Benchmark U.S. crude oil for October delivery rose $1.15 to $94.89 a barrel Wednesday. Brent crude for October delivery rose $1 to $101.22 a barrel. Wholesale gasoline for September delivery fell 13 cents to $2.80 a gallon. September heating oil rose 17 cents to $4.01 a gallon. September natural gas rose 14 cents to $9.33…
Closing Prices for Crude Oil, Gold and Other Commodities (Aug. 24)
August 24, 2022
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US Home Prices in July Decline for First Time in Three Years
August 24, 2022
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Business & Marketseconomyhome priceshousing supplyinflationMarketsmortgage ratespersonal financereal estaterecessionUSUS NewsUS Real Estate
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U.S. home prices fell 0.77 percent from June to July, for the first monthly decline in nearly three years, according to preliminary July home sales data from Black Knight, a mortgage analytics firm. The apparently mild drop in prices is the largest single-month decline in prices since January 2011. It also was the second-worst performance for…
Family Maximum Doesn’t Apply to Couples
I frequently get questions from soon-to-be retirees who have heard about a “family maximum” that applies to Social Security benefits, and they are afraid that rule will reduce the benefits they are due as a couple. So, here is the message of this column: The family maximum rules do not apply to a husband and…
New Home Sales Sink to Six-Year Low as ‘Housing Recession’ Deepens
August 24, 2022
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Business & MarketseconomyHome salesinflationMarketsmortgage ratepersonal financereal estaterecessionUS Real Estate
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U.S. home sales fell more than expected in July, to their lowest level in six years, due to a rise in mortgage rates and a surge in housing prices, forcing prospective homebuyers out of the market, according to July data from the U.S. Census Bureau. New single-family home purchases dropped 12.6 percent, to a seasonally adjusted…
3 Reasons Not to Tap Your Home Equity Right Now
August 24, 2022
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BrightEstatehome equityhousing pricesmortgagepersonal financereal estateUncategorizedWealth Management
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Soaring real estate values mean many homeowners are awash in equity—the difference between what they owe and what their homes are worth. The average-priced home is up 42 percent since the start of the pandemic, and the average homeowner with a mortgage can now tap over $207,000 in equity, according to Black Knight Inc., a…
Buy Groceries With These ‘Hacks’ and Save
There are excuses from the pandemic and the war in Ukraine to the rising gas costs associated with inflation, but the bottom line is that food prices are up: 10.4 percent year over year from June 2021 to June 2022. You might feel you need to take out a second mortgage to go grocery shopping,…
Is Social Security Running Out of Money?
The Build Back Better bill that Congress sent to the Senate had several social reforms. It proposed more spending on Medicaid and offered hearing benefits through Medicare. But Social Security wasn’t mentioned. When the Senate passed the Inflation Reduction Act, it also didn’t address Social Security. Social Security is running out of funding. The Social…
The Savings Game: How to Lower Your Prescription Drug Costs
By Elliot Raphaelson From Tribune Content Agency If you use Part D of Medicare to help cover your prescription costs, Medicare has recommended five ways to lower your costs. I’ll summarize them below and add a further recommendation. Consider Switching to a Generic Prescription If you are using a name-brand prescription that is expensive—the costs…
Closing Prices for Crude Oil, Gold and Other Commodities (Aug. 23)
August 23, 2022
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Benchmark U.S. crude oil for October delivery rose $3.38 to $93.74 a barrel Tuesday. Brent crude for October delivery rose $3.74 to $100.22 a barrel. Wholesale gasoline for September delivery rose 4 cents to $2.93 a gallon. September heating oil rose 6 cents to $3.84 a gallon. September natural gas fell 49 cents to $9.19…
How Major US Stock Indexes Fared Tuesday Aug. 23, 2022
Stocks drifted to a mixed close on Wall Street, as steadying Treasury yields help calm the market following its worst tumble in months. The S&P 500 slipped 0.2 percent Tuesday. It’s coming off Monday’s 2.1 percent drop, which came on the heels of its first losing week in the last five. Volatility has returned to…
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