By Celine Castronuovo, The Hill Consumer confidence continued to rise in July and is now nearing pre-pandemic levels amid a boost in economic activity following loosened coronavirus restrictions. The Conference Board’s monthly survey found that while the consumer confidence index had a modest increase from 128.9 in June to 129.1
By Megan Henney, FOX Business A federal ban on evictions is poised to expire on July 31, putting millions of renters at risk of being thrown out of their homes in coming weeks as state and local officials struggle to distribute $46 billion in rental assistance to tenants and landlords
By Anneken Tappe, CNN Business New York (CNN Business) – America’s economy isn’t back to normal yet, and much of the recovery depends on consumers: how much they’re spending, how much they decide to participate in public life and even whether they work remotely. And while economists don’t believe a
By Diana Olick, CNBC Sales of newly built homes dropped in June to the lowest level since the early days of the coronavirus pandemic in April 2020, according to data released by the U.S. Census Bureau on Monday. Sales of new single family homes fell to an annualized rate of
By Dian Olick, CNBC Record high home price appreciation is sidelining ever more buyers and finally taking the bang out of the pandemic-induced housing boom. Weekly mortgage demand is falling along with it, down 6.9% for the week according to the Mortgage Bankers Association’s seasonally adjusted index. That is the
By Lorie Konish, CNBC Rising consumer costs have helped push the latest estimate for next year’s Social Security cost-of-living adjustment to 5.3%. Whether that will actually be the bump retirees see to their monthly checks in 2022 depends a lot on the economy, including whether the Federal Reserve decides to
By Greg Iacurci, CNBC More than 400,000 people are poised to lose unemployment benefits this weekend as eight states withdraw early from pandemic-era programs. Alabama, Idaho, Indiana, Nebraska, New Hampshire, North Dakota, West Virginia and Wyoming are opting out of federal unemployment programs, effective Saturday. They’re among 25 states turning
By Jessica Dickler, CNBC As the economy quickly picks up steam in the wake of the Covid pandemic, Americans expect inflation to jump in the months ahead. Overall, the expectation is that the inflation rate will be up to 4% one year from now — a new high for one-year-ahead
By Elizabeth Gravier, CNBC Consumers of all ages carry credit cards, but some generations have larger outstanding balances than others. Members of Generation X have the highest average credit card debt at $7,155, followed by baby boomers and millennials, according to credit bureau Experian’s latest consumer findings. With an average
By Jacob Passy, MarketWatch For much of the past year, Americans weren’t interested in taking on new debt — with one big exception. A new analysis from the Federal Reserve Bank of New York examined how the supply and demand of credit has ebbed and flowed throughout the COVID-19 recession.
