Economy

Mortgage rates have been surging, making home ownership a lot less affordable for many people. The higher rates have also made people reluctant to sell their current homes, since many would likely have to pay more in mortgages for their next house.

Economy

Mortgage rates just hit their highest since 2002

1:45pm August 17, 2023

by Scott Horsley

The average cost of a 30-year fixed-rate mortgage jumped to 7.09% this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.

Russia is trying to recover from currency dip by hiking interest rates

5:49pm August 16, 2023

by Charles Maynes

Russia has increased interest rates to try to stabilize the country's currency. But it doesn't mean it's running out of money to pay for the war in Ukraine.

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A look at this summer's surprising home building boom

5:28pm August 16, 2023

by Scott Horsley

Builders broke ground on almost 7% more single-family homes in July than in June. New houses are selling quickly, despite high mortgage rates, because of a shortage of existing homes on the market.

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Vegas voters' inflation concerns

4:58pm August 16, 2023

by Deepa Shivaram

It's the anniversary of the Inflation Reduction Act. Voters in Nevada — a key swing state — say inflation is still very much their top issue.

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A person sits near a construction site of residential buildings by Chinese developer Country Garden, in Beijing, Aug. 11. Country Garden is facing major financial challenges.

China's economic woes keep getting worse. Here's why

1:42pm August 16, 2023

by Vincent Ni

China has seen a series of disappointing economic data this year. UBS' Tao Wang explains what went wrong with the anticipated recovery after China's tough COVID restrictions, and what could come next.

Bond yields remain high this year after a miserable 2022 in debt markets. That's raising borrowing costs such as interest rate payments for credit cards.

Economy

Why the sell-off in bond markets could impact you

5:00am August 11, 2023

by David Gura

The bond markets are being hit hard by the Fed's aggressive rate hikes and recent events including a downgrade of the country's ratings. These are three ways in which that could impact the U.S.

The latest inflation report is reinforcing hopes about a soft landing in the economy — or when inflation eases without sparking a downturn.

Economy

Here's where inflation stands today — and why it's raising hope about the economy

4:53pm August 10, 2023

Consumer prices rose 3.2% in July from a year ago, higher than the 3% gain seen in June — but it was largely due to math. Overall, inflation continues to ease, raising optimism about the economy.

Yellowstone's later seasons were filmed in Montana.

Hollywood strikes' economic impacts are hitting far beyond LA

4:42pm August 10, 2023

by Tilda Wilson

The writers and actors strikes in Hollywood are affecting jobs across the U.S. The Motion Picture Association says film and TV productions employ more than 1.7 million people outside California.

July prices give hope the economy may come under control without going into recession

4:39pm August 10, 2023

Gas and groceries got more expensive in July, but the price of most other goods was down. The Federal Reserve may be able to bring inflation under control without tipping the economy into recession.

A sign points visitors toward the financial services department at Grady Memorial Hospital, in Atlanta.

Getting clear prices for hospital care could get easier under a proposed rule

10:50am August 10, 2023

by Julie Appleby

The Biden administration wants hospitals to do more to make their prices understandable, so that consumers know in advance what a health care service will cost them.