Page 26 - Mark Fleming News Today

Following their largest drop in over a decade one week ago, averages rapidly swung upward as recession talk receded.

Inflation has continued to surge, surpassing 9% in June and hitting another new 40-year high. Here's what that means for interest rates.

Even with the Federal Reserve trying to slam on the brakes, inflation rolled merrily along in June. According to the latest report from the U.S. Bureau of Labor Statistics, released today, the Consumer Price Index rose 1.3% in June on a seasonally adjusted basis after rising 1% in May. But over the past 12 months, the index rose 9.1% before seasonal adjustment, the largest annual increase since the period ending November 1981.

Housing costs were one of the biggest drivers of inflation in June, pushing higher at a pace unseen since 1990, according to the Bureau of Labor Statistics.

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

The U.S. Bureau of Labor Statistics report Friday that the economy added 372,000 jobs in June came as a bit of a surprise, as it contradicts predictions by some of a coming recession. The report also bolsters the thinking that the Federal Reserve will raise interest rates by 75 basis points once again at its meeting later this month. It would be the second-consecutive increase of that size, as the Fed works to bring down inflation from 40-year highs.

Homes in the US are currently the least affordable theyve been since 2006, new statistics have revealed, even as recent interest rate hikes cool the demand for mortgages.

Rising prices and mortgage rates make homeownership unaffordable, report finds

With no easy fix, economist suggests adjustable-rate mortgage and upping one's income

While those born between 1946 and 1964 have largely chosen to age in place, their eventual home downsizing or passing is not likely to result in a large burst of inventory entering the market, according to a report from the MBA’s Research Institute for Housing America.