Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
US Mortgage Rates Dip but Fail to Spur Demand as Listings Drop
Mortgage rates eased to 6.48% but applications fell 2.5% for a third straight week, as affordability gains remain marginal and Treasury yields climb.
Mississippi Taxpayers Face Final Deadline After Storm Extension Ends
Mississippi taxpayers have until Monday, June 8, to file and pay 2025 taxes after Winter Storm Fern relief ends. Missing the deadline will reinstate normal IRS enforcement.
Projected 3.9% Social Security COLA for 2027 May Not Materialize
Social Security's 2027 COLA is projected at 3.9%, but the final figure depends on July-September inflation; rising Medicare premiums could offset gains.
Mortgage Rates Dip but Spring Market Remains Tepid
US mortgage rates slipped to 6.48% but demand remains weak, with purchase applications at their slowest since April. High borrowing costs and tight budgets continue to weigh on the spring housing market.
Social Security Benefits at Risk of $500 Monthly Cut by 2032, New Report Finds
Social Security retirement benefits face a potential 24% cut by late 2032 if Congress fails to act, with average monthly reductions of $459-$556 across all states, per a new CRFB analysis.
US Mortgage Rates Edge Down but Buyer Demand Remains Tepid
Despite a slight dip in mortgage rates to 6.48%, homebuyer activity remains subdued, with mortgage applications falling 2.5% and list prices dropping 2.4% year-over-year.
Social Security Benefits Could Face 24% Cut by 2032 Without Congressional Action
Without Congressional intervention, Social Security benefits could be cut by 24% starting in 2032, reducing average monthly payments by $500 for millions of retirees.
National Grid Summer Aid Events Target Rising Massachusetts Power Bills
National Grid kicks off customer-assistance events in Worcester to offset summer electricity costs, pairing bill relief with grid upgrades ahead of expected high demand.
Social Security COLA Could Hit 4% in 2027, But Retirees Face Affordability Challenges
Early forecasts suggest the 2027 Social Security cost-of-living adjustment could be around 4%, the biggest since 2023, but high energy and living costs may limit its benefit.
Mortgage Rates Remain Elevated, Dampening Spring Housing Market Activity
U.S. mortgage rates remain in the mid-6% range, with the 30-year fixed at 6.53%, stifling spring home sales. Applications dropped 8.5% and new home sales fell 6.2% in April.
June Social Security Payment Schedule: 5 Key Dates for Beneficiaries
The SSA's June payment calendar includes five dates: June 1 for SSI, June 3 for early-cycle beneficiaries, and June 10, 17, 24 based on birth date.
June Social Security Payout Schedule: Key Dates for Retirees
SSI payments go out June 1, followed by Social Security checks on June 10, 17, or 24 based on birth date. The 2026 COLA boost of 2.8% is included.