The Money Section | A presidential strike?

͏Also, 6 ways to start saving and investing. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [The Charlotte Observer]( October 18, 2023 • Issue #55 [The Money Section] This week, we’re looking at why interest rate hikes may finally be over, why only 16% of surveyed respondents believe it's a good time to buy a house, and the recent jobs data that had analysts worried for a second. Interest rate hikes may finally be over. [Interest]( Money; Getty Images After increasing interest rates 11 times since March 2022, analysts think the Federal Reserve may finally stop its rate-hiking spree for the year. Despite potential pressure to address inflation, some Fed officials have expressed caution, hinting that the July rate hike might have been the last for this cycle. [Read more.]( 🐌 Experts agree - inflation is slowing down. Austan Goolsbee, President of the Chicago Fed, affirmed that the slowdown in US inflation is a sustained trend rather than a brief anomaly. He stressed the importance of not basing monetary policy decisions on limited data sets and called the unexpected rise in housing-related costs a "negative surprise." [Here’s where he thinks rates are headed.]( 📈 The Latino market continues to grow. Latino entrepreneurs are making significant contributions to the U.S. economy, with nearly 5 million Latino-owned businesses generating over $800 billion in annual revenue. The growing purchasing power and representation of Latinos in various industries highlight their impact on the U.S. economy, with the Latino GDP [reaching $3.2 trillion in 2021.]( Potential homebuyers are feeling pessimistic. [Pessimistic]( Money; Getty Images A recent survey reveals that only 16% of respondents believe it's a good time to buy a house, mostly due to rising mortgage rates. This sentiment matches the all-time low recorded last November, with 84% stating it's a bad time to buy. [Here’s what else is contributing to pessimism about the housing market.]( 🌍 Natural disasters are raising home insurance premiums. According to a recent study, U.S. insurers paid out $99 billion in claims related to natural disasters in 2022, leading to a 21% increase from May 2022 to May 2023. [See which states saw the highest and lowest rate increases here.]( 📉 Mortgage rates are set to come down soon. The Mortgage Bankers Association (MBA) predicts that mortgage rates –which are currently over 7.5%– will fall to 6.1% by the end of 2024 and further decline to 5.5% by the end of 2025. [Here’s what’s causing the anticipated decrease.]( Auto workers want their pensions back. [Pension]( Rangely García for Money The United Automobile Workers (UAW) union –currently on strike against Ford, Stellantis, and General Motors– is demanding the reinstatement of pensions for new hires, as opposed to the 401(k) options currently offered. [Here’s why pensions have become less common in the private sector.]( 😥 Recent jobs data had analysts worried for a second. The US economy added 336,000 jobs in September, surpassing expectations and signaling continued resilience despite concerns of a slowdown. While the data raised questions about whether this job market strength might contribute to inflationary pressures, subsequent analysis focused on positive signals, easing concerns about inflation. [Read more.]( ✊ The WGA strike has officially ended. The Hollywood screenwriters' strike has officially ended, with 99% of Writers Guild of America (WGA) members voting in favor of ratifying the three-year contract agreed upon with the Alliance of Motion Picture and Television Producers. The deal includes increased pay, health, and pension contributions, along with [provisions addressing concerns about AI.]( Smart Money Move On average, home security costs less than a burglary [Home] [Home]Are you and your loved ones as safe as you could be? Every 15 seconds a home burglary occurs in the United States. Worse yet, homes without security systems are 300% more likely to be burglarized. And while you can’t put a price on peace of mind, the fact remains that a single burglary can cost victims up to 5x more than what home security costs in a year on average. So, besides potentially deterring burglars and preventing theft, it could also save you a bundle in case the unexpected strikes. All things considered - why leave the safety of your loved ones (and your budget) up to chance? [View Money’s Best Home Security Systems list today to find options with 24/7 monitoring, 0 activation fees, and free installation.]( Stories we're reading this week - [Social Security and the 2024 COLA: Everything You Need to Know]( - [Here Are the Jobs that AI Is Good at]( - [It's Getting Too Expensive to Have Fun]( - [Biden Moves to Ban 'Junk Fees' Charged by Banks, Hotels, Ticket Sellers and More]( - [Real Estate Brokers Pocketing Up to 6% in Fees Draw Antitrust Scrutiny]( - [Why Downgrading a Little-Used Credit Card Is Smarter Than Closing It]( 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 or newsletters from The Charlotte Observer. If you no longer wish to receive emails of this type, you may [unsubscribe]( or [update your email preferences](. 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