Interest rates on home mortgages are rising rapidly across the United States, which seems to be slowing most housing markets. (Some, like the market here in Corvallis, have been less affected. Give it time.) The average mortgage rate for a 30-year loan was about 3.0% at the start of the year; today, it’s at 6.245% …
Last month, the Federal Reserve released a new report: Economic Well-Being of U.S. Households in 2021 PDF. This annual survey gauges American financial health and attitudes. The 2021 edition was conducted last November. Here are some highlights from the report: Seventy-eight percent of adults were either doing okay or living comfortably financially, the highest share …
“My generation doesn’t know how to be thrifty,” writes Eve Conant in the current issue of Newsweek. She describes how her grandfather — who fled his native Ukraine during World War II — would store plastic bags filled with leftover bread crusts in the closet of his new home in California, a house he bought …