Fed interest rate cuts won’t help your credit card debt
Former CEO of the Federal Reserve Bank of St. Louis James Bullard discusses interest rate cuts and the labor market on “The Craman Countdown.” Wall Street and Main Street are poised to usher in the fall with the first interest rate cut since March 2020, when the COVID-19 pandemic began, raising hopes of lower borrowing […]
Supreme Court blocks President Biden’s SAVE plan again
Millions of SAVE Plan borrowers are in forbearance as the legal battle continues. (iStock ) The Supreme Court on Wednesday rejected President Biden's request to reinstate the government-created SAVE Plan, which allows student loan borrowers to reduce their monthly payments. Lower courts blocked the plan earlier in the summer after Republican-led states filed suit. The […]
The US added 818,000 fewer jobs this year than originally estimated
The labor market was less strong than expected, with employment falling by 818,000. (iStock ) of The U.S. Bureau of Labor Statistics recently The U.S. saw 818,000 fewer payrolls over the past 12 months (through March) than previously expected. The -0.5% difference was reported in the provisional estimates for the annual revision of the BLS […]
What net worth does one need to be rich in 2024? Here’s what Americans think
Republican pollster Lee Carter and former Pennsylvania Congressman Patrick Murphy discuss whether the current state of the economy is to Trump’s advantage on the campaign trail at Cavuto: Coast to Coast. It takes a lot more to be considered wealthy In the United States New data shows that more tourists are visiting this year than […]
This week’s personal loan rates rise for 3-year terms, while 5-year terms fall
We provide weekly updates on the latest trends in personal loan interest rates from the Credible marketplace. (iStock) High credit rating borrowers Personal Loans Pre-approved rates in the past seven days were higher for three-year loans and lower for five-year loans compared to fixed-rate loans in the seven days prior to that. For borrowers with […]
Biden asks Supreme Court to lift block on student loan repayment plan
Student loan borrowers enrolled in SAVE will not have to make payments while the court decides the fate of the program. (iStock) President Joe Biden’s administration is heading to the Supreme Court Unblocking the Savings for a Valuable Education (SAVE) programThis is intended to ease the burden of student loan debt for millions of borrowers. […]
July inflation drops below 3% as Fed considers September rate cut
Housing costs remain high, but insurance premiums are finally starting to stabilize. (iStock) Annual inflation fell below 3% in July for the first time in more than three years. Consumer Price Index The Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS). On an annualized basis, prices rose 2.9% in July, slowing […]
Private student loan interest rates fall for 5-year terms, rise for 10-year terms
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 financial situation. While we promote products from partner financial institutions from whom we receive compensation for our services, all opinions are our own. The latest private student loan […]
Today's 15- and 30-year mortgage rates hold at lowest level in over a year | August 13, 2024
As of August 13, the median interest rate for a 30-year fixed rate mortgage is 6.490%, unchanged from yesterday, and the median interest rate for a 15-year fixed rate mortgage is 5.625%, also unchanged from yesterday. Analysts expect lower interest rates are on the way. The Federal Reserve Cuts could be considered in September. Mortgage […]
Mortgage rates average 6.43% this week, the lowest in a year
Weak employment statistics also contributed to the decline in interest rates. (iStock) Mortgage rates fell sharply this week, reaching their lowest levels in more than a year. According to Freddie MacThe average interest rate on a 30-year fixed-rate mortgage is 6.47%, down from 6.73% last week. “Mortgage rates plummeted to their lowest level in more […]