Feds raise key interest rate to highest level in 16 years
The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years.
The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years.
Here’s why consumers' credit scores got a boost in March: Report
Consumer credit scores increased from last year to an average of 701, and the percentage of consumers scored in the subprime credit
Consumer credit scores increased from last year to an average of 701, and the percentage of consumers scored in the subprime credit
Bank deposits fell by more than $76 billion
Bank deposits fell by $76.2 billion in April, following the highly publicized closures of Silicon Valley Bank (SVB) and other tech-focused financial institutions. Moreover, high interest rates continue to put pressure on both banks and consumers.
Bank deposits fell by $76.2 billion in April, following the highly publicized closures of Silicon Valley Bank (SVB) and other tech-focused financial institutions. Moreover, high interest rates continue to put pressure on both banks and consumers.
Biden asks student loan companies to prepare for end to payment pause
The Education Department has notified student loan servicers to prepare for an end to the COVID-19 student loan payment pause.
The Education Department has notified student loan servicers to prepare for an end to the COVID-19 student loan payment pause.
First Republic Bank seized by regulators, sold to JPMorgan Chase
San Francisco-based First Republic is the third midsize bank to fail in two months and is the second-biggest bank failure in U.S. history.
San Francisco-based First Republic is the third midsize bank to fail in two months and is the second-biggest bank failure in U.S. history.
Former Apple employee ordered to serve jail time, pay restitution for fleecing the company
Dhirendra Prasad’s sentencing for two charges — conspiracy to commit mail fraud and wire fraud and conspiracy to defraud the U.S. — stemmed from an alleged plot that lost Apple over $17 million.
Dhirendra Prasad’s sentencing for two charges — conspiracy to commit mail fraud and wire fraud and conspiracy to defraud the U.S. — stemmed from an alleged plot that lost Apple over $17 million.
Zimbabwe launching a gold-backed digital currency
The digital push is an effort to stem the hyperinflation of the Zimbabwean dollar.
The digital push is an effort to stem the hyperinflation of the Zimbabwean dollar.
73% of American Millennials living paycheck-to-paycheck, financial report shows
Faced with high prices and interest rates, consumers have begun reining in their spending.
Faced with high prices and interest rates, consumers have begun reining in their spending.
Gas prices dip, offering consumers some relief at the pump: AAA
The national average cost for a gallon of gas dropped by five cents from last week to $3.68, reflecting a dip in oil prices, AAA said.
The national average cost for a gallon of gas dropped by five cents from last week to $3.68, reflecting a dip in oil prices, AAA said.
Engagement ring sales fall sharply – blame COVID, jewelry giant says
Pandemic lockdowns ended many early relationships and led to a dramatic decline in dating overall, resulting in “the engagement gap that we’re still seeing today," industry executives said.
Pandemic lockdowns ended many early relationships and led to a dramatic decline in dating overall, resulting in “the engagement gap that we’re still seeing today," industry executives said.
Knowing how insurance rates are calculated could save drivers money: survey
Roughly 80% of American drivers surveyed can't identify the factors used to determine car insurance rate, a survey by the Zebra said. This knowledge gap could be costing them on their auto insurance premiums.
Roughly 80% of American drivers surveyed can't identify the factors used to determine car insurance rate, a survey by the Zebra said. This knowledge gap could be costing them on their auto insurance premiums.
These are the cities you can earn six figures in and still be broke
A new study found that in 16 of the 100 largest U.S. metros, a family of three earning a $100,000 annual income would spend more on the basics than what they earn. California cities made up half of the list.
A new study found that in 16 of the 100 largest U.S. metros, a family of three earning a $100,000 annual income would spend more on the basics than what they earn. California cities made up half of the list.
Supreme Court allows $6 billion in payments to continue in student loan relief case
The Supreme Court of the United States (SCOTUS) has declined to block a $6 billion student loan settlement involving more than 200,000 students who accused their schools of fraudulent activity. But not all borrowers qualify for relief. Here’s what you need to know.
The Supreme Court of the United States (SCOTUS) has declined to block a $6 billion student loan settlement involving more than 200,000 students who accused their schools of fraudulent activity. But not all borrowers qualify for relief. Here’s what you need to know.
Virginia's treasury flooded with unclaimed money requests, thanks to TikTok
The existence of unclaimed property websites is nothing new but a recent TikTok trend telling people how to claim their share of millions is likely leading to Virginia's Treasury paying out more claims than ever before.
The existence of unclaimed property websites is nothing new but a recent TikTok trend telling people how to claim their share of millions is likely leading to Virginia's Treasury paying out more claims than ever before.
Today's best mortgage rate? 15-year terms remain steady at 5.625 percent | April 24, 2023
Check out the mortgage rates for April 24, 2023, which are mixed from last Friday.
Check out the mortgage rates for April 24, 2023, which are mixed from last Friday.
Mortgage rates rise, add to affordability issues
The average rate for a 30-year fixed-rate increased to 6.39%. Higher rates and low housing supply is putting affordability constraints on would-be homebuyers. But there are still ways to find the best rate.
The average rate for a 30-year fixed-rate increased to 6.39%. Higher rates and low housing supply is putting affordability constraints on would-be homebuyers. But there are still ways to find the best rate.
Home price growth continues to slow down: Fannie Mae
Home prices increased by 4.7% year-over-year in Q1 2023. However, that marked a significant slowdown from annual growth in the previous quarter. Still, low home supply and high mortgage rates have raised affordability issues for potential home buyers. Here’s what you need to know.
Home prices increased by 4.7% year-over-year in Q1 2023. However, that marked a significant slowdown from annual growth in the previous quarter. Still, low home supply and high mortgage rates have raised affordability issues for potential home buyers. Here’s what you need to know.
US workers now expect almost a $76,000 salary to start a new job, data shows
Meanwhile, American women expect far less than men when it comes to salary in a new job offer, according to the new Federal Reserve data.
Meanwhile, American women expect far less than men when it comes to salary in a new job offer, according to the new Federal Reserve data.
Negative car equity is rising: Here's how you can avoid owing more than your car is worth
The average negative equity value of auto trade-ins was $5,341 in the fourth quarter of 2022, up 29% from the previous year, according to Edmunds.
The average negative equity value of auto trade-ins was $5,341 in the fourth quarter of 2022, up 29% from the previous year, according to Edmunds.
The best time to sell your home is this week, data reveals
According to the research, the week of April 16-22 offers higher-than-average prices and a lower-than-average time on the market, while also offering a higher-than-average number of buyers.
According to the research, the week of April 16-22 offers higher-than-average prices and a lower-than-average time on the market, while also offering a higher-than-average number of buyers.