Key takeaways Refinancing your current mortgage typically requires a new appraisal of the home. The refinance appraisal helps the bank determine the home’s current value, so they can define the parameters of the loan they’re willing to extend. Appraisers will consider most of the same criteria they did in your…
Image: Getty Images; Illustration: Bankrate A mixed performance for home equity rates this week, holding near their lowest levels in about three years. The $30,000 home equity line of credit rose one basis point to 7.32%, according to Bankrate’s national survey of lenders. Meanwhile, the five-year $30,000 home equity loan…
Key takeaways A joint bank account is a bank account owned by two or more people, typically couples, family members or business partners. Everyone on the account can deposit money, withdraw money and see all transactions — no matter who put the money in originally. Joint accounts double your FDIC…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates ticked up slightly this week, with the 30-year fixed rate averaging 6.10%, up from 6.09% last week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
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The Standard & Poor’s 500 index, or S&P 500, is perhaps the world’s most well-known stock index. The index contains 500 of the largest publicly traded companies in the U.S., making it a bellwether for stocks. It includes stocks across all 11 sectors of the…
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When you’re ready to get out of debt, you can either go it alone or work with a professional debt relief company. The…
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OBSERVATIONS FROM THE FINTECH SNARK TANKBankers wants to discuss AI strategy. They’re excited about chatbots, machine learning models, generative AI tools, and AI…
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Imagine turning a single $400,000 investment into a steady monthly paycheck that lasts the rest of your life. For many retirees, that kind of predictable income can feel like a financial safety net in an otherwise uncertain retirement landscape. Annuities provide exactly that, but the amount of income they generate,…
An individual retirement account (IRA) can be a significant estate asset. How the account is handled depends on whether a beneficiary is named, who that beneficiary is and which distribution rules apply at the time of death. These factors affect how and when the account is distributed, how withdrawals are…
Debt relief scams offer to help relieve you of debt, but do not deliver on what they promise. They commonly target those with high debt amounts or poor credit scores. Legitimate debt relief companies are out there to help with debt consolidation and settlement. Here are eight red flags to…
Landing in a higher tax bracket can feel like a penalty for earning more, but it doesn’t have to be inevitable. With the right strategies, you may be able to reduce your taxable income and limit how much of your earnings are exposed to higher tax rates. Smart tax planning…
Co-signing a mortgage can affect your taxes in several ways, depending on the loan’s structure and the property’s use. In general, being a co-signer does not automatically give you the right to claim mortgage interest or property tax deductions. Those tax benefits typically belong to the person who actually pays…
We’ve all heard that money is a leading cause of friction in relationships, but it’s rarely just about the math. It’s about what that money represents: security, freedom, power, or even fear. How we manage money, create financial goals, and communicate about financial matters can significantly affect the health and…
Image: Getty Images; Illustration: Bankrate Home equity rates fell this week, reaching their lowest levels in about three years. The $30,000 home equity line of credit fell one basis point to 7.31%, according to Bankrate’s national survey of lenders. Meanwhile, the five-year $30,000 home equity loan fell three basis points…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates fell again this week, with the 30-year fixed rate averaging 6.09%, down from 6.16% last week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year…
Traditionally, all tip income was taxable, and workers had to report any cash tips exceeding $20 per month to their employer. But in 2025, the One Big Beautiful Bill introduced temporary exemptions: individuals can deduct up to $25,000 in tips from their income if they meet all the qualifications (though…
Under the One Big Beautiful Bill Act of 2025, the mortgage interest deduction limits established by the Tax Cuts and Jobs Act were made permanent. For loans taken out after December 15, 2017, taxpayers may deduct interest on up to $750,000 of combined mortgage debt across primary and secondary residences. Mortgages…
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