Millions of borrowers to see student loan payments drop in July after SAVE adjustment
In July, borrowers enrolled in the SAVE plan will have their payments calculated using 5% of their income. (iStock) President Joe Biden’s Savings for Worthy Education (SAVE) plan reduced student loan payments. 153,000 borrowers. The schedule for July is Plans to further reduce payments For almost all registered borrowers. This plan determines the payment amount […]
This week’s personal loan rates edge down for 3- and 5-year loans
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$40 billion of COVID-19 aid unlocked to build affordable housing
Teachers and other essential workers will be eligible for leave under expanded affordable housing rules, according to a recent Treasury Department document. (iStock) To encourage affordable housing projects, the U.S. Treasury plans to ease state and local governments’ access to unused COVID-19 funds. According to a recent report, the department announced it would update its […]
Six moves you’re making that can ruin your credit score
Former Richmond Fed President Jeffrey Rucker shares his expectations for the March Fed meeting and reacts to new housing data. One of the most important lessons to understand about money is to maintain and protect your credit score, as it can influence many directions and decisions throughout your life. “Your credit score is one of […]
3 books that will help you better understand the stock market and how to invest your money
Joe Moglia, former CEO of TD Ameritrade, joins Kabuto: Coast to Coast to react to Sam Bankman Freed’s prison sentence and his outlook on markets and AI. The stock market can be a very difficult place for beginners. Before you start investing your money, you need to fully understand how the stock market works. Investing […]
Mortgage rates dropped this week, but mortgage applications also declined
Mortgage interest rates have dropped to 6.79% for 30-year mortgages. (iStock) Mortgage interest rates continued to decline slightly this week. Freddie Mac reported. The average interest rate on a 30-year fixed-rate mortgage was 6.79%, down from last week’s average of 6.87%. At this time last year, mortgage rates for 30-year mortgages averaged 6.35%, near the […]
Final fourth quarter GDP revised upwards as consumer spending rises
Increased consumer spending boosted U.S. economic growth in the fourth quarter. (iStock) Third and final estimate of real gross domestic product (GDP). 4th quarter of 2023 The Bureau of Economic Analysis (BEA) showed the U.S. economy grew at an annual rate of 3.4%, which was revised upward. The figure was slightly higher than BEA’s second […]
High homeowners insurance rates scaring away Florida homebuyers, other states face the same issue
Southern states such as Florida, Texas, and Oklahoma have some of the highest homeowners insurance rates in the country. (iStock) Florida is in the midst of an unprecedented insurance crisis. The state has the highest homeowners insurance rates in the country. Insurify survey results revealed. These record high interest rates are turning away potential homeowners, […]
Buying a home using retirement savings? Financial expert weighs in
Mitch Rochell, managing director at Madison Ventures Plus, argues that if Varney & Co. has a supply-side problem, anything that drives demand for housing is unwise. Nearly 1 in 10 American homeowners say they have withdrawn money from their retirement savings to cover the down payment and closing costs associated with a home purchase. A […]
Biden cancels another $6 billion in student loans, this time for public service workers
78,000 public servants are eligible for this new amnesty. (iStock) Another 78,000 public servants will be eligible for student loan forgiveness.White House workers, nurses, teachers, firefighters and many others eligible for President Biden’s $6 billion pardon recently announced. With amendments to the Public Service Loan Forgiveness (PSLF) program, workers who previously did not receive forgiveness […]