Consumer News: Maryland bans surveillance pricing in grocery stores

Many buyers are seeing little reason to enter the market

By Mark Huffman of ConsumerAffairs

• The average rate on a 30-year fixed mortgage rose to 6.49% this week, up slightly from 6.47% last week but below the 6.77% average a year ago.

• Mortgage rates have remained in a narrow range around 6.5% for the past six weeks, providing borrowers with more certainty even as affordability challenges persist.

• While rates are lower than a year ago, elevated borrowing costs continue to weigh on home affordability and are likely to keep the housing market moving at a measured pace.

The average rate on a 30-year fixed-rate mortgage increased slightly to 6.49% this week, according to Freddie Mac, remaining near the level where borrowing costs have hovered for more than a month.

The rate edged up from 6.47% last week but remains below the 6.77% average recorded during the same week a year ago. Freddie Mac also reported the average 15-year fixed-rate mortgage rose to 5.84%, compared with 5.81% a week earlier.

"Mortgage rates have remained essentially unchanged for the past six weeks, continuing to stabilize after earlier volatility," Freddie Mac said in its weekly Primary Mortgage Market Survey.

Good and bad

The steady rate environment offers prospective buyers greater certainty as they plan home purchases. However, borrowing costs remain well above the historic lows seen during the pandemic, limiting purchasing power for many households.

At current rates, monthly mortgage payments remain significantly higher than they would be at rates closer to 5%, making affordability a key challengeespecially for first-time buyers already facing elevated home prices and limited inventory.

For the broader housing market, the stability in mortgage rates could help sustain modest buyer demand during the summer selling season. Buyers who delayed purchases while waiting for rates to fall may become more willing to enter the market if borrowing costs continue to hold near current levels.

However, economists caution that a meaningful rebound in home sales is unlikely without either lower mortgage rates or increased housing supply. While rates are down modestly from a year ago, they remain high enough to discourage many existing homeowners from selling because they are locked into much lower mortgage rates.

As a result, the housing market is expected to continue experiencing gradual improvement rather than a sharp acceleration, with stable mortgage rates providing a more predictable environment for both buyers and sellers while affordability remains the industry's biggest headwind.

Some prices are rising by $100 or more

By Mark Huffman of ConsumerAffairs

• Apple has raised prices on many MacBooks, iPads and several other devices, citing sharply higher memory and storage chip costs driven by the AI boom.

• iPhone, Apple Watch and AirPods prices remain unchanged for now, though Apple has signaled additional price increases could follow.

• Analysts say the move reflects growing pressure across the technology industry as demand for AI infrastructure drives up the cost of critical components.

Inflation is creeping into Apples product line-up. The tech giant has announced a number of price increases across much of its Mac and iPad lineup, saying it can no longer absorb the soaring cost of memory and storage components as demand from the artificial intelligence industry strains global supply chains.

The price hikes, which took effect this week, affect MacBook laptops, iPads, desktop Macs, Apple TV and HomePod speakers. Depending on the product, prices are rising by roughly 15% to 25%, with some premium models increasing by several hundred dollars.

Among the changes:

• The entry-level MacBook Neo now starts at $699, up from $599.

• The 13-inch MacBook Air rises to $1,299 from $1,099.

• The base MacBook Pro now starts at $1,999, up from $1,699.

• The standard iPad increases to $449 from $349.

• The 11-inch iPad Pro now starts at $1,199, up from $999. (9to5Mac)

Some popular products were spared

Notably absent from the increases are the iPhone, Apple Watch and AirPods, whose prices remain unchanged. However, Apple suggested additional price adjustments could be announced later.

Apple CEO Tim Cook had warned last week that price increases had become "unavoidable," saying Apple had spent months trying to shield customers from rising component costs but could no longer do so.

According to Apple, the biggest culprit is an unprecedented surge in demand for memory and storage chips used in AI data centers. As technology companies invest billions of dollars in AI infrastructure, suppliers have shifted production toward high-performance memory, tightening supplies for consumer electronics manufacturers.

Other companies are raising prices

Industry analysts say Apple is not alone. Several major technology companies, including Dell, Microsoft and Samsung, have already increased prices on some products in response to the same supply constraints.

The move could have broader implications for consumers shopping for computers and tablets later this year. Some analysts expect Apple's upcoming iPhone lineup to become more expensive as newer devices require additional memory to support on-device AI features. While Apple has not announced any iPhone price increases, industry observers believe they may be difficult to avoid if component costs remain elevated.

The announcement also rattled investors. Apple shares fell about 5% following the news as markets weighed the potential impact of higher prices on consumer demand and future sales.

For consumers considering a new Mac or iPad, the increases mean waiting is unlikely to result in lower prices unless retailers offer temporary discounts from existing inventory. The wider trend suggests technology prices could remain under pressure as the AI boom continues to reshape the semiconductor market.

The Personal Consumption Expenditures (PCE) price index rose 0.4%

By Mark Huffman of ConsumerAffairs

The Federal Reserve's preferred inflation gauge accelerated in May, with the Personal Consumption Expenditures (PCE) price index rising 4.1% from a year earlier, its highest annual rate in three years.

Consumer spending and personal income both increased 0.7% during the month, suggesting households continue to spend despite higher prices.

The combination of stronger inflation and resilient consumer demand is likely to reinforce expectations that the Fed will keep interest rates elevatedor even consider additional rate hikes.

Theres growing evidence that inflationary pressures are building in the economy. Federal Reserve's preferred measure of inflation accelerated in May, providing fresh evidence that the U.S. economy remains surprisingly resilient even as higher prices continue to challenge policymakers.

The Commerce Department reported this week that the Personal Consumption Expenditures (PCE) price index rose 0.4% in May from the previous month and 4.1% from a year earlier, up from 3.8% in April. Excluding the volatile food and energy categories, the core PCE price index increased 0.3% during the month and 3.4% over the past year.

That number is important because the PCE index is closely watched, and is the inflation measure the Federal Reserve relies on most heavily when setting monetary policy. The central bank has a long-term inflation target of 2%, which suggests it wont cut interest rates anytime soon.

However, consumers are still spending

The inflation report was accompanied by signs that consumers remain willing to spend despite higher borrowing costs and elevated prices.

Personal income rose by 0.7% in May, while disposable personal income also increased 0.7%. Consumer spending climbed 0.7%, or $156.1 billion, with gains in both goods and services. After adjusting for inflation, real consumer spending increased 0.3%.

The increase in spending was led by services such as healthcare, housing and utilities, transportation, and financial services, while purchases of goods also rose, according to the Bureau of Economic Analysis. Farm income and higher employee compensation contributed to the increase in personal income.

Mixed bag

In short, the report paints a mixed picture of the economy.

On one hand, rising incomes and continued consumer spending suggest households remain financially resilient, helping to support economic growth. Consumer spending accounts for roughly two-thirds of U.S. economic activity, making it a key driver of the nation's economy.

On the other hand, the acceleration in inflation complicates the Federal Reserve's efforts to return price growth to its 2% goal. Economists noted that higher energy prices, along with continued increases in healthcare, transportation and financial services costs, contributed to May's inflation pickup.

The stronger-than-expected economic backdrop has prompted investors to reassess the outlook for interest rates. Earlier expectations that the Fed might lower rates this year have faded as inflation has remained stubbornly above target while consumer demand continues to hold up.

Reloading is common among scammers who often target victims a second time

By Mark Huffman of ConsumerAffairs

• Scam victims are often targeted again. Fraud experts say "reloading"where criminals repeatedly contact previous victimsis a well-established tactic.

• Victim information is valuable. Scammers buy, sell and share lists of people who have already fallen for fraud because they are viewed as more likely to respond again.

• No one knows exactly how common it is. While researchers agree repeat victimization is widespread, there are no reliable national statistics measuring how many scam victims are targeted a second time.

Falling victim to a scam can be devastating, but for many consumers, the ordeal doesn't end with the first financial loss.

Consumer protection agencies, researchers and law enforcement say many victims are targeted again in a practice known as "reloading." The tactic involves criminals returning to previous victimsor selling their contact information to other fraudsterswho then attempt to steal even more money.

One of the most common forms of reloading is the recovery scam. After someone loses money to an investment, romance or cryptocurrency scam, they may receive a call, email or social media message from someone claiming they can recover the lost funds. The catch is that the victim must first pay an upfront fee, taxes or legal costs. Once that money is sent, the supposed recovery agent disappears.

Other victims are lured into new fake investment opportunities, additional sweepstakes or prize , or another version of the original fraud. In some cases, the same criminal organization contacts the victim again. In others, the victim's name and contact information have been shared with unrelated scam networks.

Fraud investigators say these so-called "sucker lists" have long been a staple of organized fraud operations. They contain names, phone numbers and notes about previous victims, making them valuable commodities among criminals who believe someone who has been deceived once may be more likely to respond again.

Surprising lack of data

Although reloading is widely recognized, there is surprisingly little data showing exactly how often it occurs. Federal agencies such as the Federal Trade Commission and the FBI track fraud complaints and financial losses, but they do not routinely publish statistics showing how many victims are later targeted again.

Researchers have reached a similar conclusion. Studies have identified a group of "chronic" fraud victims who suffer repeated financial losses over time, but experts caution that there is no reliable nationwide estimate of the percentage of scam victims who experience repeat targeting.

The lack of precise numbers reflects the difficulty of measuring the problem. Many victims never report fraud, subsequent may involve entirely different criminal groups, and victims often do not realize that a later solicitation is connected to the original scam.

Even without a definitive percentage, consumer advocates say the message is clear: anyone who has lost money to a scam should be especially wary of unsolicited offers to recover funds, make a new investment or claim a prize. Rather than being left alone, previous victims often become some of the most attractive targets for the next scam.

A few simple steps can keep your getaway scam-free

• Travel are rising: AI-powered fake booking sites, phishing emails, and impersonation are making fraud harder to spot than ever.

• Watch for red flags: Fake vacation rentals, lookalike travel websites, and "too-good-to-be-true" deals are among the most common this summer.

• Book smart: Reserve directly with travel providers, pay with a credit card, and verify any emails, texts, or calls through the company's official website before taking action.

Summer travel season is in full swing, and unfortunately, so are the scammers.

A new report highlighted by Travel + Leisure found that more than 40% of Americans have fallen victim to an online scam, with travel-related fraud becoming increasingly sophisticated thanks to AI-generated content, fake booking websites, phishing messages, and impersonation .

The problem isn't just that scammers are becoming more active. They're becoming harder to spot.

Today's fraudsters can create realistic-looking websites, convincing emails, professional social media ads, and even fake customer service operations that mimic legitimate travel brands. Experts say many travelers are being caught off guard because the often appear to come from companies they already trust.

Here's what travelers need to know before booking their next trip.

Why travel are exploding

Travel is expensive right now. Airfares, hotels, and vacation rentals remain costly, which means consumers are actively searching for deals. Scammers know this.

According to research from cybersecurity company McAfee, many travelers admit they feel pressure to book quickly when they find a good price. That urgency creates the perfect environment for fraud. Roughly one-third of travelers say they would book a cheaper deal before fully verifying it was legitimate.

Add artificial intelligence into the mix, and become even more convincing. AI can generate realistic emails, fake reviews, polished websites, and customer service messages that look nearly identical to the real thing.

The most common travel right now

• Fake vacation rentals: This remains one of the oldest and most effective travel . Criminals steal photos from legitimate listings and create fake rental properties on websites, social media, or classified platforms. Travelers pay deposits or full booking amounts only to discover the property doesn't exist.

• Fake booking confirmations: Scammers send emails or text messages claiming there's a problem with a reservation, payment, or account verification. The message often creates urgency and directs travelers to click a link or enter payment information. Some even include real reservation details, making them appear legitimate.

• Lookalike travel websites: Fraudsters build websites that closely resemble major airlines, hotel chains, or booking platforms. A slight misspelling in the web address may be the only clue that something is wrong. Travelers think they're booking directly with a trusted company when they're actually handing over payment information to criminals.

• Fake customer service numbers: Some scammers buy online ads or manipulate search results so their phone number appears when travelers search for airline or hotel customer support on Google. Once connected to the scammer via a phone call, victims may be tricked into sharing credit card information or paying bogus fees.

Pro tip: Also avoid logging into your banking apps while using any public Wi-Fi networks at airports or hotels. Any banking you need to do can wait until youre on a secure network.

Five ways to protect yourself

1. Book directly whenever possible: Whenever possible, book through the airline, hotel, cruise line, or well-known travel platform directly. Avoid clicking links in unsolicited emails or text messages. Instead, open your browser and type the company's web address yourself.

2. Pay with a credit card: Credit cards typically offer stronger fraud protections than debit cards, wire transfers, gift cards, or peer-to-peer payment apps. Never pay for a vacation rental using gift cards, wire transfers, or cryptocurrency. If something goes wrong, disputing a charge is often much easier.

3. Be suspicious of urgency: Scammers love phrases like "limited availability," "act now," "last chance," and "your reservation will be canceled." Legitimate companies may have deadlines, but they rarely pressure customers into immediate action without the ability to verify their credibility.

4. Read reviews carefully: Look beyond just the star rating. Pay attention to recent reviews, repeated complaints, and customer photos. If multiple travelers mention hidden fees, booking issues, or poor communication, consider it a warning sign.

5. Verify before clicking: If you receive a text, email, or phone call regarding a reservation you made, make it a habit to not use the contact information provided in the message. Instead, visit the company's official website by typing it into your web browser and call the actual phone number on their website, or start a live chat (if available).

Pro tip: Always trust your gut. If a deal looks dramatically cheaper than every other option, assume theres a reason and investigate further, or just save yourself the hassle and simply walk away.

The bottom line

Travel are getting fairly sophisticated and are no longer easy to spot. AI tools, fake websites, phishing texts, and impersonation have made fraud look more legitimate than ever.

The good news is that most still rely on the same tactics. Specifically, they make you rush decisions, create confusion, and are often deals that seem too good to be true.

So always slow down, verify before you pay, and book through trusted sources. A few extra minutes of research can help ensure your vacation memories are about the trip itself not the scam that nearly ruined it.