Selling a house costs an average of $54,000 – Here’s how you can control costs
The biggest expenses for sellers were the real estate agent and buyer’s agent fees. (iStock) When you combine agent fees and moving costs, home sellers have spent more than they expected this year to secure a home sale, according to real estate brokerage Clever Real Estate. investigation. According to the survey, sellers spent an average […]
Private student loan interest rates fall for 10- and 5-year terms
At Credible Operations, Inc. (NMLS No. 1681276, hereafter referred to as “Credible”), our goal is to give you the tools and confidence you need to improve your financial situation. While we promote products from partner financial institutions from whom we receive compensation for our services, all opinions are our own. The latest private student loan […]
Housing market short 4.5 million homes – here’s how that impacts your house hunt
Without an increase in housing supply, home prices will continue to rise, the Zillow report said. (iStock) The US housing shortage is worsening, with a housing shortfall expected to grow by an additional 1.8 million homes by 2022, according to Zillow. report. The U.S. will have 4.5 million fewer housing units than needed in 2022, […]
Social Security recipients need to update their online accounts. What to know
Treasury Secretary Janet Yellen said Thursday that President Biden “doesn’t have a plan” when it comes to the future of Social Security spending, but rather has principles. Millions Social Security recipients You will need to switch to the new login portal immediately to continue accessing your online account information. The Social Security Administration (SSA) announced […]
First-time homebuyers are often overwhelmed by unexpected homeownership costs: study
Buyers often forget about home improvements and emergency repairs. (iStock) Many first-time homebuyers are enthusiastic about the prospect of buying a home, but lack the hands-on experience to know what they may face when buying a home for the first time. Approximately 41% of first-time homebuyers are not very aware of the costs associated with […]
Negative car equity is higher among borrowers with lower income and credit scores: CFPB
A recent CFPB report suggests that incorporating negative equity into new car loans may be a risky practice. (iStock) According to a recent study by the Consumer Financial Protection Bureau (CFPB), drivers with negative balances on their auto loans are twice as likely to have their accounts foreclosed, and they also have lower incomes and […]
Housing affordability top concern for younger voters this presidential election: survey
Young Americans want to know how the next president will solve the problem of rising housing prices. (iStock) Rising home prices are the top concern for young Americans heading to the polls for the Nov. 5 presidential election, according to a recent Redfin survey. investigation. The survey found that about 91% of Gen Zers cited […]
83% of Americans consider homeownership an essential life milestone: survey
The facts that clear up some misconceptions about the home buying process may help you achieve your goal of homeownership. (iStock) Recent surveys show that Americans still believe in homeownership, but soaring home prices, skyrocketing borrowing rates and misconceptions about the homebuying process are preventing many from achieving that goal. According to KB Home, the […]
Consumers find mild relief as June inflation dips by 0.1%
Inflation rose 3.0% year-on-year, down from 3.3% in May. (iStock) The Consumer Price Index (CPI) was unchanged in May but fell 0.1% seasonally adjusted in June. The Bureau of Labor Statistics recently. Over the past 12 months, the all-item index has risen 3%, slowing from a 3.3% increase in May, driven largely by rising food […]
Home prices hit another high while mortgage rates drop slightly
Mortgage rates fell from 6.95% to 6.89% last week. (iStock) Mortgage rates continue to fluctuate, declining slightly from last week when average rates were close to 7%. The average rate for a 30-year fixed-rate mortgage was 6.89% as of July 11. Freddie Mac is. Currently, interest rates on 30-year mortgages are lower than they were […]