interest rates

Shawn Faye is the Southern Indiana Realtor Association president-elect. He said higher mortgage rates affect people’s buying power and what they’re able to spend. If you do buy now, Faye recommends staying in the house for at least five years.

Indiana’s unemployment rate has remained below 3 percent for 12 straight months despite rising inflation, interest rates and layoffs.

Federal efforts to bring down inflation may be starting to cool Indiana’s labor market, bringing more layoffs and fewer job openings. But the market still remains tight overall.

“You’re seeing year over year seller gains drop in Lansing(-7.8%), in Kalamazoo (-7.2%)and in Ann Arbor (-6.1%) at rates that are similar to what we’re seeing nationally,” said Rick Sharga, executive vice president of market intelligence at ATTOM.

Advocates are again pushing lawmakers to pass legislation that would cap annual percentage rates of small loans.

A Senate committee revamped a bill that caps interest rates on many types of consumer credit after pushback from advocates and several lawmakers. However,…