The Money Section | Why your grocery run is getting more expensive

͏The oldest bank and the youngest currency: a match made in heaven? ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [The Charlotte Observer]( October 19, 2022 • Issue #4 [The Money Section] This week, we’re looking at the surprising adoption of crypto by the oldest bank in the US, the five reasons why home prices keep falling, and the correlation between high inflation and low stock prices. By embracing crypto, an old bank stays young at heart. [Crypto]( Shutterstock In spite of skepticism by major banking institutions, BNY Mellon, the oldest bank in the nation, is now offering its clients the option to trade in bitcoin and ether via the bank’s platform. Will this move add an aura of legitimacy to crypto trading? [Read full story]( 💳 A credit card giant is also aboard the crypto train. Mastercard recently unveiled “Crypto Source”, a service that will enable financial institutions to offer crypto trading to their customers. [Here are the details on Mastercard’s plan]( which is set to launch next year in the US. 🔍 The government cracks down on crypto. Last Friday, the White House released the government’s first-ever framework for the "responsible development of digital assets", which sets the groundwork for a thorough regulation on crypto trading and could also lay the foundation for a digital dollar. [Here’s what’s in Biden’s plans for regulations.]( A tough season for homesellers. [Falling]( Eddie Lee for Money In August, up to 26% of home purchase agreements fell through — up from just 12% a year ago. More and more sellers are experiencing the same whiplash of a quickly changing market that now seems to favor homebuyers.What’s behind this trend and what can sellers do to stop it? [Read full story]( 📈 Mortgage rates keep going up. The current rate for a 30-year fixed-rate mortgage is 6.92%, 0.26 percentage points higher compared to last week. A year ago, the 30-year rate averaged 3.05%. [Here are Money's average mortgage rates for October 18, 2022.]( 😫 Rates are up, sales are down. With the average rate for a mortgage at a whopping 7%, homeownership is now out of reach for many Americans. Both buyers and sellers are in the midst of a very confusing housing market, asking themselves [“Will the housing tide turn anytime soon or will it remain volatile?”]( Investors are feeling the pain. [Inflation]( Getty Images The consumer price index (CPI) — a measure of what consumers are paying for goods and services — rose 0.4% in September, up 8.2% from a year ago. What do these numbers mean for stock market investors and the economy at large? [Read full story]( 🏁 Inflation trends are heading in the wrong direction. Prices climbed 6.6% over the year through September, the quickest rate since 1982. Predictions by analysts and experts have been proven wrong, and prices remain stubborn even as the Fed mounts its most aggressive campaign in generations to slow the economy. [Read more.]( 🚀 Faster than the speed of inflation. The latest numbers from the federal government show consumer prices for goods and services are up 0.4% from August to September, and consumers are feeling inflation at the supermarket with grocery prices up about 13% in the last year. However, certain products got more expensive at an especially fast rate. [These are the 20 items with prices rising faster than overall inflation.]( Smart Money Move Your Social Security number can be purchased on the Dark Web for just $1 [ID] [ID]When it comes to identity theft, everyone is exposed. That’s why it’s the fastest-growing crime in the United States. Hackers, fraudsters, identity thieves, and scammers are all examples of cybercriminals. Becoming a victim of identity theft can have far-reaching consequences. From considerable damage to your credit score and finances to possible criminal liability, there’s the potential for a lot of inconveniences that may cost you both time and money. Millions of Americans are already protecting their identities online — are you? [View the Best Identity Theft Protection Companies of 2022]( Stories we're reading this week - [You Can Now Officially Apply for Student Loan Forgiveness. Here's How]( - [How to successfully shop a “final sale” section]( - [Medicare Open Enrollment Starts Soon, and Here’s What’s New for 2023]( - [The IRS Says Millions of People May Still Be Eligible for Stimulus Checks and Tax Credits]( - [U.S. home heating bills expected to surge this winter]( - [Feeling Pinched? Sometimes Your 401(k) Can Help]( The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive marketing emails from The Charlotte Observer. 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