South County Mail

Missouri and the World

US economy

Why mortgage rates remain stubbornly high despite Federal Reserve rate cuts

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Many Americans hoping for relief in the housing market are still waiting.

Despite a series of Federal Reserve interest-rate cuts in 2024 and 2025, mortgage rates remain elevated, frustrating homebuyers, homeowners looking to refinance, and anyone hoping for a more affordable path into the housing market.

According to data released by Freddie Mac on June 4, the average rate on a 30-year fixed mortgage stood at 6.48 percent. While that is slightly below some recent peaks, it remains well above the levels many buyers became accustomed to during the pandemic years. [Read more…] about Why mortgage rates remain stubbornly high despite Federal Reserve rate cuts

More older Americans are staying in work – and facing criticism for it

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Americans are working later into life than previous generations, driven by a mix of financial pressures, longer life expectancy and changing ideas about retirement.

But new research suggests older workers increasingly face a contradictory cultural message: stay active and productive as you age – but also know when to “step aside.”

An analysis published by The Conversation argues that modern retirement has become far more emotionally and economically complicated than it once was. [Read more…] about More older Americans are staying in work – and facing criticism for it

Why Trump’s meeting with Xi matters to American jobs, prices and manufacturing

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The meeting between President Donald Trump and Chinese president Xi Jinping last week was dominated by familiar geopolitical flashpoints – trade, technology, Iran and Taiwan – but the broader significance for ordinary Americans may lie much closer to home.

While headlines focused on tensions over Taiwan and military posturing in the Asia-Pacific region, economists and manufacturers will be watching for something more practical: whether Washington and Beijing can stabilize a relationship that remains deeply intertwined with the American economy.

Even after years of tariffs, reshoring initiatives and political hostility between the world’s two largest economies, the United States still relies heavily on China for manufacturing, industrial supply chains, electronics, consumer goods and critical materials. [Read more…] about Why Trump’s meeting with Xi matters to American jobs, prices and manufacturing