ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
Even if you can afford to buy a home these days, Medora Lee reports, ask yourself if you can afford to insure it. |
Nearly 30% of American homeowners are nervous about rising home insurance rates, according to insurance comparison site Insurify. |
Home insurance prices jumped 19% last year, or $273 per policy, on average, according to a study by Guaranteed Rate Insurance. |
Why first-time homebuyers aren't buying |
In a recent poll, 71% of potential first-time homebuyers said they won't enter the market until interest rates drop. |
Prospective homeowners sit at an impasse. Mortgage rates are not particularly high, at least in a historical sense: Roughly 7.5%, on a 30-year fixed-rate loan. Yet, first-time buyers are painfully aware of how much lower rates stood just a few years ago: Below 4%, on average, through all of 2020 and 2021, and below 5% through most of the 2010s. |
The new poll is one of several new surveys that show would-be homebuyers balking at elevated interest rates. And the sentiment isn't limited to new buyers. |
📰 More stories you shouldn't miss 📰 |
Chick-fil-A is introducing a new limited-time Maple Pepper Bacon Sandwich on June 10, and, in the fast-food multiverse, evidently that is a big deal. |
USA TODAY was invited to Chick-fil-A's Test Kitchen, outside Atlanta, to taste it before its nationwide debut. |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | It's not just houses that have become unaffordable. Home insurance prices have surged 55% since 2019. Here are ways for homeowners and buyers to cope. | | | |  | Both first-time homebuyers and current owners say they are waiting out high mortgage rates. But when, exactly, are rates going to come down? | | | | We went to Chick-fil-A's Test Kitchen to try their new Maple Pepper Bacon Sandwich. Here's what fans of the original can expect. | | | | More job postings aren't demanding that candidates have a certain amount of experience. Employers instead are emphasizing skills. | | | | Regardless of who's pitching tariffs, they're not good for the U.S. economy or for the average consumer. | | | | This marks the largest stock split to date for the chipmaker. | | | | As Red Lobster locations around the country are closing amid a bankruptcy filing, the chain said 'We're not going out of business'. | | | | Target is embracing summer by transforming its stores with several beach-themed destinations devoted to swimwear, snacks and other products. | | | | The theming in Universal Orlando's Tribute Stores can be as immersive as some rides. | | | | Worried about alienating customers after conservative boycotts slashed sales, some mainstream brands are scaling back Pride merch and promotions. | | | | |  | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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