Consumer sentiment rises in July
After consumer sentiment dipped in June, preliminary data shows the metric regaining a sliver of ground in July.
According to the Surveys of Consumers from the University of Michigan, consumer sentiment rose just over one index point to 61.8, a month-to-month gain of 1.8%. However, the metric’s year-over-year change remained negative, posting a 6.9% loss. Although the highest consumer sentiment in five months, the metric is still 16% below the December 2024 value and historical averages, according to the university.
The survey also found falling year-ahead inflation expectations for the second straight month. After decreasing to 5% in June, the metric fell to 4.4% in July. Long-run inflation expectations also lowered in July, the university reported, giving both measurements their lowest reading since February.
“Consumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example, if trade policy stabilizes for the foreseeable future,” said Surveys of Consumers Director Joanne Hsu in a statement accompanying the report. “At this time, the interviews reveal little evidence that other policy developments, including the recent passage of the tax and spending bill, moved the needle much on consumer sentiment.”
Here are the insurance claims homeowners file in the summer
Grill explosions. Burst pipes. Overflowing washing machines. These are just some of the challenges that U.S. homeowners are more likely to face during the summer months, according to seasonal data from Allstate. Beyond damage from storms and other seasonal weather events, the insurance company sees elevated claims from fire and water damage, with July a prime month for such disasters.
When it comes to fire, Allstate saw blaze-related claims skyrocket over the summer in both 2023 and 2024, reporting a 78% increase between April and October. Looking for a culprit? One in five of those flames began with a grill placed too close to a home.
But heat isn't the only problem. The company also reported a 69% increase in non-weather-related water damage claims over the summer months of the same period. Appliance overflows — such as those in air conditioning drains and washing machines — made up a chunk of the issues, although burst water pipes during sprinkler season was another point of risk. And Allstate reported an actual increase in such water claims, too. Between summer 2023 and summer 2024, the company saw a 20% increase in water damage claims.
As Americans face financial strain, foreclosure filings climb
Foreclosure activity is up across the United States, according to new data from ATTOM.
In a midyear report, the analytics firm found that foreclosure starts were up 7% for the first six months of the year compared to last year. There were 187,659 properties associated with foreclosure filings — either default notices, scheduled auctions or bank repossessions — during the first half of the year, up 5.8% from the same period in 2024 and up 1.1% from two years ago.
Nationwide, one in every 758 residential units had a foreclosure filing in the first half of 2025, ATTOM said.
Filings varied from state to state, with the worst foreclosure rates for housing units in Illinois, Delaware, Nevada, Florida and South Carolina in the first six months of the year, ATTOM said.