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Average Long-Term US Mortgage Rises To 6.94%

The average rate on a 30-year mortgage rose to 6.94% from 6.90% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.65%. The average rate is now just below its highest level since mid-December, when it was 6.95%.

The Fed’s Preferred Inflation Gauge Picked Up Last Month, a Sign of Still-Elevated Prices

The government reported Thursday that prices rose 0.3% from December to January, up from 0.1% in the previous month. But in a more encouraging sign, prices were up just 2.4% from a year earlier, down from a 2.6% annual pace in December and the smallest such increase in nearly three years.

Many Small Business Owners See 2024 as a ‘Make or Break’ Year, Survey Shows

Many are still facing tough issues like a volatile economy, a polarizing election on the horizon and declining sales.

What Recession? Forecasters Raise Expectations for US Economy in 2024

Economists also more than doubled their estimates for the number of jobs gained across the economy this year.

Public Companies / Restaurants & Food / Retail / Small Business

Consumers Are Increasingly Pushing Back Against Price Increases — And Winning

Inflation has changed the way many Americans shop. Now, those changes in consumer habits are helping bring down inflation. read more >
Restaurants & Food / Small Business

US Leisure & Hospitality Employment Near Pre-Pandemic High

The number of employees in the leisure and hospitality sectors in the United States stood at 16.8 million in January, just short of the pre-pandemic high of 16.9 million in […] read more >
Banking & Finance / Government & Politics / Investments / Real Estate

Fed Minutes: Officials Worried That Progress on Inflation Could Stall in Coming Months

Some officials “noted the risk that progress toward price stability could stall, particularly if aggregate demand strengthened” or that the progress in improving supply chains could falter. read more >
Insurance / Real Estate

Home Sales Rose in January as Easing Mortgage Rates, Higher Inventory Enticed Homebuyers

Existing home sales rose 3.1% last month from December to a seasonally adjusted annual rate of 4 million, the National Association of Realtors said Thursday. read more >
Construction / Manufacturing / Technology

Robots and Happy Workers: Productivity Surge Helps Explain US Economy’s Surprising Resilience

The productivity boom marks a shift from the pre-pandemic years, when annual productivity growth averaged a tepid 1.5%. read more >
Banking & Finance / Retail / Small Business

Consumer Sentiment Edges Higher as Economic Growth Accelerates and Inflation Fades

Still, consumer sentiment remains 6% below its long-run average after the worst spike in inflation in four decades pushed up the cost of groceries, rent, gas, and other necessities, frustrating many consumers. read more >
Banking & Finance / Energy / Health Care / Insurance / Real Estate / Restaurants & Food / Tourism

US Inflation Slows in January, but Remains Elevated

The prices of services — hotel rooms, restaurant meals, auto insurance, apartment rents and the like — are still rising faster than they did before the pandemic and keeping overall inflation persistently high. read more >
Banking & Finance / Investments / Nonprofits / Small Business

Report: Wealth Disparities by Race Grew During The Pandemic, Despite Income Gains

According to a report from the New York Federal Reserve Bank, the real net worth of white individuals has outgrown that of Black and Hispanic individuals by 30 percentage points and 9 percentage points, respectively. read more >
Media & Marketing / Public Companies / Retail

Brands Prune Offerings to Focus on Best Sellers

Many companies think they're also doing shoppers a favor, with studies showing that fewer choices, not lots of variety, actually encourage shoppers to buy more. read more >
Energy

US Oil, Gas Production Set Records in December, EIA Says

Domestic consumption of natural gas had a record month in January due to a stretch of brutal winter weather. read more >
Tourism

Sports Betting Revenue Hit $7.5B in 2022

Sports betting continues to explode in the United States since its legalization starting in 2018, with gross gaming revenue from sports betting reaching $7.5 billion in 2022. That’s according to […] read more >
Banking & Finance / Business Services / Energy / Health Care / Manufacturing / Media & Marketing / Public Companies / Restaurants & Food / Retail / Small Business / Technology / Tourism / Transportation

Where The Jobs Are: Strong Hiring in Most Industries Has Far Outpaced High-Profile Layoffs

Data provides compelling evidence that most companies, large and small, are confident enough in the economy to keep hiring. read more >
Real Estate

Home Prices Jumped by The Most in Almost a Year in November

S&P Dow Jones Indices’ CoreLogic Case-Shiller national home price index rose 5.1% over the 12 months ended in November. That’s the index’s fifth straight annual gain and the biggest since December 2022. read more >

US Worker Paycheck Growth Slowed Late Last Year, Pointing to Cooling in a Very Strong Job Market

Compensation as measured by the government's Employment Cost Index rose 0.9% in the October-December quarter, down from a 1.1% increase in the previous quarter. read more >
Banking & Finance / Construction / Education / Government & Politics / Health Care / Manufacturing / Real Estate / Restaurants & Food / Retail / Small Business

Job Growth in Little Rock Metro Surpasses Pre-Pandemic Peak

More businesses are looking to hire — the challenge will be finding workers. read more >
Health Care / Small Business

Small Business Payroll Growth is Moderating, but That Could Mean More Sustainable Growth Ahead

The healthcare industry, meanwhile, is still seeing strong payroll growth, reflecting post-pandemic staffing increases and higher demand for health services among aging baby boomers. read more >
Banking & Finance / Manufacturing / Retail / Small Business / Tourism

American Consumers Feeling More Confident Than They Have in Two Years

The Conference Board, a business research group, said Tuesday that its consumer confidence index rose for the third straight month. read more >
Government & Politics / Small Business

US Job Openings Rose in December, Pointing to Still-Durable Labor Market

Still, in a cautionary sign, layoffs rose in December. And the number of Americans quitting their jobs — a sign of relative confidence in their ability to find a better position — dipped to the lowest level since January 2021. read more >
Real Estate / Small Business

Small Biz Owners Scale Back Their Office Space or Go Remote Altogether

While the real estate decisions of big companies get much of the attention, small business owners are also reassessing what they need in terms of an office. read more >
Agriculture & Poultry / Banking & Finance / Business Services / Construction / Manufacturing / Restaurants & Food / Retail / Technology / Transportation

US Economy Grew at Surprisingly Strong 3.3% Pace in Q4

WASHINGTON (AP) — The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest […] read more >