Buyers head into an open house in Waldorf, Maryland. Lisa Rizzolo | CNBC The nation’s housing market has never been this tight, which is frustrating enough for house hunters, but now they have another problem. Mortgage rates, which have hovered around record lows since the start of the pandemic, are now rising. It’s what one
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A home for sale in Susanville, CA. Gary Coronado | Los Angeles Times | Getty Images Rising interest rates are causing big headaches for mortgage lenders, especially those who depend most on refinance business. Demand is simply drying up. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less)
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Representative Judy Chu, a Democrat from California, speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol in Washington, D.C., on Thursday, April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images As Democrats debate Build Back Better, the social and climate spending plan may still include changes to
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Traders work on the floor of the New York Stock Exchange (NYSE) on January 18, 2022 in New York City. Spencer Platt | Getty Images Stock futures rose on Wednesday night after Federal Reserve chairman Jerome Powell provided an update on the central bank’s plans to raise rates, saying there’s “quite a bit of room”
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Note: The following is Tax Foundation testimony on Kansas House Bills 2484 and 2487 (Neutral), submitted to the Kansas House Committee on Taxation on January 25, 2022. Chairman Smith and Members of the Committee: My name is Katherine Loughead, and I am a Senior Policy Analyst at the Tax Foundation. I appreciate the opportunity to speak
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The Federal Reserve laid the groundwork for interest rate hikes Wednesday. At the conclusion of its two-day meeting, the central bank said it will aggressively unwind last year’s bond buying after a variety of inflation reports reached their highest levels in decades. Although interest rates will stay near zero for now, Fed officials set the stage
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In this article TSLA Elon Musk, Founder and Chief Engineer of SpaceX, speaks during the Satellite 2020 Conference in Washington, DC, United States on March 9, 2020. Yasin Ozturk | Anadolu Agency | Getty Images Tesla reports fourth-quarter results for 2021 on Wednesday after the bell. Here’s what Wall Street analysts expect: Earnings (adjusted): $2.36 per share
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The Good Brigade | DigitalVision | Getty Images Diversity among financial planners improved in 2021 though the industry remains one that leans heavily toward white men, according to statistics issued Wednesday by the Certified Financial Planner Board of Standards. The group, which issues the certified financial planner designation, saw a pronounced uptick in female, Black
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