Consumer News: Mortgage rates see largest decline since 2008, June sees boost in hiring in the U.S. and more!

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CNN– Mortgage rates dropped for the second week in a row, with the largest decline since 2008. According to federal mortgage company Freddie Mac, the 30-year fixed-rate mortgage is now 5.3%, down from 5.7%. It’s still significantly higher than it was this time last year when it was just at 2.9%. Experts say fears of a potential recession caused the recent drop. Mortgage rates, however, are still at their highest since the late 2000s, and listing prices have grown by more than 8.5% year-over-year for 24 months in a row.

CNN– Some good news on the economy, we saw a healthy boost in hiring last month of 375,000 jobs. That’s more than 100,000 over what economists expected. It’s a good sign the labor market is still moving towards a post-pandemic comeback, even as recession worries remain. Unemployment held steady at 3.6%, still close to the 52-year low we hit in the months before the pandemic.

ABC NEWS– As prices continue to climb, retailers are going all-in to compete for your dollars. Between Macys and Target, Amazon is swooping in and brining back its annual “Prime Days” specials. ABC’s Becky Worley has the details.

Categories: National News