The Daily Money: To shop, or not to shop
Good morning! It’s Daniel de Visé with your Daily Money, Friday consumer edition.
Sheila Harrison stopped shopping at Target as soon as she learned the company had rolled back some of its diversity initiatives. She was disappointed and annoyed.
Harrison plans to participate in the national 24-hour economic blackout that started Friday. She and many others say they are using their wallets to push back against companies they believe have reneged on pledges to support diversity, equity and inclusion programs.
What's with all these store closures?
Consumers are going to have fewer places to shop as in-person retail stores continue to close, Betty Lin-Fisher reports.
This week, Joann became the latest retailer to announce that it will close 800 stores nationwide. That comes on top of other retailers announcing specific location closures, such as JCPenney, Macy's, Big Lots and Kohl's.
But it remains to be seen whether shoppers will have less choice or have to pay more.
Mortgage rates fall, but homes aren't selling
Rates for home loans fell to a 10-week low, Andrea Riquier reports, but the housing market is still stalled.
In the week ending Feb. 27, 30-year fixed-rate mortgages averaged 6.76%, Freddie Mac announced Thursday. That’s the sixth straight weekly decline for the popular mortgage product, and its lowest level since before Christmas.
While most mortgage-market observers began the year believing rates were more likely to rise than fall, the national housing market isn’t doing very well, even at the current levels.
📰 More stories you shouldn't miss 📰
- Warby Parker coming to Target
- Maybe Forever 21 isn't forever
- Joann stores closing
- America's consumers are tired of cost-cutting tips
- Do heavier vehicles help you in a crash?
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.