Federal Reserve

The average rate on the benchmark 30-year fixed mortgage climbed to 7.23% this week, the highest since 2001, according to the latest data from Freddie Mac.

Florida Gov. Ron DeSantis and former New Jersey Gov. Chris Christie united in their criticism of President Biden's economic policies in response to the GOP debate's opening question.

Home-purchase applications tumbled last week to the lowest level in nearly three decades as a spike in rates and limited availability weighed on demand.

Americans are relying on credit cards and many said they can’t pay off their balances, according to a Quicken survey.

S&P Global Ratings downgraded five regional U.S. banks by one notch and lowered its outlook for several other lenders, following a similar move by Moody's.

The sale of previously owned homes slumped again in July as high mortgage rates and worsening supply shortage left would-be buyers with limited options.

Mortgages in delinquency returned to a historic low in May, while foreclosures remained at an all-time low, according to the latest mortgage delinquency report from CoreLogic.

Bitcoin took a sharp leg down to the $25,000 level as investors speculated about SpaceX's holdings, but there may be another major headwind for cryptocurrencies — rising bond yields.

The national average price for a gallon of gas increased this week despite a decrease in oil prices, AAA reported. But severe weather could have a major impact on gas prices in the weeks to come.

Total interest on the national debt is poised to become the priciest part of the federal budget, outstripping spending on Medicare and Social Security.

U.S. households are rapidly depleting the excess savings that they built up during the COVID-19 pandemic thanks to a surge of government stimulus money.

Federal Reserve officials warned of "upside risks" to inflation during their July meeting that could warrant additional interest rate hikes this year.

New U.S. home construction rose 3.9% in July after declining the previous month, even as high mortgage rates continued to weigh on the housing market.

Sentiment among U.S. homebuilders unexpectedly fell in August for the first time this year as high mortgage rates weighed on consumer demand for new homes.

Buyers in search of a new car are facing record high payments due to inflation driving up sticker prices and higher interest rates causing financing costs to rise.

Retail sales rose more than expected in July as U.S. consumers continued to open their wallets and spend, even as they confronted an uptick in inflation.

A New York Federal Reserve survey released Monday shows consumers are bracing for inflation to remain above the central bank's 2% target in the long term.

The U.S. Labor Department said Friday that wholesale inflation, as measured by the producer price index, posted the first increase in 13 months in July.

Credit card debt increased to a record high in the second quarter as total household debt reached $17.06 trillion. And the Fed’s interest rate hikes to lower inflation could impact what consumers pay for credit. But there are multiple ways to pay off high-interest debt.

The Labor Department said the consumer price index showed that inflation ticked higher in July as price pressures in the economy remained abnormally high.