36 Burst results for "Bankrate"
WTOP
"bankrate" Discussed on WTOP
"Brought to you by Long Fence. Save 25 % on Long Fence decks, pavers and fences. Six months, no payment, no interest financing. Terms and conditions apply. Go to longfence .com. Money news at 10 and 40 past the hour. The way you think money about can make a big difference to your future or sabotage it. This is a bankrate .com personal finance minute. One thing that holds people back from accumulating wealth or holding on to it is inappropriately assessing risk. That can mean anything from being underinsured to not being diversified enough in your investments. Instead of assuming your future will be and sunshine roses, you'll want to hedge your bets in case it isn't. Another roadblock to building wealth, not seeking professional help when it comes to managing your money. In addition to flagging any problems early on, consulting with the right financial planner also will keep you from another very common mistake, making emotional investment decisions. A financial planner will be objective when assessing the situation. And finally, when you switch jobs, you may take home the photos off your desk and your personal coffee mug, but don't forget about your 401k. Leaving it where it is may be limiting your investment options, so consider rolling that money into an IRA where you have more choices. I'm Greg McBride. Sunday Night Stock Futures The Dow, S &P, and Aztec futures are all up slightly. up Coming on WTOP, the Washington Post on the surprisingly sharp rise in food allergies. It's 912. Experiencing unwanted houseguests of the bug variety, it's time to bug proof your home. Those pesky pests are always looking for ways to break in, so make sure to repair or replace any torn screens and seal all gaps. This includes checking areas where pipes are cut, and finally replace any old and worn out weather stripping around doors and windows to keep those creepy crawlies cut out. If all else fails, try ZEVO insect killer sprays to get rid of those pesky bugs once and for all. ZEVO sprays. People friendly, bug deadly. Did you know you can get your prescriptions for less at your local pharmacy? You can with GoodRx. It's the free app that can save you money on your medications. Just search for your prescription. Choose the pharmacy and the price that works best for you, and then show your GoodRx coupon to your pharmacist at the drop off counter. GoodRx works at over 70 ,000 pharmacies, including Walmart, Rite Aid, and Walgreens, and it works whether you have insurance or not. It's easy to save. Next time you drop off your prescription, check GoodRx. To start saving today, go to GoodRx GoodRx is
Spellcaster: The Fall of Sam Bankman-Fried
Fresh update on "bankrate" discussed on Spellcaster: The Fall of Sam Bankman-Fried
"24 hours a day at Bloomberg I .com Longtime 'M and Democratic the HANNAH Bloomberg MILLER Business Senator AND Act. Diane THIS IS Feinstein At BLOOMBERG the has age I of 90 her political career reached the national spotlight in 1978 When she became San Francisco's first ever woman mayor Congress members from both major parties are sharing their insight on Congressman Amy Barra says Speaker Kevin McCarthy needs to get people from his own party on the same page. If can't they pass their own extreme continuing resolution I think it's time for Speaker McCarthy to come to the table down sit with leader Jeffries Republican Congressman Kevin Kiley says he voted Friday to keep the government open however The continuing resolution didn't pass many conservative Republicans joined Democrats to defeat a measure that would extend government funding by 30 days and avoid a shutdown the bill would have cut spending and imposed border security provisions Las Vegas police say a suspect has been arrested in the 1996 six murder of rapper Tupac Shakur we are here today to announce the arrest of 60 year old Gawain Davis AKA Kefi Dee for the murder of Tupac Shakur Sheriff Kevin and Mick Mayhill said for 27 years Tupac's family has gone without closure but that has changed Lieutenant today Jason Johanson said Tupac was involved in a fight with Davis outside Mike a Tyson fight which eventually led Davis to allegedly get the gun that was used to kill Shakur at an intersection an IRS contractor is being charged with stealing former President Trump's returns tax CNN reports Charles Littlejohn worked with the IRS between 2018 and 2020 during this time he allegedly stole tax return information associated with the former president and leaked it to the press Littlejohn also allegedly stole over a decade's worth of tax information from thousands of the nation's wealthiest people. I'm Bryan Shook. a key economic indicator shows inflation cooling in August the personal consumption The expenditures price index increased a tenth of a percent last month. That's half the increase expected. It's the also smallest monthly rise since November 2020. Some groups are calling on Texas Governor Greg Abbott to expand the state's migrant busing program. Ira Melman with the Federation for American Immigration Reform wants asylum seekers sent to swing states. It should be incumbent on all these local communities to start to feel some of the pain and put pressure on the White House. So far Texas has focused on busing illegal immigrants to a handful of so -called sanctuary cities. Kickoff to holiday shopping creeps up every year but this year many shoppers plan to begin their holiday shopping very early. Erin Real this reports year half of shoppers plan to begin their holiday shopping by Halloween according to recent a Bankrate report. RetailMeNot found that as many as 64 % of shoppers are kicking off the season in October, up from 53 % last year.
WTOP
"bankrate" Discussed on WTOP
"I'm mark hamrick bankrate with the .com personal finance minute looking to borrow there's no shortage of options for qualified borrowers news one thing is certain though credit card rates are among the highest then for homeowners a home equity line of credit or heloc could be worth a look for one a heloc is relevant only for those who owe less on their mortgage their than home is worth using the home as collateral the term for a heloc can extend up to three decades and one may opt to borrow only as much as is needed along with having good credit a homeowner who has built additional equity in the home would generally be seen as lower risk potentially qualifying for a lower rate of interest personal loans they're unsecured and they're taken out in a lump sum good credit is needed to qualify for the most favorable terms but there are some providers who work with customers who have relatively poor credit approval times could be very quick a qualified borrower getting rapid access to their funds I'm Mark Hamrick, Monday morning stock trading in Tokyo stocks are trading lower than the K average is down almost a half percent coming up here on WTOP what you need to know about the rise in COVID cases and the new variants it's 1212 wake up and text text and eat text and catch the bus text and miss your stop text text and be late to work text and work text and pretend work to text and act surprised when
WTOP
"bankrate" Discussed on WTOP
"Stretching into Fauquier parts of and Prince William County. It is 73 degrees at 1140. WIPE Monday News at 10 and 40 past the hour brought to you by PenFed. Great rates for everyone. Here's Mark Hamrick. Out of network ATM fees hit record high. I'm Mark Hamrick with a Bankrate dot com personal finance minute. Takeaways from Bankrate's annual checking account and ATM fee study are a mixed bag for consumers. The average combined automatic teller machine or ATM fees for an out of network withdrawal, that's the fee paid to your own bank as well as a surcharge levied by the ATM owner, hit a high of $4 .73. Better news? Overdraft fees and non -sufficient funds or SEF fees have dropped dramatically compared to years past, but they are still charged by most banks. Despite a widespread pullback in overdraft fees, free checking has not become a casualty as you look around for a financial institution. Remember that free checking accounts are still widely available. You just have to shop for them, either on a standalone basis or when signing up for direct deposit. And don't forget to move your excess funds into an online savings account that can pay more than 5%. I'm Mark Hemric. Asia Pacific Markets. Thanks for watching. Tokyo stocks off about two -tenths of 1%. It's good to have you back. See you next 2 ,000. See you next time. into the mountains. Many more people have died and reaching those communities is proving extremely difficult. That is the focus of the effort here in Morocco today. Those left homeless by the quake slept under makeshift canopies in mountain towns or on the streets of Marrakesh. Prince George's County police chief now speaking out about a Labor Day video that went viral. It shows an officer appearing to get into the backseat of a police cruiser with a woman seconds after embracing her. Police Chief Malek Aziz has suspended Corporal Francesco Marlet during the internal affairs investigation. Aziz says he knows the officers actions have sparked a range of emotions in the community and put a negative spotlight on the agency and the many hard -working men and women who wear the uniform. Aziz says he expects every officer to conduct themselves in a way that won't dishonor the agency or Police say the officer was internally disciplined in 2016 on child abuse charges. After this new internal investigation the Administrative Charging Committee will recommend potential disciplinary actions to the chief. Neil Eigenstein, WTOP News. Just ahead on WTOP, this is the way we wash our clothes. Or is it? It's 1143. Get ready for the NFL season with incredible offers from FanDuel, America's number one sportsbook. Dave Frostin here and new customers can bet $5 and get $200 in bonus bets guaranteed. Plus all customers who bet $5 will get $100 off NFL Sunday ticket from YouTube and YouTube TV. Visit FanDuel .com slash presto and kick off the NFL season with an offer you won't want to miss. And don't forget I tweet all of my NFL picks during the noon hour at DAV Presto. FanDuel, official partner of the NFL. Must be 21 or older and present in Virginia. First online real money wager, only $10 first deposit required. Bonus issued is non -withdrawable bets bonus that expire seven days after receipt. Restrictions apply. See terms at FanDuel .com slash sportsbook. Gambling problem, call 1 -800 -GAMBLER. NFL Sunday ticket offer ends 9 -18 -23. No refunds, terms and embargoes apply. $100 off NFL Sunday ticket, not YouTube TV. YouTube TV base plan required to watch YouTube TV. Redemption requires a Google account and current form of payment. Commercial use excluded. Subscription renews, any cancel time. $11 .44. General Motors celebrates our community and especially our employees. The ones dedicated to their jobs and their communities. Those who are as passionate making about cars and trucks as they are about making
WTOP
"bankrate" Discussed on WTOP
"You by PenFed. Great rates why passive income has its fans I'm Mark Hamrick with a Bankrate .com personal finance minute income it's the money that we use to fund our lives whether through work a business investments or beyond and then there's passive income you've probably heard the term maybe you've had direct experience passive income is really regular earnings from sources other than employers or contractors is defined by the IRS coming as from one of two sources or both rental property or a business in which one does not actively examples participate are book royalties or stock dividends passive income is pitched by some sales people as get -rich -quick which is misleading and unfortunate those with experience with it still requires some work just at the work and or the investment is done up front and there can be additional work or effort along the way but rental the property will have to be maintained promoted and the rest I'm Mark Hamrick 641 and a Florida judge has ruled that a new redistricting plan for the state is unconstitutional the plan had been pushed by Governor Ron DeSantis state circuit court judge J. Lee Marsh says the map diminishes the ability of black voters in northern Florida to pick a representative of their choice he sent the plan the back to the legislature with instructions to draw a new map that complies with the Florida Constitution DeSantis was criticized for essentially drawing Democrat US Representative Al Lawson who is black out of office a carved up Lawson's district dividing large numbers of black voters into districts represented by white Republicans the decision was the latest to strike down new congressional maps in southern states over concerns that they dilute black voting power you know that tomorrow is Labor Day but do you know where the holiday came from in the first place Labor Day has new meaning this year with strikes in Hollywood and other labor contracts in negotiations it's been an official holiday for almost 130 years when activists fought for a day to pay tribute to workers the first Labor Day celebration held was in New York City on September 5th 1882 when around 10 ,000 workers marched in a parade a decade later President Grover Cleveland made it a legal holiday Wendy Gillette News CBS so how are you spending your Labor Day holiday how about dressing up as a hot dog and going for a run in DC the electric Kony 0 .5 K yes 0 .5 K is a short race that may be less about the running and more about the having fun part it is a quote athletic event for the unathletic Chris Powers co -owner of the bar Ivy & Kony in Northwest says the route goes between his bar and nearby bar electric Kool -Aid he also says there's going to be kiddie pools set up so if you ride your bike to the event technically you could call yourself a triathlete if you then get in the kiddie pool and he says part of the proceeds will go to charity Shayna Stulen WTOP news I don't know between the costume and the heat tomorrow could be the longest 500 meters you ever run the race starts tomorrow morning at 11 you can learn more about it at WTOP .com and coming up on WTOP we now know how singer -songwriter Jimmy Buffett died it's 643. Do people judge you by your missing or broken teeth? should You know there is one great solution from the Cascade Center for Dental Health in Sterling. Cascades One is a revolutionary full mouth implant solution pioneered by Dr. Shreyesh Ruparelia. With Cascades One you receive the highest quality full mouth dental restoration. We do it all one doctor one office one price all backed by our amazing guarantee call today to learn more call 866 25 sleep or visit CascadesOne dot Washington com politicians they're out telling older Americans their IRA spending bill is lowering drug prices even though most of the IRAs drug cost provisions haven't even been implemented while the
WTOP
"bankrate" Discussed on WTOP
"This morning, Tara Foster, principal US economy reporter at Bankrate, joins WTOP to discuss how social media can stretch your wallet. I think the way main that really Americans are using social media and the way that it impacts their perceptions of money is kind of two things. I mean, Americans are indicating that they are thinking that Americans are posting on social media with the intent of appearing successful. So it is this kind of question of keeping up with the Joneses. But then on the other hand, we're also seeing in our survey data that Americans are also making impulse regretted purchases because of the items that they're seeing on social media. And I think the reason for that is really twofold. But of course, maybe it's harder to turn away from those impulse purchases when we those see items that we want on everyday people who seem just like us. So is it simply that picture of your friends in their family room and they've got a beautiful sofa and nice furniture and nice accessories and a big screen TV and you look at all that and you say, well, you know, my apartment doesn't look like that. I'd better start buying some stuff. I to think that's do a lot with it. I mean, the way that I've always kind of thought about social media and the way that I've always kind of described it as it relates to our personal finances is it's kind of the new roadside billboard that really kind of outfits everyday people and these products, these vacations and, you know, everyday things that people might seem seem as more attainable, but they don't really stop and think about how that was financed or kind of the debt that maybe maybe those people that they saw having those experiences had to accrue just to be able to afford those expenses. is. And so I think it's really important to, if you're someone who knowing that we often feel negatively about our finances when we use social media, if you're someone who falls into that category, it's really important to think critically about what you're seeing on the platforms and at least also think cautiously about whether you actually do want to buy it. Yeah, and you know there's a dose of reality that needs to come into this as well. Just like the person posing on Instagram, they have bad days too. Their life is hardly perfect despite the perfection of that image. I mean it's the same way with somebody that may seem like they have a lot of money, but as you pointed out, they either had to work very hard and go into debt to get that. As long as you keep reminding yourself of that, I wonder if that's the best advice to deal with all this. Absolutely, and something I often point to too is really this rule that lots of financial experts call the 24 -hour rule where essentially maybe you do see an item that you want on social media and knowing the algorithm is so tailored perfectly towards your search history, your interests. It's pretty possible that you might you come want to across buy. something you want to But if you think it through, take the impulsivity out of the purchase, let it sit there, acquire. You might be less inclined to purchase it if a full day goes by, and that's something that I think a lot of Americans could find a lot of success in doing too. That is Sarah Foster, principled U .S. economy reporter with our Dimitri Soto. Top stories we're following this early Wednesday morning on WTOP, Hurricane Adalia is now packing huge, very strong winds as it surges this hour toward Port Florida's Gulf Coast. It is expected we're told to make landfall sometime later today. This Wednesday is an extremely dangerous Category 4 storm, and here at home police say this morning they found fetuses in the DC home where she was paying now. She is convicted this morning for her role in the protests of an abortion clinic in keeping keeping the entrance blocked. You are listening to 103 .5 FM on WTOP .com. Thanks Wednesday morning August 30th where the time now is 12 48 First over to Rich Hunter in the WTOP traffic center. Alright traveling 95 north on in Virginia couple of work Yellowstone's zones first one is the more extensive one as you head north toward Route 606 Thornburg exit 118 between Mallmarkers 117 120 and are down to a single lane to the left through the paving project. Once you clear it better head north into Fredericksburg and then in Stafford County as you head north Route 630 Stafford exit 140 near Marker work 141 zone blocks the right lane that's where you get by without delay. Southbound 95 approaching the car rest area just south of the interchange for Dale City work zone blocks the left lane at 3 and then as you south head of exit 136 Center for Parkway down toward US 17 found with exit 133 single file right gets you by as of late delays have eased somewhat in that work zone PDOT Fredericksburg did warn that they may stop traffic in that work zone until around 3 a .m. this morning they could hold traffic for up to 30 minutes at a time but again no evidence that they have done so as of yet but be prepared it could happen rich hunter WTO traffic
WTOP
"bankrate" Discussed on WTOP
"The hour brought to you by PenFed. Great rates for everyone. here's Mark Hamrick how much is needed for emergency savings? I'm Mark Hamrick with a bankrate .com personal finance minute the data shows where a paycheck to paycheck nation most Americans telling us time after time they wouldn't pay an emergency expense of $1 ,000 or more from savings they don't have it and now that we're in an environment where interest rates have risen there's one of the best opportunities in years to earn more return on your savings financial pros usually recommend having enough in your fund to cover up to six months worth of expenses the idea to provide a cushion in your finances to cover unexpected expenses like a home repair or a sudden loss in income our surveys have also found that inadequate emergency savings leads to increased levels of stress for some following the standard advice of three to six months of living expenses might be sufficient others however may prefer to save more or less in any case shop around for the best rate including high yield savings accounts for your emergency savings i'm mark hamrick it's three forty one more young people are getting cancer particularly young women a study published last week in the journal of the american medical association network open shows that between twenty eleven in twenty nineteen diagnosis among people ages thirty to thirty nine increased nearly twenty percent washington post disability reporter amanda maris says there are a number of theories but few certain answers about what's causing the increase there's several theories as to why this could be happening one is that environmental factors such as pollution or lifestyle changes in what we eat have changed a lot in the last fifty years even the last ten years and then another sort of theory for why this might be happening is that more women are bringing menopause and starting menstruation at different times we're getting our periods younger and this exposes us to estrogen longer and then there's yet another theory which is that when you get pregnant for the first time when you're young it's protective against breast cancer but if you get pregnant the for first time at the age of 35 or older it could actually increase your risk for breast cancer and more and more young women are delaying having kids until they get older so there's all these different things that could be contributing but not really a clear reason for Coming up, traffic deaths declined slightly in the first half of 3 -43. We'll have that report on the way 3 -43. Gillette Intimate gives guys a gentle and easy shave on there and around there and even under there. Don't treat your groin like junk. Respect it with Gillette Intimate. The best man can get. Buy now at a retailer near you Text and work. Text and pretend to work. Text and act surprised when someone calls you out for not working. Text and whatever, just don't text and drive. StopRex .org, a message from NHTSA and the Act Council. When you struggle with Crohn's disease or ulcerative colitis, you get used to not feeling 100%. I
WTOP
"bankrate" Discussed on WTOP
"Tracked by bankrate edged up in the latest week the average for the 30 -year fixed -rate mortgage up to 7 .31 % the highest since May 2001 this matters for at least a couple of reasons one is it makes buying a home more expensive we had mortgage rates in the high two percent and low three percent range as recently as late 2020 in early 2021 that's a big move up in a short amount of time and given the long term of a 30 -year mortgage that makes it a lot more expensive to purchase a home the monthly payments can average as much as 30 to 50 percent more than when mortgage rates were lower a few years ago another consequence the bulk of current homeowners got mortgages at four percent or below what do you think the chances are they're going to move out of their current home put it market on the and move to another even smaller home if they have to contend with a seven percent mortgage no not happening i'm mark hamrick coming up we'll tell you about president biden's meeting with leaders from south korea and japan four ten or four eleven hail storms can cause widespread damage to one's home after these storms dishonest contractors show up hoping to make quick a buck from your insurance claim they'll promise anything if they can get you to sign a contract collect your payment in advance and ultimately do no work at all avoid being the victim of contractor fraud it estimates from at least three tractors check references and remember if you didn't request it rejected to report fraud call us at one hundred nicb tell this is a public service message from the national insurance crime bureau things can change best in the world we
77WABC Radio
"bankrate" Discussed on 77WABC Radio
"Guidance from state and local officials. Mayor Adams heading to Israel this weekend. Charges pending against the driver in a deadly car crash in downtown Brooklyn early this morning. Researchers say it may be a good idea to get a COVID -19 booster shot in the same arm as as your last vaccine. Many Americans are quickly draining what's left of their pandemic savings. Former Friday. President Trump will reportedly sit for an online interview with former Fox host Tucker Carlson. Trump had suggested possible. The president's office says he's not going to participate in the first Republican primary debate to be held in Milwaukee on residents say it's a good idea to get a COVID that's according to a new survey from Bankrate. WBC news time is 603 sports in your forecast. Coming up next, this is originally on the tunnel. The towers foundations. Let us do good village in Land O 'Lakes, Florida is a community that will have about 100 homes for the foundations program participants. Two families have already moved in a gold star family and the family of a severely injured hero who served our nation moved into the community's first smart homes to let us do good village as a special place where together families can heal a community where the children of our nation's fallen or catastrophically injured heroes can grow up and experience life together. It's all thanks to an extraordinary donation of many acres of land and your generosity help America's greatest heroes and their families heal together make Let us do good village the first of many communities like it with every mortgage free home the foundation makes good on its promise to do good and never forget the sacrifices our heroes have made for our country and our communities donate $11 a month to tunnels to towers at t2t .org t the number 2t 77 dot org w C. News just the facts. W. W. C. News time is 604 mess and cardinals game two tonight in St. Louis Mets beat the cardinals last night 42 Mets first baseman Peter Lanzo says they were fortunate to win against Wainwright. He pitched really well today. It's just I think we just we did enough to get Q the win and we did we did really well today and I mean he went up pitched well but and thankfully we came out on top first pitch tonight at 815 Yankees at the stadium tonight hosting the Red Sox Yankees playing under 500 ball currently last place in the AL Eastern Division NFL preseason action tonight Giants and the Carolina Panthers at MetLife Stadium kick off at 7 o 'clock all 12 professional sports teams in Los Angeles joining together to donate money to help Maui recover from devastating wildfires teams are donating $450 thousand to the Red Cross Rams players will wear a special t -shirt during Saturday's game warm -ups the blue t -shirts say Malama Maui on the front the team is selling them $39 .99 Malama meaning to take care of former Northwestern football coach Pat Fitzgerald I should say will be coaching football this fall he will be a volunteer assistant coach Loyola at Academy this season for more sports content go to www .WBCSportsRadio .com and follow WBC 77 Sports on all social media platforms mark the man up next forecast
WTOP
"bankrate" Discussed on WTOP
"By Long Fence. Save 20 % on Long Fence decks, pavers and fences. Go to LongFence dot com today and schedule your free in -home estimate. Money news at 10 and 40 past the hour. Here's Mark Hamrick. Mortgage rates near a peak. I'm Mark Hamrick with the Bankrate .com Personal Finance Minute. As the Federal Reserve has been boosting benchmark interest rates since March of last year, mortgage rates remained sky high. The rate of the workhorse of housing finance in S. the U The average for the 30 -year fixed rate mortgage near 7%. That combined with low inventories of existing homes for sale and home prices are generally remaining stable after the pandemic run up. At his news conference asked I Fed Chair Jerome Powell whether supply and demand of housing is getting in better balance as he had cited some improvement months ago Paul said there's a ways to go to get back to this better balance between supply and demand but he also notes that sales of new homes have risen sharply as builders have tried to fill the supply gap. Case in point, home new sales in June up nearly 24 % from a year ago but that is in contrast to so -called existing home sales which fell in June but are down 19 % from a year ago. I'm Mark Hamrick. Coming up we'll talk about getting gender justice for girls of color. It's 112. Here's Abby Emery, the senior machine learning engineer and principal investigator at Nobliss on the discussion tackling government challenges through science and technology, sponsored by Nobliss. We're seeing huge improvements in terms of machine learning architectures that are used to accomplish incredible performance and also the amount of scale that's available such as data and computational power. These two things put together have really set the stage for AI Renaissance. Listen to the entire discussion on federalnewsnetwork .com. Search Nobliss. Tackling national challenges that continue to rise and change rapidly can be difficult. Nobliss can help. Nobliss brings together the best of science, technology and engineering to solve complex challenges like improving transportation and infrastructure systems, countering threats from weapons of mass destruction and enhancing the operability of naval surface ships. For 25 years, Nobliss has been an innovator with the federal government, investing in advanced R &D, enriching lives and making our nation safer. Nobliss, for the best of reasons. Visit nobliss .org to learn more. People love their pets but sometimes need a little extra help providing the care they deserve. That's why since 1944, AWLA, the Animal Welfare League of Arlington has worked every day to provide people and animals in need with resources, care and protection from animal adoption, lost and found, emergency food and rehoming services, to vaccine, chipping, behavioral training support, spaying and neutering and more, AWLA always is there to help. For more information about AWLA's many good works, visit awla .org. Coming up! Nats can't slice
WTOP
"bankrate" Discussed on WTOP
"Passed out those are the things that we really see and then we find that they're related to you know heat exhaustion or potentially Damon heat Schilling is with AMR which provides paramedic and ambulance services in greater Las Vegas Jim Krasil to CBS News Israeli Prime Minister Benjamin Netanyahu reportedly rushed to a hospital this weekend after complaining of chest pains a leading Israeli news site says he fainted but is now fully conscious his office says he is in good condition and he's issued a statement as well saying he feels very good after being hospitalized he said that on Friday he was out and about in the Sun without a hat and without water which he says was not a good idea it is 432 a house bill passed Friday blocks abortion coverage diversity initiatives at the Pentagon and transgender care as well lawmakers had mixed reactions to the National Defense Authorization Act which allows 886 billion dollars in military spending more CBS News from correspondent Christina Raffini. some House Republicans also tried to make changes to US military aid in Ukraine including banning those cluster munitions from being part of that age package now that's something President Biden just announced this week during the NATO summit overseas now those changes however were voted down by a large large margin bipartisan and that's at least good news for President Biden who's also celebrating a bit of a diplomatic victory this week after Turkey finally dropped his objection to Sweden joining NATO making it member of the Alliance the legislation also gave a 5 .2 % pay raise to members of the military well if you've ever purchased plane tickets concert tickets anything along those lines heard about junk fees they're those extra costs that pop up as you're ready to check out even care plans have them as well the White House says health care plans that fall into this category don't cover enough the Biden administration has made it a point to fight these fees we get more from bankrate senior industry analyst Ted Rossman the best outcome is probably going to be more transparency that's something that we're already seeing with concert tickets there was actually an event at the White House recently where the leaders of live nation and Ticketmaster and SeatGeek and other companies have pledged more all -in pricing not these surprise fees at checkout Airbnb did something similar a few months back I'm a little cynical that this will actually lead to lower prices I think that it will at the least though lead to more transparency which makes comparison shopping easier again that's bankrate senior industry analyst Ted Rossman and there's been a twist this in the case of Taylor Toronto the armed man recently arrested near former President Barack Obama's home in DC CBS News congressional correspondent Scott McFarland joined WTOP with an update. from the start this has been an criminal uncommon case here in the District of Columbia he was arrested outside the Obama home in the Kalorama neighborhood a couple weeks back he allegedly had a van nearby stocked with ammunition and stocked with two guns and a machete he'd already been charged for some January 6 crimes for being part of Capitol that Bridge the Department of Justice added firearms charges he's being held in pretrial detention as he awaits both the January 6th case and this new firearms case. CBS News congressional correspondent Scott McFarland actors now walking the picket line instead of the red carpet this is the much entertainment of industry is shut down actors and writers on strike together for the first in more than 60 years the strikes impact will be felt far beyond your favorite movies and TV shows we'll keep you up to date on that and more stay with us coming up after traffic and weather. DC has a lot to offer Gen Z professionals cost of living is not one of them I'm Jeff Glabel it's 436. 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All in an amp that's safe secure and super easy to use plus when when you you win you can get paid instantly there's no better place to bet on MLB than FanDuel America's number one sports book so today and visit FanDuel .com slash Presto to get up to $200 in bonus bets that's FanDuel .com slash Presto FanDuel official partner of Major League Baseball must be 21 or older and present in Virginia first online real money wager only $10 deposit required refund issued is non -withdrawable bonus bets that expire in 14 days restrictions apply see full terms at FanDuel .com slash sportsbook gambling problem call 1 -800 ever since we got Xfinity mobile the whole family now has the fastest mobile service my little brother has no idea how lucky he is back in my day we didn't have it nearly as good oh yeah back in my day hey you couldn't even stream outside the house please back in my day we had phones with cords and they were mounted to a wall forget phones back in my day we
WTOP
"bankrate" Discussed on WTOP
"Time and on budget the power of proven experts with the skills to refresh rejuvenate and reinvigorate your home or business get your project started today at certa pro .com the power of pro each certa pro pro painters business is independently owned and operated. wtop and silver diner bring you free lunch friday to thank you for listening to wtop at home at work or on the go three winners every friday for dine and lunch only at eighteen silver under locations enter today at wtop .com search free lunch friday you're listening to wtop at three twenty three well we could get a cosmic treat in our area later on this week. scientists are forecasting that maryland will get a glimpse of the northern lights. what happens when energetic particles from the sun interact with the air molecules that are in our atmosphere. wtop space reporter greg redfern says try to find a dark place to possibly see the aurora borealis on thursday find someplace that has a good view of the northern horizon. best time to see it will be between ten pm and two am bring your camera. the sensitivity of my iphone allowed me to pick up pictures of aurora actual that i couldn't very well see with my eye. luke lugar wtop news. it is being called revenge travel people spending big time on trips after years an epidemic. bankrate .com senior industry analyst ted rossman joined us earlier with tips on how to save despite sky high prices using rewards points and miles is a great way to offset high prices. so whether that's credit card points frequent flyer miles hotel points put those to use. i'd also really like the idea of being flexible so maybe let the deal dictate and where you go rossman also says many credit cards protect against flight delays and so be sure to know what benefits your card provides. here's your chill on money question of the day. ramen from texas asks our daughter is a grad student in her twenties early and although her stipend is small she has managed to build her savings up to fourteen thousand dollars though it's in a low interest checking account. she has no debt. last year we encouraged her to put money into a Roth IRA. we told her to put it all in the 2060 target date retirement fund. was that good advice? would an index fund be a better choice? well robin you were spot on with the advice using a Roth IRA and yes to using a target date fund especially in the beginning. have a question? go chill on money dot com sports at twenty five and fifty five powered by red river technology decisions aren't black
WTOP
"bankrate" Discussed on WTOP
"Just you like are working every day using braille, screen magnification, speech technology, and other tools and blindness skills. Your eyesight may have changed, but your goals? They don't have to. We can help. Visit us on the web at blind .org. National Federation of the Way too little. There's never been a better time to consider a career in IT. You could enjoy a recession -resistant career in a rewarding field with plenty of growth opportunities and often flexible work environments. Go to computercareer .edu and take the free career evaluation. You can start your new career in months, not years. Take classes online or on campus, and financial aid is available to qualified students, including the GI Bill. Now is the time. Mycomputercareer .edu. Where to start a career. I'm Mark Hamrick with a bankrate .com personal finance minute. Fresh data for the career driven bank rates latest study finds the area around Austin Texas to be the best place to launch a career. The study ranks the top five metro areas in the nation on a range of factors including growth per capita, hiring, remote work opportunities, and cost of living and shelter. The southern tech hub, which is also the capital of the Lone Star State, excels in areas like population change of young adults, year -over -year job growth, percentage of remote workers, and community well -being. The city at the bottom of the list Riverside, San Bernardino, Ontario in California. It scores poorly in areas like arts entertainment, recreational establishments per capita, as well as measures of growth and hiring and commute times. Others faring poorly in the study are New Orleans and Memphis. When looking for a place to work and live, your results may vary. For more, check out patreon .com. I'm Mark Hampton. Monday news at 10 and 40 after the hour. It's 10 14. Now, we tend not to think about now. We dream about tomorrow, relive
WTOP
"bankrate" Discussed on WTOP
"Continues to swirl in uncertainty. Mark Hamrick, senior economic analyst for bankrate dot com, join WTO piece, Sean and Hillary to talk about the latest jobless claims numbers The job market broadly continues to hold together pretty well, and that's indicated by the trajectory of jobless claims, which have been rising slightly, meaning more people filing for unemployment assistance, but still historically low, what we saw this latest snapshot was a modest increase of just 4000 after the previous week was revised down. And so we're still fairly low a 229,000 new claims and the number of people continuing to receive claims also down. So one other piece of better news mark is that new home sales have started ticking up, which is good news for so many people. What's the read on that? Yeah, this is the one sort of path toward home ownership these days, given the constraints on inventory with so many people basically sticking in their current homes. And not budging because of the sharp rise in mortgage interest rates. So by the way, we've seen a sharp rise here just in the last couple of weeks where the average 30 year fixed, getting back to a very high level. So that's going to be further constraint for that part of the housing market. But builders are building, essentially building as much as they can. And so we saw April new home sales up more than 4%. That's the strongest since March of last year. Let's go to the uncertainty now. We hear that the Fitch credit agency has put the nation's triple-A bond rating on what's called a rating watch negative. What does that mean and what's the practical effect on us? Well, I think the ratings agencies are trying to figure out ways to communicate the risks of this rather to put it nicely. A disorderly process that we have underway here in Washington and the rest of the world along with the rating agencies meaning foreign governments, some of whom many of whom invest in treasury debt are watching this and the equivalent of scratching their heads. And so essentially this is a warning from Fitch to say, you really need to get something done soon, but the last time this happened when S&P downgraded, it was after that had already been resolved. They just thought it was such a mess. They were watching what was happening and thinking this isn't voting well and oh, by the way, we've added about another $10 trillion worth of debt since then. Mark Hamrick, senior economic analyst for bank rate dot com. Three boats were destroyed by a fire at Columbia island Marina, early this morning. The D.C. fire and Arlington fire departments worked together to put out the flames before they could spread to any other boats, foam was used to douse the final flames, which involved fuel, burning on the surface of the water. There's no word on how the fire started, a damage amount, or if anyone was on those boats when the fire broke out, but officials do say that there were no injuries
AP News Radio
US adds a healthy 236,000 jobs despite Fed's rate hikes
"A healthy 236,000 jobs were added in March. Although the jobs number has moderated since February's gain of 326,000, Mark Hamrick with bankrate dot com says this is about as good of a jobs report as we could have expected to get given the fact that we've been dealing with the financial markets volatility high inflation and a year's worth of interest rate hikes courtesy of the Federal Reserve. Which meets in early May to make a decision on interest rates. This jobs report gives the fed some comfort that the job market isn't as hot as it was before. As for the arm word so far so good for the U.S. economy in the first quarter, but there are a number of risks on the horizon that could lead to a recession this year. I'm Shelley Adler
AP News Radio
Biden tells US to have confidence in banks after collapse
"The president tries to boost confidence in the banking system. Americans can rest assured that our banking system is safe. President Biden after the swift and stunning collapse of two banks that prompted fears of a broader issue. His reassuring comments are key, says Mark Hamrick. He's the senior economic analyst at bankrate dot com. I think it's been an important message from the administration, the treasury, the Federal Reserve, the FDIC, the collectively they're saying that depositors should not have to worry. The collapse of the two banks also creates a challenge for the fed when it meets next week. The now has to try to thread a needle between trying to accomplish its dual mandate, which is maximum employment and stable prices or to bring down inflation, but also to help to ensure the stability of the financial system. I'm surely Adler
Northwest Newsradio
"bankrate" Discussed on Northwest Newsradio
"And according to a new survey a majority of us are concerned about refunds. That includes whether or not we're getting them and if we do get them, how big an impact they'll have on our finances. Bankrate dot com senior industry analyst Ted rossman takes a closer look with northwest news radios Tom butler. Tell us about this survey. What are some of the key highlights here? We found that about 7 in ten people who were anticipating tax refunds have at least one worry about their refund. The top concern is that the money may not stretch as far this year because of inflation, which is unfortunately probably going to be the case. The second most common fear is that the refund may be smaller this year. And sadly, that may be true as well, the IRS says that so far the average refund is down 11% from last year. Mostly because pandemic tax breaks have expired. Of those expecting a refund, what are they planning to do with it? The top answer was to pay down debt, which I think is a great choice. The average tax refund is a little over $3000. So putting that towards your credit card debt would really help you out. The average credit card charges almost 20% these days. And then the number two answer was to boost your savings, which I think is a smart practical option as well. What about generational numbers on this? The younger generation is more likely to be worried about this tax season. They are, yes, Gen Z years in millennials are more likely to be worried about their refunds and it's largely because the refunds are really important to their overall financial situations. That's true for about three quarters of us overall. But it's even more true for young adults. It makes sense. They need the extra money just because everything seems to cost so much these days. Ted, thanks as always for your insight, that entire survey is available at bankrate dot com. That is bankrate senior industry analyst, Ted rossman. And that's northwest news radios. Tom. Northwest news radio listen more, no more. We are all losing more money to scams the Federal Trade Commission now says broad cost consumers $8.8 billion last year. That's a 44% from 2021, the most costly investment scams, some tips from experts to hang on to your money first, slow things down. Scammers typically try to
WTOP
"bankrate" Discussed on WTOP
"2022. That's the lowest annual pace since October of 2021. It's down slightly from December 6 and a half percent consumer price index bank is bankrate chief financial analyst Greg McBride joined our Sean and Hillary with his read on the January numbers. Do you think it sort of puts the notion that inflation was going to come down in a straight line kind of puts that to bed at one of the things we've heard from the fed the past couple of weeks is just been kind of pushing back saying that this is going to be a long process and it's going to take time and I think we saw that today. Not a whole lot of progress and the really troubling thing was that the categories that continue to increase month in month out at the fastest pace are all categories that are household necessities. So pressure on household budgets continues. Are there sectors that are starting to come down? We are seeing used car prices, I think, is one example. It's come down pretty mighty. It's been down 7 months in a row. And that's great because they had certainly gone up by leaps and bounds when inflation first started to pick up. But that does provide a whole lot of relief for household budgets unless you're actually in the market for a car. Airfares were another one that were down. That one's been choppy and anybody that's bought a plane ticket is probably saying, huh? Airfare is down. Is it sure doesn't seem that way, but it's been one that's been pretty choppy as opposed to some of those other categories that just kind of go up month and month out. You know, Greg, there's been a lot of talk for many people about the fundamentals of our economy being pretty good right now, but it's really a tale of two stories, isn't it? Because there's also a lot of suffering. There is, when you look at the effect of inflation, it's really shredded household budgets and particularly for moderate and lower income households that are really feeling it the most. And when you look at the job market, 11 million open jobs, unemployment rate at the lowest level since the 60s, that really is in contrast to the strain that a lot of households are facing from a financial perspective. And you mentioned the fed, it looks like this report isn't going to force them to change course here. It seems like they're still on track for more rate hikes. Yeah, I'd say so, Sean, it really validates the perspective that they've been putting out there, which is they're going to continue to raise rates, and even when they're done, that they're going to have to keep rates at a higher rate for a longer period of time in an effort to get inflation down. We're still a long way from that 2% goal and inflation. Bank rate chief
AP News Radio
U.S. Hiring Accelerated Last Month as Workers See Pay Gains
"The labor department reports eight hundred fifty thousand jobs were added last month Bankrate dot com's mark Hamrick says this is above the average rate of job growth this year the jobs that we are playing catch up to some degree at the White House just days before the fourth of July today's job news news brought us something else to celebrate president Biden says wages went up to he says the script is being flipped to set of workers competing with each other for jobs are scarce employers are competing with each other to attract workers the president also suggested his economic policies were intended to make it easier for workers to find higher paying jobs hiring in June was noticeably strong in restaurants bars and hotels which collectively absorb the brunt of the layoffs from the recession at Donahue Washington
Afternoon News with Tom Glasgow and Elisa Jaffe
Retail Sales Rose Strongly in January, Driven by Stimulus
"Out with the latest monthly retail sales report and earnings results and bankrate dot coms. Credit card analyst head Rossman takes a closer look with Cuomo's time Hubler. Looks like the government stimulus gave retail sales a little jump start. Yes, big jump start here in January. Sales were up 5.3% compared with December. If you look at it year over year, the increase was a stunning 10.8%. This reversed three straight months of declines, and in every single category consumer spent more in January than they did in December and January is normally slow for retailers, isn't it? That's exactly right. Yeah, it was kind of upside down this year because the fourth quarter, which is usually filled with holiday spending. Was actually down, and then we saw this big snap back in January. I think almost all of it can be attributed to stimulus. But the good news is how broad based itwas so it wasn't just the work and play from home theme. I mean, yes, that did well, Elektronik. Appliance stores, furniture, aecom mercy. All that stuff did really well, but food services and drinking place is basically a proxy for bars and restaurants. That was up 7% in January. Department stores were way up clothing retailers these air some sectors that have really been struggling, and they started to turn it around last month department stores,
News and Perspective with Tom Hutyler
Retail Sales Rose Strongly in January, Driven by Stimulus
"A little jump start. Yes, big jump start here in January, Sales were up 5.3% compared with December If you look at it year over year, the increase is a stunning 10.8%. This reversed three straight months of declines, and in every single category consumer spent more in January than they did in December and January is normally slow for retailers, isn't it? That's exactly right. Yeah, It was kind of upside down this year because the fourth quarter, which is usually filled with holiday spending was actually down. And then we saw this big snap back in January. I think almost all of it can be attributed to stimulus. But the good news is how broad based it wa so it wasn't just the work and play from home theme. I mean, yes, that did well, Elektronik. Appliance stores, furniture AECOM Merce. All that stuff did really well, but food services and drinking place is basically a proxy for bars and restaurants. That was up 7% in January. Department stores were way up clothing retailers these air some sectors that have really been struggling, and they started to turn it around last month department stores, especially, that's a great boost for them. On Dove course with the pandemic. Continuing. This is kind of it seems like going against the grain and spending despite that, right now, with consumers stimulus again is a big part of it. But I'm increasingly optimistic moving forward because we're probably going to get another round of stimulus here within the next month or so. Tax refunds will soon be arriving for the bulk of Americans. And then we have the improving virus picture vaccines getting out there more frequently. We see the cases, the hospitalizations. The deaths. Declining, so that's all good news. I think you throw warmer weather in there and just two more progress all around. I think we could be looking at a significant gain here in the months to come. That would be great news. Indeed. Thanks as always, for your analysis, That's Ted Rothman from bankrate dot com. Some financial experts are claiming the risk of overheating, the
KOMO
"bankrate" Discussed on KOMO
"Bankrate dot com for January 2021 Financial Security Index said they could comfortably cover an unexpected expense of $1000 by tapping into their savings. So her what would the rest do well, 18% said they would use a credit card and pay it off over time. 18% said They could handle such a surprise expense without borrowing, but they need to cut back on other spending 12% so they borrowed the money from family or friends. Good luck with that, and 8% said they would take out a personal loan. Often, that means a costly payday loan that could be in a never ending cycle of debt. Let's go back to the credit card option in your checkbook store. You explain why you were concerned about people using that as a way of paying things off. It's not paying with a credit card. That's a concern. It's paying with a credit card and not having the money to pay off the balance going into debt to deal with the rain. The expense like this is a really costly way to deal with the problem. You're paying double digit interest. The current average rate remains north of 16%, according to bankrate dot com, which can add hundreds of dollars to the cause of that Mechanicsville or doctor's visit that you aren't expecting, and if you fall into the trap of making minimum payments on that $1000 expense, it could take you more than eight years to pay it off Rick eight years to pay off $1000 balance if you only make the minimum payment well, so many people, especially in today's situation, with a pandemic, curb their their budgets are Maxed out their paychecks or just barely covering that. So what's the option? The key is to get started pick a modest goal and then build from there as bank rates, chief financial analyst Greg McBride told me successful saving is all about the habit and getting started having direct deposit from your paycheck. The money automatically goes into that savings account will be an easy way to get started. You are saving for you can spend the money and trust me. If you wait until the end of the month and try to save what's left, you will find that there's probably nothing left. You know, I have to ask you about the interest part of a savings. We all know that that's minuscule right now, Herb, you're not going to run it a lot with the interest. Is there a better way to do it? Yeah, I suggest instead of doing the traditional account you opened a high interest seems account with an online bank. Although these rates have dropped significantly during the pandemic, online financial institutions still offer the highest interest rates on saving accounts. That's where I parked my rainy day fund. The best online savings accounts basically pay about a half a percent A P Y according to Nerdwallet, But that's far better than the national average. 0.5% that's all. It's nothing and by the way, there's no minimum balance required open most online saving accounts. And as long as they're f d i C insured as most well known online banks are your money is perfectly safe. Good advice. Timely advised, Herb. If we want to learn more. Where do we go? Just go to my website That.
KOMO
"bankrate" Discussed on KOMO
"Bankrate dot com for its January 2021 Financial Security index, said they could comfortably cover an unexpected expense of $1000 by tapping into their savings. So her what would the rest do well, 18% said they would use a credit card and pay it off over time. 18% said he could handle such a surprise expense without borrowing, but they need to cut back on others. Ending 12%. So they borrowed the money from family or friends. Good luck with that, And 8% said they would take out a personal loan. Often, that means a costly payday loan that could be in a never ending cycle of debt. Let's go back to the credit card option in your checkbook story. You explain why you were concerned about people using that as a way of paying things off. Yeah, it's not paying with a credit card. That's a concern. It's paying with a credit card and not having the money to pay off the balance going into debt to deal with the rainy day expense, like this is a really costly way to deal with the problem. You're paying double digit interest. The current Average rate remains north of 16%, according to bankrate dot com, which can add hundreds of dollars to the cause of that Mechanicsville or doctor's visit that you aren't expecting, and if you fall into the trap of making minimum payments on that $1000 expense, it could take you more than eight years to pay it off Rick eight years to pay off $1000 balance if you only make the minimum payment so many people, especially in today's situation, with a pandemic, curb their their budgets are maxed out their paychecks or just barely covering that. So what's the option? The key is to get started. Modest goal and then build from there as bank reached, chief financial analyst Greg McBride told me successful saving is all about the habit and getting started having direct deposit from your paycheck. The money automatically goes into that savings account will be an easy way to get started. You are saving before you can spend the money and trust me. If you wait until the end of the month and try to save what's left, you will find that there's probably nothing left. You know, I have to ask you about the interest part of the savings account. We all know that that's minuscule right now, Herb, you're not going to run it a lot with the interest. Is there a better way? Do it. Yeah, I suggest. Instead of doing the traditional account you opened a high interest seems account with an online bank. Although these rates have dropped significantly during the pandemic, online financial institutions still offer the highest interest rates on saving accounts. That's where I parked my rainy day fund. The best online savings accounts basically pay about a half a percent A P Y according to Nerdwallet, But that's far better than the national average 0.5%. That's almost nothing and by the way, there's no minimum balance required open most online savings accounts and as long as there F D I C insured as most well known online banks are your money is perfectly.
South Florida's First News with Jimmy Cefalo
What to know before the stock market opens Wednesday
"One big question, I think that a lot of people's minds with the news overnight out of Georgia and it looking Maura and Maura, like Democrats will control the Senate along with the House. And then, of course, the White House after President elect Joe Biden is sworn in on the 20th. What does that mean for the markets and for the economy? Well, we've seen some volatility in recent days, just based on uncertainty on duh. I think you know there's likely to be, you know, a few different reactions and play. But, you know, I think for someone investor's standpoint, you gotta continue to focus on the long term and long term. Statistics have shown that whether it's a divided Congress or not a divided Congress. Long run markets go up either way s O, you know, buckle the seatbelt and just kind of ignore short term volatility or whatever political posturing, you know, you know, but maybe maybe happening. That's you know, likely to Buffett markets up and down and short term, but you need to maintain a focus on the long term goals. The other thing is that just from an interest rate standpoint, um you're much of it is really hinged on the said on DNO, not on Congress so, but the Fed pledging to keep interest rates low, with the Fed continuing to buy $120 billion a month and long term bonds. We've got an environment of ultra low rates for throughout 2021. How important was it for Congress to pass that latest round of stimulus that relief package? How important was it for the economy? Huge on do you know? Unfortunately, it probably isn't even enough to kind of get us to where we need to be right now that I think the timetable of mass vaccinations by the middle of the year That's the gap. We need to bridge from an economic perspective businesses and if small businesses in particular, and a lot of households that were really hurting financially that you know for months had been kind of running down. Their their savings, exhausting unemployment benefits. It's you know, it's a welcome relief to have that extended But those unemployment benefits that have been extended till March. You know that's not gonna that's not going to get us to where we need to be So in the short term, it was a huge help T the households and small businesses that were on the brink. But, you know, I think we're kidding ourselves. If we think that that's gonna be sufficient to get us to the other side of this I'm joined by Greg McBride, senior vice president and chief financial analyst for bankrate dot com. With the Democrats likely holding power at all levers in Washington, D C moving forward, there's a likelihood that there will be Maura relief coming. Do you think that will be welcomed by the markets? Yes. Now I think you know the counter play to that is that you know, you're also likely to see some concern about growing deficits might fuel inflation down the road. So and and that can have the opposite effect on the stock market. So you know it's one of those where you no way see this where you know the market could be up Big one day and then it's like you know, the referee comes out from under the hood and says after further review. The call has been reversed. And then the next day the market goes down. Right. So you know, markets that embrace one thing One day, you know, could look at it is, you know glass being half empty the next day, or vice versa. That's kind of speaks to that volatility in the short term that I was talking about, But you know, long term, particularly with mass vaccinations. We get the faster pace of economic growth in the second half of the year. You know, I think that's when when things really, you know, we start to kind of grab a higher gear economically, You know, I think you know that That's that's really you know what's ultimately gonna gonna do? That's really the most important thing moving forward. I mean, obviously, the political situation in D C is gonna have an impact. But it really comes down to the vaccination distribution and how quickly we can ramp that up. Yeah, that's the hub of the wheel economically, you know, and it's you know, I mean, listen, if you you know if you did a rip in Winkle and fell asleep for a few months and then woke up, you know again, it's going to be still the vaccinations and the progress there. That's really going to be, you know, dictating not only the health of the economy, but you know, ultimately what we see as a result. With the financial health of households, businesses corporate earnings in the markets themselves.
WTOP 24 Hour News
Jobless claims rise more than expected after break from holiday
"Pandemic continues to damage the economy. The latest sign the number of Americans seeking unemployment benefits jumped last week to 853,000. Hundreds of thousands more have applied. For benefits through a program to help gig workers who have lost their jobs. Joining us now on Skype. Mark Hamrick, senior economic analyst for bankrate dot com Market to have you back Thank you so much. Good to be with you. Gentlemen. These jobless numbers are getting worse. What's going on here? Well, as we said from the outset, Sean and we've been talking about this for a 38 weeks. Now, the impact on the economy is directly related to the way the pandemic is presenting itself. What we know we've been talking about record numbers, so these numbers are essentially a week behind. So as we see the numbers worsen on the health front, there's a toll to be taken in the economy and also, by the way all across here. The D M V. D C. Maryland, Virginia also increases the increase in Virginia. The biggest. We saw 8600 new claims they're up to about 14,000 herself. Mark. Your
News and Perspective with Taylor Van Cise
Federal officials stockpiled munitions, sought ‘heat ray’ device before clearing Lafayette Square, whistleblower says
"So We're learning more these about air, small what federal businesses authorities of were these thinking air bars and restaurants and planning and retailers just before Lafayette also Square the airlines. in the nation's capital Anyone was who's cleared really of reliant protesters on back travel in June, these all days for President is Trump that to some walk across risk the there street some and beneficiaries hold a Bible of in that front as of the well. church. For those, Arrest of laying for example is following of Mike the story do for the business Washington Post with and people spoke who with are Como's making below. road Neil trips. Marissa, It seems Where as though federal officers you know there's a were perception preparing for and probably quite reality a confrontation that we're There safer they seem if we stay to have within been. the They confines were trying of our own to automobile. paint a number On of the different other hand, weapons. Tom of there And are we just interest found out that rate they were sensitive also stockpiling sectors on the housing live ammunition. sector is really Thousands at the top of rounds of the list of live that ammunition are benefiting from the environment in the D. C armory. that is a feature Now, perhaps of low more eye interest opening rates and record we're hearing low mortgage about, rates. We you know, deafening highlighted devices that in our story and even about a great heat dot Ray. com with That the is record right. low mortgage Yes, rates once but again, there's and two that's different course devices set off a that refinancing Department boom, of Defense officials even were with asking millions about. of Americans who could still Right before better these off that from protests refinancing onto you. and shop, First. several One of them is $2 L off rad, their monthly which a payments long range here, acoustic all right, device And let's talk that a is little actually bit about pretty common what has to not have happened a protest. in Washington It can regarding in the the very economic definite relief measure. your Not piercing only is noises. that an To disperse issue as crowds, millions of Americans but more often are it's still without used to make those benefits, loud but also announcement. we've got the shutdown So, looming. for example, Yeah, I'm reminded at a protest of for things they're allowed. my elementary People chanting school criticism L Rod from teachers could be used said to make I announcements was not for living up many to my blocks potential. that people It could feels hear like elected that officials what was in less Washington surprising Commies are following in that the heat model. ray that You know, would we have be called the active Economic denial relief system. legislation that really does need to be That passed is a to continue weapon the that was developed heightened A number of on years a point ago of benefits that that relies payroll protection on technology program very similar plenty to of microwave. need out there. There Send has out these been, I invisible would say some improving beings. rhetoric And if you're on caught all sides in it here lately, heats up the president's the water signaling molecules that he'd in be willing their skin. to sign something well And about make what it the Senate feel had like failed to your advance. skin is burning. We'll Is see whether there any they sense make progress as to why such and oh, a by drastic the way steps were being looked funding at? the You know, federal it's government hard is slated to say to run out and this but mark, way I think they in the will early end up days passing of the a protests continuing resolution out here in D. to C address and that. Alright, there has Mark. Thanks been as some always, unrest for your in insights the nights before that there is was Mark a fire. Hamrick, senior There was economic looting, vandalism, analyst etcetera. for bankrate dot A com. number And of that's cities Como's on Tom at Hudler. the early Come days on news of these time. cursed 1 50 back in Time late for your May or Propel early Insurance June. Money update. And Technology federal shares officials led have stocks said to a that broadly they lower were preparing finished for today escalation that out Jones industrials in part dropped 130 because of that, points But the S on and P the 500 day that this these will 2 happen 28. 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It the V doesn't F appear W that they were able It's a to credo obtain either that one. stands Have along we heard after anything our in fighting terms of a days response are over to these requests because our To service this point, never the stops. has Natural We're resources still serving, Committee of Congress which is why is we pledged you are to help doing our it own ongoing investigation. no matter where they That's are in part or when why they need some of us, these allegations came standing to the surface. in lockstep The person with who those brought who forward stood is so a whistle courageously blower in the case, for everyone even major else. in the DC National It's what Guard. makes us the V Says F he was W pretty appalled by Learn what more he saw on at the ground, V f w so lawmakers dot org's are looking into it. I know that Hi. 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Motley Fool Answers
Whats Up With Mortgages and Real Estate
"Well, it's been a crazy year pandemic thousands of businesses closed millions of Americans, unemployed. The stock market is still up for the year at least so far your portfolio may not be your only acid or even your biggest asset fact according to Edward Wolff nyu economist. For the bottom eighty percent of Americans in terms of assets. Their number one asset is their home about sixty percent of their net worth is in their house. So, how has residential real estate fair during the virus crisis and how might that change in the future here to help us answer those questions is Jeff Strauss, key senior writer and analyst at Bankrate Jeff welcomed the Motley fool answers. Hey, bro thanks for having me. So let's start with the current state of the house in the housing market. Let's get to the numbers. How have prices been holding out during the recession was surprisingly really well, prices are still going up and I. Think I like a lot of people that fill victim to the whole recency bias flaw. That the last time we had a recession home prices just absolutely collapsed. We had fifty percent drops and values in many parts of the country and so back in March when we started going into recession again I think I know a lot weather's thought. Oh, here we go. Again in terms of home prices and that really hasn't happened home prices have held up home sales are down but if you were people have put their houses on the market and so the supply and demand curve has just shifted. So we've got basically more buyers than there are houses for sale. So we're seeing a lot of bidding wars I keep hearing these tales of a nondescript. House getting thirty and forty, and even fifty bids over a weekend. So home prices have held up surprisingly well, they're still going up part of that is because we've got record low mortgage rates and people have more buying power and then part of it also is just that the pandemic has really changed. Qui Bowls thinking about housing I mean if you're going to work earned, your kids are going to school in your house very much. You can make do with less space but now the that were crammed into to one space and people are working from home and taking classes from home it's You suddenly start to think, Hey, I could use a bigger house. You got a couple of interesting points that I. Let's start with mortgage rates. Crazy low. Thirty year mortgage thirty year fixed is around three percent little bit above little bit below dependent where you look. Fifteen year bit below that. One interesting thing I've noticed though is normally the adjustable rate mortgages are the lowest. But from what I've seen there at the same as a thirty year fixed or even a little higher what's going on with fat? Yeah. That is a weird situation and it's funny that you mentioned arms because it seems like nobody really pays much attention to arms anymore with with fixed rate mortgages being so low for. So long at as you said, they're in the the three percent range or even below for thirty year fixed but they've they haven't been much above that the past decade I am I think they briefly spiked up to around five percent but. When fixed rate mortgages are so low it's in they've stayed consistently low. People just sort of You know lose interest in arms. So it's that's part of it. Part of it is a just that there. There aren't as many lenders offering arms, and so there's there's less. Less apply less widely available so that that probably has something to do some of it also is that the without geeking out here too much but the rates were were based on Libor the London interbank offered rate for a long time in libraries going away at a new indexes coming in so that that might have something to do with it. and then in in times of economic uncertainty, we we do see this this pattern where arms suddenly get more expensive than fixed rate mortgages but you know it's intriguing. I talked to a lot of consumers a lot of. Lending officers lot at mortgage brokers. Nobody's talking about arms they're all talking about. The thirty year fixed and they're they're talking about how many points should you pay? Should you do a thirty or fifteen ten? What's? What are the advantages of different types of of fixed rate mortgages and? That just seems like an arms have been sort of forgotten. They were hot thing fifteen years ago but I almost never hear anyone recommending God's
WTOP 24 Hour News
Number of Americans applying for jobless aid ticks up
"Head into the Labor Day holiday with a still reeling job market. Latest raw numbers show 881,000 Americans filed for jobless benefits for the first time last week Now that is a significant decline from last week, the previous week. I should say, however, much of that decline is because of a change in how those numbers are reported, and this new claims survey comes on the heels of tomorrow's unemployment report for August, joining us on Skype to talk about it all more camera ex senior economic correspondent for bankrate dot com. Hello, Mark. Hello, Hilary and Shawn. It's so there's some improvement in the jobs report. But there is a caveat. What do you make of it? There are a lot of real cross currents here, which I think is very, You know, 2020 thing of theme that we're seeing these days. First of all, the main headline number 881,000 new claims That was welcome to the extent that was below a million what she'd really been essentially the pattern we've seen since the beginning of the year. A million or Mohr and 6.8 million In late March, but that's just one part of the picture here. There's still the care is act part of this equation, which doesn't tend to get reported with that other headline number that photo. This is the program that is meant to help gig workers. Some entrepreneurs that weren't typically eligible for this. State administered program was another 759,000 people up by 152,000. So it's very consistent with what we're seeing across the rest of the economy, which is inconsistency. There are some parts of the economy doing well, others that they're not. And I think we're pretty familiar at this point with those that are not doing well on DH some that are well tell us about who is doing well as we're six months into this pandemic. Well, I mean, low interest rates are the principal reason why some people are doing better than others. But so is the stock market, which until today have been doing well. And so the Federal Reserve pushing on that lever, taking interest rates to record low levels, mortgage rates at record lows, housing market doing pretty well refinancing doing well and his demand has come back. Let's just say selectively. The manufacturing sector is doing better as well. Don't forget Home building is doing well commercial, real estate and building not Then, on the other end of the equation, of course, leisure and hospitality bars and restaurants, Transportation airlines retailing. Those are some of the pain points. So mark you mentioned today's big selloff and you've often told us that the stock market is not to the economy. What do you make of those numbers? Despite that? Well, we're back to the lowest level since late August. Hillary. So you know people love volatility when it's pushing stock prices higher. Don't like it when it goes the other way, And I think you know, many had been looking for some retracement here, especially after the big move up back into record territory for these Average is the S and P on the NASDAQ. By the way, the lead up had really been dominated by six major technology stocks, some of which were seen as bridges of success toward the post pandemic era. Let's say there's not a lot of love for energy and financial stocks. So when we get to a place of true healing with the economy will probably see more rotation and they'll be more volatility in the months ahead because we have all kinds of reasons to look for that, not the least of which is the election. All right, Mark, talk to you again soon. Thanks.
AP News Radio
1.2 million seek jobless aid after $600 federal check ends
"The monthly jobs report for July is due out later today many economists are expecting a disappointing monthly jobs report including Bankrate dot com's senior economist mark Hamrick while we did see some are reasonably robust hiring in the month of June with nearly five million jobs added according to labor department most economists do not expect anything like that here for the month of July in fact it probably fewer than two million and what about the unemployment rate in June I was eleven point one percent still historically high economists think the bank could slip to ten and a half percent in July even with July's expected gain barely forty percent of the jobs lost to the corona virus have been recovered surely a blur Washington
Dennis Prager
1.18 million Americans filed for unemployment last week
"Laid off Americans of lying for state unemployment benefits last week, bankrate dot coms more, Cameron says It's the 20th straight week of over one million unemployment claims coming into the situation we were seeing. You're than 300,000 new weekly jobless claims and we were celebrating that low number and now you know, we don't see anything like that occurring anytime in the near future, but it was the lowest total since mid March. On a Wall
AP News Radio
2nd US virus surge hits plateau, but few experts celebrate
"President trump is arguing against another blanket shut down of the economy amid a coronavirus search the president says small shutdowns can be very helpful but not a big one like the nation experienced in March and April a permanent shutdown would no longer be the answer at all the president speak his reelection hopes on reviving the economy promising a big rebound but it shrank at a historic annual rate of nearly thirty three percent in the second quarter Bankrate dot com's Greg McBride says that's a deep hole it's going to take years not months to recover that Sager make ani Washington
News and Perspective with Tom Hutyler
U.S. economy suffers biggest quarterly decline on record
"33% annual rate in the April June quarter by far the worst quarterly plunge ever. When the viral outbreak shut down businesses with Mohr on this historic drop. I'm joined by bankrate dot com Chief financial analyst Greg McBride Greg Good morning. Thanks for being with us the Commerce Department's estimate of the second quarter decline in the gross domestic product. The total output of goods and services marked the sharpest drop on records dating to 1947. And I think that's as far back as these quarterly records go. Yeah, and Tom it wasn't even close set a record setting records for all the wrong reasons, but it was about Three times worse than what had been the previous record holder, if you want to call it that, and and so, you know, listen, not that we needed to wait until today to know that it was bad, but I think it does certainly put it in and you know in Stark, uh, you know terms for everybody. I will say, however, that number is annualized, so it's not like the economy's only 2/3 the size now that it was the end of the first quarter. Now the economy shrunk 9.5% still the worst ever by a wide margin during the quarter if it had maintained that pace for a year. That would equate to a 33% contraction. So they're like the ballplayer hits three home runs on opening day, projecting that they maintain that pace throughout the season. Right? Okay, well,
AP News Radio
Second Quarter GDP due out later today
"Second quarter GDP numbers are due out later today it's going to be an epically bad number Bankrate dot com chief financial analyst Greg McBride on again wide basis the economy is expected to have shrunk anywhere from twenty five to as much as forty percent on an annualized basis of course on a quarterly basis it's a much smaller than that but it's still going to be bad it will be the worst quarter that any of us have ever seen Shelley Adler Washington
Motley Fool Answers
How the Pandemic is Imperiling Retirement
"That much. How much have average? Americans saved while TRANSAMERICA survey released in May provided estimated median retirement savings according to generation so for millennials, the median savings is twenty three thousand Gen X.. The median savings is sixty four thousand for the boomers. Median savings is one hundred and forty four thousand. and. That doesn't sound like very much, but here's the kicker. Those figures are as of the end of two thousand nineteen before the virus crisis turned the world upside down, so thanks to the pandemic panic. Many investors actually have less now. But possible lower portfolio value is just one way that retirement planning is more challenging. After one of the most sudden economic disruptions in history. In fact, there are five ways that America's overall retirement security has become even more imperilled over the past few months. Let's take a look at each one showy. Let's start with number one let's. CHECK REPLACE TO START? So number one. We all know this one. We actually know all these, but here we go number. One unemployment has skyrocketed over the past fifteen weeks. Almost fifty million Americans have filed for unemployment insurance. It's almost. Incomprehensible fortunately, many have gone back to work so last Thursday, the Labor Department announced that the unemployment rate dropped to eleven point two percent in June down from thirteen point three percent percent in May. So that's good news. However that eleven point two percent is still the highest rate since one thousand, nine, hundred forty. Now. When you lose your job, you obviously tend to stop saving for retirement. You have more important things. Take Care of plus you no longer have access to a 401k and people who have access to retirement plan at work are much more likely to say. But, even those who have jobs still are not saving as much because many workers have seen their pay cut and have reduced their savings as a consequence in many employers have reduced or eliminated their 401k matches, and finally a survey from bankrate found that fourteen percent of Americans have taken money from their retirement accounts during the crisis and another thirteen percent planned to do so many because the need the money due to losing their jobs. So. Many people are going to have much less saved for retirement. Just looking at the IRA's and 401k's let we just talk on the show about how people? Are actually saving more. So. It seems like this is another opportunity to just even more create even more of a divide between those who have a lot of money, and those who are just scraping by. There's no question so what you're talking about is the personal savings rate, which is a little different than what you save in your retirement accounts. Basically it was. It was a combination of. Looking at what people had their bank accounts for the people who lost their jobs for many people. In fact, most of those people unemployment benefits were actually higher. Than when they were working. And they weren't spending as much money, so you really look at what happened to people's bank accounts, but even those situations right? Let's say you're out of a job and your unemployment. Benefits are higher than when you were working. You're still not likely then. Put that money in an IRA when you can't put an 401K's. You're no longer working so despite the fact that some of these people. People actually up to now doing okay, they're probably not putting it towards the retirement savings, and they're possibly looking towards the end of July when the extra six hundred dollars from the federal government is going to stop their talk now about extending that probably not six hundred, maybe like three hundred or something like that. I certainly hope that will happen because if you ask me, I think. The gains we saw in jobs in last month I. Think some of those are going to go away. As some of the economy, especially, the south and the West start to realize that maybe they opened up a little too soon, and they're gonNA start shutting down. The? First one second reason why retirement planning is going to get more challenging is that many stocks are still down. So. Now. We're going to look at what's in all these accounts that we just talked about. Depending on the type of stocks you own this and this year. Surprisingly they could be very good for you. Especially, many of the Motley fool members to our services invested a lot of companies that have done very well, but for many other people. Your portfolio still could be in the red, so let's take a look at where some of the indexes are as of the close of the market on July Second Nasdaq star of the year up fourteen percent so far this year amazing. Every other index down even slightly so sap five hundred down three percent for the year the Dow and international stocks down about ten percent for the year small caps down fourteen percent value stocks getting. Still significantly down almost twenty percent partially, because when you look at a typical value index fund, they're more weighted towards energy and financial services which have been the two worst performing sectors this year. We all knew about energy, but even if you look at the banking stocks, banking stocks have taken a hit the federal reserved it. It's stress test. Last month told banks that can no longer buy these. The biggest banks of thirty biggest banks told him you can't buy back your shares, so you can't do any share buybacks now, and you can only pay your dividend according to a formula based on earnings. If you don't have enough earnings, you can't pay your dividends so. Bank stocks have been put on notice that things could get dicey there so again. Depending on how you've invested,
WTOP 24 Hour News
4.8 Million Jobs Added in June, but Clouds Grow Over Economy
"Are much better than expected Report out today shows US economy, adding 4.8 million jobs in June Labor Department now reporting that unemployment also fell to 11% last month, but bankrate dot com economist Mark Hemorrhage says that number may actually be slightly higher. He joined debris. Debbie Feinstein live on Skype to explain 1/3 of the jobs that were lost among the 20 Two million of since been restored, which obviously means 2/3 yet to be. So we sell the high rate of unemployment in our country, and I had an asterisk to the 11.1% unemployment rate you mentioned. Their Labor department cautions us that because of problems with measurement that are ultimately fairly complicated, the actual unemployment rate is about another percentage point above that. So let's talk about 12%. That's 2% above the highest level we saw during the great recession over a decade ago and within certain sectors, for example, in leisure and hospitality, which is the category including bars and restaurants, the unemployment rate they're 29%. That's above the level of the great Depression, So we still have a lot of heartache to work through here. Also, we've gotta recognize that new shutdowns air now underway again because of the pandemic. This data and today's report is from the 1st 2 weeks in June before this latest round of shutdowns. What does this mean? Looking ahead to the next report? That means there's more risk associated with a weakness, or at least a stall in the data will get for the month of July. As you indicate this dad has always collected around the 12th of the month, so it is somewhat stale. At this point. That's why, in some cases It's been more optimal to look at new claims for unemployment benefits of there. We're down for a 13 straight week, but elevated above a 1,000,000 for 15 straight weeks. Do businesses feel okay about rehiring again now? Or is there still too much uncertainty? For example? What happens now? If people stopped traveling again? The answer? That is really about the answer having to do with where you're located. What sector you're operating in on what the business outlook is operating a restaurant which would be doing business under challenging, Sir. Come stances on the best of times because of the high failure rate thinking about being restricted at 30 or 50% of your traditional level of business. You're thinking you're walking on egg shells. But if you're in a service industry, perhaps technology I t working with the cloud collaborative tools of security, the many tools that have kept many of us in operation during the lock down, But do you think the outlook is pretty good, by the way? Mortgage interest rates or a record low levels that's helping the housing mark. And that's one reason why the financial services Trade really still has a remarkably low unemployment rate right now, and that is bankrate dot com economist Mark Hamrick.
Todd Schnitt
Florida Economy Ranks 8th In New Survey Of States Suffering During Pandemic
"Day after the governor extends the moratorium on evictions and foreclosures until August 1st Florida ranks eighth in a survey of states struggling during Corona virus. Bankrate's housing hardship index use May mortgage delinquency rates and unemployment rates to determine which states are suffering the worst economically, with unemployment in Florida nearing 15% and mortgage delinquency nearing 10%. Florida ranks eighth in the study, spokesman Geoff Ostrowski says even though Florida Lies heavily on tourism. We did better than expected because our economy is diversified for God, the agriculture would get a financial sector. We have manufacturing the international trade in Miami, he says. The military bases in Jacksonville and the Panhandle also helped