high

As home prices fall, Southern Californians who bought at the high are nervous

As home prices fall, Southern Californians who bought at the high are nervous

Christine and Michael Hawkins in their recently purchased condo in Canoga Park. The Hawkins took out a mortgage at the peak of their budget and planned to refinance when rates fell. Now they fear that they will not be able to refinance. (Mel Melcon/Los Angeles Times) Soaring mortgage interest rates threatened to crush Michael and …

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As home prices fall, Southern Californians who bought at the high are nervous

As home prices fall, Southern Californians who bought at the high are nervous

Soaring mortgage interest rates threatened to crush Michael and Christine Hawkins’ dream of home ownership. But this fall, when the couple saw a Canoga Park condo languishing on the market, they hatched a plan. They would submit a “low ball” offer that they could accept if they reduced their vacations, shopping and dining out. In …

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Fed to keep interest rates high all next year, making recession very likely: survey

Fed to keep interest rates high all next year, making recession very likely: survey

SlateStone Wealth Chief Market Strategist Kenny Polcari discusses whether the U.S. economy has moved past peak inflation after November’s wholesale inflation report beat expectations on “Varney & Co.” The Federal Reserve is expected to keep interest rates high through 2023, dashing Wall Street’s hopes of lowering rates in the second half of 2023 and all …

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401(k) 'hardship' withdrawals hit record high, Vanguard says — another sign households are feeling the pinch of inflation

401(k) ‘hardship’ withdrawals hit record high, Vanguard says — another sign households are feeling the pinch of inflation

Thomas Barwick | Stone | Getty Images The share of retirement savers who withdrew money from a 401(k) plan to cover financial hardship hit a record high in October, according to data from the Vanguard Group. This dynamic – when combined with other factors such as rapidly rising credit card balances and falling personal savings …

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Opinion: High debts and stagflation will bring the mother of all financial crises

Opinion: High debts and stagflation will bring the mother of all financial crises

NEW YORK (Project Syndicate) – The global economy is heading for an unprecedented confluence of economic, financial and debt crises, following the explosion of deficits, borrowing and debt over the past few decades. In the private sector, the mountain of debt includes that of households (such as mortgages, credit cards, car loans, student loans, personal …

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401(k) Hardship Withdrawals Hit an All-Time High of 'Worrying', Says Vanguard

401(k) Hardship Withdrawals Hit an All-Time High of ‘Worrying’, Says Vanguard

Amid stubbornly high inflation, a record proportion of Americans are turning their 401(k) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of about 5 million employer-sponsored 401(k) accounts that Vanguard manages, the researchers said that 0.5% of account holders made difficult withdrawals in October. It’s a “worrying” all-time high, said …

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Here's How High Prices Really Affect Consumers During The Holidays

Here’s How High Prices Really Affect Consumers During The Holidays

Apparently, all the media is beating the drum about the high costs of vacation-related goods and services. It is as it should be. After all, giving consumers an idea of ​​what their holiday budget faces in December is very helpful, especially as the cost of goods rises in a highly inflationary economy. What is less …

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Shopper participation hit record high over Black Friday weekend, retail group says

Shopper participation hit record high over Black Friday weekend, retail group says

A customer searches for shoes at a Macy’s store during the Black Friday sale on November 25, 2022 in Jersey City, New Jersey. Kena Betancur | Getty Images A record number of holiday shoppers – 196.7 million – have returned to stores in droves and searched for deals from Thanksgiving Day to Cyber ​​Monday, according …

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New England's high heating costs exacerbated by the feds

New England’s high heating costs exacerbated by the feds

Power the Future executive director Daniel Turner joined ‘Kennedy’ to discuss reports that fuel oil inventories in the North East and New England have fallen to a third of normal levels. Home heating bills are skyrocketing across the country amid already high energy costs, and the North East is expected to be hit hardest this …

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