Housing market gets stronger
The housing market faced one of the biggest selling markets in history last year, and this year began the road to…
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US mortgage rates climb to 7.31%, hitting their highest level in nearly 23 years
By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates surged to their highest level in nearly 23 years this week as inflation pressures…
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Pending home sales plunged last month as mortgage rates hit 20-year highs
US pending home sales dropped 7.1% in August from the month prior as mortgage rates surging over 7% in August to levels not seen in 20 years packed a…
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US consumer confidence is the lowest it’s been in four months
Rising gas prices and high interest rates contributed to greater economic uncertainty and dampened consumer confidence in September, dropping the key…
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New home sales dropped in August as mortgage rates climbed
New home sales dropped in August from the month before, as mortgage rates topped 7% and rose to the highest levels in more than 20…
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US home prices rose in July to record-high levels
US home prices continued to rise in July, hitting a new record high and marking the sixth successive month of gains, as historically low inventory…
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Target citing crime for closing stores shows retailers are fighting an uphill battle
CNN By Parija Kavilanz, CNN New York (CNN) — Target’s decision to close nine of its stores in major cities, citing persistent large-scale…
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Mortgage rates linger above 7% for another week
By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates remained flat this week, hovering over 7%, where they’ve been for six…
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Home prices continued to climb in August, even as sales dropped
Home prices continued to climb in August, even as home sales dropped, a result of the low inventory of homes for sale pushing prices up and…
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Interest rates are high. These are the best places to park your cash
By Jeanne Sahadi, CNN New York (CNN) — Even though the Federal Reserve didn’t hike its benchmark interest rate on Wednesday, it didn’t…
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The Fed hits pause on interest rate hikes while it reviews more data
The Federal Reserve said Wednesday it will pause its rate hikes, keeping its benchmark lending rate at a 22-year…
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Mortgage applications rose last week, despite stubbornly high rates
Mortgage applications rose last week, even as mortgage rates remain stubbornly high, an indication that at least some buyers are determined to move…
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Home building sank in August amid crushing mortgage rates
US home building sank in August, dropping 11.3% from July levels, as mortgage rates stayed elevated amid lingering…
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Consumer retail spending holds steady as recession worries drag on
Shopdog analyzed spending data from the Census to illustrate how American consumers are holding up under continued…
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Idaho’s August unemployment rate increases to 3%
Idaho’s seasonally adjusted unemployment rate increased in August, rising by two-tenths of a percent from 2.8% in July to 3%.…
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Buying a car? What the UAW strike means – and doesn’t mean – for auto sales
By Peter Valdes-Dapena, CNN New York (CNN) — Now that the United Auto Workers union has started a strike, the US auto market is about to be…
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Despite rising gas prices, Americans feel more optimistic about inflation’s future
By Bryan Mena, CNN Washington, DC (CNN) — Rising gas prices haven’t taken their toll on the American consumer just yet, amid growing optimism…
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Mortgage rates inch up, lingering above 7%
US mortgage rates ticked up this week, ending a two-week streak of slight declines. Rates have remained over 7% for five consecutive weeks as…
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Wholesale inflation ticked up last month, exceeding expectations
Wholesale inflation accelerated for the second month in a row, mirroring a similar trend in the Consumer Price Index report, the Bureau of Labor…
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US retail spending picked up in August, mostly due to sales at gas stations
US retail sales picked in August, boosted by higher gas prices, as spending on other items grew…
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Here’s what got cheaper and what got more expensive at grocery stores last month
As overall US inflation heated up last month, consumers got some relief at grocery…
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Car insurance rates just had their biggest annual jump in 47 years. This is why
Across the United States, the cost of car insurance is up 19% compared to a year ago, according to August’s Consumer Price Index report released on…
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US consumer prices continued to rise last month — but the Fed probably won’t raise rates
By Bryan Mena, CNN Washington, DC (CNN) — US inflation accelerated in August for the second-straight month, pushed up by rising gas prices.…
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Inflation woes persist for small businesses as they struggle to hire
America’s small businesses felt gloomier in August as they continued to struggle with inflation and hiring qualified workers, according to a survey…
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America is in a factory boom again. Even a recession may not bring it down this time
On a warm Saturday morning in July, as Kathie Leonard planned to set out on her boat for a day on the water off the coast of Maine, her phone…
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Furniture companies in a rut as fewer people buy big-ticket items
By Samantha Delouya, CNN (CNN) — People aren’t buying furniture like they used to. Last week, a pair of furniture retailers said they are…
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An auto strike looks likely. Should I buy a car now?
If you’re thinking about buying a new car, you might be warily watching news about a possible United Auto Workers…
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The problem with labor data in understanding inflation
US inflation has slowed markedly over the past year as the Federal Reserve raised interest rates aggressively to cool demand and slow price…
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Kroger and Albertsons sell 400 stores to Piggly Wiggly’s parent company
Kroger and Albertsons are selling roughly 400 stores to Piggly Wiggly’s parent company in an attempt to win antitrust approval for the mega merger…
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US consumers are done splurging, Fed report suggests
By Bryan Mena, CNN Washington, DC (CNN) — After a summer of robust consumer spending, America’s bars, hotels and restaurants say the era of…
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The Fed likely won’t raise rates this month — but November is another matter
Last week’s economic data increasingly gave investors hope that the Federal Reserve could hold interest rates steady this month, following a hike…
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The Fed cares a lot about jobs data — but it may be getting mixed signals
According to private payroll processor ADP, US employers hired 455,000 new workers in…
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Here’s why farmers aren’t included in the US monthly jobs report
On what is usually the first Friday of every month, the US Bureau of Labor Statistics releases its Employment Situation Summary, or monthly jobs…
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Why the unemployment rate went up in August even though 187,000 jobs were added
Usually when the economy adds a lot of jobs in a given month the unemployment rate ticks down. That wasn’t the case in…
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The US economy continued to add jobs at a robust pace last month
By Alicia Wallace, CNN Minneapolis (CNN) — The US labor market continues to live its Goldilocks story with healthy job growth but at a far…
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Tourism still strong throughout southeast Idaho
Tourism is still strong throughout Southeast Idaho, and the amount of outdoor opportunities brought a huge spike in tourism numbers during the…
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The Fed’s preferred inflation measure stayed high in July — and consumers are continuing to spend
US inflation may have remained elevated in July, but consumers just wanted to have some…
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The US economy grew more slowly in the second quarter than previously estimated
The US economy grew more slowly in the second quarter than previously estimated — a good sign for the Federal Reserve, which is attempting to cool…
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US pending home sales rose in July for the second month in a row
US pending home sales ticked up in July by 0.9%, rising for the second month in a row despite elevated prices and rising mortgage rates, according to…
Continue Reading US mortgage rates drop after five weeks of climbing, but stay over 7%
By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates ticked down this week, ending a five-week stretch of increases, but remained above…
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US job openings fall below 9 million for the first time since March 2021
By Alicia Wallace, CNN Minneapolis (CNN) — The number of available jobs in the United States shrank for the third consecutive month, dropping…
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US consumers’ mood soured at the end of summer on inflation worries
By Bryan Mena, CNN Washington, DC (CNN) — Americans felt more pessimistic about the economy in August, following two straight months of growing…
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Farmers Insurance to lay off 2,400 workers across its entire business
California-based Farmers Insurance said Monday it is laying off 11% of its workforce — or 2,400 employees — in a bid to restructure itself for…
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Home prices rose for the fifth straight month in June
Home prices rose again in June, marking the fifth successive month of gains, and remaining near the all-time highs notched a year…
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Americans are being asked to consider tipping more often, but is it really required?
Americans are being asked more and more often whether they would like to tack a tip onto their check, sometimes facing a screen that reads “add a…
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Housing, clothing, and food are more expensive: Inflation of these household expenditures defies Fed rate hikes
Shopdog used Bureau of Labor Statistics data to analyze how effective interest rate hikes were at tempering record…
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Consumers are growing slightly more cautious about the economy
By Alicia Wallace, CNN Minneapolis (CNN) — Americans’ attitudes toward the US economy appear to be growing more tepid. The University of…
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US mortgage rates soar to 7.23%, a 22-year high
US mortgage rates continued to surge this week, rising to their highest level since…
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New home sales rose to a 17-month high in July
New home sales rose in July from the month before, beating estimates and reaching a 17-month high, as buyers continue to look to new construction as…
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America added 306,000 fewer jobs last year than we thought. But the labor market is still hot
By Alicia Wallace, CNN Minneapolis (CNN) — US job growth during much of the past year was weaker than previously projected by a little more…
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Job seekers want record-high wages — and men expect $25,000 more than women do
When employers deliver a job offer, it had better come with some teeth: Americans’ wage expectations have hit record highs, according to a Federal…
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S&P downgrades five US banks following Moody’s lead
S&P Global Ratings downgraded five regional US banks by one notch and signaled a negative outlook for several others on…
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US home prices rose in July after 5 months of declines
By Anna Bahney Washington, DC (CNN) — US home buyers have a new challenge in addition to mortgage rates above 7%: Prices are rising again,…
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The US mall is not dying
Retail experts have long sounded the alarm on malls in the…
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As mortgage rates soar over 7%, an unaffordable housing market is becoming even more expensive
An already miserably unaffordable housing market is getting more…
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Why stock investors are suddenly so scared
Many investors are running a sizable profit this year – the S&P 500 is about 14% higher in…
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Mortgage rates soar to their highest level in 21 years
By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates surged this week, rising to their highest level in 21 years. The 30-year…
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Walmart is up. Target is down. Here’s why
Target and Home Depot are slumping. But more shoppers are heading to Walmart for groceries and…
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‘Ho-hum holiday’ spending expected as shoppers deal with economic cross-currents
US consumers, trapped in a web of conflicting signals on the health of the economy and how it impacts their ability to shop, might be forced to spend…
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US home builders ramped up construction in July, beating expectations
US home building increased in July, rising 3.9% from June, as low inventory in the existing home market continued to boost interest in new…
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UK inflation slows to 6.8% but services are getting even more expensive
UK inflation eased to a 17-month low in July, official data showed Wednesday, though it also revealed that prices of services, such as haircuts,…
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US retail spending picked up sharply in July
Spending at US retailers rose in July at a much faster pace than in the prior month, a combination of both strong demand among American consumers and…
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UBS to pay $1.4 billion for selling toxic mortgages prior to the Great Recession
The Justice Department announced on Monday that UBS has agreed to pay $1.4 billion in penalties for allegedly defrauding investors by selling…
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Home Depot’s slowing sales suggest Americans feel lousy about housing
After three straight years of sales growth, Home Depot went into reverse in the first quarter, and sales and profit are expected to tumble again in…
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Homebuilders are facing a massive labor shortage. Here's why it won't get better any time soon
Stacker looked at the state of employment in the home construction industry as well as reasons for the shortage using data from the Labor Department,…
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Where home prices are falling most
SmartAsset analyzed typical home values for 263 cities where the housing market is cooling, ranking them by the size of the…
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Inflation may be cooling — but drivers can’t seem to catch a break
If you’re sitting in rush-hour traffic in Arlington, Virginia, there’s a good chance you’ll spot Hunter Scott in his helmet and elbow pads…
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US wholesale inflation rose more than expected in July
US wholesale inflation rose more than expected in July, reversing a yearlong cooling trend, the Bureau of Labor Statistics reported…
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US inflation means families are spending $709 more per month than two years ago
US inflation has had a snowballing effect on family…
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UK economy records surprise growth. It may not last
The UK economy grew slightly in the three months to June 30, driven by strong rises in manufacturing and consumer and government…
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