Real Estate News 02/21/2024

Today’s News Synopsis:

The discussion came as policymakers not only decided to leave their key overnight borrowing rate unchanged but also altered the post-meeting statement to indicate that no cuts would be coming until the rate-setting Federal Open Market Committee held “greater confidence” that inflation was receding.

In The News:

CNBC – “Fed officials expressed caution about lowering rates too quickly at last meeting“ (02-21-24)

“The meeting summary indicated a general sense of optimism that the Fed’s policy moves had succeeded in lowering the rate of inflation, which in mid-2022 hit its highest level in more than 40 years.”

Marketwatch –  “Biden administration is canceling $1.2 billion in student-loan debt for 153,000 borrowers” (02-21-2024)

“More than 150,000 borrowers who have been in repayment on their student loans for at least 10 years will have their debt cancelled, the Biden administration announced Wednesday. ”

Yahoo Finance –  “IRS to pursue business private jet usage in new round of audits on high-wealth taxpayers” (02-21-24)

“IRS leadership said Wednesday that the agency will start conducting dozens of audits on businesses’ private jets and how they are used personally by executives and written off as a tax deduction — as part of the agency’s ongoing mission of going after high-wealth tax cheats who game the tax system at the expense of American taxpayers.”

CNBC –  “Homeowners insurance rates skyrocketed in these 10 states — here’s how to lower your premiums” (02-21-2024)

“The average premium in February 2024 is about $141 a month for a home with $250,000 worth of dwelling insurance. That represents a 23% increase from January 2023.”

Yahoo Finance –  “January economic data challenges soft landing narrative” (11-19-23)

“Over the past several months a string of stronger-than-expected data had many investors embracing a possible soft landing, in which inflation would fall to the Federal Reserve’s 2% goal without a severe economic downturn.”