Category: Economy

A Fading Middle-Class Perk: Lower Mortgage Rates

A Fading Middle-Class Perk: Lower Mortgage Rates

For three decades, the U.S. middle class enjoyed a rare financial advantage over the wealthy: lower mortgage rates. Now, even that perk is fading away. Most ordinary homebuyers are paying the same or higher...

The Next Massive Bailout: Student Loans

The Next Massive Bailout: Student Loans

A new repayment option is really about student debt forgiveness. It’s been popular, and is getting very expensive for taxpayers. A few years ago, I began interviewing adults at least 10 years out of...

The Digital Economy Is Profoundly Unequal

The Digital Economy Is Profoundly Unequal

Is unbridled innovation good for society? Can we trust the internet? Can we afford not to? These are some of the big picture questions being asked right now at the annual Institute for New...

Average U.S. 30-Year Mortgage Rate Rises to 4.40 Percent

Average U.S. 30-Year Mortgage Rate Rises to 4.40 Percent

Average U.S. rates on fixed mortgages rose this week in the wake of comments by Federal Reserve Chairman Janet Yellen suggesting that the Fed could start raising short-term interest rates by mid-2015. Mortgage buyer...

The IRS Will Tax Bitcoin As a Property

The IRS Will Tax Bitcoin As a Property

The IRS has announced it will categorize virtual money as property, not as currency. The move will impose significant taxes and regulations on the fledging Bitcoin market, but will likely be a boon for...

U.S. Gas Prices Have Gone Up $4 Per Tank in The Last 6 Weeks

U.S. Gas Prices Have Gone Up $4 Per Tank in The Last 6 Weeks

A new survey by industry analyst Trilby Lundberg finds the average price of gas is up 26 cents across the U.S. over the last six weeks—five cents just in the last two weeks—representing a...

Uncle Sam Has $760 Million in Tax Refunds Just Waiting To Be Claimed

Uncle Sam Has $760 Million in Tax Refunds Just Waiting To Be Claimed

If Americans don’t claim the money they’re owed by April 15, it becomes the property of the U.S. government. The money comes from people who didn’t file tax returns in 2010, but were eligible...