plunged in June. If you're financially able to go ahead with a home purchase, you're likely to have more choices than you did a few months ago.In many cities, the options are few. But the number of available houses nationwide has started to rise after falling to rock-bottom levels at the end of last year. There are now 1.26 million homes for sale, according to the National Association of Realtors, up 2.4% from a year ago.The Fed's rate hikes typically make auto loans more expensive.
“Many used-vehicle buyers are already acutely feeling the impacts of higher prices for energy, food and rent,” Smoke said.Used vehicle prices have begun to fall, he noted, and vehicle availability is beginning to return to normal levels. Those who don’t qualify for low-rate credit cards might be stuck paying higher interest on their balances. The rates on their cards would rise as the prime rate does.The Fed's rate increases have already sent credit card borrowing rates above 20% for the first time in at least four years, according to LendingTree, which has tracked the data since 2018.You can now earn more on bonds, CDs, and other fixed income investments. And it depends on where your savings, if you have any, are parked.
But online banks and others with high-yield savings accounts are often an exception. These accounts are known for aggressively competing for depositors. The only catch is that they typically require significant deposits.Like many highly valued technology stocks, cryptocurrencies like bitcoin have sunk in value since the Fed began raising rates. Bitcoin has plunged from a peak at about $68,000 to $21,000.
Remember that the Democrats control the White House, the House, and the Senate. This is their economy. Check your 401k and household budget to see if you can afford to vote Democrat.
Get ready for a recession thanks to the Democrats that control the White House, the House, and the Senate.