Monday, December 23, 2024
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Economic Uncertainty and Inflation Impact Retirement Prospects for Americans

2024-05-13  |  economy retirement 

... ress client anxiety around retirement goals is to help them understand the value of protection solutions, like annuities, which can guarantee income in retirement and guard against market volatility."...

Hispanic Consumers More Optimistic About Finances

2024-04-22  |  demographics economy finances 

... he Bureau of Labor Statistics." SOURCE Florida Atlantic University Business and Economics Polling Initiative...

Consumers Perceive Less Buying Power Despite Lower Inflation

2024-04-10  |  consumers economy 

...  B2B panel provider and included 1,000 U.S. adults, representative of the U.S. demographic landscape. It was carried out from February 23, 2024, to March 6, 2024, ensuring participant anonymity. ...

Consumer Price Index - March 2024

2024-04-10  |  consumers economy 

...  the 12 months endingMarch, the first 12-month increase in that index since the period ending February 2023. The food indexincreased 2.2 percent over the last year. (Source:   BLS.gov) ...

Households Face Financial Pressures but Remain Hopeful

2024-04-09  |  consumers economy 

... rterly index sheds light on consumer financial practices, beliefs, and expectations amid the prevailing circumstances."It's encouraging to see the resilience of both the American people and economy as we emerge from a year marked by uncertainty, continued inflation, high interest rates, and shifting geopolitical dynamics," remarked Paul LaPiana, the head of MassMutual's brand, product, and affiliated distribution. "Adhering to sound financial practices daily, like saving diligently, reducing indebtedness, and diversifying investment portfolios, lays a solid foundation for a secure financial fu...

New York Fed's Latest Survey Reveals Mixed Feelings on Economy and Personal Finances

2024-04-09  |  consumers economy 

... cating a stable outlook among consumers. However, expectations for three years ahead saw a slight increase, while those for five years ahead dipped, suggesting a changing perspective on the economy's direction. The survey also reported a rise in the expected costs of essential goods and services, including food, gas, and rent, signaling consumer apprehension about future price hikes.Labor market expectations present a mixed bag, with no change in anticipated earnings growth or unemployment rates but growing pessimism about job security and the ease of finding new employment. This sentiment ref...

Consumers Expect Higher Inflation Ahead

2024-03-12 23:15:00  |  consumers economy 

... arger share of respondents expecting to be worse off a year from now.The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 1.4 percentage point to 38.9%....

Black Consumers Remain Optimistic About Their Financial Health

2024-02-15  |  consumers economy 

... with savings accounts, where 63% of respondents report having a bank savings account. But among this group, 50% have less than $500 in savings, including 15% who said their savings accounts are empty....

Nearly One-Third Of Americans Feel Daily Financial Stress

2024-01-22  |  consumers economy 

... rtheless, 29% of Americans do not currently own a home and do not have any plans to do so in the upcoming year. Just one out of ten respondents said that owning a home is highly attainable. ...

Mortgage Rates Expected Below 6 Percent in 2024

2024-01-18  |  housing 

... and chief economist at Fannie Mae, stated, "We expect home sales and mortgage origination activity to begin a gradual recovery in 2024 in the presence of a slow-growing economy." The Fed's decision to signal further rate decreases in response to the decline in inflation makes us think that home sales and mortgage originations probably peaked in the second half of 2023 and are now starting to gradually improve. By the end of 2024, we anticipate that mortgage rates will fall below 6%, and homebuilders will keep producing new homes, which will help with affordability. Along with some increase in ...

Post-Pandemic Belt Tightening Continues

2024-01-16  |  consumers economy spending 

...  from 47.7% in prior year), and 16.0% would be spent or donated (down from 18.5% in prior year and the lowest reading since the series began in August 2015).Source:  New York Federal Reserve Bank...

Consumers Now Expecting Lower Inflation

2024-01-09  |  economy 

... rger share of respondents expecting to be better off a year from now.The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 0.2 percentage point to 36.7%....

Nearly Two Thirds of Americans are Waiting on Mortgage Rates to Drop Before Buying a Home

2023-06-06  |  housing 

... ebuying plans:Most are deferring plans to buy: 65 percent of those who do not own property say they are holding off buying a home due to the state of the economy with Asian Americans (68 percent) and Hispanics (70 percent) the most likely to make this decision. 43 percent reported they are no longer sure if or when they will buy.Majority of Americans not looking to buy in 2023: 6 percent of Americans who say they plan to buy a home soon will this summer and only 4 percent this fall. 32 percent say they plan to enter the market in 2024 or later if mortgage rates decline.Americans pause on refin...

Home Price Gains Slow to Lowest Rate on Record

2023-06-01  |  economy housing 

... ington-Arlington-Alexandria, DC-Va.-Md.-W. Va.$639,0009.3 %3.2 %-15.6 %-28.7 %3068.8 %-1 pp *Some Las Vegas listing metrics have been excluded while data is under review....

Most U.S. Consumers Living Paycheck to Paycheck

2023-01-30  |  consumers economy 

... year is proven accurate, it will limit the impact of the Fed to curb inflationary pressures," said Nayar. "Until the economy recovers, more Americans of all incomes will say they live paycheck to paycheck. Consumers must review spending and save for the unexpected now more than ever."...

Confidence in Housing Hits New All-Time Low

2022-11-07 11:30:14  |  consumers economy housing 

... e upcoming months, in line with our estimate, as ongoing affordability issues diminish demand from homebuyers and homeowners feel hesitant to sell at potentially lower prices." Source: Fannie Mae...

Many U.K. Consumers Struggling With Credit Card Debt

2022-09-22  |  consumers economy 

... s (42%), fraud protection (39%), and the opportunity to make purchases without having to wait for payment (37%) were listed as the three most important advantages of credit cards.Source: Marqeta ...

New Vehicle Prices Set Record In August

2022-09-12  |  consumers economy travel 

... n-average inventory and incentives in August. Stellantis' incentives in August averaged 4.4% of ATP, up from 4.1% in July, but were still historically low. Source: Kelley Blue Book...

Used Car Prices On The Decline

2022-09-08 10:22:34  |  economy 

...  predicted typical levels. Used Volkswagens had the greatest Price Premium among international brands, costing, on average, $9,338 (or a staggering 57%) more than market rates. Source: CoPilot...

Consumer Spending Not Wilting In Summer Heat

2022-08-09 12:10:00  |  consumers economy 

...  renters, "relief from decreased gas costs and shop promotions encouraged consumers to continue to spend throughout July even though pockets are getting tighter." Source: Bank of America Institute...

Inflation Causing Stress and Anxiety

2022-08-09 12:00:00  |  economy inflation 

... isions during uncertain times may make budgeting or investing easier when the economy improves. Now is the time to consult a financial advisor if you need help managing the uncertainty. Source: State Street ...

Can Declining Customer Satisfaction Help Curb Inflation?

2022-08-09  |  economy inflation customer experience CX UX 

... urrently experiencing the opposite issue: overstocking with more inventory than the market can support. As a result, some products will have lower prices. In a shortage economy, regardless of customer contentment, strong demand due to high levels of customer satisfaction tends to boost a company's price power. In other words, pricing pressure is a result of both overstocking and declining customer satisfaction. The paradox here is that declining consumer satisfaction might assist in containing inflation, but only in industries where there are no supply issues. Customer satisfaction has, ho...

Households Expect Sharp Decline In Inflation

2022-08-08  |  economy inflation 

... growth expectations and year-ahead spending growth expectations continued to pull back from recent series highs. Households’ income growth expectations improved. Source: New York Federal Reserve...

HNW Investor Optimism Falls

2022-08-05 12:00:10  |  investing 

...  10 investors in Asia Pacific are optimistic about the stock market and economy, the highest of all regions. Long-term investment themes include energy security and smart mobility. UBS Investor Sentiment poll UBS surveyed 2,864 investors with $1M in investable assets and 1,129 business owners with $1M in annual revenue and at least one employee from June 29 to July 19, 2022. The global sample included Argentina, Brazil, Mainland China, France, Germany, Hong Kong, Italy, Japan, Mexico, Singapore, Switzerland, UAE, UK and US. UBS surveyed 2,644 investors and 1,084 business owners from ...

Americans Preparing For Recession

2022-07-27  |  consumers economy 

... rement Businesses. "Our goal is understand these diverse needs and provide innovative, tailored solutions that make an impact on the financial lives of our customers." Source: Prudential Financial...

Inflation Concerns Slowing Middle-America Spending

2022-07-14 12:00:00  |  consumers economy 

... mic downturn.” Key Findings from Primerica’s U.S. Middle-Income Financial Security Monitor Inflation drives top concerns. The economy continues to be a major stressor for middle-income Americans, with 41% rating inflation as their top concern. Paying for food and groceries also ranks high (26%, up four percentage points since March) as does their current financial situation (25%, up eight percentage points since March). Most plan to cut back on spending. Nearly three-quarters (71%) report cutting back on restaurant/takeout meals, up from 57% in March. Nearly the same amount (6...

Home Prices Keep Increasing

2022-07-14  |  economy housing 

... art date of Q1 1975 and extending to the most recent quarter, Q2 2022. Fannie Mae publishes the FNM-HPI approximately mid-month during the first month of each new quarter. Source: Fannie Mae ...

Parents Have a Long Way to Go to Prepare Financially Self-sufficient Youth

2022-05-04 12:00:00  |  education finance 

... NFEC CEO. These survey results are concerning because, when youth are unprepared to meet the financial challenges of adulthood, it has negative effects on the economy and the financial wellness of the whole nation. Although every child is born into a unique family and financial situation, children face multiple influences that will have an impact on their finances later – including parents, peers, the environment, and commercial advertising. Since very few schools offer financial education, parental involvement is key to raising financially healthy young adults and teaching kids about mon...

Majority of Americans Worry About Another Market Crash

2022-04-27 12:00:00  |  consumers economy 

... ease and the stock market continues to be volatile, Americans say they are increasingly pessimistic about the economy and stock market performance. In fact, less than half (47%) say they think the economy will improve in the next year, according to the 2022 Q1 Quarterly Market Perceptions Study from Allianz Life Insurance Company of North America. This is down from more optimistic times – 54% in Q4 2021 and 66% in Q4 of 2020. The majority of respondents (60%) also said they were worried that a major recession is right around the corner. Digging deeper, 79% are worried that current wor...

Consumer Confidence Lower in April

2022-04-26 12:00:00  |  consumers 

... omic Indicators at The Conference Board. "The Present Situation Index declined, but remains quite high, suggesting the economy continued to expand in early Q2. Expectations, while still weak, did not deteriorate further amid high prices, especially at the gas pump, and the war in Ukraine. Vacation intentions cooled but intentions to buy big-ticket items like automobiles and many appliances rose somewhat." "Still, purchasing intentions are down overall from recent levels as interest rates have begun rising. Meanwhile, concerns about inflation retreated from an all-time high in M...

American Consumers Still Don’t Feel Confident About Their Financial Health

2022-01-10 12:00:00  |  consumers economy 

... r finances and in the economy right now, despite positive indications at a macroeconomic level? “It’s a complicated picture to describe what’s happening to the economy,” says Chief Investment Officer at Personal Capital, Craig Birk. “The labor market is strong and retail growth is ticking upwards, but we’re also dealing with recent market volatility and record high inflation. It’s unsettling for many.” Despite this relatively recent decline in confidence, American consumers surveyed report feeling optimistic about their longer-term financial futures. According to the stud...

Happy Thanksgiving!

2021-11-26  |  economy retirement travel 

... g they'd be more likely to frequent a small-to-medium size business that offers text messaging. Consumers ranked phone calls and regular mail as the least preferred methods of business communication....

Pandemic Spurred U.S. Workers to Reevaluate Life and Finances

2021-10-11 12:00:00  |  retirement 

...  provide that, giving people the confidence that they will not outlive their retirement savings.” Source: Lincoln National...

US Shoppers Start Holiday Shopping Early, But Is It Soon Enough?

2021-10-04 12:00:00  |  retail economy 

... ing of seasonal workers. Analysts will be closely watching Black Friday sales for any indications of potential slowdowns in retail sales and profits to be reported in the first quarter of 2022. ...

Inflation Tops Healthcare As Biggest Financial Fear Among Retirees

2021-09-09  |  retirement 

... ement (58%). An even larger majority (63%) say their investment outlook has not changed since the beginning of the pandemic. Among their top financial goals over the course of the next year are: Spending more on travel, hobbies and interests Reducing spending Simplifying finances Monitoring investments more frequently Investing more Eighty-six percent (86%) of respondents received federal stimulus money during the pandemic; nearly half, 47%, saved the extra income, while 35% used it to pay bills and 18% paid off debt. The pandemic has led a minority of respondents to alt...

Consumers Financial Confidence Is Up

2021-09-08  |  consumers 

...  last year. They can work with their bank or other trusted financial advisor to ensure they don't unintentionally slow their financial momentum." BMO offers the following tips to maintain meaningful financial progress: Talk about money with trusted individuals – friends, family, or a professional banker or financial advisor. Consistently set or reevaluate financial goals when either your individual financial situation or broader economic conditions change. Take advantage of programs and educational resources. A banker can suggest programs and tools that are not well known base...

Americans Reduce Their Personal Debt 20 Percent

2021-08-25 12:00:00  |  economy 

... ome ground. Specifically, 34% say it will take them longer than expected to pay off their debt because of the pandemic, while 23% expect to be able to pay it off sooner. Source: Northwestern Mutual...

Pandemic Fuels Career Shifting

2021-08-10 09:08:19  |  workplace 

... yees are the least interested in switching jobs out of all industries, as only 46% are interested in finding a new opportunity, compared to 66% total. Source: Personal Capital, an Empower Company...

Men Ready To Splurge On Vacations

2021-06-22 09:08:15  |  travel 

... on to taking on more household tasks since the start of the pandemic, a significant number of women lost jobs as the economy shut down or were forced to quit their jobs to look after children or family members. In April of 2020, the unemployment rate for women was 16.1%, 2.5 points higher than the figure for men. These trends may factor into the findings from the survey: Of those planning to spend less than $1,000 on their vacations this year, 21% were men and 33% were women. Of those planning to spend more than $7,500 on their vacations, 4% were women while 8% were men. Some women ar...

Economic Optimism Rebounds

2021-06-02 12:00:05  |  consumers economy 

...  and December. Optimism over the economy’s six-month outlook rose among 15 groups vs. nine in May, 15 in April, 18 in March, 15 in February, 14 in January and 10 in December. For the Personal Financial component, 18 groups IBD/TIPP tracks were in optimistic territory vs. 13 in May, 19 in April, 17 in March and February, 19 in January and December and 18 in November. Ten groups rose vs. nine in May and April, 15 in March, 10 in February, 12 in January and 13 in December. For the Federal Policies component, 17 of the 21 demographic groups tracked were above 50.0, vs. 13 in May, 16 in Apr...

US Businesses Face Historic Difficulty Finding Qualified Workers

2021-06-02 12:00:00  |  employment 

... t of the pandemic, as the economy reopens this trend is resurfacing—and fast," said Frank Steemers, report co-author and Senior Economist at The Conference Board. "This poses a growing challenge to companies that are looking to attract and retain this cohort of the US workforce. On the flip side, it bodes well for the workers themselves, accelerating wage growth and offering more employment opportunities." Expect workplaces to be emptier and more diffused as remote work remains the norm postpandemic. The remote work boom is here to stay: Nearly 40 percent of human capital executives said...

The Conference Board Leading Economic Index® (LEI) for the U.S. Increased in April

2021-05-20  |  economy 

... man Ozyildirim, Senior Director of Economic Research at The Conference Board. "While employment and production have not recovered to their pre-pandemic levels yet, the U.S. LEI suggests the economy's upward trend should continue and growth may even accelerate in the near term. The Conference Board now forecasts real GDP could grow around 8 to 9 percent (annualized) in the second quarter, with year-over-year economic growth reaching 6.4 percent for 2021." The Conference Board Coincident Economic Index® (CEI) for the U.S. increased by 0.3 percent in April to 104.1 (2016 = 100), following a 0...

Investor Home Purchases Rise for First Time in a Year

2021-05-19  |  real estate 

...  just shy of the 16.1% level it hit in the first quarter of 2020, when the pandemic had barely begun. "Investors are likely starting to feel more comfortable because the economy is in recovery mode," Redfin Senior Economist Sheharyar Bokhari said. "They also may be jumping back in because they see the intensifying shortage of homes for sale as an opportunity. With so few houses on the market, many families are resorting to rentals. Flush with cash, investors are able to snap up the homes that are available, and then turn around and rent them out to folks who can't find a home o...

Younger Americans Feeling More Positive About Finances

2021-05-13 12:00:00  |  economy demographics 

... encouraging to see younger adults – especially in the last few months – setting and maintaining good financial habits that will set them up for success in the future." Source: BMO Harris Bank...

Inflation Spikes in April

2021-05-12 12:10:00  |  economy 

... st 12 months. For the month, the index increased 0.8 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision. Source: BLS ...

Healthy Money Habits on the Horizon

2021-05-12 12:00:01  |  advice financial planning 

... ...

U.S. Home Sales Likely to Hit Record High of $2.5 Trillion In 2021

2021-05-11 12:00:04  |  housing real estate 

...  "Employers are providing clarity on permanent remote-work policies, the economy is recovering and mortgage rates remain low. All of these factors mean that we'll likely see even more buyers enter the market this year and in 2022."The South is expected to lead the way with $1.09 trillion of home sales forecast for 2021, followed by the West with $696.3 billion, the Midwest with $422.6 billion and the Northeast with $322.8 billion. The South has consistently held the top spot, but has inched further ahead in recent years. This is likely because it has more vacant land on which to buil...

The Conference Board Employment Trends Index™ (ETI) Increased in April

2021-05-10 14:00:00  |  employment 

... ower pace than expected in light of the latest job numbers. A slew of indicators measuring recruiting difficulties, quit rates, and wage growth suggest the US economy is experiencing an historical, though probably temporary, labor shortage. Among the shortage's many effects, it may put a damper on job growth." April's increase was driven by positive contributions from six of eight components. From the largest positive contributor to the smallest, the components were: Initial Claims for Unemployment Insurance; Percentage of Respondents Who Say They Find "Jobs Hard to Get"; Ratio...

Demand for Second Homes Is More Than Double Pre-Pandemic Levels

2021-05-10 12:00:01  |  real estate 

... ing an ideal environment for affluent Americans to buy vacation homes," said Redfin Chief Economist Daryl Fairweather. "As long as the economy continues to grow, I don't foresee demand for second homes slowing down anytime soon." The elevated demand for second homes in the pandemic era is one sign of economic inequality in the U.S., with some buyers able to afford second homes and others unable to become homeowners at all. Home prices are up 27% year over year in seasonal towns Home prices in seasonal towns, where second homes are often located, rose 27% year over year in A...

TD Ameritrade Investor Movement Index Trends Slightly Lower in April

2021-05-10 12:00:01  |  investing 

... the Nasdaq Composite increasing 6.3 percent, propelled by recording earnings among many mega-cap tech companies. Market gains accelerated as the U.S. economy expanded rapidly in the first quarter, growing at a 6.4 percent annual rate. Retail sales jumped 9.8 percent, extending economists' projections of a consumer-led recovery this year, while jobless claims dropped sharply during the period and reached the lowest point since the beginning of the pandemic. The Federal Reserve also held interest rates near zero and announced plans to continue to support the economic recovery. Source: TD Am...

New Housing Market Records Set for Prices, Competition and Speed

2021-05-07  |  housing real estate 

... surging, which has driven up prices of new homes and indirectly drives up prices of existing homes. As states lift their pandemic restrictions, we will likely see more shortages and price increases on everything from gasoline to hotel stays and food. These price increases will likely be short-lived, but could cut into homebuyers' budgets and ease competition enough for the housing market to become more balanced. A more balanced market could encourage more move-up homeowners to finally sell, because they won't be so fearful about being able to find and compete for a home to buy." Source: Red...

Latest IBD/TIPP Poll Shows Dip in Economic Optimism

2021-05-04   |  consumers 

... eight in November. Optimism over the economy’s six-month outlook rose among nine groups, vs. 15 in April, 18 in March, 15 in February, 14 in January, 10 in December and four in November. For the Personal Financial component, 13 groups IBD/TIPP tracks were in optimistic territory vs. 19 in April, 17 in March and February, 19 in January and December and 18 in November. Nine groups rose in May and April vs. 15 in March, 10 in February, 12 in January, 13 in December and three in November. For the Federal Policies component, 13 of the 21 demographic groups tracked were above 50.0, vs. 16 in...

Home Prices Climb to New Heights as Spring Brings Little Relief to Buyers

2021-04-30 12:00:00  |  housing real estate 

... onstruction of affordable homes or support first-time homebuyers in underserved communities. We have our work cut out for us when it comes to ensuring homeownership is attainable for middle-class Americans with good jobs and money saved up, not just for the wealthiest among us." To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/housing-market-update-home-prices-up-20-pct/ Source: Redfin...

Significant Jump in Concern by Wealthiest Americans Over Proposed Tax Hikes

2021-04-28 12:25:14  |  affluent economy 

...  their financial advisor by the age of 25. Additional details from the report can be found here: https://spectrem.com/Content_Product/25-million-plus-investors-2020.aspx Source: Spectrem Group...

Job Hopping Declines During Pandemic

2021-04-28 12:00:00  |  employment pandemic 

... ponsibilities, likely another reason to hold their current job. As the workforce moves beyond the one-year mark, we'll be keeping a close watch on how job switching behaviors change and evolve as the economy rebounds." Employment growth year-over-year continued a downward slide with -7.0 percent due to COVID-19, yet at a slightly slower pace than we have seen in past months. Individual industry employment trends were unchanged with leisure and hospitality remaining as the hardest hit and the finance industry the least impacted. Additionally, the leisure and hospitality and trade sectors bot...

Home Prices Jump 12 Percent Through February

2021-04-27 10:12:22  |  economy housing 

...  (+17.0%) and Seattle (+15.4%) close behind. Although prices were strongest in the West (+13.0%) and Southwest (+12.9%), every region logged double-digit gains." Source: S&P CoreLogic Case-Shiller...

US Consumer Confidence Up Sharply Again in April

2021-04-27 09:12:22  |  consumers economy 

... rease in the next six months, up from 15.4 percent in March. Those expecting their incomes to decrease fell to 10.9 percent, down from 12.6 percent. Source: April 2021 Consumer Confidence Survey® ...

In-Person Banking Fading

2021-04-21 12:00:00  |  banking 

... ...

Millennials Already Planning For Retirement

2021-04-19 12:00:10  |  millennials retirement 

... sked the number-one benefit of working with their advisor when markets are volatile, younger investors were focused on the emotional impact while their older counterparts were more focused on the financial impact. Millennials with an advisor were more likely to say that helping them stay calm and avoid emotional reactions (19%) was the number-one benefit. Meanwhile, Gen-Xers (20%) and Boomers (26%) with an advisor agreed that protecting assets against market risk was the number-one benefit. Source: Nationwide Retirement Institute® ...

Gucci Remains Top Luxury Brand Online

2021-04-14 12:02:02  |  consumers luxury 

... loungewear and home collections is key to success this year. From the renewed interest in Versace's bathrobes worn by Drake and Jennifer Lopez to the Nike-Dior sneakers, luxury brands were quick to embrace a more relaxed style to answer the global demand from working from home customers.Sustainability is non-negotiable for sustainable growth. Every luxury brand that makes up the ranking this year is currently running some form of sustainable efforts. Global luxury brands continue to experiment with ways to engage China's growing affluent consumers online. China is indeed on track to become the...

Global Consumer Confidence Hits Record High

2021-04-14  |  consumers global 

... ...

Bullish Sentiment Hits Pre-Pandemic Levels

2021-04-13 12:00:01  |  investing pandemic 

... ...

US Mortgage Delinquency Rates Fall For Fifth Consecutive Month

2021-04-13 12:00:00  |  economy housing 

... ng job growth. The consensus view among economists is that the 2021 economy will expand at the fastest rate since 1984.” State and Metro Takeaways: All U.S. states and nearly all metro areas logged increases in annual overall delinquency rates in January. Hawaii and Nevada (up 4.2 and 4.1 percentage points, respectively) logged the largest annual increase in overall delinquency rates, as these states are dependent on tourism, which has been slow to recover. Among metros, Odessa, Texas, experienced the largest annual increase with 9.7 percentage points as the area is still r...

Americans Taking Cautious Approach to Investing During COVID-19

2021-04-13  |  pandemic investing 

...  Yet, despite this anxiety, a surprising number of Americans remain optimistic about their finances for the remainder of 2021. A full two-thirds of respondents said they believe the economy will improve this year and 68% feel their personal financial situation will improve – consistent with responses from Q4 of last year. “Investors seem to be in limbo right now, wavering between nervousness about the potential for volatility and hope for a better year, resulting in a lot of inaction that can be costly in the future,” said Kelly LaVigne, vice president of Consumer Insights, Allianz L...

Home Buyers Eager Despite Hot Market

2021-04-07 12:00:00  |  housing 

... r the next 12 months. Year over year, the HPSI is up 0.9 points. "The significant increase in the HPSI in March reflects consumer optimism toward the housing market and larger economy as vaccinations continue to roll out, a third round of stimulus checks was distributed, and the spring homebuying season began – perhaps with even more intensity this year, since 2020's spring homebuying season was limited by virus-related lockdowns," said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. "Home-selling sentiment experienced positive momentum across most consumer...

FICO® Scores Increased Amid Pandemic

2021-04-05 12:00:20  |  consumers 

...  with 55 percent feeling concerned vs. 69 percent in 2020. Concerns about credit decreased by 10 percent from one year ago, with 37 percent currently worried. Also, anxiety about the economy fell from 66 percent to 58 percent. Moreover, consumers plan to increase spending in areas such as travel (by 14%) and entertainment (by 8%). Consumers continue to be financially diligent Half of consumers surveyed will use the recent stimulus payment to pay down current monthly bills, while 44 percent will put the money into savings. Nearly 2 out of 3 survey respondents say they will find new ways t...

Indicators Point To Strong Job Growth Ahead

2021-04-05 12:00:00  |  economy 

... ch has proven accurate in its own area. Aggregating individual indicators into a composite index filters out "noise" to show underlying trends more clearly. Source: BLS; The Conference Board...

Homeownership Remains Affordable For Average Workers Despite Price Spikes

2021-04-01 12:00:01  |  housing real estate 

... h remains uncertain about the housing market in 2021. A lot will depend on how well the broader U.S. economy recovers from the pandemic and whether there are still many more buyers looking to escape congested neighborhoods most prone to the virus, pushing prices even higher. But for now, our data shows that average workers are able to manage the costs associated with rising values." Among the 552 counties in the report, 327 (59 percent) had major home-ownership expenses on typical homes in the first quarter of 2021 that were affordable for average local wage earners, based on the 28-percent g...

Pelotons and Penny-Pinching

2021-03-31 14:00:00  |  pandemic spending 

... ...

Private Sector Employment Increased by 517,000 Jobs in March

2021-03-31  |  employment 

... ata and the schedule of future release dates, or to subscribe to the monthly email alerts and RSS feeds, please visit www.adpemploymentreport.com. Source: ADP, Inc. ...

Black and African American Investors Signal Brighter Outlook Ahead

2021-03-30 12:00:02  |  economy demographics 

... baseline score of 100 from when it was established in October 1996. It peaked at +152 in January 2000, at the height of the dot-com boom, and hit a low of -81 in February 2009. Source: Wells Fargo...

Most Americans Plan to Save Their Tax Refunds

2021-03-26  |  consumers economy 

...  spend it on something fun Nearly 35% of respondents do not expect a refund Source: MyBankTracker...

Personal Income Drops In February

2021-03-26  |  economy 

... 7 -0.4 -0.6 340.9 487.9 2.4 3.4      Chained (2012) dollars -98.9 -120.3 -0.8 -0.9 259.3 391.2 2.0 3.0 Source: BEA...

Saving In A Pandemic Economy

2021-03-25 09:08:19  |  pandemic saving 

... ssessing your financial plans and preparedness against changing circumstances, are key to both navigating current challenges and building financial security for a lifetime.” Source: MassMutual...

Majority Of SME CEOs Plan To Maintain A Hybrid Workforce

2021-03-24 12:00:00  |  economy employment 

... own from 76 percent in Q4 2020 68 percent of CEOs expect the economy to continue to improve; a year ago, only 18 percent felt that way 76 percent of respondents anticipate revenues will improve in the year ahead, up from 67 percent in Q4 2020 and well above last year's second quarter low of 45 percent Just 6 percent of CEOs expect falling revenues, compared to a pandemic peak of 31 percent in last year's second quarter Investment & Hiring Gains Increases in fixed investment spending were planned by 44 percent of respondents during the first quarter of 2021, up from last quarter's 40 pe...

Existing-Home Sales Drop 6.6% in February

2021-03-22 12:00:00  |  housing 

... aid. “Many Americans have been saving money and there’s a strong possibility that once the country fully reopens, those reserves will be unleashed on the economy.” The median existing-home price for all housing types in February was $313,000, up 15.8% from February 2020 ($270,400), as prices rose in every region. February’s national price jump marks 108 straight months of year-over-year gains. NAR’s 2021 Home Buyers and Sellers Generational Trends Report, released last week, highlights some of the effects of these price leaps, including buyers’ struggles with saving enough mo...

2020 Left Nearly One-Third of Seniors with Financial Troubles

2021-03-18 15:00:01  |  pandemic seniors 

... mly with age and homeownership being the only qualifying factors. Source: AAG...

The Conference Board Leading Economic Index® (LEI) for the U.S. Increased in February

2021-03-18 15:00:00  |  consumers 

... f large fiscal supports are not yet fully reflected in the LEI. With those developments, The Conference Board now expects the pace of growth to improve even further this year, with the U.S. economy expanding by 5.5 percent in 2021." "Despite widespread improvements among the leading indicators, some measures—including weekly hours in manufacturing, permits for residential housing, and consumers' outlook for business and economic conditions—showed signs of weakness. Bad weather and assorted supply-chain disruptions may have impacted these particular leading indicators in February, and th...

The Conference Board Employment Trends Index™ (ETI) Increased in February

2021-03-08  |  employment 

... ions, lower pandemic-related restrictions, households flush with savings, and large government stimulus will all contribute to robust growth in economic activity and employment in 2021. The economy is likely to add 5-6 million jobs through the end of the year, and the unemployment rate will drop well below 5 percent. When the pandemic hit, a tight labor market appeared years away, but it may reemerge as soon as 2022." February's increase was driven by positive contributions from six of the eight components. From the largest positive contributor to the smallest, the components were: Percenta...

Black Americans Continue to Trail Their White Counterparts in Building Wealth

2021-02-25  |  investing demographics 

... sed focus on saving for emergencies compared to prior years, the pandemic’s impact on the economy caused Black Americans to take action in greater numbers than white Americans. Black Americans were more likely to cut spending on both extras (50% vs. 41%) and basics (19% vs. 13%). Student loan delay or deferral was reported as being three times more common among Black Americans (16%) than whites (5%). Despite this, a sizable minority of Black Americans – and significantly more than white Americans – were forced to tap their savings to make ends meet. More than twice as many Black 40...

American Consumers Turn to Stock Market amid Pandemic Restrictions and Stimulus

2021-02-09  |  investing 

... c average of 6%. Unsurprisingly, more than half of US consumers continue to name the economy (26%), health (18%), or job security (9%) as their top concern for the months ahead. Notably, however, focus on all three areas was lower in Q4 compared to Q2, in the early months of the COVID-19 crisis. Source: The Conference Board ...

Affordability Surprises First-Time Homebuyers

2021-02-03 09:30:30  |  housing economy 

...  from friends or family. The number one lender? Their parents. For more details, see the full report at https://www.realtor.com/research/first-time-home-buyers-housing-2021. Source: Realtor.com...

2021 Housing Market Shaping Up to be Even Hotter than 2020

2021-02-03 09:30:30  |  housing economy 

...  more intense now that people need more space." To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/2021-housing-market-forecast/ Source: Redfin...

Private Sector Employment Increased by 174,000 Jobs in January

2021-02-03 01:22:28  |  economy employment 

... lth care/social assistance 48,000 - Education 6,000 Leisure/hospitality 35,000 Other services 10,000 * Sum of components may not equal total, due to rounding. Source: ADP...

CBO projects the economic expansion will continue

2021-02-01 12:29:10  |  economy 

... d voluntary measures— collectively referred to here as social distancing—to limit in-person interactions that could spread the virus. The impact was focused on particular sectors of the economy, such as travel and hospitality, and job losses were concentrated among lower-wage workers. Over the course of the coming year, vaccination is expected to greatly reduce the number of new cases of COVID-19, the disease caused by the coronavirus. As a result, the extent of social distancing is expected to decline. In its new economic forecast, which covers the period from 2021 to 2031, the Congres...

Women Report Pandemic Has Impacted Ability To Retire

2021-01-28 09:30:30  |  pandemic women retirement 

...  their retirement plan, especially as we start a new year." Less Optimistic, More Concerned—and Less Prepared to Protect Assets Given their concerns about the economy, the market and the impact of the pandemic, it follows that women investors were significantly less optimistic about their financial outlook in 2020 compared to 2019 (32% vs 56%). Likewise, men also cited a significant decline in optimism in 2020 (39% vs 53%). Women were somewhat more likely than men to cite their biggest financial concern as losses in their portfolio related to the COVID-19 pandemic (36% vs 30%). In add...

Home Seller Profits Soar In 2020

2021-01-28  |  housing 

... . "Last year marked a unique year in the history of home prices and profits in the United States. A once-in-a-century health crisis tore through much of the nation's economy but seemed to have the opposite effect on the housing market," said Todd Teta, chief product officer at ATTOM Data Solutions. "Demand remained strong as people who could afford the space and relative safety of single-family homes did just that, aided by super-low mortgage rates and a strong stock market. But they went after a narrowing supply of housing stock, so prices soared and so did seller profits. While it's uncle...

Pandemic May Be Catalyst to More Retirement Savings

2021-01-27 14:00:00  |  pandemic retirement saving 

... personal debt” topped their lists. Survey respondents said they want to spend more time planning their finances and learn more about financial strategies. The uncertainty of the economy, even as a coronavirus vaccine rolls out, has sparked more interest in expert financial advice. Survey results show 83% of respondents said they want to minimize worrying about their finances this year, mainly through increased savings. Setting goals 52% of respondents said they will seek more guidance when it comes to their financial strategies. 33% said they are more likely to work with financ...

Rewarding Card Spending with Stock Ownership Drives Greater Lifetime Value

2021-01-26 12:02:00  |  credit stock ownership 

... competitors, in many instances the consumer will stop shopping with a competitor all together." Source: Bumped...

Mortgage Rates Move Little in Latest Survey

2021-01-22 15:00:00  |  mortgage interest rates 

...  yields higher. However, we forecast rates to remain relatively low this year as the Federal Reserve keeps interest rates anchored near zero for a longer period of time, if needed until the economy rebounds.” 30-year fixed-rate mortgage averaged 2.77 percent with an average 0.7 point for the week ending January 21, 2021, down from last week when it averaged 2.79 percent. A year ago at this time, the 30-year FRM averaged 3.60 percent. 15-year fixed-rate mortgage averaged 2.21 percent with an average 0.6 point, down from last week when it averaged 2.23 percent. A year ago at this time...

Annual Home Sales See Highest Level Since 2006

2021-01-22  |  housing 

... r, with more buyers expected to enter the market." Yun predicts a continuation of the strong activity that's currently taking place in the housing market and in the overall economy. "Although mortgage rates are projected to increase, they will continue to hover near record lows at around 3%," Yun said. "Moreover, expect economic conditions to improve with additional stimulus forthcoming and vaccine distribution already underway." The median existing-home price for all housing types in December was $309,800, up 12.9% from December 2019 ($274,500), as prices increased in every region. D...

Vaccine Deployment To Accelerate Economic Growth

2021-01-15  |  economy 

... Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. "Therefore, the best policy for economic recovery is the broad distribution of an effective vaccine, which is underway. The sooner this can be successfully accomplished the sooner growth can accelerate, and our thought is that by mid-year vaccine distribution efforts will be well-established, allowing for a strong second half." "One impact of our projected growth acceleration is likely to be modestly rising interest rates, whether as a result of increased growth expectations – as consumer savings are augmented by stimulus le...

Over Half of Americans Used Retirement Savings During Pandemic

2021-01-14 10:00:00  |  retirement spending 

...  a learning moment for investors, who reported these top five takeaways: My portfolio strategy was able to weather the bad times. I need to have more cash reserves. I need to diversify more. I took on more risk than necessary. I need to rebalance my portfolio more often. The survey also asked respondents to weigh in on working from home, the impact of remote work on their spending, and plans for relocation. Respondents indicated that two-thirds (66%) of workers LOVE working from home, with only 6% expressing dislike of the home office experience. Source: Kiplinger...

Most Americans Plan Post-Vaccination Splurge

2021-01-13 15:00:00  |  pandemic spending 

... wever, that doesn't change the fact that the economy is still a mess and millions of Americans simply can't afford a splurge of any kind right now." To view the full report, visit: https://www.lendingtree.com/credit-cards/study/80-percent-americans-plan-post-vaccination-splurge/. Source: LendingTree.com...

Walgreens Expands Financial Services Offerings

2021-01-13 08:00:00  |  healthcare payments 

...  president of North America at Mastercard. “We are proud to be teaming up with Walgreens and Synchrony to further connect their customers to the digital economy and enhance the consumer health and pharmacy experience through our differentiated technology and established role in healthcare.” The new Walgreens credit cards are slated to be available in the second half of this year. Source: Walgreens...

Economic Optimism Index Is Back in Positive Territory

2021-01-12  |  consumer confidence 

... d just one in the prior three months. Optimism over the economy’s six-month outlook rose among 14 groups vs. 10 in December, four in November and all 21 in October. For the Personal Financial component, 19 groups IBD/TIPP tracked were in optimistic territory, the same as in December. That’s vs. 18 in November, 20 in October, 13 in September, 15 in August and 11 in July. Twelve groups improved and one was unchanged. In December, 13 groups rose vs. just three groups in November, 19 in October, five in September, 15 in August and 12 in July. For the Federal Policies component, seven of ...

Home Prices Up 13%, Pending Sales Rise 38%

2021-01-10 08:24:41  |  housing 

... next few weeks, which are likely to see continued political instability and rising coronavirus cases," said Redfin chief economist Daryl Fairweather. "Still, it's unlikely that either will have a meaningful or long-term impact on homebuying demand, which, already extremely strong, is now bolstered by even lower mortgage rates. Migration and progressive economic policies will shape the housing market in the months to come. The recent migration of Americans to affordable places like Atlanta, Phoenix and suburbs across the country has contributed to what will be a major change in fiscal and econ...

2020 Bankruptcy Filings Lowest in 35 years

2021-01-05  |  bankruptcy 

... isting distressed companies coupled with the onset of a zero-revenue environment. The federal backstop proved a vital lifeline for the stabilization of corporations to protect the US economy,” said Deirdre O’Connor, managing director of corporate restructuring at Epiq. “This federal intervention created record breaking capital deployment fueled by investors chasing yield as companies attempt to ride out this storm.” “New bankruptcy filings continue to slide into record territory as the global pandemic spurs regulatory intervention to keep U.S. consumers and businesses afloat,...

COVID-19 Impacts Retirement Planning

2020-12-26  |  retirement pandemic 

... od reminder that there are always factors to consider that are outside of people's control such as the economy, healthcare costs and Social Security," says Mitchell. "That only underscores how important it is to focus on the things you can control such as saving, investing and protecting your assets. A solid financial plan and a trusted advisor can help." Working Longer One in five (21%) U.S. adults expect to work past the traditional retirement age of 65. Among those who do, nearly half (45%) say it's because of necessity and 55% say it's because of choice. Taking a closer look at th...

November Was the Best Month to Buy a Home in 2020

2020-12-20  |  housing mortgages 

... ge rates are in part a consequence of the Federal Reserve's response to a struggling economy. "It's easy to forget that the price is just one part of the equation of how much house a buyer can afford," said Redfin chief economist Daryl Fairweather. "The relationship between historically low mortgage rates and surging home prices has been fascinating to watch this year. We've seen mortgage rates drive unforeseen levels of homebuyer demand, which has pushed prices up by upwards of 15% in recent weeks. The good news for those buyers who are persevering through a dearth of homes for sale and ...

SoFI Creates Weekly Income ETF (TGIF)

2020-10-02 12:00:00  |  investing income 

... fund." TGIF will be sub-advised by Income Research + Management and Exponential ETFs. Toroso Investments serves as the ETF's investment advisor. TGIF has an expense ratio of 0.59%. Source: SoFI...

Plurality of Voters See No Difference Between Candidates as Best For Personal Finances

2020-08-24 09:26:29  |  politics 

... ances, but expressing strong support for Biden as the Best Candidate for the Economy, with 70% making this choice. For more information: https://data.sca.isr.umich.edu/fetchdoc.php?docid=65838 ...


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