Private student loan interest rates drop for 10-year loans, rise for 5-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 […]
Florida’s state-created property insurance company voted to raise homeowners insurance rates by 14%
If approved, the proposed increases would take effect in early 2025. (iStock ) More bad news is on the way for Florida homeowners. Not only are insurance companies leaving the state, but Florida’s state-created Citizens Property Insurance is also We just voted to raise interest rates by 14%. Across the state. The insurance company’s board […]
NYC steeply drops off top 10 list of home sharing destinations for July 4 as hotel rates soar: report
New York City was reportedly dropped off the top 10 list of home-sharing destinations this Independence Day after a crackdown caused hotel prices across the city to skyrocket. of AirDNA reportNew York plummeted to 54th place, down from 10th place for the two-year period 2023 and 2022, according to the research firm, which tracks Airbnb […]
Powell: 'Quite a bit of progress' on inflation, but not enough to cut rates
Federal Reserve Chairman Jerome Powell said Tuesday that “significant progress” has been made toward stabilizing prices, but the central bank needs to see improving inflation measures before cutting interest rates to stimulate the economy. “We want to have greater confidence that inflation is declining sustainably towards 2 percent before we begin the process of easing […]
Construction Spending Slips in May Amid High Interest Rates
U.S. construction spending took a hit in May as high interest rates prompted companies and homebuilders to pull back on projects. However, government spending increased slightly from the previous month. Department of Commerce report Spending on construction projects fell 0.1% to $2.1 trillion annually on Monday, missing Wall Street expectations of a 0.2% increase. Given […]
Mortgage rates trickle down, but home prices remain high: Freddie Mac
Mortgage rates didn’t fall much this week, offering no relief to buyers. (iStock) Prospective homebuyers didn’t get much reassurance about mortgage rates this week, with the average rate on a 30-year fixed-rate mortgage barely changing at 6.86% from 6.87%. Freddie Mac is. Last year, interest rates didn’t vary much, averaging 6.71% for a 30-year mortgage […]
This week’s personal loan rates fall for 3-year loans, while 5-year terms rise
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. We provide weekly updates on […]
Mortgage rates fall slightly to 6.86%
James Bullard, former president and CEO of the Federal Reserve Bank of St. Louis, looks ahead to the next interest rate decision, analyzes employment data, and reacts to Chair Yellen’s housing development policy. Mortgage rates were mixed this week, with the standard 30-year note rate declining slightly for the fourth straight week, while shorter-term rates […]
How the US national debt is keeping mortgage rates elevated
Economist Peter Morici breaks down what the national debt is, why it has ballooned to more than $34 trillion, and what it means for Americans. Home buyers in the United States Federal Reserve They are eagerly awaiting interest rate cuts that could bring relief from painfully high borrowing costs. But there’s another factor that could […]
Mortgage rates drop for third week in a row, but home buyers remain reluctant
Mortgage rates may be falling, but buyers aren’t convinced now is the right time to buy. (iStock ) There’s good news and bad news about mortgage rates this week. The good news is that rates continue their gradual downward trend, with a 30-year fixed rate mortgage averaging 6.87%. Freddie Mac is. While this is encouraging, […]