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Meet Bankrate Housing Market Analyst Jeff Ostrowski! 🏠 With over two decades of experience covering real estate, business, the economy, and politics, Jeff brings deep expertise to today’s housing market. Since 2019, he has served on the board of the nonprofit National Association of Real Estate Editors. Outside of work, Jeff enjoys surfing, biking, and traveling. He is also the author of How to Buy a Home in a Miserable Market. Read more of Jeff’s latest work: https://lnkd.in/ef37mMp4 Give him a follow on social media: https://x.com/bio561

Bankrate Chief Financial Analyst Greg McBride, CFA joined ABC News this morning to share what signs in the economy the Federal Reserve is looking for and what financial moves Americans can make while they wait for a rate cut.

The job market continues to cool — but not collapse. New government data (Job Openings and Labor Turnover Summary, or JOLTS) shows job openings dipped to 7.4 million in June, well below expectations. Hiring also eased, reinforcing a trend we’ve seen for some time: Employers are still holding on to workers, but they’re being more selective about adding new ones. From this, we can say that there are 1.1 jobs open for every unemployed job seeker. Openings fell in industries like health care, hospitality, and financial services, while roles in retail, tech, and education saw modest gains. Another key signal: Fewer workers are quitting their jobs, suggesting a little less confidence among job seekers, or at least, more caution. This aligns with what we learned from Bankrate’s worker intention survey last week: A new Bankrate survey finds that nearly half of U.S. workers say they plan to search for a new job in the next 12 months, but many are understandably watching the climate before making a move. Looking ahead, July’s employment report is expected to show slower job growth and a slight uptick in unemployment to 4.2%. That would mark a return to where we were this spring, reflecting a labor market still strong by historical standards, but no longer overheated. Action item: If you’re thinking about making a change, now is a good time to get financially ready. Update your resume, review your emergency savings, and stay alert to openings in industries still hiring. What are your thoughts on the momentum of the broader job market or your own career? Are you optimistic, pessimistic, or something in between? Please share your thoughts in the comments section below.

The Federal Reserve is holding its July meeting this week to discuss interest rates. With inflation still closer to 3%, rather than 2%, and unemployment at 4.1%, there is likely to be no rate cut again at this Fed meeting. Bankrate Chief Financial Analyst Greg McBride, CFA, shares what to expect from the Fed's decision. https://lnkd.in/eEkg3Cv

At the Fed's July meeting, there's going to be a big, fat elephant in the boardroom. The topic of discussion that will be avoided at all costs while officials are discussing what to do with interest rates? President Donald Trump's intensifying attacks on the U.S. central bank — and the Federal Reserve. Fed officials are unlikely to cut interest rates. They've already signaled as such in records from their June meeting. They might, however, suggest that a cut in September could be a go if inflation behaves as expected. That would give Trump the lower rates he's been waiting for — but on the Fed's terms. Should the Fed wait that long to cut rates? Experts I talked to say there's arguments on both sides — for waiting and for cutting now. On the one hand, the economy has continued to beat expectations. Jobless claims have recently reversed, and consumer spending grew more than expected last month. Taken together, the U.S. economy doesn't seem to be in dire shape, giving the Fed time to make sure that any increase from tariffs doesn't lead to something more persistent — like what happened after the pandemic. On the other hand, though, the labor market is in stasis, and it doesn't have much of a buffer left before it begins to slow down more materially. Two top Fed officials, Michelle Bowman and Chris Waller, look like they're going to go against Powell this month, suggesting they'd be open to cutting interest rates. They want to get ahead of the slowdown to prevent it from getting worse. Historically speaking, dissents from governors are rare. I peeled back through data from the St. Louis Fed and found out that, since 2000, just 4 out of the 93 dissents have come from Fed governors. Interestingly, the last Fed governor to dissent was Michelle Bowman herself — who, at the time, was one of the more hawkish members of the committee and believed that the Fed didn't need to cut rates as much as they did in September 2024. The last time two Fed governors dissented, meanwhile, was 1993. Legitimate reasons for cutting interest rates aside, the fear is that Bowman and Waller — the only other two Trump appointees on the board (besides Powell) — could unintentionally imply that Powell is losing some authority over the committee. Fed Chair Paul Volcker shared a similar experience during the end of his tenure in the 1980s. The Fed likely won't cut rates, but there's still going to be a lot at stake tomorrow when officials announce their decision. What do you think the Fed should do? Does the Fed still have its independence — or is it legitimately under threat? Let me know your thoughts, and for more on what to expect at the Fed's next meeting, read our preview: https://lnkd.in/eJQ7hM9 And here's a breakdown on the unusual nature of Fed governor dissents!

With nearly half of workers planning to look for a new job in the year ahead, now is the time to prepare — not just react. A new Bankrate survey finds that nearly half of those in the workforce expect to be on the job hunt over the next 12 months. About 44% say they’re likely to ask for a raise, with younger workers leading the way. Some 27% say their concern about job security has increased since the start of the year. 18% of those working or looking for work say they’re likely to relocate for a job. Whether you're actively exploring new opportunities or just working to stay ahead of the curve, here are some actionable tips: Align Your Skills with Market Demand: Take stock of what you bring to the table and how it aligns with industries in need and the possible shape of the job market in the future. Investing in skills like data analysis, project management, artificial intelligence or digital communications can widen your career runway. Don’t forget about trades given the ongoing need for all kinds of workers requiring less than a four-year college education, many of which pay well. Build and Maintain Your Network: Opportunities often arise through relationships. Stay in touch with colleagues, mentors, and peers. If college educated, connect with your school’s alumni office or placement professionals. Don’t hesitate to offer help, too. Paying it forward is a great investment that builds on your brand and earns goodwill. Stay Ready: Even if you're not actively searching, keep your resume fresh, your portfolio current, and your goals top of mind. That way, you're ready when the next door opens, if one behind you closes unexpectedly. The labor market has been cooling from the “red hot” days of a couple of years ago. Preparation, skills attainment, and engagement are akin to having a career insurance policy.

A new Bankrate survey shares how inflation is shaping back-to-school shopping this year: 30% of shoppers say higher prices are influencing how they shop—down from 41% in 2022 when inflation was at its peak. https://lnkd.in/eEhPF8mD Back-to-school shopping is a major annual expense for many families, but financial pressure appears to be easing. Only 20% of shoppers say these costs are straining their budgets, compared with 31% in 2022. And just 11% feel compelled to spend more than they’re comfortable with, down from 26% three years ago. Still, many are making strategic adjustments to cut costs. About half (49%) of back-to-school shoppers are using at least one money-saving strategy. The most popular: buying cheaper brands (20%) and hunting for more deals or coupons (20%). These small shifts in behavior add up, and can make a big difference for household budgets. Planning ahead, stacking discounts, and sticking to a list can help families save during this high-spending season. Parents and students alike deserve a strong start to the school year—without breaking the bank.

New Hampshire is the best state to retire in 2025, according to Bankrate’s Best States to Retire study. States that best fit Americans’ retirement priorities are mostly located in New England, rather than the Sun Belt. When surveyed, Americans prioritized qualities such as affordability, health care quality, and neighborhood safety nearly as much, or sometimes more than they did weather. Bankrate Financial Analyst Stephen Kates, CFP®, “There is more to being a resident than just the number of sunny days and taxes. Categories like public safety, walkability, access to healthcare, air quality, and recreational opportunities add up to the daily quality of life retirees want.” To see the full state-by-state breakdown for the best and worst states for retirees: https://lnkd.in/ezf7HRC

When you picture retirement, do you think of sandy beaches and year-round sunshine? Turns out, retirees might be better off trading their flip flops for a light cardigan. Bankrate’s 2025 Best and Worst States to Retire Study ranks New Hampshire, not Florida or Arizona, as the top state to live your best retired life. This year’s top 10 in Bankrate’s annual study is full of unexpected contenders. Maine took the second spot at the top of the 2025 ranking, following by Wyoming, Vermont and Idaho. We weighed 15 data points based on what Americans say they value most in a Bankrate poll. Affordability, safety, healthcare and weather topped the list. That reshuffled the ranking in a big way. At the other end? Louisiana ranks last, dragged down by poor scores in safety, healthcare and extreme weather risks. Even Florida, a longtime population retirement destination, landed in the bottom 10, dinged for its rising insurance costs and natural disasters. Retirement planning isn’t just about sunshine and good weather. Americans value affordability, good health care and safety nearly as much – or sometimes more – than good weather when choosing where to retire in the country. See the full ranking here ⬇️ https://lnkd.in/dYRt67q6 #retirement #personalfinance #saving

Bankrate's new Credit Card Debt Report highlights the growing economic divide. https://lnkd.in/eVJ8j4r2 While it's encouraging to see a slight decrease in the percentage of Americans carrying credit card debt — down to 46% from 48% last year — the reality is that long-term debt is on the rise. A staggering 60% of credit card debtors have been in debt for at least a year, up from 53% in 2024. And nearly 1 in 4 credit card debtors believes they will never escape their debt. Key Findings: - Emergency expenses are the leading cause of credit card debt (45%), followed by day-to-day living costs (28%). - Baby Boomers (26%) and Gen Xers (25%) are a bit more likely to think they will always have credit card debt, compared to Millennials (21%) and Gen Zers (17%). - Only 48% of debtors have a plan to tackle their credit card balances, underscoring the need for proactive financial strategies. We need to take the stigma out of credit card debt. If you have debt, you’re not alone, and the causes are often practical. With credit card balances and interest rates at record highs, it’s crucial to address this issue head-on. Here are some tactics to consider: 1. Explore 0% balance transfer credit cards to reduce interest payments. 2. Work with a nonprofit credit counseling agency for expert guidance. 3. Consider side hustles to accelerate your debt payoff journey.