Podcast: Understanding how monetary policy shapes SOFR

This holiday bonus episode digs into the Banking Journal archives to learn more about the "Christmas Club" savings vehicle, and what this financial product says about human psychology and behavioral economics.

The PNC Christmas Price Index, which tracks the cost of a full set of gifts from "The Twelve Days of Christmas," rose 5.4% to $49,263.47 in 2024, compared to a 2.7% rise in 2023.

The University of Michigan Consumer Sentiment Index increased 3.1% in December compared to the month prior, landing at 74, according to final results for the month. The December figure was up 6.2% from a year ago.

Personal income increased 0.3%, or $71.1 billion, in November, the Commerce Department said. The personal savings rate — a percentage of disposable personal income — was 4.4%.

In challenging times, sharing information about support programs resonates with vulnerable consumers, according to a survey of bank customers.

The rate for a 30-year fixed-rate mortgage was 6.72% this week. The rate for a 15-year fixed-rate mortgage was 5.92%.