Here’s how much you need to earn to afford a home today
The average American earns far less than what is needed to buy a home in today’s market. (iStock) According to a recent report, to buy a home today, households must have sufficient income and have a sizable down payment saved. Based on current 30-year mortgage rates of 7.22%, today’s homebuyers would need an annual income […]
Prices at the pump dropped four cents this week due to low oil costs
Gasoline prices remained low due to a slight increase in demand. (iStock) Gasoline prices continued to fall, dropping 4 cents to $3.60 per gallon. AAA Weekly Price Report found. This week’s average is still 7 cents higher than this time last year. Weak driver demand led to lower gasoline prices. Demand rose slightly to 8.87 […]
Mortgage rates dip lower on positive inflation news, hold at near 7%: Freddie Mac
Buyers in the market saw borrowing costs fall slightly this week. (iStock) Mortgage rates rose above 7% again this week, but Freddie Mac said April’s inflation numbers were a promising step toward relief. The average interest rate on a 30-year fixed-rate mortgage for the week ending May 16 was 7.02%, according to Freddie Mac’s latest […]
April inflation eases slightly, but 2% target still out of reach
Lower food prices offset higher energy costs in April. (iStock) Statistics show consumer prices rose more slowly than expected in April, but remained above last year’s levels. consumer price index (CPI) Published by the Bureau of Labor Statistics (BLS). On an annualized basis, prices rose 3.4% in April, slowing slightly from the previous month’s 3.5% […]
This week’s personal loan rates rise for 3- and 5-year terms
Here 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 finances. We promote the products of financial institutions we work with in exchange for our services, but all opinions are our own. Weekly updates on the latest […]
A large percentage of first-generation students have been impacted by FAFSA challenges
This year, nearly half of first-generation students failed to complete the FAFSA. (iStock) The new FAFSA development hasn’t been smooth sailing. Parents and students had trouble accessing the forms. Some students also had their income misreported, reducing support to students who needed it most. Approximately 47% of first-generation students fail to complete the FAFSA. Study.com […]
Tax refund, IRS, file | Fox Business
“Kudlow” panelists Jason Trennato and EJ Antoni discuss slowing growth as inflation continues under President Biden. The clock is ticking for Americans to file for their 2020 tax refunds as the May 17 deadline approaches. Approximately 1 million people have failed to apply, leaving the IRS with a total of more than $1 billion worth […]
Private student loan interest rates fall for 5-year loans
Here 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 finances. We promote the products of financial institutions we work with in exchange for our services, but all opinions are our own. The latest private student loan […]
Texas judge stops Biden Administration rule that caps credit card late fees at $8
Biden’s $8 limit on credit card late fees was blocked by a Trump-appointed judge. (iStock) The Biden administration is Limit “junk fees” Credit card companies and other companies charge consumer fees. One of these rules limits credit card companies from charging late fees. The rule would reduce the average late payment fee for credit cards […]
$3 million may be paid to private student loan borrowers ignored by servicer – Here’s who is impacted
Private student loan borrowers may receive compensation if their requests are ignored. (iStock) National College Student Loan Trusts (NCSLT) and loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA) will provide $3 million in compensation to student loan borrowers whose payment relief requests, including during the COVID-19 national emergency, were ignored. You may have to pay […]