The Daily Money: The big question for home shoppers: Buy or rent?
It's finally Friday, readers. Take a deep breath, exhale, and know you have almost reached the weekend. It's Brett Molina back with your Daily Money headlines.
This isn't your ordinary Friday. Today could provide some important clues on where the economy is headed. Federal Reserve chief Jerome Powell speaks at a conference in Jackson Hole, Wyoming, during which he might share hints on whether the central bank will slow down aggressive interest-rate hikes.
So far, experts are split on which direction Powell will take: a continued push toward aggressive rate hikes, or a slower pace indicating the pressures of inflations are easing.
Paste BN will have live coverage of Powell's remarks. Stay tuned.
🏠 A home shopper's dilemma: Rent or buy? 🏠
With housing prices still surging and interest rates bouncing all over the place, many people looking to buy a home are now debating whether they should rent instead. The average 30-year fixed mortgage rate went from 3.22% in January to 5.55% as of Thursday, according to Freddie Mac. However, the median monthly asking rent in the U.S. topped $2,000 for the first time in May.
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Changes to Google search and maps. Services will label health care facilities that provide abortions.
Traveling during pandemic. Exposed to COVID? CDC says get a private vehicle.
🍔 Today's Menu 🍔
New York City is home to a new pastry generating a lot of internet buzz. It's called the Suprême. It's a round croissant filled with cream and drizzled with chocolate. But is it better than the cronut?
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.
Follow Brett Molina on Twitter: @brettmolina23.