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Mortgage rates are stabilizing, but that may not be enough to help house hunters
Home prices are cooling off and mortgage rates fell last week, but the fallout from recent bank closures could continue to make it hard for some Americans to buy homes, economists say. Mortgage rates fell to 6.32% for a 30-year fixed rate mortgage, Freddie Mac data released on Thursday shows. Last fall, the 30-year fixed […]
Help wanted: Women needed for U.S. chips manufacturing plan to succeed
Natalie Bell was thinking about a career in art after college when a welding class and a delivery of four pizzas changed her career trajectory. “I was taking a delivery out to a construction site and I met an ironworker who I was taking the delivery to,” said Bell, who lives in Columbus, Ohio. “I […]
Silicon Valley Bank’s collapse differs from our last financial crisis
After the largest U.S. bank failure in more than a decade, regional bank stocks plunged on Monday as the federal government — with the 2007-2008 financial crisis still a fresh memory for many — rushed to reassure Americans that the U.S. banking system was stable. President Joe Biden told Americans that the risks taken on by failed banks will […]
Proposed federal rule would lower credit card late fees
As Americans continue to struggle with high credit card rates, the Consumer Financial Protection Bureau has proposed a rule to help lessen some of their financial burden — in the form of lower late fees. The new rule would limit late fees to $8. Currently credit card companies can charge as high as $41 — […]
States that limit business with banks that ‘boycott’ fossil fuels could pay high cost
Republican state policymakers’ efforts to boost fossil fuels by prohibiting their governments from doing business with companies that take sustainability into consideration has the potential to cost states millions, according to a study released Thursday. Researchers looked specifically at the possible effects on Florida, Kentucky, Louisiana, Missouri, Oklahoma and West Virginia if they passed Texas-like legislation limiting […]
Child poverty rates highest in states that haven’t raised minimum wage
Of the 20 states that have failed to raise the minimum wage above the federal $7.25 an hour standard, 17 have more than 12% of their children living in poverty, according to a States Newsroom analysis of wage and poverty data. Anti-poverty advocates say that’s a sign that there’s an urgent need for lawmakers to […]
Here’s why food prices remain stubbornly high even as inflation cools
Shoppers hoping for a little relief at the grocery store for their holiday meals will be disappointed by the Consumer Price Index released Tuesday. The CPI shows inflation cooling but food prices — particularly for some holiday staples — remain high. The CPI increased 0.1% in November, which was lower than some economists expected. During […]
Two communities find a cure for medical debt: pandemic stimulus funds
Local governments in Ohio and Illinois are using American Rescue Plan Act money to relieve residents struggling with medical debt by partnering with an organization that buys debt and wipes the slate clean for debtors. It’s a strategy advocates say could be duplicated across the country to help erase a multibillion-dollar problem. On Nov. 9, […]
Millions of workers are dealing with long COVID. Advocates call for expanding social safety net
Emily Withnall caught COVID-19 from her teenager in July 2020. In the more than two years since, the 40-year-old has suffered from debilitating fatigue, spinal pain and heart palpitations. In addition to her primary care doctor, she regularly sees a cardiologist and says her acupuncturist and craniosacral therapy help relieve her pain and the trouble […]
4 takeaways on the housing report
Housing costs, including rental prices, are on the path to stabilizing but evidence of this won’t show up in inflation measures anytime soon, economists say. The survey used to measure shelter, a large component of inflation, lags real-time data. The CPI increased 0.4% in September. The CPI rose 8.2% for the 12 months ended September […]
GOP leaders target ‘woke’ investments through state pension funds
Republicans in state capitals across the country are targeting an investing concept known as environmental, social and corporate governance criteria, or ESG for short. Describing these investment criteria as “woke” and “misguided activism,” GOP officials argue that by taking these factors into account when making investment choices, financial institutions are putting ideology ahead of making money. Experts on this […]
As rural homelessness increases, HUD aims money at helping people without access to shelters
The Department of Housing and Urban Development has opened up millions of dollars in funding for groups serving unhoused people in rural areas — an unprecedented move by the agency, say housing advocates. People living in cars, parks, and on the street at night, which the agency labels unsheltered homelessness, has increased across the nation, […]