We’ve made it to another Friday, and Elon Musk still does not own his own social media platform … yet. The future of Twitter aside, GOBankingRates is back with the lowdown for you on some of the most important financial news stories of the day. TGIF!
The Big Lead: Mortgage Rates
Mortgage rates continue to push higher this month, hitting 5% for the first time in three-and-a-half years. Some fear the higher rates will further stall an already cooling U.S. housing market, though others suggest home sales could increase in coming weeks as house hunters scramble to buy homes before mortgage rates rise again.
Economy Spotlight: Child Tax Credit
According to the Household Pulse Survey, most Americans spent their expanded Child Tax Credit to buy food, clothing and accommodations. Seventy-nine percent of people used part of their credit to buy food, followed by 46% on clothing and 40% each on housing and utilities.
Well That’s Interesting: Gas Price Gouging?
New York Attorney General Letitia James believes that gas prices in her state may be too high — even given the pressure of world events, growing demand, and waning supply — so she’s launching an investigation to discover whether the gas industry has engaged in price gouging.
Bonus: 7 Green Tax Credits
With just days to go to file your 2021 tax return, you need to make sure you have exhausted all opportunities to save money and claim available credit where you can. For many eco-aware homeowners and business owners, going green can save you a lot of green on your taxes.
ICYMI: Yesterday’s GO in the Know
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