Mortgage rates have experienced fluctuations over the last few months, with a general upward trend in recent weeks. As of January 15, 2025, the average 30-year fixed-rate mortgage stands at 7.01%, reflecting a slight increase from earlier this year — and from the rates we saw in late 2024.

President Biden discussed the economy in the last interview of his administration on MSNBC’s “The Last Word with Lawrence O’Donnell" Thursday night.

The consumer price index (CPI) rose 2.9 percent year-over-year in December, the largest annual increase since July. When stripping out the more volatile food and energy sectors, core inflation slowed to 3.2 percent, from 3.3 percent.

Brazil's Finance Minister Fernando Haddad said on Friday that high interest rates are poised to have a much stronger effect on inflation than many expect, dismissing fears that fiscal challenges could undermine the effectiveness of monetary policy.

The latest inflation report slashed the risk that the Fed could go back to hiking interest rates this year, Wall Street strategists say.

Entering 2025, models from forecasting companies like Trading Economics anticipate inflation rates between 2.4% and 2.9% between the end of 2024 and the start of 2026. Unfortunately, actually predicting inflation can be difficult, as rates can be affected by a variety of factors, including political climates and supply-chain interruptions.

The consumer price index increased by 2.9 percent in December from a year earlier, the Labor Department reported Wednesday, in line with economists’ expectations and hotter than a 2.7 percent rise in November. It was also above a 2.6 percent annual increase in October.

Gas prices rose sharply, but investors homed in on a small decline in the core CPI.

The outgoing Biden Administration has made resources available to help individuals navigate the Inflation Reduction Act's provisions.

India's economic growth is poised to rebound as domestic demand regains strength, but "stickiness" in food inflation warrants careful monitoring, the central bank said in its monthly bulletin released on Friday.

A relatively benign U.S. reading on consumer price increases triggered a sharp relief rally in stocks and bonds on Wednesday, but traders and investors warn that markets are likely to remain anxious about the pace of inflation.