Mortgage rates fall for second straight week – CNN | CarTailz

Mortgage rates fell again this week after falling almost half a percentage point last week. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.58% in the week ended November 23, compared to 6.61% the week before. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, spurred … Read more

Restaurant sales are increasing. But eating out is on the decline – CNN | CarTailz

new York CNN business — Chain restaurants reported increasing sales in the third quarter. But more sales doesn’t mean more customers. In fact, industry watchers are noting that traffic to restaurants has declined in recent months. That’s because many are cutting back on dining out and eating out more often as inflation weighs on consumer … Read more

All eyes on the consumer ahead of Black Friday and the holidays – CNN | CarTailz

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. new York CNN business — It’s been a tough year for American consumers. inflation everywhere. Rapidly rising interest rates. A housing market that is starting to cool down. That raises a question with … Read more

It’s a terrible time to buy a home. Here’s what you should know if you need to do it anyway – CNN | CarTailz

There’s no glossing over it: This is a terrible time to be buying a home. Mortgage rates on a 30-year fixed rate loan are now over 7%, more than 4 percentage points higher than a year ago. According to Black Knight, a mortgage data company, this has reduced the purchasing power of a typical buyer … Read more

Chocolate is having a moment – CNN | CarTailz

new York CNN business — Between recession warnings, high inflation and fears of layoffs, the news is grim. Why not some chocolate? Chocolate makers are reporting booming sales as stressed customers reach for something sweet to distract themselves. In the third quarter, retail sales of Hershey’s (HSY) chocolates, which includes Reese’s, Kit Kat and Hershey … Read more

House prices are finally falling. But how deep will they go? -CNN | CarTailz

The US housing market is in the midst of a major upheaval. After two years of stratospheric price increases, home prices have peaked and are on the way back down. But what homebuyers and homeowners alike want to know is: how much lower will prices go? The short answer: Prices will likely continue to fall, … Read more

The Fed could crash the housing market – CNN | CarTailz

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN business — Investors are becoming concerned that the US Federal Reserve’s aggressive rate hikes could … Read more