Demand for mortgages has fallen to a multi-decade low amid rising interest rates that have hit record levels, according to the Mortgage Bankers Association (MBA). MBA’s Market Composite Index, which measures the volume of loan applications, fell 4.5 percent for the week ending Oct. 14 from a week earlier on a seasonally adjusted basis, an…
Mortgage Demand Slumps to 25-Year Low as Rates Climb
October 20, 2022
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8 Leadership Books That Will Help Make You Money in 2023
The pandemic forced most businesses to make rapid strategic shifts. Those in leadership who successfully navigated the brief but deep early-pandemic recession made themselves more resilient to fiscal shocks by running leaner and focusing on the core product or service lines. Today, the global economy is faltering again. This additional wobble is partly due to…
Closing Prices for Crude Oil, Gold and Other Commodities (Oct. 19)
October 19, 2022
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Benchmark U.S. crude oil for November delivery rose $2.73 to $85.55 a barrel Wednesday. Brent crude for December delivery rose $2.38 to $92.41 a barrel. Wholesale gasoline for November delivery rose 10 cents to $2.65 a gallon. November heating oil fell 9 cents to $3.90 a gallon. November natural gas fell 29 cents to $5.46…
How Major US Stock Indexes Fared Wednesday Oct. 19, 2022
Stocks closed lower on Wall Street, reversing course after two days of gains. Major indexes are still higher for the week despite the declines, which pulled every sector lower except energy. Treasury yields continue to climb to multiyear highs, tempting investors with higher returns on relatively low-risk investments. The yield on the two-year Treasury rose…
Majority of Americans Say They Are Suffering Financially This Year Due to Inflation
Record-high inflation is beginning to affect the majority of ordinary Americans’ standard of living this year. More than two-thirds of workers, or 72 percent, admit that they are worse off financially than than in 2021, primarily due to higher prices, according to a report by Salary Finance. This is an increase from the 55 percent…
Reality vs. Perception Makes My Head Hurt
Had it not been required to graduate, I would never have taken the class titled simply: Philosophy. Abstract thinking makes my head hurt. That’s why I felt a headache coming on when I heard television psychologist Dr. Phil say on his show, “There is no reality, only perception.” In a flash I was back in…
Social Security COLA for 2023
In mid-October every year, the Bureau of Labor Statistics releases its much-anticipated report on changes (usually increases) to the Consumer Price Index over the past 12 months. Why is this little, esoteric government report—actually called the Consumer Price Index for Urban Wage Earners and Clerical Workers—so popular? Because for the past 48 years, it’s the…
Retirement: A Questionable Snapshot of Future Income
By Sandra Block From Kiplinger’s Personal Finance It’s not unusual for savers to ignore their 401(k) statements during market downturns, and that’s not necessarily a bad strategy. If you’re years from retirement, you’ve got plenty of time for your investments to recover, and sticking your statement in a drawer could prevent you from taking actions…
IRS Releases Inflation Adjustments for 2023 Taxes: Here’s What It Means for You
As the cost of living has soared for Americans battling against chronic inflation, the Internal Revenue Service (IRS) may be bringing some welcome relief. The federal agency announced on Oct. 18 a string of new annual inflation adjustments that will impact the 2023 tax year, potentially bringing a boost to your paycheck, particularly if your salary hasn’t kept up…
Employee Faces Criticism From Someone Who Is Not His Direct Supervisor
By Kathleen Furore From Tribune Content Agency I recently spoke with someone who was irritated when a supervisor who had no authority to comment on his performance told him she had noticed him while observing one of her charges. She said she couldn’t see what he was accomplishing, then asked him to explain in detail…
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