US long-term mortgage rates rise; 30-year loan reaches 5%

Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for the first time in more than a decade amid persistent high inflation.

Why Biden is waiving rule on higher levels of ethanol in gas this summer

President Joe Biden says his administration will suspend a federal rule that bars higher levels of ethanol in gasoline during the summer.

Deutsche Bank predicts US recession in 2023 due to Fed rate hikes

Deutsche Bank is the first major financial institution to predict a recession due to rising inflation and the Federal Reserve's hawkish plan to tame it.

Biden ‘has not ruled out’ canceling student loan debts, White House says

Press Secretary Jen Psaki made the comment the same day the Biden administration announced plans to freeze federal student loan payments through Aug. 31

Corn could be the answer to high gas prices

Under the Home Front Energy Independence Act, ethanol fuel would be produced and sold year-round in the U.S. instead of only during the summer months. The proposal aims to further decrease dependence on Russian petroleum exports over its war on Ukraine.

Nearly 70% of medical debt in collections will be removed from credit reports, bureaus say

The major credit bureaus have updated their rules for sending medical bills to collections, which is expected to remove nearly 70% of medical collections debt from credit reports.

DC pizza shop partners with NFT startup

A new startup is using NFTs to unite Black-owned businesses nationwide. 

Tax law changes could affect PayPal, Venmo, and Cash App users

Millions of small business owners who rely on payment apps like Venmo, PayPal, and Cash App could be subject to a new tax law that just took effect in January. 

Oregon man cashes in forgotten lottery ticket, wins $8.9M

Wilbur Brown of Oregon purchased his winning multi-drawing lottery ticket on Christmas Eve in 2021 and forgot about it until February 2022. That’s when he found out he won the $8.9 million jackpot.

What is shrinkflation? How companies hide inflation without increasing prices

If you haven’t seen a price increase on a product or service you purchased recently, chances are that the company may still be passing along the rising costs to you without the obvious price hikes.