Mortgage Rates Hit New High as Fed Signals Cautious Path Forward

Mortgage rates have risen recently, reaching a 30-year fixed rate of 7.15%, the highest level seen in over a year. This increase follows the Federal Reserve's decision to keep interest rates unchanged at their latest meeting. Despite earlier predictions that interest rates would be lowered several times in 2025, the Fed is now expecting only two small rate cuts by the end of the year. This cautious approach is mainly because inflation remains a concern, even though it has slightly improved in recent months. Economists are also worried about slowing economic growth, causing them to lower their expectations for the overall U.S. economy.

Pandemic Profiteers: How COVID Relief Fraudsters Exploit Emergency Aid

Since the pandemic's start, fraud related to COVID relief programs has significantly risen, causing millions of dollars in losses and prompting government crackdowns. Scammers take advantage by submitting false claims to programs like the Paycheck Protection Program (PPP), which was designed to help small businesses pay their workers during hard times. Recently, three people in Miami faced charges for allegedly stealing $6.5 million through over 165 fake PPP loan applications. They reportedly lied about employees and expenses to gain approval, then kept the funds for personal use instead of helping businesses. Cases like these highlight ongoing weaknesses in emergency assistance systems, revealing how fraud can harm honest businesses and disrupt economic recovery.

Steady Savings, Smart Budgets: Navigating High Inflation and Rising Rates

With inflation remaining high and mortgage rates nearing 7%, many Americans are adapting their personal finance strategies to protect their money. Economic uncertainty, even more complicated by political debates over government policies, is forcing families to reconsider their financial choices. Experts advise families to prioritize steady savings habits by regularly putting money into retirement accounts such as 401(k)s or IRAs, especially if their employers offer matching contributions. Automatic savings transfers and budgeting carefully to limit unnecessary spending are also recommended to help households withstand economic ups and downs.

Side Hustle Nation: How Young Adults Thrive Amid Economic Stress

In recent years, many young adults in the U.S. have started taking on side gigs to earn extra money due to ongoing economic stress, higher living costs, and limited growth in regular jobs. Easy access to digital tools and online marketplaces has helped make side work like freelancing, selling goods online, driving for services such as Uber, or creating online content very popular. Surveys and labor market reports indicate that younger generations see side hustles as a necessary way to cope with financial pressure and build stability as wages in traditional jobs aren't rising quickly enough to meet daily expenses.

U.S. House Passes SALT Cap Boost with New Limits for High Earners

On May 22, 2025, the U.S. House of Representatives voted to pass the “One, Big, Beautiful Bill,” a new budget reconciliation bill that changes federal taxes in important ways. One major part of this new legislation increases the limit on the amount taxpayers can deduct for state and local taxes (called SALT deductions). Starting in 2025, this cap goes up from $10,000 to $40,000 for some households. However, this deduction begins to phase out for people earning over $500,000 (or $250,000 if married filing separately), and the income thresholds will continue increasing each year by 1% until 2033. While this provides relief for many taxpayers, the bill also introduces limitations that may impact business owners.

Financial Avoidance: When Anxiety Turns Money Matters into Money Matters Ignored

Financial avoidance happens when people intentionally ignore their money issues or avoid looking at their financial situation due to anxiety or stress. A 2025 MX survey found that about 22% of Americans avoid checking their finances completely, especially younger people. Around 33% of Generation Z and 28% of Millennials regularly stay away from important money tasks. This habit feeds into a paycheck-to-paycheck mentality—even those who make more money can struggle, with Bank of America Institute noting that 26% of U.S. families spend nearly all their income on basic expenses. Avoiding financial issues this way can lead people to focus only on short-term needs rather than planning for future financial security.

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