US existing home sales fall for seventh straight month in August, and the Fed is about to inflict ‘some pain’ with a 75 basis point rate hike – here’s how to prepare your wallet and portfolio

Hello, MarketWatchers. Don’t miss these top stories. Brace yourselves: The Fed is about to inflict ‘some pain’ with a 75 basis point rate hike. How to prepare your wallet and portfolio. This marks the Federal Reserve’s third rate hike of 75 basis points this year. Read more Sales of existing homes in the US fell … Read more

How to manage your finances when inflation is high, interest rates keep rising and research shows women’s financial well-being drops to five-year low

Hello, MarketWatchers. Don’t miss these top stories. ‘No wonder consumer confidence is down’: Women’s financial well-being dips to five-year low, survey finds Only 14% of women say they are prepared for a recession compared to 30% of men, according to a survey by Ellevest, a women’s investment platform. Read more The weekend reads: How to … Read more

These 20 S&P stocks tumbled as much as 21.5% in another brutal week for the market

Another tough week for U.S. stocks ended with oil producers shares falling and Ford Motor Co. fell further due to concerns over supply shortages. S&P 500 SPX, -1.72% fell 1.7% on Friday to a one-week drop of 4.6% as investors continued to worry about the Federal Reserve raising interest rates to tame inflation. Among the … Read more

Some homebuyers face ‘payment shock’. Ways to save on a mortgage

Noel Hendrickson/Getty Images Even with signs that the housing market is cooling, homebuyers are still feeling the sting of increased prices and higher interest rates. The average interest rate on a 30-year fixed-rate mortgage is 6.7% as of Friday, up from 3.3% at the start of 2022, according to Mortgage News Daily. Along with that, … Read more

Perth’s coastal suburbs where you can still find a home for less than $400,000

Homebuyers chasing a coastal lifestyle can still find properties within 5km of the beach for $200,000 below Perth’s median house price, new data shows. Real Estate Institute of WA figures for the greater Perth area show Mandurah is the cheapest coastal suburb with an average house price of $320,000 compared to Perth’s median of $527,000. … Read more

Your city’s housing boom could go bust

The three most important things when it comes to the value of your home are still location, location and location. Americans worried that gains from the pandemic real estate boom will be wiped out by rising interest rates can take solace in the fact that nationwide declines in home prices are very rare. However, depending … Read more

Queen’s Bank Holiday Memorial Costs Economy Almost $2 Billion | The business | ABC News – ABC News (Australia)

Queen’s Bank Holiday Memorial Costs Economy Almost $2 Billion | The business | ABC NewsABC News (Australia)

Mortgage rates hit 6.29%, Freddie Mac says, and rents fell in August for the first time since November 2021

Hello, MarketWatchers. Don’t miss these top stories. Rents fell in August for the first time since November 2021, but tenants are still struggling. Here’s why. Rents fell from July to August, and annual growth appears to be slowing. Read more How much should I tip my housekeeper? My husband says we should give the bare … Read more

The domestic luxury market shows its biggest decline in a decade. “It’s like Crickets.”

When Nancy Lam upgraded in January to a home closer to her child’s school in the San Francisco Bay Area, she thought she had plenty of time to list her old house, a five-bedroom modern home in the sought-after suburb of Lafayette. After all, the pandemic had sent the luxury housing market into overdrive, with … Read more

Larry Summers predicted inflation, but now he’s looking on the bright side

““I will give you a very simple economic truth: Would you rather live in a country that capitalists are rushing to enter, or would you rather live in a country that capitalists are rushing to get out of?”“ —Larry Summers Economist Larry Summers sounded the ultimate optimistic note on Wednesday about the US economy despite … Read more