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Will interest rate decline shake up California housing market?

Consumer / Home and Consumer News /

For many prospective homebuyers, the last two years have been brutal as high home prices and mortgage rates produced the most unaffordable housing market since the 2000s bubble.

Many experts don't expect drastic improvement soon, but a shift could finally be underway.

The cost of a 30-year fixed mortgage has fallen from above 7% in May to the ...Read more

Real estate Q&A: What are our rights after new landlord took over lease?

Consumer / Home and Consumer News /

Q: Our landlord recently sold the house we have been renting. The sale happened in the middle of the month, and now the new owner wants us to pay him for the remainder of the month even though we have already paid the prior landlord for the whole month. And he wants us to pay the water bill, even though we never have in the past. What are our ...Read more

US mortgage rates drop to two-year low ahead of Fed rate cut

Consumer / Home and Consumer News /

U.S. mortgage rates declined last week to the lowest level since September 2022 in anticipation of Federal Reserve interest-rate cuts, stoking an influx of applications for home purchases and refinancing.

The contract rate on a 30-year fixed mortgage dropped 14 basis points to 6.15% in the week ended Sept. 13, Mortgage Bankers Association data ...Read more

Karen Ducey/The Seattle Times/TNS

Barely getting by on one income in the Seattle area

Consumer / Home and Consumer News /

Rabi Asghar, 37, didn’t realize just how expensive divorced life would be until after the paperwork was filed and the dust had settled.

Without a partner to split bills, the cost of daily life ballooned. For the first time in years, he found himself having to shoulder the full burden of utilities and groceries on his own. His ex had taken the...Read more

Mark Adams/Dreamstime/TNS

Study: Americans' pay hasn't fully recovered from inflation. Will it ever?

Consumer / Home and Consumer News /

For 13 years, the 3% annual salary boost that Ricardo M. could count on every October felt like a beacon of stability and a nod that his loyalty as a plumbing supply salesman was being rewarded.

But in the aftermath of a post-pandemic inflation surge, those raises have since lost their luster. His grocery bills have doubled. The cost of ...Read more

Dreamstime/Dreamstime/TNS

July Fed meeting preview: As unemployment rises and inflation slows, should officials cut interest rates now?

Consumer / Home and Consumer News /

The last worry on a firefighter’s mind as he extinguishes the blaze of a burning building is the potential for water damage. For the Federal Reserve, the same is often true as it battles inflation; there’s little room for concern about what it could mean for jobseekers.

Until those red-hot price pressures start to fizzle out.

For the first...Read more

Landlords face a $1.5 trillion commercial real estate maturity wall

Consumer / Home and Consumer News /

Landlords for offices, apartment complexes and other commercial real estate have $1.5 trillion of debt due by the end of next year, according to Jones Lang LaSalle Inc. That leaves a gap of as much as $400 billion between the amount owed and the capital available for refinancing.

The value of buildings has broadly dropped after higher interest ...Read more

Real estate Q&A: Can condo board make us pay for renovations to amenities we don't use?

Consumer / Home and Consumer News /

Q: We live in a small condominium. Our board just told us that we need to pay extra each month for the next few years to cover the cost of renovations, including the little gym near the lobby. They did not ask us if we were OK with this or put it up for a vote. We never use the gym. Can they make us pay for this? —Henri

A: In condominium ...Read more

Douglas R. Clifford/Tampa Bay Times/TNS

He pays $2,000 a month for a hotel room, and he can't afford to move

Consumer / Home and Consumer News /

PALM HARBOR, Florida — They drove, windows down, past the big box stores. Past the other roadside motels and hotels, where other families lived.

When they pulled up to the modest house on Guardian Avenue, Richard Rodriguez took a deep breath. He was 52, with kind, tired eyes. He didn’t want to get his hopes up.

It had been four years since...Read more

John J. Kim/Chicago Tribune/TNS

Art Institute announces $75 million gift to create new gallery building on Michigan Avenue campus

Consumer / Home and Consumer News /

The Art Institute announced a transformative $75 million gift Tuesday to construct a new gallery building and begin an ambitious reshaping of its sprawling campus in the heart of downtown Chicago’s lakefront.

The lions will remain at their post in front of the historic 131-year-old main building along South Michigan Avenue, but their ...Read more

Dreamstime/Dreamstime/TNS

Value investing vs. growth investing: Which is better in today's market?

Consumer / Home and Consumer News /

It’s the perennial question among stock investors: which is better — growth investing or value investing? Recently, there’s been little contest. Growth stocks, such as Apple and Nvidia, have handily outperformed value names. But it’s not always that way, and many investors think value will once again have its day — although they’ve ...Read more

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'This is not a bill': How to decipher explanations of benefits and pay for your medical care

Consumer / Home and Consumer News /

Bobbie Putman-Bailey knows how to solve problems when it comes to medical bills and health insurance.

In one instance, upon the surprise realization her specialist doctor had gone out of network for her health plan, the 42-year-old Maple Grove, Minnesota, resident convinced the insurer to overturn coverage denials that could have cost her ...Read more

Eamesbot/Dreamstime/TNS

Gold IRA: Should you open one to save for retirement?

Consumer / Home and Consumer News /

Investors are often drawn to gold during times of high inflation or market turmoil. It’s viewed by many as a safe haven asset and a store of value. If you’re looking to invest in physical gold through an individual retirement account (IRA), you’ll need to open a special type of account known as a gold IRA.

But gold IRAs can come with high...Read more

Sirinarth Mekvorawuth/Dreamstime/TNS

Borrowing money from your home to pay for your child's college

Consumer / Home and Consumer News /

If you’re gearing up to send a child to college, the cost can feel overwhelming. A home equity line of credit (HELOC) or home equity loan could help pay for it — but before leveraging your home ownership stake in this way, you’ll need to balance a number of considerations. Here’s our crash course on the pros and cons of using your home ...Read more

Myung J. Chun/Los Angeles Times/TNS

Newsom vetoes bill that would have offered home mortgage aid to undocumented immigrants

Consumer / Home and Consumer News /

A controversial bill that would have helped undocumented immigrants in California buy homes was vetoed Friday morning by Gov. Gavin Newsom who cited limitations to the program’s existing budget.

Introduced by its lead author, Assemblymember Joaquin Arambula, D-Fresno, Assembly Bill 1840 would have allowed undocumented immigrants to apply ...Read more

DREAMSTIME/TNS

How do stocks perform after the Fed cuts interest rates? Pretty well, actually

Consumer / Home and Consumer News /

The stock market has had a nice run in 2024, but investors have been nervous lately, because many are concerned that a slowing economy may tip over into an outright recession. To thwart that possibility, the Federal Reserve stands poised to lower interest rates, providing stimulus to consumers and businesses, some of whom have been reeling ...Read more

I've been in financial services for 14 years. Here's why I just opened a CD now

Consumer / Home and Consumer News /

I’ve been in financial services for nearly 14 years and have helped customers with the most common deposit products, but this month was the first time I opened a certificate of deposit (CD) for myself.

A CD is an account that typically has a fixed annual percentage yield (APY) for a specific term. What’s more, there’s typically an early ...Read more

Tomasz Bidermann/Dreamstime/TNS

Microsoft pays more than $300 million to buy its Silicon Valley campus

Consumer / Home and Consumer News /

MOUNTAIN VIEW, California — Microsoft has paid well over $300 million to buy a huge Mountain View tech campus the company occupies, a fresh sign of how the software leviathan has established its roots in Silicon Valley.

In a $330 million deal, Microsoft bought an office and research hub at 1045 La Avenida Street in Mountain View where it now ...Read more

Real estate Q&A: What should I do if a hurricane damages my home?

Consumer / Home and Consumer News /

Q: With hurricane season heating up, I am concerned I will not know what to do if a storm damages our house. How can we be prepared and ensure that insurance will pay up? — Maritza

A: From the legal perspective, dealing with hurricanes is similar to other casualty losses, such as fires or floods. To best navigate these tragedies, you must be ...Read more

Crockett County Sheriff's Department/TNS/TNS

'1000-Lb. Sisters' star Amy Slaton left zoo on stretcher before arrest, after alleged camel bite

Consumer / Home and Consumer News /

Amy Slaton Halterman, the "1000-Lb. Sisters" star who was arrested Monday after visiting a Tennessee zoo, was reportedly carried out of the safari park on a stretcher moments before her arrest.

Photos obtained Tuesday by TMZ show EMTs transporting Halterman, 36, into an ambulance while she holds a piece of fabric to one of her arms. The outlet ...Read more