Columbus, OH

CBS News

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  It may be hard to believe now, but it wasn't that long ago that mortgage interest rates were near historic lows. On August 27, 2020, the average rate on a 30-year loan was 2.91%. One year later, it had dropped even further to just 2.86%. However, as the pandemic and influencing economic factors waned, inflation rose dramatically and by June 2022 it was at a 40-year high. Interest rates soon followed, and by August 2023, the average mortgage interest...

Here's when mortgage interest rates could fall below 6%

Business Insider

These are today's mortgage and refinance rates. Mortgage rates should continue to trend down this year as the Fed gears up to start cutting rates.

Mortgage Interest Rates Today, August 24, 2024 | Rates Low as Powell Signals Fed Cuts

The Guardian

Live coverage as investors wait for signs at Jackson Hole summit of how fast US central bank will cut interest rates starting in September

Federal Reserve’s Jerome Powell says ‘the time has come’ for US interest rate cuts – as it happened

Lauren Saidel-Baker, economist at ITR Economics, discusses Powell's comments at Jackson Hole and U.S. market expectations.

A 25-basis-point cut by the U.S. Fed is 'all but cemented for September,' economist says

The Associated Press

WASHINGTON (AP) — The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business.

Americans’ refusal to keep paying higher prices may be dealing a final blow to US inflation spike

America’s top central banker has unambiguously signaled that lower interest rates are finally on the horizon, marking a crucial milestone for the Federal Reserve’s historic — and, so far, successful — inflation fight.

‘The time has come’: The Fed just sent a crucial message about its next move

Mortgage rates have fallen four months in a row, and they'll probably go down in September and extend the streak to five months. There are two related reasons: Inflation is subsiding, and the Federal Reserve is about to reduce short-term interest rates. Before getting into what's expected in September, let’s...

September Mortgage Outlook: Rates Should Fall Again

Markets Insider

"The time has come for policy to adjust," Fed Chair Jerome Powell said at Jackson Hole, Wyoming, all but confirming an interest-rate cut in September.

Americans just got the biggest confirmation yet of an interest-rate cut next month — but the job market hangs in the balance

Reuters

ORLANDO, Florida (Reuters) -Jerome Powell's Jackson Hole speech has turned Sept. 6 and Sept. 18 into the two most important dates for U.S. monetary policy in years, as events on both days center on the Fed's new guiding light: the unemployment rate.

Unemployment rate is now Fed's undisputed lodestar: McGeever

WashingtonExaminer

Inflation remained at 2.5% for the year ending in July, the Bureau of Economic Analysis reported Friday in an update to the personal consumption expenditures price index, the gauge favored by the Federal Reserve. Inflation is now matching the lowest such rate since February 2021, just after President Joe Biden took office. It is some welcome news for Vice […]

Inflation remained at 2.5% in July in Fed’s preferred gauge

Georgia State

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Daily Coffee Press

According to officials with the Southern District of Georgia, two recently unsealed federal indictments have charged 23 defendants in a series of broad conspiracies involving the use of drones to smuggle methamphetamine, marijuana, and cell phones into state prisons in Georgia.

23 Defendants Charged in Federal Indictments for Drone-Smuggling Drug Operation in Georgia

CBS Sacramento

Inflation rose at a temperate pace in July, cementing thoughts of interest-rate cuts by the Federal Reserve, according to economic data released on Friday.Wall Street applauded the development, with stock futures adding to their gains after the Commerce Department reported prices increased 0.2% in July from June. Inflation held steady from a year ago at 2.5%. The gauge increased 1.7% on a three-month annualized basis, the slowest in 2024. Excluding volatile food and energy costs, so-called core inflation rose 0.2% in July from June. Over a year, core prices gained 2.6%. Economists tend to see core prices as offering a better...

Inflation remains cool, clearing way for Fed interest rate cut

Wyoming State

Buffalo, WY

WyoFile

The House Draw Fire burning in northern Wyoming grew to more than 163,000 acres on Thursday — nearly the combined size of Denver and Salt Lake City — threatening structures, prompting evacuation orders and forcing the closure of Interstate 90.

Wildfire burns 163,000 acres in northern Wyoming, forcing evacuations and I-90 closure

The Independent

UK inflation rose to 2.2 per cent in July, marking the first increase this year and increasing the chances the Bank of England keep interest rates at the same level when they meet next month.The Consumer Prices Index (CPI) inflation rose from 2 per cent in June, but undershot economists’ expectations who had forecast it rising to 2.3 per cent.However, despite the smaller than anticipated inflation increase, it is still above the Bank’s target of 2 per cent and casts doubt on back-to-back interest rate cuts at September’s meeting.CPI services price inflation, which is closely monitored by the Bank, fell...

Inflation rises to 2.2% for first time this year in blow to interest rate cut next month

TheConversationAU

Just three weeks ago, Reserve Bank Governor Michele Bullock declared interest rate cuts unlikely in the next six months. But if there was any doubt about what’s going to happen to global interest rates, the US Federal Reserve chair Jerome Powell removed it on Saturday.

Before an audience of central bankers from around the world (including the deputy governor of Australia’s Reserve Bank Andrew Hauser), Powell declared the long-awaited US rate cuts were about to begin.

“The time has come for policy to adjust,” Powell said, with a refreshing clarity that left no room for ambiguity.

“The direction of travel is clear, and...

Stand by for interest rate cuts: the US is about to start, so expect Australia to follow

The Oklahoma City Sentinel

Mortgage rates fell this week after the chair of the Federal Reserve uttered long-awaited, market-moving words.
                "The time has come for policy to adjust," Fed Chair Jerome Powell said Aug. 23 in a speech. Translated from Fedspeak to English, this means, "We're going to cut interest rates soon."
                Investors already were betting that the Federal Reserve would reduce the federal funds rate at the central bank's next meeting, Sept. 17-18....

Weekly Mortgage Rates Drop, Easing Affordability

Understand how websites and apps are designed to manipulate you and what you can do about it. Do you ever find yourself wasting time trying to close a pushy pop-up? Or discover that you’re subscribed to something you don’t remember signing up for? These things happen to all of us when website and app designers use tricks to influence our behavior. In this episode, host Yanely Espinal talks with professor Jasmine McNealy, a tech and data researcher at the University of Florida, about dark patterns: what they are, where to look for them and how to protect yourself.

Don’t be fooled by dark patterns!

"The Fed raised rates 500 basis points under a false presumption — by over one million — of just how robust the jobs market was": David Rosenberg

A famed economist who called the 2008 recession warns the Fed is behind on rate cuts — and that a downturn is coming despite 'off the charts' investor sentiment

Chicago, IL

Fortune

In a Fortune exclusive, Chicago Fed president Austan Goolsbee discusses working with Jerome Powell, base rate cuts, and Fed independence.

Chicago Fed president warns falling inflation and high interest rates could make things worse

Arizona State

Palm Springs Tribune

In an effort to target traditional Republican voters who are not part of the MAGA movement, the Harris campaign has announced the “Republicans For Harris” movement. The group has secured key endorsements from some high ranking republicans with a notable array of former Trump White House officials, including Stephanie Grisham and Olivia Troye. The group also includes former Secretaries Chuck Hagel and Ray LaHood, as well as former Governors Jim Edgar, Bill Weld, and Christine Todd Whitman. Additionally, it boasts support from former U.S. House members such as Rod Chandler, Tom Coleman, Dave Emery, Wayne Gilchrest, Jim Greenwood, Adam Kinzinger, John LeBoutillier, Susan Molinari, Jack Quinn, Denver Riggleman, Claudine Schneider, Christopher Shays, Peter Smith, Alan Steelman, David Trott, and Joe Walsh. Former GOP State Chair and State Senator Chris Vance is also among the endorsers, along with many others.

Republicans For Harris Group Launches While Trump Insults Key Georgia Republican

NewsBreak

As a rate cut looms, can the Fed stick the landing?

Interest rates in America are guided by a key inflation reading released today, and it came in line with expectations. What does can recent economic data...

As a rate cut looms, can the Fed stick the landing?

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