Despite the U.S. economy remaining strong amidst inflation and high interest rates, a recent survey by Affirm revealed that 59% of Americans believe that the country is currently in a recession. This false belief is largely driven by the higher costs of living and the challenges many are facing in making ends meet. According to
Real Estate
With the upcoming election less than 90 days away, Vice President Kamala Harris has chosen her running mate, Minnesota Gov. Tim Walz, while former President Donald Trump has selected Sen. JD Vance of Ohio. As the candidates unveil their personal finance policies, voters are watching closely to see how these policies will impact their wallets.
With record inflation rates hitting the market, the question of whether homeownership is truly a wise investment has been brought to the forefront. The rising home prices, outpacing income growth, are causing concerns among potential and existing homeowners. More than a quarter of homeowners who have mortgages are struggling to cover their housing costs, spending
The recent drop in mortgage rates has had a significant impact on the affordability of homes for potential buyers. With the average rate on the 30-year fixed mortgage falling to 6.4%, the lowest since April 2023, monthly payments have decreased for those looking to purchase a home. In just a few months, the difference in
In response to the Bank of England’s decision to reduce the Bank Rate to 5%, major high street lenders in Britain have begun lowering their mortgage rates. This move comes after over four years without a rate cut, indicating potential relief for households facing financial pressure. HSBC, Santander, and Nationwide are among the lenders that
During a recent political event in Atlanta, Vice President Kamala Harris emphasized her commitment to strengthening the middle class, highlighting the crucial role it plays in fortifying the nation as a whole. Harris articulated her vision of providing relief to families grappling with the escalating cost of living, enabling them not just to survive but
In the midst of an ever-changing real estate landscape, there seems to be a glimmer of hope for prospective homebuyers. According to recent data from the Mortgage Bankers Association, there has been a slight improvement in home affordability this summer. The median new mortgage payment in June dropped to $2,167, a 2.4% decline from the
The Federal Reserve is currently in the process of considering a rate cut in the coming months, a move that has the potential to impact mortgage rates significantly. With the possibility of even small reductions in rates, there could be a notable difference in what homebuyers end up paying. Many individuals looking to purchase a
In recent years, homeowners across the country have been facing an unexpected increase in their homeowners insurance premiums. According to Policygenius, between May 2022 and May 2023, home insurance prices surged by an average of 21% at renewal time. This rise in premiums has been attributed to the escalation of catastrophic severe weather events that
Living in a major city in Asia can be quite expensive, especially in financial hubs like Hong Kong and Singapore. According to data from Numbeo, the monthly rent in Shanghai’s city-center is around $2,700. However, in cities like Hong Kong and Singapore, the cost of living is even higher. A family of four can expect