Gas and oil prices are on the rise as warm weather brings more demand
Gasoline prices are up 8 cents from last month. (iStock) With warmer weather on the horizon, gas prices are trending upward as usual. Last week the price rose to $3.15, but AAA reported. This week’s price was 8 cents higher than this time last month, but 29 cents lower than last year. “It’s like sitting […]
Mortgage rates stagnate, hobbling affordability as spring buying season looms: Freddie Mac
Mortgage rates are not rising fast enough to alleviate affordability issues. (iStock) According to Freddie Mac, mortgage rates are stable in the mid-six range and show little sign of falling. The average interest rate on a 30-year fixed-rate mortgage for the week ending February 8 was 6.64%, according to Freddie Mac’s latest research. Primary mortgage […]
House passes $78 billion tax bill expanding the child tax credit, its fate in the Senate remains to be seen
This tax bill could help lift millions of families out of poverty. (iStock) The House of Representatives recently $78 billion tax bill It would temporarily expand the child tax credit. The bill now heads to the Senate, where it has support from both Democrats and Republicans. Currently, the tax credit is $2,000 per child, but […]
Freddie Mac announces $2,500 credit for down payment assistance for very low-income families
Borrowers in Freddie Mac’s Home Possible or HFA Advantage programs are eligible for assistance. (iStock) Prospective homebuyers who make 50% or less of the area median income can now receive a $2,500 credit toward their down payment and other closing costs. recently announced freddie mac. This credit is available to buyers using Freddie Mac. Available […]
This week’s personal loan rates lower for 3- and 5-year loans
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Your tax refund could be bigger this year – here’s why
Stock Trader’s Almanac Editor-in-Chief Jeffrey Hirsch explains why February is historically a bad month for stocks and identifies some great investment opportunities in “Making Money.” Americans expecting to receive tax refund This year may bring some pleasant surprises. Taxpayers typically receive a refund if they paid too much tax because too much was withheld in […]
Social inflation causing insurance rates to jump, no end in sight for rising premiums in 2024
Insurance claims payments are becoming too high relative to insurance companies’ profits, causing social inflation. (iStock) Consumers are unlikely to see their premiums fall this year, but According to a report from Morgan Stanley. The past few years have been difficult for the insurance industry. Social inflation rose higher than traditional economic inflation. social inflation […]
12 states qualify for the IRS Direct File pilot program: Is yours one of them?
Twelve states have access to IRS filing programs designed to make filing your taxes easier. (iStock) The IRS is rolling out sweeping new changes to its tax filing system, starting a slow launch. direct file program. This program is intended to allow taxpayers to bypass expensive tax preparation software such as his TurboTax or H&R […]
FAFSA inflation fix scheduled for mid-March, delays award notification until spring
Mistakes on the FAFSA mean students may have to choose a college without knowing the cost of tuition. (iStock) The Department of Education said it would make important corrections We have changed to the new Free Application for Federal Student Aid (FAFSA) form, but this error will further delay the financial aid award schedule into […]
2023 was the hottest year on record, driving up utility costs and homeowners insurance prices
Rising temperatures could lead to more natural disasters, leading to more insurance claims and higher interest rates. (iStock) Global temperatures are rising, and last year was the hottest year on record. Copernicus Climate Change Service. As temperatures rise, so does the cost of cooling your home. Last summer, natural gas consumption reached an all-time high. […]