Consumers returned from the holiday season to find mortgage rates at their lowest point since September, and they are responding in dramatic fashion. Mortgage application volume jumped nearly 28% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with
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As Americans prepare to file their 2022 tax returns, the Internal Revenue Service (IRS) remains mired in a backlog of millions of returns from previous tax filing seasons. The National Taxpayer Advocate issued a warning to lawmakers in her annual report to Congress that the backlog creates “challenges for the 2023 tax filing season before
In this article DIS Follow your favorite stocksCREATE FREE ACCOUNT Nelson Peltz David A. Grogan | CNBC Disney directors unanimously rejected activist investor Nelson Peltz’s request to join the board this month, in large part due to his lack of media industry expertise. That would be a stronger argument if Disney’s current board members had
Barry Silbert, Founder and CEO, Digital Currency Group Anjali Sundaram | CNBC Crypto trade publication CoinDesk is exploring a potential sale, hiring advisors at Lazard to weigh a move that would remove it from Barry Silbert’s Digital Currency Group. “Over the last few months, we have received numerous inbound indications of interest in CoinDesk,” CEO
Peter Cade | Stone | Getty Images Luxury shoppers are getting wealthier and younger, with purchases by some of the newest consumers expected to grow three times faster than older generations over the next decade, according to a new report. Generation Y, also known as millennials, and Generation Z accounted for all of the luxury
Dollar banknotes. Simpleimages | Moment | Getty Images Investor cash holdings are near record highs, and that could be good news for stocks since there is a wall of money ready to come right back into the market. But the question is this: Will those investors return any time soon, especially with sentiment still so
Zachary Zirlin / Eyeem | Eyeem | Getty Images In a year of soaring inflation across the broad U.S. economy, some corners of the consumer market did the opposite: They deflated in price. The largest declines, on a percentage basis, were concentrated in categories like consumer electronics, beef, and cars and trucks, according to the
Builder sentiment in the single-family housing market posted an unexpected gain in January, rising for the first time in 12 straight months. Economists had predicted a slight decline. Sentiment rose 4 points to 35 on the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is still considered negative sentiment. The metric
Georgia lawmakers brought a tax reform package across the finish line in 2022 that will change the state’s progressive income tax to a 5.49 percent flat tax beginning in 2024, with triggers to provide additional rate reductions. This is an important step forward, but if the state truly wants to cement its status as a
In this article BBBY Follow your favorite stocksCREATE FREE ACCOUNT A “Store Closing” banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, Jan. 6, 2023. Johnny Milano | Bloomberg | Getty Images Bed Bath & Beyond has been in discussions with prospective buyers and lenders as it works to keep
In this article CRM C Follow your favorite stocksCREATE FREE ACCOUNT DAVOS, Switzerland – The finance and tech CEOs gathering at the World Economic Forum this week expressed measured optimism about the economy in 2023 — but at least one major risk looms for markets, they said. The resilient U.S. economy, a mild European winter and
As inflation spiked, Americans in the middle class were particularly hard hit. For them, prices increased faster than their income, according to a September report by the Congressional Budget Office. Households in the lowest and highest income groups saw their income grow faster than prices over the same time period, the report found. Even though
U.S. Treasury Secretary Janet Yellen on Jan. 10, 2023 in Washington. Kevin Dietsch | Getty Images News | Getty Images The U.S. may be about to hit its debt ceiling. Treasury Secretary Janet Yellen said last week that the U.S. would likely hit the ceiling Thursday. Absent steps taken by Congress, the event may “cause
Ed Jones | Afp | Getty Images Between rents rising and most pandemic-era eviction bans having expired, the number of tenants coming home to find notices on their doors is picking up. In just the first week of January, the Eviction Lab at Princeton University has counted more than 9,300 evictions in the nine states
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Iowa State Tax Brackets 2023 The state of Iowa collects income tax from its residents at the same rate regardless of filing status. Here’s a breakdown of those rates for tax year 2022. Iowa state taxes are due May 1, 2023. For married taxpayers filing jointly Taxable Income Tax Over
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In this article VSTO AOUT SWBI RGR Follow your favorite stocksCREATE FREE ACCOUNT A selection of AR-15-style rifles hangs on a wall at R-Guns store on Jan. 11, 2023, in Carpentersville, Illinois, a day after the state ban. Armando L. Sanchez | Tribune News Service | Getty Images The largest firearm manufacturers in the U.S.
[The stream is slated to start at 3 a.m. ET. Please refresh the page if you do not see a player above at that time.] Moderated by CNBC’s Geoff Cutmore, top business leaders discuss at Davos, Switzerland, the impact the green transition, technological advances, demographics and reorganized value chains could have on labor markets. Joining CNBC
Occupy Wall Street Over 200 millionaires are urging the elite echelons in attendance at this week’s World Economic Forum in Davos to “tackle extreme wealth” and “tax the ultra-rich” to help relieve the cost-of-living strain off ordinary households. The Patriotic Millionaires — self-described as “a group of high-net worth Americans who share a profound