilla, and Boost doesn't guarantee a higher credit score. America is filled with people with bad credit scores who want to improve, and probably a lot of them are football fans. "But America is filled with people with bad credit scores who want to improve, and probably a lot of them are football fans."

Persons: Travis Kelce, Taylor, He's, It's, Experian, Kelce, Katie Stratman, it's, isn't, Matt Schulz, Aaron Klein, Rajiv Bhatia, Chi Wu, Swift, —, Klein, Emily Stewart Organizations: Kansas City Chiefs, American Express, Chiefs, Netflix, Citibank, Brookings Institution, Treasury, Morningstar, National Consumer Law Center, Capital, Business Locations: Experian, America

☆ Tucker Carlson is in Russia to interview Putin. He’s already doing the bidding of the Kremlin
▼ + stars: | 2024-02-06 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

CNN —Tucker Carlson’s interview with Vladimir Putin hasn’t been posted online yet, but he is already doing the Russian authoritarian’s bidding. In a video posted to X announcing the sit-down Tuesday — the first interview Putin has granted with a Western media figure since his full-scale invasion of Ukraine two years ago — Carlson predictably and dishonestly villainized the press. “Does Tucker really think we journalists haven’t been trying to interview President Putin every day since his full scale invasion of Ukraine?” CNN’s Christiane Amanpour rhetorically remarked upon seeing Carlson’s claim. Which is to say, don’t hold your breath if you think Carlson will bring the heat to Putin. “Bear in mind that Putin wants to stir and widen divisions within the United States as much as possible.”That may just be a goal both Putin and Carlson share.

Persons: CNN — Tucker Carlson’s, Vladimir Putin hasn’t, Putin, — Carlson, Carlson, Volodymyr Zelensky, ” Carlson, “, Vladimir Putin, Tucker, haven’t, ”, Christiane Amanpour, Evan Gershkovich, —, ” Susan Glasser, ” Glasser, “ Will, Donald Trump, Viktor Orbán, Javier Milei, ” Steven Pifer, ” Pifer Organizations: CNN, Fox News, Big Tech, New Yorker, Washington, “, Putin, Brookings Institution, Foreign, Department, Soviet Locations: Ukraine, Russia, Putin’s Russia, Moscow, Russian, Soviet Union, American, United States

☆ House passes child tax credit expansion — which could benefit millions of families, experts say
▼ + stars: | 2024-02-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

J_art | Moment | Getty ImagesHouse lawmakers on Wednesday night passed a $78 billion bipartisan tax package, including a child tax credit expansion that could benefit millions of children in low-income families, according to policy experts. If enacted, the bill would expand access to the child tax credit, or CTC, and retroactively boost the refundable portion for 2023, which could affect taxpayers this filing season. The child poverty rate "precipitously dropped" during the 2021 child tax credit expansion, Hamilton said. Modeling a permanent version of the 2021 child tax credit increase, the report projects higher graduation rates and future earnings for childhood child tax credit recipients. Nikhita Airi Research analyst at the Urban-Brookings Tax Policy Center

Persons: Chuck Marr, Marr, Steven Hamilton, Hamilton Organizations: Images, Center, Budget, Urban, Brookings Tax, The George Washington University, Rescue Plan, Columbia University, . Census, CTC, Urban Institute, Modeling, Airi

☆ House passes child tax credit bill that could give families a nearly $700 tax break as early as this year
▼ + stars: | 2024-02-01 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

The House of Representatives on Wednesday passed a bipartisan tax bill that would expand the child tax credit through 2025 and could have implications for taxpayers as early as this year. The $78 billion package wouldn't go so far as reviving the expanded child tax credit families were able to claim as part of the Covid-19 pandemic response. But it would raise the maximum refundable tax break to $1,800 per child for tax year 2023, up from $1,600. If the bill passes the Senate soon, families filing their 2023 taxes in the coming weeks could claim the expanded credit. That means eligible families could see an average $680 break this tax season, according to an Urban-Brookings Tax Policy Center projection.

Organizations: Urban, Brookings Tax

☆ Child tax credit could change — but ‘don't wait on Congress’ to file your taxes, IRS commissioner says
▼ + stars: | 2024-01-30 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Tom Williams | CQ-Roll Call, Inc. | Getty ImagesAs the tax season kicks off, Congress is still negotiating a $78 billion tax package with retroactive changes, including a boost for the child tax credit. If enacted, the child tax credit changes could affect 2023 filings this season. If enacted, the child tax credit changes could expand access, increase the refundable portion of the tax break and add future inflation adjustments. How to handle retroactive child tax credit changesMeanwhile, there are lingering questions from tax professionals about how to handle possible tax law changes for 2023, especially for those who file early. By law, filers claiming the child tax credit or earned income tax credit won't receive refunds until Feb. 27 at the earliest, according to the IRS.

Persons: Danny Werfel, Tom Williams, Jason Smith, Bill Smith, CBIZ, Werfel, filers Organizations: Senate, IRS, Washington , D.C, CQ, Inc, Getty, Urban, Brookings Tax, Republicans, Friday Locations: Washington ,

☆ FTC launches AI inquiry into Amazon, Alphabet, Microsoft, looking at 'investments and partnerships'
▼ + stars: | 2024-01-25 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

WASHINGTON, DC - OCTOBER 4: Federal Trade Commission Chair Lina Khan speaks during a discussion on antitrust reforms at the Brookings Institution October 4, 2023 in Washington, DC. Khan assumed the role of FTC chair in June 2021 after being appointed by U.S. President Joe Biden and confirmed by the Senate. (Photo by Drew Angerer/Getty Images)The Federal Trade Commission said Thursday it will conduct an extensive study on the artificial intelligence field's biggest heavyweights, including Amazon , Alphabet , Microsoft , Anthropic and OpenAI. FTC Chair Lina Khan announced the inquiry during the agency's tech summit on AI, describing it as a "market inquiry into the investments and partnerships being formed between AI developers and major cloud service providers." "At the FTC, the rapid development and deployment of AI is informing our work across the agency," Khan said.

Persons: Lina Khan, Khan, Joe Biden, Drew Angerer Organizations: Federal Trade, Brookings, U.S, Senate, Federal Trade Commission, Microsoft, FTC, Apple, Facebook, Amazon Locations: WASHINGTON, DC, Washington , DC

☆ These are the proposed changes to the child tax credit — and how much you could get
▼ + stars: | 2024-01-24 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Kate_sept2004 | E+ | Getty ImagesHouse lawmakers on Friday advanced a $78 billion bipartisan tax package, which includes temporary child tax credit changes that could affect millions of families this filing season. The plan temporarily expands access to the child tax credit with retroactive changes. Here's what to know about the proposed changes to the child tax credit as the opening of tax season, on Jan. 29, quickly approaches. How the child tax credit worksCurrently, the child tax credit is worth up to $2,000 per qualifying child under age 17 for 2023 and reduces your taxes on a dollar-for-dollar basis. How much the child tax credit could increaseIf enacted, the bipartisan tax bill would make several temporary changes to the child tax credit that could benefit the lowest-earning Americans, according to the Urban-Brookings Tax Policy Center.

Persons: Tommy Lucas, Moisand Fitzgerald Tamayo, Lucas, Chuck Marr Organizations: Getty Images, Urban, Brookings Tax, Center, Budget Locations: Orlando , Florida

☆ Fact check: Trump makes false claims in New Hampshire victory speech
▼ + stars: | 2024-01-23 | by ( Daniel Dale | ) edition.cnn.com time to read: +5 min

CNN —Former President Donald Trump made several false claims in a speech Tuesday night after CNN and other media outlets projected that he would win the Republican presidential primary in New Hampshire. CNN also watched rival candidate Nikki Haley’s Tuesday night speech in New Hampshire; Haley’s claims were either accurate or too general to fact check. He lost the 2020 election fair and square to Joe Biden, by a 306 to 232 margin in the Electoral College, and also lost New Hampshire in that election. Chris Sununu, a supporter of Haley, Trump said that because of Sununu’s incompetence, “in the Republican primary, they accepted Democrats to vote. In fact, I think they had 4,000 Democrats – Democrats before October 6 – they already voted.

Persons: Donald Trump, Nikki Haley’s, Haley’s, dismissively, Joe Biden, “, Biden, ” Howard Gleckman, ‘, ” Gleckman, ” Trump, Hillary Clinton, Chris Sununu, Haley, Trump, –, it’s, Sununu, can’t Organizations: CNN, Republican, Trump, Electoral College, New Hampshire, Brookings Tax, Urban Institute, New Hampshire Trump, Democratic, Republican New Hampshire Gov, – Democrats, GOP, New Hampshire Bulletin Locations: New Hampshire, “, New, Trump’s, Florida, Hampshire

☆ Empty-Nest Baby Boomers Won't Sell 3-Bedroom Homes Millennials Need
▼ + stars: | 2024-01-23 | by ( Eliza Relman | Jennifer Sor | ) www.businessinsider.com time to read: +6 min

As people age, they need homes that are more accessible and easier to maintain. Large homes often have multiple floors, yards, and other features that make them trickier to navigate for older people. AdvertisementSchuetz says there's not a dearth of large homes in the US. Instead, there's really just a mismatch between large homes and occupants who don't need them. But many more family-sized apartments and other homes will need to be built to make up for the lack of large homes on the market.

Persons: —, Jenny Schuetz, Redfin, Schuetz, Daryl Fairweather, Redfin's, I've, Fairweather, it's, there's Organizations: Service, Business, Brookings Institution

☆ It does feel like perceptions are changing around the economy, says Brookings' Ben Harris
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt does feel like perceptions are changing around the economy, says Brookings' Ben HarrisLanhee Chen, Hoover Institution fellow, and Ben Harris, Brookings Institution economic policy director, join 'Squawk Box' to discuss the state of the 2024 race, how big of a factor the economy will play, and more.

Persons: Brookings, Ben Harris Lanhee Chen, Ben Harris Organizations: Hoover Institution, Brookings

☆ Top Economic Aide to Biden Pitches ‘Comeback’ in Hard-Hit America
▼ + stars: | 2024-01-22 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

Those “place-based” policies are often directed at former industrial strongholds that were battered by automation and foreign competition. They are a cornerstone of Mr. Biden’s economic agenda across several major pieces of legislation he has signed and a big part of his re-election pitch. Whether voters perceive them as successful could affect Mr. Biden’s chances in November, particularly in industrial swing states like Pennsylvania and Wisconsin. Mr. Biden “came to office determined to invest in all of America, to leave no community behind. It is working,” Ms. Brainard plans to say, according to a copy of her prepared remarks.

Persons: Biden’s, Lael Brainard, Biden “, ” Ms, Brainard, ” Organizations: Economic Council, Brookings Institution Locations: Pennsylvania, Milwaukee, Wis, Biden’s, Washington, Wisconsin, America, “

☆ New Hampshire is poised to answer the GOP’s existential question
▼ + stars: | 2024-01-22 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

But she must still prove she can make a head-to-head duel with the ex-president last through Tuesday’s New Hampshire primary and beyond, after Florida Gov. But Haley faces an existential question for her own campaign Tuesday. “They’re all all coming with us,” Trump noted with satisfaction at a rally in Rochester, New Hampshire, on Sunday night. An unexpectedly high turnout of undeclared voters powered late Arizona Sen. John McCain to a shock victory in the 2000 GOP primary against George W. Bush. But Haley’s problem is that most Republican voters may not want what she’s offering.

Persons: New Hampshire CNN —, Nikki Haley, strode, “, ”, Donald Trump, Ron DeSantis, he’d, Haley, ” Haley, CNN’s Dana Bash, DeSantis, president’s, –, South Carolina Sen, Tim Scott, Vivek Ramaswamy –, ” Trump, imperil Trump, Chris Sununu, galvanize, ” Sununu’s, Trump, Sununu, Haley –, Joe Biden, November’s, She’s, Chris Christie, Arizona Sen, John McCain, George W, Bush, Hillary Clinton, Barack Obama, Republican pollster Whit Ayers, Texas Sen, Ted Cruz, Ted Cruz , Florida Sen, Marco Rubio, Christie, Jeb Bush, Rubio, Cruz, He’s, Liz Cheney, Mitt Romney, Haley hasn’t, Henry McMaster, Gov, Pamela Evette, Scott, ” he’s, Biden, Scott Jennings Organizations: New Hampshire CNN, South, Republican, Tuesday’s New, Florida Gov, Trump, Super, GOP, – DeSantis, New, New Hampshire Gov, CNN, New Jersey Gov, Florida, New Hampshire, Institution, Trump Republican, Republican Party, Senate, Wyoming, Gov, Sunday, Exeter, Office, Republicans, ” CNN Locations: Exeter, New Hampshire, South Carolina, Tuesday’s, Tuesday’s New Hampshire, Rochester , New Hampshire, New Jersey, Iowa, Granite, Arizona, New, The New Hampshire, Texas, Ted Cruz , Florida, Carolina, Cruz, New York, Utah

☆ Markets tried to fight the Fed on rate cuts. It didn’t work
▼ + stars: | 2024-01-21 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Now there’s roughly a 50/50 chance that the Fed could either cut rates or hold them steady in March, according to futures. A few developments this past week tempered investors’ optimism, and now the possibility of a rate cut in March could be completely thrown out the window, according to economists. He echoed other Fed officials who’ve recently said that beginning to cut rates in March is just not realistic. In addition to officials’ comments, recent economic data also doesn’t bode well for a March rate cut. Markets are expecting twice as many rate cuts this year than what Fed officials themselves estimated in their latest economic projections released in December.

Persons: ’, Christopher Waller, ”, who’ve, Loretta Mester, “, Mary Daly, it’s, Daly, bode, Waller, ” Bill Adams, ” Daniel Altman, Jerome Powell’s, Donald Trump, Christine Lagarde, couldn’t, Jamie Dimon, Trump, Joe Biden, Bank of America’s Brian Moynihan, OpenAI’s Sam Altman, Johnson, Lockheed Martin, Levi Strauss, Booz Allen Hamilton, CNN’s Elisabeth Buchwald Organizations: CNN Business, Bell, DC CNN — Federal Reserve, Fed, Brookings Institution, ” Cleveland Fed, Bloomberg, ” San Francisco Fed, Fox Business, Commerce Department, Labor Department, Employers, Comerica Bank, CNN, Biden, Trump, Economic, European Central Bank, ”, JPMorgan, Bank of America’s, United Airlines, The Bank of Japan, Netflix, General Electric, Procter, Gamble, Johnson, Verizon, Lockheed, Haliburton, Tesla, IBM, Bank of Canada, Global, American Airlines, Southwest Airlines, Alaska Airlines, Co, Visa, Intel, Mobile, Comcast, Capital, US Commerce Department, Chicago Fed, US Labor Department, American Express, Colgate, Palmolive, Booz, National Association of Realtors Locations: Washington, ” San, East, Iran, Davos, Switzerland, Iowa, Swiss, United States

☆ Opinion: Our possibly short national nightmare
▼ + stars: | 2024-01-21 | by ( Richard Galant | ) edition.cnn.com time to read: +19 min

“My fellow Americans, our long national nightmare is over,” President Gerald Ford said. “Our campaign is the last best hope of stopping the Trump-Biden nightmare,” the former UN ambassador said. If not, it won’t be as protracted a “national nightmare” as the two-year-long Watergate scandal that put Gerald Ford in the Oval Office. Though, depending on your point of view, the real nightmare could begin after the swearing-in. Yet, John Avlon wrote, Trump and some members of the House GOP, want to tank an emerging compromise in the Senate that would couple border security measures with aid to Ukraine.

Persons: CNN —, Richard Nixon, “, Gerald Ford, Ford, Gerald Ford’s, Nikki Haley, Joe Biden, Donald Trump, Clay Jones, we’ll, Haley, MAGA, ”, Frida Ghitis, Trump, ” Haley, ” Trump, Patrick T, Brown, Daniel McCarthy isn’t, Donald Trump’s, Ron DeSantis, Vivek Ramaswamy, ” Nick Anderson, Biden isn’t, Dean Phillips, Cupp, Biden, ” Dana Summers, Karen Finney, Robert E, Lee, ” Finney, ’, Keith Magee, Julian Zelizer, Trump Samuel L, Adams, King David Border, Adolf Hitler, “ Mein, Paul Moses, Edward Alsworth Ross, Moses, Ross, … ”, — Hitler’s, It’s, who’ve, John Avlon, Scott Stantis, Mike Johnson, Alice Driver, Greg Abbott’s, Jean Carroll, Bill Bramhall, News Trump, Carroll, Danielle Campoamor, “ Carroll, —, she’s, Shawn Crowley, Robert C, Gottlieb, ” “, Jack Ohman, Gerald Auten, David Splinter, Jordan McGillis, Thomas Piketty, Emmanuel Saez, Gabriel Zucman, McGillis, Melissa Kearney, ” Elise Gould, Josh Bivens, ” Elisabeth Kendall, Peter Bergen, ” Kendall, Sheena McKenzie, Izzeldin Abuelaish, Peter Rutland, Israel ’, Nafees Hamid, Walt Handelsman, Sara Stewart, Katherine Heigl, Jill Filipovic, Jeremy Allen White, J, Chen, Suzanne Nossel, Jade McGlynn, Holly Thomas, Estee Lauder, mascara, don’t, ” Thomas Organizations: CNN, Netflix, Trump, Biden, UN, New, Republican, Florida Gov, South Carolina Gov, GOP, Democratic, New Hampshire, Agency, Aggression, CNN Town Hall, American Sociological Association, ”, ified GOP, Texas Gov, News, Brookings, Social, Administration, US, Cambridge University’s Girton College, Wesleyan University, Palestine, Times Locations: Republic, Iowa, New Hampshire, Minnesota, New, Virginia, North Carolina, mealtimes, curriculums, America, Ukraine, New York, Manhattan, Yemeni, Red, Gaza, Israel, Americas

☆ Kyte Baby in controversy after Marissa Hughes’ remote work request was denied, CEO apologizes
▼ + stars: | 2024-01-21 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +8 min

New York CNN —The CEO of Texas-based baby clothing company Kyte Baby has issued two apologies after denying a remote work request by an employee whose baby was admitted into a neonatal intensive care unit. “We work at Kyte Baby: Of course we’re going to bring our kids to work,” an employee says in one TikTok video. “We work at Kyte Baby: Of course we’re expecting,” another chimes in. Another video titled “Meet the Kyte Baby Team” introduces various Kyte Baby employees, each dancing with a child or two in tow. According to a survey published by Bankrate that same month, 77% percent of full-time working women with children under the age of 18 support hybrid work schedules, while 74% support remote work.

Persons: Kyte Baby, Kyte, Marissa Hughes, ” Hughes, Hughes, Ying Liu, “ Kyte, Liu, ”, ” Lauren Jennings, Alison Brod, James Haggerty, ” Jennings, “, ’, It’s, ” Kyte Baby, “ Marissa, Bankrate Organizations: New, New York CNN, Alison Brod Marketing, Communications, CNN, Brookings, Department, Labor’s Locations: New York, Texas, America, United States

The expectation of lower mortgage rates and higher demand means this year's homebuying season is shaping up to be a busy one. Though mortgage rates are expected to go down in 2024, there's no guarantee of when exactly they'll start to drop. Currently, average 30-year mortgage rates are down from their fall 2023 peak and have generally been hovering below 6.5% this month. Mortgage rates don't directly follow the Fed's benchmark rate, but investor expectations of how Fed moves could impact the broader economy can push mortgage rates up or down. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: there's, Christopher Waller, Waller, they'll, you'll, Fannie Mae Organizations: Federal Reserve, Fed, Brookings Institution, Zillow, Mortgage, Association, Sky Locations: Chevron

As the Fed is able to start lowering its benchmark rate, mortgage rates should go down further in 2024. 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 Slightly (-0.17%)The current average 30-year fixed mortgage rate is 6.18%, down 17 basis points since this time last week. 20-Year Fixed Mortgage Rates Fall (-0.27%)The average 20-year fixed mortgage rate is down somewhat from last week, and is sitting at 5.69%. 15-Year Fixed Mortgage Rates Decrease (-0.27%)The average 15-year mortgage rate is 5.39%, also down 27 points from last week.

Persons: Christopher Waller, Waller, you'll, It's, refinance Organizations: Federal Reserve, Brookings Institution, Federal, Zillow, FHA Locations: Chevron

NEW YORK (AP) — The squabble over billion of dollars in overdraft fees that Americans get charged every year is intensifying. While banks have drastically cut back on overdraft fees in the past decade, the nation's biggest banks still take in roughly $8 billion in overdraft fees every year, according to data from the CFPB and bank public records. Political Cartoons View All 253 ImagesBanks charge a customer an overdraft fee if their bank account balance falls below zero. What started off as a courtesy offered to some customers, the popularity of debit cards beginning in the 1990s led to Americans wracking up tens of billions of dollars in overdraft fees. While big banks have cut back on overdraft fees, smaller banks have not, and a number of them heavily rely on overdrafts to be profitable, industry analysts said.

Persons: Biden, “ It's, Joe Biden, “, Greg McBride, ”, Aaron Klein, ” Klein, Rohit Chopra, ” Chopra, Chopra, Barack Obama, Carter Dougherty, overdrafts, can’t Organizations: Consumer Financial, Biden Administration, Federal Trade Commission, Bank of America, Banking, Bankrate, Brookings Institution, Armed Forces Bank, Republican, Trump Administration, American Bankers Association, Financial Reform

☆ Gold frail as dollar, yields strength dim shine
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were subdued on Tuesday as the dollar and Treasury yields rose, while traders waited to hear from a slew of U.S. Federal Reserve speakers this week for more clarity on the central bank's rate cut prospects. The dollar index touched a 10-day high, making bullion less attractive for other currency holders, while yields on benchmark U.S. 10-year Treasury notes rose above 4%. Elsewhere, European Central Bank officials pushed back against market expectations for rapid rate cuts this year. According to Reuters technical analyst Wang Tao, spot gold may retrace to $2,042 per ounce, after its repeated failures to break resistance at $2,060.

Persons: Christopher Waller's, Matt Simpson, Christopher Waller, Waller, Simpson, Wang Tao Organizations: Co, . Federal Reserve, Index, Fed, Brookings Institution, Traders, Central Bank Locations: Bangkok, Thailand

☆ Fed's Christopher Waller advocates moving 'carefully' with rate cuts
▼ + stars: | 2024-01-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Federal Reserve Governor Christopher Waller acknowledged Tuesday that interest rate cuts are likely this year, but said the central bank can take its time relaxing monetary policy. "When the time is right to begin lowering rates, I believe it can and should be lowered methodically and carefully," he added. "In many previous cycles ... the FOMC cut rates reactively and did so quickly and often by large amounts. I see no reason to move as quickly or cut as rapidly as in the past." In fact, traders had further ramped up expectations for 2024 to seven cuts, but brought it back to six following Waller's remarks.

Persons: Christopher Waller, Waller Organizations: Federal, Washington , D.C, Brookings Institution Locations: Washington ,

☆ A Fed Governor Reiterates That Rate Cuts Are Coming
▼ + stars: | 2024-01-16 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

A prominent Federal Reserve official on Tuesday laid out a case for lowering interest rates methodically at some point this year as the economy comes into balance and inflation cools — although he acknowledged that the timing of those cuts remained uncertain. Christopher Waller, one of the Fed’s seven Washington-based officials and one of the 12 policymakers who gets to vote at its meetings, said during a speech at the Brookings Institution on Tuesday that he saw a case for cutting interest rates in 2024. “The data we have received the last few months is allowing the committee to consider cutting the policy rate in 2024,” Mr. Waller said. While noting that risks of higher inflation remain, he said “I am feeling more confident that the economy can continue along its current trajectory.”Mr. Waller suggested that the Fed should lower interest rates as inflation falls. Because interest rates do not incorporate price changes, otherwise so-called real rates that are adjusted for inflation would otherwise be climbing as inflation came down, thus weighing on the economy more and more heavily.

Persons: Christopher Waller, ” Mr, Waller, “, Mr Organizations: Federal Reserve, Brookings Institution Locations: Washington

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