ECONOMY & MARKETS

Mortgage applications are dropping as rates remain elevated. Here's what's going on.

The rates are a big influence on mortgage interest rates, which impact the housing market.

Biden and President-elect Donald Trump have both previously slammed the potential takeover.

Credit card debt in the United States has surged to its highest level since 2010 causing experts to forecast more financial pain ahead.

Treasury Secretary Janet Yellen warned congressional leaders Friday that "extraordinary measures" will soon be required to prevent breaching the debt ceiling.

The yen weakened against the dollar Thursday after the Bank of Japan kept borrowing costs unchanged, extending a retreat for the currency that came after the Federal Reserve forecast fewer rate cuts.

The Dow Jones Industrial Average broke a half-century record for futility on Wednesday, suffering losses for the 10th consecutive session on the heels of the Federal Reserve's 0.25% interest rate cut.

"The economy is strong overall," Chairman Jerome Powell said.

The US Federal Reserve is widely expected to cut interest rates by a quarter point on Wednesday and signal a slower pace of cuts ahead.

All three major stock indexes fell on Tuesday afternoon as a sell-off continued on Wall Street.

Cocoa futures continue to rise, with experts forecasting that the supply demands will worsen the high costs for chocolate.

The Federal Reserve announced that they're cutting their benchmark rate by a quarter-point, 4.75% to about 4.3%, when their meeting ends Wednesday.

Egg prices shot up 55% for the month according to government figures.

There are concerns that future interest rate cuts are in jeopardy.

Remember to purchase these five items, as their prices are anticipated to rise following Trump's inauguration in January.

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