VISA USA has made some recommendations for how to implement the shift from magnetic stripe payment cards to those which use a chip for authentication and seems primarily concerned with explaining that the new chip cards will not need associated personal identification numbers. ****Read More; Visa Emphasizing That New Cards Will Not Need Offline PINs
NEW YORK — The U.S. housing market could experience its weakest year in more than a decade as elevated mortgage rates suppress sales and keep home prices nearly flat, according to a Capital Economic s forecast. Capital Economics expects annual home sales to fall to about 4.7 million by the end of 2026, which would represent the slowest pace since 2011. After a modest recovery in 2025, homebuying activity has weakened this year as borrowing costs have increased amid renewed inflation concerns and expectations for higher Federal Reserve interest rates. “Strengthening economic growth will not provide much of a lift to the housing market, which we expect to remain in its structural malaise,” Capital Economics economists wrote, according to Business Insider. Mortgage Rates to Remain Above 6% Capital Economics expects mortgage rates to remain above 6% for at least two more years, continuing to constrain affordability and discourage homeowners with lower-rate mortgages from selling. The aver...
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