$2.9M Mega Millions winner has only hours to claim giant prize
Raising Cane’s CEO AJ Kumaran explains why he bought 50,000 lottery tickets for all employees after the Mega Millions jackpot hit $810 million. The California Lottery is urging the owner of a $2.9 million winning Mega Millions ticket to come forward as the deadline to claim the prize approaches. The winning ticket was purchased at […]
Americans retirement outlook improves despite inflation: survey
Recent surveys suggest that Americans are feeling more optimistic about their retirement lives thanks to rising wages. (iStock) Confidence among U.S. workers and retirees about their retirement prospects has not yet fully recovered from record lows hit in 2023, but it is slowly improving, according to a recent survey. According to the Employee Benefits Institute […]
Borrowers urged to apply for Navient’s private student loan forgiveness
There is a path to relief for private student loan borrowers who were defrauded by their schools. For all the hoopla about federal student loan forgiveness, there has been little relief for students with private student loans, though one little-known program led by private student loan lender Navient is forgiving private loans for borrowers who […]
71% of Americans waiting on interest rate cuts before hunting for homes: survey
A recent survey suggests that Americans aren’t giving up on homeownership; they’re just waiting for prices to come down. (iStock) A recent survey found that while many Americans still dream of buying a home, the majority are waiting until mortgage rates fall before making a purchase. According to BMO Financial, 67% of respondents said owning […]
Consumers discouraged by high interest rates and deteriorating financial health: study
More consumers are considered financially unsound than last year. (iStock) Inflation and the pandemic have driven up interest rates and lowered consumer satisfaction, with roughly 73% of consumers with loans classified as financially unhealthy. J.D. Power Consumer Lending Satisfaction Survey found. Last year, 67% of consumers fell into a similar category, indicating that times remain […]
Americans typically spend about 24% of their income on mortgage payments
The average mortgage payment is just over $2,000. (iStock) Mortgage payments are up from a year ago, but still below the threshold that many mortgage experts recommend homeowners adhere to. Often recommended by homeowners Don’t spend more than 30% of your income Regarding housing costs, the average monthly mortgage payment for a single-family home currently […]
The 10 cheapest new cars in 2024
The Mitsubishi Mirage ES is the cheapest new car of 2024. (iStock) New Car The purchase price is cheaper, That’s down from record highs during the pandemic, and drivers now have some leeway when choosing which car to buy. Cars.com recently released its list of the cheapest new cars available. It has been launched in […]
Gas prices dropped by more than they have all year as after-holiday demand dips
Gasoline prices continue to fall as demand levels out after the holiday weekend. (iStock) Gas prices fell an average of 5 cents this week, meaning consumers are paying less at the pump. AAA Report Found this: The average price of a gallon of gas is currently $3.56. The drop this week was the largest in […]
Mortgage rates tick up as Fed signals delay on interest rate cuts: Freddie Mac
Home buyers saw borrowing costs rise again last week. (iStock) After weeks of declines, mortgage rates reversed course this week, rising back above 7%, according to Freddie Mac. According to Freddie Mac’s latest report, the average 30-year fixed-rate mortgage for the week ending May 30 was 7.03%. Primary mortgage market researchThat’s up from an average […]
Q1 GDP revised down on lackluster consumer spending
Consumer spending is slowing, dragging down the economy. (iStock) of Second estimate According to the Bureau of Economic Analysis (BEA), the forecast for real gross domestic product (GDP) for the first quarter of 2024 has been revised downward due to a larger-than-expected decline in consumer spending. BEA’s second estimate showed real GDP grew at an […]