Day: August 19, 2022

Newsfeed: ‘The real mortgage rate is a negative number.’ As inflation stubbornly remains high, do current mortgage rates look better than they seem?

Newsfeed: ‘The real mortgage rate is a negative number.’ As inflation stubbornly remains high, do current mortgage rates look better than they seem?

I write about mortgage rates every week, but recently, I’ve heard some sources chattering about what’s called the “real mortgage rate.” In a nutshell, this is the interest rate on mortgages minus the current inflation rate. “With inflation running so high right now, even though mortgage rates have risen, the real mortgage rate is a negative number,” says Kate Wood, home expert at NerdWallet. When the CPI was at 9.1%, for example, “if you had a mortgage with a 5% interest rate, your real mortgage rate is -4.1%,” she says. (See the lowest mortgage rates you can get here.)

Newsfeed: Governor DeSantis Announces Florida’s Unemployment Rate Drops to Historic 2.7 Percent as State’s Job Creation Skyrockets

Newsfeed: Governor DeSantis Announces Florida’s Unemployment Rate Drops to Historic 2.7 Percent as State’s Job Creation Skyrockets

Today, Governor Ron DeSantis announced Florida’s unemployment rate dropped to a historic 2.7 percent in July as the state’s job creation skyrocketed. Florida’s July 2022 unemployment rate is the lowest since February 2020 and this level has only been reached three times since Florida began recording unemployment data in 1976.

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