Markets Insider

The economy is flashing fresh warning signs a recession is on its way, according to Societe Generale. The French bank pointed to three worrying data points that have raised red flags in the past week. The firm is sticking to its recession call despite growing optimism over a soft-landing. The...

3 signs the US economy is nearing a recession have flashed in the last week, SocGen says

New York Post

In recent years, mortgage rates in the US have soared to their highest levels in more than two decades, leaving many potential homebuyers and sellers wary. 

The Federal Reserve’s efforts to combat languishing inflation have played a significant role, as the central bank raised interest rates 11 times from 2022 to 2023, taking the benchmark federal funds rate from 0% to 5.25-5.50%, according to Yahoo Finance.

Today, the median monthly mortgage payment on a new home stands at $2,256, about 7% higher than last year, the Mortgage Bankers Association (MBA) reports. So, when will mortgage rates go down? Experts from Fannie...

This is when you can expect mortgage rates to go down — and why you should buy before a recession hits

America's stimulus-fueled shopping spree looks just about over — and lower spending could be a signal that a consumer-led downturn is on the horizon, economic experts say. Consumers are finally starting to rein in their spending habits, which could weigh on the economy after a long period of robust spending has propped up economic growth over the past few years. Retail spending ticked 0.1% higher in May, but sales volume has dropped 1.3% year-over-year over the last three months, US Census data shows.

Americans' spending patterns are flashing a warning of a possible consumer-led recession

The economy is already in a "selective recession," according to JPMorgan's Matthew Boss. Low-income consumers are pulling back on spending while top-earners are fueling the economy. The top 10% of American earners have gained more than $30 trillion in wealth since 2020, Fed data shows. The US economy is being...

The US economy is in a 'selective recession' as lower-income consumers struggle and high-income households see huge wealth creation, JPMorgan strategist says

TheStreet

Here's what could happen to the U.S. economy next.

Wall Street analyst unveils startling prediction about the economy

The Motley Fool

Don't be put off by this stock's dismal performance lately -- now could be the best time to buy it with interest rate cuts on the horizon.

1 Super Stock Down 93% to Buy Before the Fed Cuts Interest Rates

The average 30-year fixed mortgage interest rate is 7.05% today, down -0.01% over the last week. The average rate for a 15-year fixed mortgage is 6.50%, which is a decrease of -0.05% from the same time last week. For a look at mortgage rate movement, see the chart below. The...

Mortgage Rates Continue to Fall After Fed Decision: Today’s Mortgage Rates for June 13, 2024

California State

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Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

You can still earn 6.00% with the nation-leading CD from Nuvision Credit Union, for a 10-month term. But the maximum deposit is $5,000. Eight more CDs will let you lock in 5.40% or more until 2025, including Paramount Bank's 11-month CD offering 5.55%. Offering a longer rate guarantee is Credit...

Top CD Rates Today, June 28, 2024 - 9 Offers of 5.40% or More, Locked Until Next Year

Missouri State

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CJ Coombs

The first time my family walked into a Ponderosa Steakhouse was in the late 1960s. It was new and the experience was great. Like other new restaurants, if the management doesn't stay on top, the quality of service can decline. The location we went to did change through the years, but in the beginning, it was great.

The 1960s: the Ponderosa and Bonanza Steakhouses are still around in some states

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Anika Jindal

A subtle sign of low intelligence is an inability to understand or appreciate complexity. People with low intelligence may have difficulty understanding abstract concepts or thinking outside the box. They may also be more likely to believe simplistic explanations or conspiracy theories.

12 Subtle Signs Of Low Intelligence

New York City, NY

The e-Texan

New York – As Trump anticipates his sentencing on July 11th in the New York hush money case, Florida Judge Aileen Cannon made a ruling this Monday. Despite rejecting Trump’s legal team's request to dismiss several charges in the classified documents case, she conceded on a minor point. She removed a portion of the charges that referenced an uncharged allegation, but upheld the other charges.

Legal expert says Trump should not be jailed after New York guilty verdict because he is ‘too old’

Norfolk, VA

Cheryl E Preston

Fifty percent of Norfolk church has high blood pressure. 3WTKR reports that Pastor Reverend Dr. Geoffrey Guns of Second Calvery Baptist Church in Norfolk made a startling discovery in March. He asked congregants who had high blood pressure to stand and half of the congregation rose to their feet.

Virginia pastor reveals half of his African American congregation has hypertension

According to Shakey's website, this pizza parlor is only in California, North Carolina, and Washington state in the U.S. now. This was my family's go-to pizza joint when my father was stationed with the Air Force outside of Omaha, Nebraska. We liked it so much, that when we were transferred again, it was hopeful we'd find another one.

Shakey's Pizza Parlor and nostalgia: the first franchised pizza restaurant also landed in Missouri

Reuters

SYDNEY (Reuters) - Australian home prices rose in June for a seventeenth straight month, as tight supply outweighed demand-side pressures of high interest rates, a cost of living squeeze and tight lending conditions, property consultant CoreLogic said on Monday.

Australia home prices keep climbing on tight supply

Massachusetts State

Uber and Lyft have backed ballot measures across the country that improve driver pay but also enshrine their drivers as non-employees. The companies agreed to a deal Thursday that will pay drivers in Massachusetts a new minimum wage and provide benefits. The drivers will remain independent contractors. The pay guarantee...

Uber and Lyft Agree to Raise Driver Pay in Massachusetts

U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve officials about monetary policy and awaited key economic data. Yields and prices move in opposite directions. One basis point is equivalent to 0.01%. Treasurys. Investors digested remarks from Federal Reserve officials about the U.S....

Treasury yields climb as investors weigh comments from Fed speakers

Two out of three middle-income families in the U.S. say they are falling behind the cost of living, according to a new survey. Financial services firm Primerica said that many households are choosing to cook more meals at home to avoid "unreasonably high" prices at restaurants. Inflationary aspects are still...

Two-Thirds of Middle-Income Families Say They Can't Keep Up With Rising Costs

In May, the personal consumption expenditures index—an inflation measure closely watched by the Federal Reserve—held steady, showing unchanged prices from the previous month, while annual prices climbed 2.6% as expected; core prices, excluding volatile food and energy, rose 0.1% monthly and 2.6% annually, the slowest rate since March 2021, with low-income Americans bearing the brunt, stock futures rising, and market predictions hinting at possible Fed rate cuts this year.

May Inflation Spike: Fed’s Key Metric Jumps to 2.6%

New Jersey State

Morristown Minute

NEW JERSEY - Attorney General Matthew J. Platkin and the Division of Consumer Affairs announced today that Walmart has agreed to pay $1.64 million to settle allegations of unlawful unit pricing practices across its 64 New Jersey retail stores. The settlement, which includes a $1.61 million civil penalty, marks the largest ever obtained by the Division’s Office of Weights and Measures (OWM).

Walmart Pays $1.64M Settlement for Unlawful Pricing in NJ

NewsBreak

Will The Pace of Consumer Spending Slow in the Second Half of 2024?

Consumer spending has started to slow in recent months, and economists expect it to continue moderating through the remainder of the year. While inflation is falling,...

Will The Pace of Consumer Spending Slow in the Second Half of 2024?

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