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Stacey Wescott/Chicago Tribune/TNS

State Farm raising Illinois homeowners insurance rates by 8%

Consumer / Home and Consumer News /

It may not cause the sticker shock of last year’s whopping increase, but State Farm is set to raise homeowners insurance rates in Illinois by another nearly 8% this fall, according to a recent filing with the state.

The increase went into effect for new policies on October 1, while current customers will see the higher rates beginning in ...Read more

Justin Sullivan/Getty Images North America/TNS

Mortgage rate forecast: October 2026

Consumer / Home and Consumer News /

Mortgage rates surged in September, and they’ve reached their highest point since May 2024. The run-up in rates has left many consumers feeling less than eager to dive into the housing market.

The war in Iran sent oil prices soaring in recent months. Higher energy prices translate to both higher inflation and rising 10-year Treasury yields. ...Read more

Los Angeles Times illustration;/Los Angeles Times/TNS

Should California hotels be sued for using fragrances in their lobbies?

Consumer / Home and Consumer News /

Take a deep breath in Hollywood's Kimpton Everly Hotel and you may catch a whiff of sandalwood, leather, fennel, cardamom, violet and cedar.

And if you sniff the lobby of downtown Los Angeles' Ritz-Carlton, you may detect "bright effervescent notes ... layered with soft florals," a custom fragrance known as Champagne & Shimmer.

For years now, ...Read more

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New hazard for Treasuries hides in bond futures' fine print

Consumer / Home and Consumer News /

Look to the fine print of Treasury futures for the next big jump in bond yields.

As U.S. 30-year securities head ever closer toward 6%, the move threatens a shakeup in futures, which are widely used by investors to hedge government bond positions, and by leveraged funds in strategies such as the popular “basis trade.”

It has to do with ...Read more

Griffin Catalyst/Griffin Catalyst/TNS

A billionaire playbook? How Carnegie Mellon fits in the plan to reinvent Miami

Consumer / Home and Consumer News /

MIAMI — When South Florida billionaires Ken Griffin and Stephen Ross gathered with business leaders in February, they made a powerful pitch for a different kind of South Florida.

Through a statewide initiative powered by the advisory group Florida Council of 100, Griffin and Ross called on CEOs, billionaires and entrepreneurs to bring and ...Read more

Real estate Q&A: What happens to deal to sell our house after buyer unexpectedly died?

Consumer / Home and Consumer News /

Q: We are selling our home and are under contract with a buyer who was getting a mortgage. Last week we were told the buyer died unexpectedly. We feel terrible for the family, but we have already put money down on our next house, which depends on this sale closing. Where does this leave us? Is the deal dead, and what happens to the deposit? — ...Read more

Justin Sullivan/Getty Images North America/TNS

US mortgage rate rises to 7.28%, highest since November 2023

Consumer / Home and Consumer News /

Mortgage rates surged to the highest level since November 2023, further straining a U.S. housing market already hampered by high borrowing costs.

The average for a 30-year, fixed loan jumped 25 basis points from a week earlier to 7.28%, Freddie Mac said in a statement Thursday. The weekly increase was the biggest since October 2022. A year ago,...Read more

Angela Weiss/AFP/GETTY IMAGES NORTH AMERICA/TNS

The era of cheap money is over. What higher rates mean for you

Consumer / Home and Consumer News /

Remember when you could get a mortgage for 2.5%?

Those days seem almost as distant as dial-up internet and $1 gallons of gasoline.

Americans are living in an economy where everything is expensive — and the latest quarter-point interest rate increase by the Federal Reserve will make the cost of borrowing money higher too.

“The U.S. is a ...Read more

Gary Arbach/Dreamstime/TNS

The complete guide to balance transfers

Consumer / Home and Consumer News /

Credit cards are powerful financial tools that offer an opportunity to build your credit score. It’s no secret, though, that they can also pave the path to a mountain of debt. Forty-seven percent of cardholders carry a credit card balance from month to month, according to Bankrate’s 2026 Credit Card Debt Report — a potentially expensive ...Read more

Real estate Q&A: How do we fix title company's issue with solar panels on home we're selling?

Consumer / Home and Consumer News /

Q: We are selling our home and thought we were days away from closing. Then the title company found a “UCC” filing for the solar panels we leased a few years ago, and now the buyer’s lender is refusing to move forward until it is cleared up. We had no idea this was a problem. What is going on, and how do we save our sale? — Howard

A: Do...Read more

Justin Sullivan/Getty Images North America/TNS

Your 3% mortgage rate is crippling the housing market

Consumer / Home and Consumer News /

The U.S. housing market has been stuck in neutral for nearly four years, with sales of new and existing homes plodding along at a historically slow pace. One explanation is that the average rate on a 30-year fixed-rate mortgage in the U.S. passed 6% four years ago and has stayed above that ever since, creeping past 7% this week.

Mortgage rates ...Read more

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Buffett steps down as Berkshire chair, ending six-decade run

Consumer / Home and Consumer News /

Berkshire Hathaway Inc. founder Warren Buffett is stepping down as the company’s chairman to be replaced by his son Howard, effectively ending roughly six decades at the helm of the conglomerate.

The billionaire will become chairman emeritus of the company, effective immediately, according to a statement Friday. The elder Buffett will remain...Read more

Real estate Q&A: How do I get my money out of house I co-own with my ex?

Consumer / Home and Consumer News /

Q: My ex and I bought a house together two years ago when we were still a couple. We are both on the deed and on the mortgage. Now we have split up and moved out, and she refuses to either sell the house or buy me out. I am still paying half the mortgage on a home I cannot live in. How do I force the issue and get my money out? — Andre

A: You...Read more

Daniel Kim/The Seattle Times/TNS

Seattle revisits plan to spur housing construction by slashing fees

Consumer / Home and Consumer News /

Hoping to spur apartment construction, Seattle City Council members will soon consider a plan to slash fees developers of new housing pay.

The proposal from Councilmember Dionne Foster, slated for an initial hearing Friday, would temporarily offer developers a 60% to 80% break on Mandatory Housing Affordability fees the city charges on new ...Read more

Tyger Williams/The Philadelphia Inquirer/TNS

A Philly family bought their first home thanks to reparations from Quakers in Germantown

Consumer / Home and Consumer News /

PHILADELPHIA — Charmira and Quincy Pilgrim wanted to become homeowners a decade ago when they got married.

But over the years, job losses, jobs that didn’t pay enough, children, unpaid maternity leave, and rising costs of living made saving for homeownership impossible.

They were finally able to start putting money away late last year. And...Read more

Mario Tama/Getty Images North America/TNS

Groceries, gas, rent. Why it's so expensive to live in Los Angeles

Consumer / Home and Consumer News /

Cheryl Palumbo was out shopping for herself and her husband last week to pick up some items she had forgotten the day before at the supermarket — and couldn’t quite believe her bill.

The 78-year-old retiree had already spent $150 and here she was back at her local Ralphs forking over another $70 for fruit, vegetables and other food crammed ...Read more

Anna Moneymaker/Getty Images North America/TNS

Terry Savage: Why the national debt should concern us

Consumer / Home and Consumer News /

The U.S. national debt now exceeds $40 trillion — a MEGO number, which stands for "my eyes glaze over." Why should you care? No one else seems worried. Not Congress, for sure. They just keep spending and borrowing more.

There’s always been someone willing to lend us money. The rest of the world — until now — has been comfortable buying ...Read more

Mandel Ngan/AFP/GETTY IMAGES NORTH AMERICA/TNS

Crypto stocks and tokens drop after Senate blocks landmark bill

Consumer / Home and Consumer News /

Senators from both parties blocked a landmark digital asset market structure bill in a procedural vote Tuesday, sending cryptocurrency stocks tumbling after a major setback for industry.

The long-stalled legislation sought by crypto firms would hand the Commodity Futures Trading Commission the primary authority to regulate the digital assets ...Read more

Gina Ferazzi/Los Angeles Times/TNS

California governor signs mortgage relief bills for wildfire victims

Consumer / Home and Consumer News /

Legislation that will extend mortgage relief to victims of the January 2025 Los Angeles County wildfires and establish a similar permanent program for disaster victims statewide was signed into law Tuesday by California Gov. Gavin Newsom.

The mortgage forbearance bills by Assemblymember John Harabedian, D-Pasadena, who represents the devastated...Read more

S&P 500 seen dropping 10% on Fed hikes, MRA strategist says

Consumer / Home and Consumer News /

Potential Federal Reserve rate hikes starting this week could spur a correction in the S&P 500 as reduced corporate margins hurt profit outlooks and markets brace for a tightening cycle, according to Macro Risk Advisors LLC.

The S&P 500 has dropped nearly 1% so far in September, historically its weakest month, amid concerns over elevated energy...Read more