Sun, 20 December 2020 | housing mortgages
November was the most affordable month to buy a home in 2020, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. The median monthly mortgage payment nationwide reached a low of $1,094 in November, down from a peak of $1,163 in February, the month before the coronavirus was declared a pandemic.
Redfin analyzed median monthly mortgage payments based on each month's median list price and average mortgage rate by month, both nationall... Read More
Thu, 17 December 2020 | financial wellness retirement
A new survey from Voya Financial finds that a majority (73%) of Americans agree that material goods matter less given their experiences with the COVID-19 pandemic. As the priorities of many individuals are shifting when it comes to both health and wealth, Voya’s survey also found a majority (75%) of Americans have become more focused on their mental health and emotional well-being, emphasizing the concept that wealth has garnered new shades beyond financial means.
The results of Voya’s new survey reveal that many individuals will likely be seeking a fresh outlook in 2021 and bey... Read More
Mon, 14 December 2020 | income spending credit
The Federal Reserve Bank of New York’s Center for Microeconomic Data released the November 2020 Survey of Consumer Expectations, which shows that despite flat income and earnings growth expectations, households’ year-ahead spending growth expectations rose sharply in November to 3.7%, the highest level recorded in more than 4 years. Labor expectations were mixed with deteriorating expectations about the unemployment rate and improving expectations about job security. After returning to their pre-COVID-19 levels in recent months, home price expectations recorded ... Read More
Tue, 08 December 2020 | insurance europe fintech insurtech
Lemonade, the insurance company powered by artificial intelligence and behavioral economics, launched in another European market today. Residents of France can now get renters insurance instantly, anytime, and from any device – as well as file claims and get paid in seconds through the Lemonade app.
Today’s launch marks the third EU country Lemonade has entered, following the Netherlands’ launch earlier this year, and Germany in June 2019.
Unlike the traditional insurance model, Lemonade keeps a flat fee for its operations, and gives unused remaining money to non... Read More
Tue, 17 November 2020 | debt mortgages
The Federal Reserve Bank of New York's Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit, which shows that total household debt increased by $87 billion (0.6%) to $14.35 trillion in the third quarter of 2020. The increase more than offset the decline seen in the second quarter of 2020 as total household debt has surpassed its 2020Q1 reading. The Report is based on data from the New York Fed's Consumer Credit Panel, a nationally representative sample of individual- a... Read More
Mon, 09 November 2020 | inflation financial situation
The Federal Reserve Bank of New York's Center for Microeconomic Data released the October 2020 Survey of Consumer Expectations, which shows a decline in income and spending growth expectations. Changes in labor market expectations were mixed showing declines in both average job loss and job finding expectations. Median inflation expectations declined at the short-term horizon, while remaining unchanged at the medium-term horizon. Uncertainty and disagreement about future inflation decreased slightly but remained at an elevated level.
The main findings from the October 2020 Survey a... Read More
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U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation