The average for a 30-year loan increased to 5.22% from 4.99% last week, Freddie Mac said Thursday in a statement. That’s the first increase since July 21.
Vice President Kamala Harris continued to downplay the current state of the economy while she was speaking at a steelworkers union event in Las Vegas on Wednesday. There, Harris touted the White House's claims of zero-percent inflation in July.
Prices at the wholesale level fell from June to July, the first month-to-month drop in more than two years and a sign that some of the U.S. economy's inflationary pressures cooled last month.
The Consumer Price Index report for July shows inflation is up 8.5 percent from a year ago. The Labor Department released the report Wednesday, indicating inflation cooled down from 9.1 percent in June.
Falling prices for gas, airline tickets and clothes helped give Americans a slight break from the pain of high inflation last month, though overall price increases slowed only modestly.
A year ago, L.A.-O.C.'s cost of living was rising at 3.9% annual pace, the Inland Empire was up 6.5%
Sen. Mike Rounds (R-S.D.) asserted that the so-called Inflation Reduction Act would only make the current economic situation worse.
A rising number of Americans are saying their personal finances are getting worse under the current administration. A new Harvard-Harris poll found a majority of 56 percent of Americans said their financial situation has worsened amid President Joe Biden's policies.
Joe Biden praised the passing of the Inflation Reduction Act in the Senate. Following its passage on Sunday, the President released a statement on the legislation.
Billionaire Bill Gates is actively promoting the new Democrat-proposed spending bill due to its "climate change" provisions. In an op-ed for the New York Times, Gates claimed the so-called Inflation Reduction Act could be the most important piece of "climate legislation" in American history.