Four Ways to Save Money on Home Insurance as Rates Rise

Homeowners had to shell out more money for mortgage payments, routine maintenance and heating costs this year as quickening inflation and rising interest rates strained monthly budgets. One more bigger bill to add to that list: home insurance. Home insurance premium rates rose 9.3% from Jan. 1, 2021, through Nov. 25 on average nationwide, according […]

Home Buyers Could Soon Get $1 Million Mortgage With 3% Down Payment

To qualify for a $1 million mortgage, Americans typically have to make a down payment of at least 20% of the home’s price. Starting next year, some buyers could put as little as 3% down. The cap for home loans backed by Fannie Mae and Freddie Mac rises to $1,089,300 next year in a few […]

In Tough Housing Market, Renters Renovate Like They Own the Place

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With Student Loan Forgiveness in Legal Limbo, Scammers Pounce

A federal judge struck down President Biden’s student loan forgiveness plan on Nov. 10. The ruling is being challenged, but that hasn’t stopped scammers eager to capitalize on borrowers’ confusion and frustration. Scams targeting Americans impatient for debt forgiveness surged in the first 10 months of 2022, according to the Federal Trade Commission. The agency […]

More Americans Tap Home Equity for Financial Safety Net

As high interest rates drive up the cost of borrowing money, more people are tapping the equity in their homes. Americans took out $66 billion in home-equity lines of credit, or HELOCs, in the second quarter, a 40% increase from a year ago and the largest amount in almost three years, according to data from […]