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Mortgage rates surge, closing in on 7%
Mortgage rates surged for the sixth week in a row, moving closer to 7%. The 30-year fixed-rate mortgage averaged 6.70% in the week ending September 29, up from 6.29% the week before, according to Freddie Mac. That’s the highest level since July 2007. Mortgage rates...
Where and when is Hurricane Ian going to make landfall in Florida?
Hurricane Ian is expected to make landfall in Florida soon. The eyewall of the hurricane is already moving over the coast. Hurricane Ian remains a high-end Category 4 cyclone with sustained winds of 155 mph (249 km/h) and higher gusts, which will make it the strongest...
Forget a soft landing. The market’s best hope is a ‘growth’ recession
Investors are waking up to the harsh reality of just how much pain the economy may have to endure as the Federal Reserve continues its fight against stubbornly high inflation. The Fed darkened its tone at last week's policy meeting, warning of serious economic...
Mortgage rates rise to highest level since 2007 after latest Fed interest-rate hike
Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2007 as the Federal Reserve intensified its effort to tamp down decades-high inflation and cool the economy. Mortgage buyer Freddie Mac reported Thursday...
South Florida cruise industry “cruising” along post pandemic
During the height of the pandemic and months afterward, the cruise industry took a major hit. Most cruise lines lost billions of dollars after ships were docked for months and travel halted. "You went from an industry that was thriving to one that shut down...
Inflation means the IRS could soon change your tax bracket. Here’s what to know.
Every year, the IRS adjusts many provisions to account for the impact of inflation, ranging from individual tax brackets to how much you can save in your individual retirement account, or IRA. With inflation running near a 40-year high, experts say some major changes...
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