The Latest Breaking News from the Federal Reserve

Learn how they might affect Americans and the global economy.

With the Federal Reserve moving away from its prior efforts to tighten money supply, the measure theoretically provides relief for many economic entities. Under basic economic principles, reduced costs of borrowing encourage capital expenditures, investments and other growth-centered activities. However, one of the more obvious beneficiaries is the housing market.

Texas' overall cost-of-living index is below the national average at 92.1. That being said, the net worth needed to be considered upper class is still high.

The one day of the week that refinancing your mortgage comes with a couple of concerns to watch out for — they could cost you if you're not careful about them.