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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Personal Finance / Macroeconomic Trends & Risks
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Author: PucksFool ✧✺🐝  😊 😞
Number: of 4460 
Subject: Hot, hot, hot economy
Date: 08/07/26 9:11 AM
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apnews.com - Mortgages housing inflation interest rates

The average long-term U.S. mortgage rate rose for a fifth consecutive week to its highest level in just over a year, marking the latest strain for prospective homebuyers who are facing steep borrowing costs.

The benchmark 30-year fixed rate mortgage rate rose to 6.69%, mortgage buyer Freddie Mac said Thursday, up slightly from 6.66% reported last week. By comparison, the average rate was 6.63% at this time last year — and hadn’t been higher than its current level since late July in 2025.

Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers’ purchasing power. As rates rise, that can lead prospective home shoppers to delay buying a home, one reason U.S. home sales have been sluggish this year.


apnews.com - Employment jobs layoffs pay economy

The number of Americans applying for unemployment benefits rose last week but layoffs remain in the historically healthy range of the past few years.

U.S. filings for jobless aid in the week ending August 1 rose by 1,000 to 199,000, the Labor Department reported Thursday. The previous week’s figure was revised up by 1,000 to 198,000.

Weekly filings for unemployment benefits are considered representative of layoffs and are close to a real-time indicator of the health of the U.S. job market.

Last week, the Federal Reserve’s preferred inflation metric, PCE, came in at 3.7% for June, still well above the U.S. central bank’s 2% target. If inflation remains elevated, Fed officials say they are ready to raise interest rates to combat higher prices, raising costs for businesses and making them less likely to hire.
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