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Wednesday 8 May 2024

Bad news for home buyers

07:57

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Plus: TikTok sues the US government ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Wed May 8 2024

 

Betty Lin-Fisher Consumer reporter

@blinfisher

Good morning. This is Betty Lin-Fisher with today's The Daily Money.

If you're in the market shopping for your dream home, your dreams of a lower mortgage rate have been dashed, my colleague Medora Lee reports.

The Fed last week put a hold on interest rate cuts and tweaked plans for its balance sheet. Those actions may not raise mortgage rates significantly, but will likely keep them elevated, analysts say.

Read more about mortgage rates in Medora's story.

Sold Home For Sale Real Estate Sign in Front of Beautiful New House.

Mortgage rates are not expected to rise, but will likely stay elevated, analysts say.

The Repository

TikTok sues US government

In the latest volley in the TikTok battle, the social media company and its Chinese parent company Byte Dance have filed a lawsuit in federal court.

The lawsuit seeks to block a new law that would force the sale or a nationwide ban of the popular short-form video app.

Read more in my colleague Jessica Guynn's story.

📰 Consumer stories you shouldn't miss 📰

How will a proposed bill in California affect self-checkout kiosks?
Ever heard of a rage ritual? Women are paying big bucks to participate.
Social Security benefits might be cut one year later than forecast.
The stock for the parent company of Truth Social is rebounding.
Electric vehicles are bringing the return of rear-wheel drive.

🍔 Today's Menu 🍔

Consumers soon won't be able to get Charged Lemonade drinks at Panera Bread. The fast-casual food chain announced on Tuesday that it was removing the line of drinks from the menu. Panera has been hit with several suits over the drinks, including two lawsuits alleging the drink's caffeine contents caused fatal cardiac arrests, and a third, filed this year, alleged it caused permanent heart issues.

Find out more about when the drinks might disappear from the menu in this story.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

(FILES) In this file photo taken on May 17, 2020, a home displays a "For Sale" sign amid the coronavirus pandemic in Arlington, Virginia. - Existing home sales slipped in August to the lowest in two years, marking a seventh straight monthly declines, according to industry data released on September 21, 2022, showing the continued slowing in the US housing as mortgage rates surge. Sales of all types of homes and condos fell 0.4 percent from July even   while prices eased in the month, the National Association of Realtors (NAR) said. (Photo by Olivier DOULIERY / AFP) (Photo by OLIVIER DOULIERY/AFP via Getty Images) ORIG FILE ID: AFP_32JU7A8.jpg

Homebuyers hoping for a break in high mortgage rates this spring will likely have to wait. The Fed dashed hopes that relief was around the corner.

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Congress passes TikTok sell-or-ban bill
 

TikTok sues US government, fights back against forced ban

Alleging free speech violations, TikTok filed a lawsuit in federal court seeking to block new law that would force the sale or ban of TikTok.

Social distancing signs on floor by the self check out at Busch's Fresh Food Market in Canton, Friday, April 3, 2020.
 

Could California curb shoplifting with self-checkout limits?

A California bill aims to curb retail theft and create jobs by staffing up self-checkout stations and limiting purchases to 10 items or fewer.

Rage Ritual
 

Women are paying to $2,000 for 'rage retreats' – and there's a real reason why

Expensive rage rituals have garnered attention via viral videos that particularly resonate with women. Here's why.

If an inflation adjustment ends up at 3% for Social Security benefits, some payments could go up in 2024 by about $55 a month. The average monthly benefit for all retired workers is $1,827 after the cost-of-living adjustment this year, according to the Social Security Administration.
 

Social Security benefits could face cuts starting in 2035

The Social Security Administration said Monday it has enough funds to pay all scheduled benefits until 2035.

A San Francisco woman is facing more than three years in prison after being convicted of shoplifting more than $60,000 worth of items from Target using self-checkout. Aziza Graves, 43, was found guilty of one felony count of grand theft in violation and 52 misdemeanor counts of petty theft.
 

Self-checkout scam: Woman guilty of stealing $60k worth of items from Target

A woman, Aziza Graves, was convicted of stealing more than $60,000 from the same Target store in San Francisco using self-checkout.

Princess' 2026 world cruise will feature more destinations than any of the line's others.
 

This major cruise line will take guests to 28 countries for about $25K

Princess Cruises' 2026 world cruise will take guests to 52 destinations, more than any of its others.

Panera's Charged Lemonade drinks have been the subject of multiple lawsuits.
 

Panera Bread drops Charged Lemonade drinks after series of lawsuits

Panera Bread's caffeinated Charged Lemonade, subject of multiple lawsuits – and alleged cause of death of two people – is being pulled from the menu.

FILE PHOTO: The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022.
 

Trump Media stock rebounding after hush money trial low. What to know

Trump Media is known by experts as a meme stock. During its six weeks on the stock market, shares have swung wildly. What to know about ticker DJT.

Illustration by Ramon Padilla, USA TODAY
 

Maximizing your vacation time: Pack more consecutive days off in 2024

Don't let the summer drift away. Get the most out of your vacation days using this TikToker personality's plan to extend your consecutive days off

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