Mortgage rates creep toward 7%, straining homebuyer affordability: Freddie Mac
Homebuyers saw mortgage rates inch upward again this week. (iStock) Mortgage rates have been flat for weeks, but have edged higher this week, approaching 7% for 30-year mortgages, according to Freddie Mac. The average interest rate on a 30-year fixed-rate mortgage for the week ending Feb. 22 was 6.9%, according to Freddie Mac’s latest research. […]
After weeks of rising prices, gas prices remained steady last week: AAA
Gasoline prices and demand remained unchanged last week. (iStock) The national average gas price was steady at $3.27 this week after spiking last week. AAA report found. Gas demand is also stable, according to information from the Energy Information Administration. Production remained unchanged at 8.2 million barrels per day. Gasoline prices slumped after the announcement […]
No relief for seniors as big drop forecasted for Social Security COLA
Seniors will see a significant reduction in their Social Security COLA adjustments next year. (iStock) The number of seniors receiving Social Security benefits could rise by as much as 2.5%, an early official said, which is below the moderate rate of inflation. estimate. The Congressional Budget Office (CBO) estimate of 2.5% is slightly higher than […]
This week’s personal loan rates lower 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. Weekly updates on the latest […]
Biden cancels $1.2 billion in student loans for borrowers enrolled in SAVE
Approximately 150,000 student loan borrowers will receive an email notifying them that their debt has been cancelled. (iStock) President Joe Biden’s administration announced $1.2 billion in student loan forgiveness for eligible borrowers enrolled in the Savings for Valuable Education (SAVE) Plan, according to the White House. statement. The measure would zero out the balances of […]
1 in 5 homeowners thinking of selling in the near future: Zillow
As interest rates fall, more homeowners are considering selling. (iStock) Homebuyers have had a tough time in recent years. Number of listings hits record low. However, one in five homeowners are currently considering selling. Zillow Report said. About 21% of buyers are considering selling in the next three years, up from 15% last year, according […]
How Capital One’s acquisition of Discover could impact consumers
Portfolio Wealth Advisors President and Chief Information Officer Lee Munson talks about the expected earnings releases of major banks, the Federal Reserve’s interest rate cuts, and gives his outlook for the market this year. Following Capital One’s announcement earlier this week of its plans to acquire Discover, there are already opposing views on whether the […]
Student loan borrowers facing financial hardship may qualify for Bidenâs new round of debt relief
Borrowers with large medical debts, childcare costs, and other financial burdens are eligible for relief. (iStock) Recent Biden-Harris Administration Announcing another proposal We help borrowers deal with high-cost student loans. This round of student debt relief is intended to help students facing severe financial hardship. The proposal would provide automatic relief to borrowers deemed likely […]
Private student loan interest rates trend back down for 10-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 […]
Some student loan borrowers are boycotting payments, but the risk is high: survey
Some student loan borrowers refuse to pay off their debts, hoping to send a message to the government. (iStock) Millions of borrowers have fallen behind on student loan payments since the reopening in October, according to a recent survey, and about one in 10 expects to pressure the government to cancel outstanding debt. He is […]