Mortgage rates have seen a relatively sharp rise this month. The average 30-year fixed-rate loan hit 4 percent earlier in June — a big jump from the record lows of recent years. Some investors are now concerned that the housing recovery could be stifled if rates continue to rise quickly.
The Federal Reserve has two main missions: to maximize employment and minimize inflation. Right now, there are few, if any, signs that prices for goods are spiking, and the job market is still crawling out of its long, deep slump.
The violin and viola that Wolfgang Amadeus Mozart played himself are in the United States for the first time ever. The instruments come out of storage only about once a year at the Salzburg Mozarteum in Austria. The rest of the time, they're kept under serious lockup.
Miguelo Rada doesn't seem like the kind of guy who'd have extra cash. He just spent 32 years in prison, he lives in a halfway house in West Harlem, and his current income comes only from public assistance.
He uses food stamps for food, wears hand-me-down clothes and buys almost nothing. He is also an unofficial bank.
"If somebody asks me, 'Can I borrow $20?' If I have it I'll say, 'Here!' " he says.
This kind of borrowing is one way people do what economists call "consumption smoothing" – basically making spending more regular, even when income is not.
Lots of passionate people are taking up farming these days, motivated by frustration with industrial farming, concerns about the environment, and a desire to build community and local food markets. Some of these new farmers have joined the Grange, a long-established fraternal organization for farmers with roots in social activism.
In Oregon, Granges dominated by this new generation have banded together in a coalition dubbed "Green Granges," which work together to advance the issues they care about.