California Educators Financial and Insurance Services

05/07/2024

The 30-year mortgage rate is averaging 7.1%, Freddie Mac said in its latest weekly survey on Thursday.

01/11/2023

The United States has re-opened its embassy in Havana, as many Cubans look to immigrate to the U.S. AP News has the details @ https://bit.ly/3GJxnmi

HAVANA (AP) — Grappling with the biggest flood of Cuban migrants in decades, the United States reopened their long-closed legal pathway on Wednesday by resuming all visa services at its embassy in Havana.

01/10/2023

While the Fed has agreed to slow interest rate hikes, they're asking for flexibility regarding future hikes as they keep watch over the economy. Reuters has the story @ https://bit.ly/3jSHxrM

All officials at the Federal Reserve's Dec. 13-14 policy meeting agreed the U.S. central bank should slow the pace of its aggressive interest rate increases, allowing them to continue increasing the cost of credit to control inflation but in a gradual way meant to limit the risks to economic growth.

01/06/2023

01/04/2023

The SECURE Act 2.0 was signed into law as part of the $1.7 billion spending bill. How will this affect your retirement savings? NPR has the details @ https://bit.ly/3ClrCZl #2.0

From emergency savings accounts to assistance for student loan borrowers, the new federal spending bill aims to make it easier to save for retirement.

12/22/2022

The dollar is still growing strong, maintaining its value as recession worries continue to grow. Reuters has the story @ https://bit.ly/3Yq8CCw

A breathtaking surge in the U.S. dollar trampled foreign currencies, gouged corporate profits and gave investors one of the year’s few winning trades. Though the greenback has stumbled in recent weeks, recession worries may keep it elevated in 2023.

12/21/2022

After raising the interest rates another 50 basis points, the Fed has already signaled that 2023 will see more interest rate hikes. Reuters has the details @ https://bit.ly/3Fy5XOm #2023

The Federal Reserve will deliver more interest rate hikes next year even as the economy slips towards a possible recession, Fed Chair Jerome Powell said on Wednesday, arguing that a higher cost would be paid if the U.S. central bank does not get a firmer grip on inflation.

12/16/2022

The U.S. trade deficit grew in October, as a strong dollar and declining exports hit a 7-month low. Reuters has the details @ https://bit.ly/3BjOqrQ

The U.S. trade deficit widened sharply in October as slowing global demand and a strong dollar pushed goods exports to a seven-month low, suggesting that trade could be a drag on economic growth this quarter if the trend persists.

12/15/2022

Congress may have declined to add sick days for railroad workers, but investors are pushing for these benefits to be added as the threat of a strike looms. ABC News has the details @ https://bit.ly/3Hl7kCx

The major freight railroads now face pressure from investors to add sick days after Congress declined to require them as part of the contracts they imposed last week to avert a potentially devastating nationwide rail strike

12/14/2022

The last Boeing 747 has exited the factory, ending the plane's 50-year production run. CNBC has the story @ https://bit.ly/3Fx8LLZ #747

Boeing has produced 1,574 of the planes at its factory north of Seattle.