Images by Getty Images; Illustration by Hunter Newton/Bankrate A construction loan is a short-term, high-interest loan used to finance building a home. Funds are paid out in phases over the course of construction and typically cover land, materials, contractor labor and permits. They tend to have stricter qualification requirements than…
The Federal Reserve isn’t expected to make any rate cuts at its January meeting, but its first gathering of the year still has a lot at stake for American households grappling with expensive borrowing costs, affordability challenges and a tough job market. The big question many Fed watchers are hoping…
Key takeaways A bank statement loan allows you to qualify for a mortgage using bank statements rather than pay stubs or tax returns. It’s most often used by self-employed borrowers. Not all mortgage lenders offer bank statement loans. You might need to work with a mortgage broker to find one.…
Key takeaways Mobile banking apps now offer AI-powered financial insights, biometric security, real-time fraud detection and automated savings tools beyond basic account access. According to Chase, 86% of consumers prefer to use a single app to do their banking. When selecting an app, prioritize security features, user experience and financial…
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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…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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At the end of the year, many people pause to reflect on what worked and what didn’t, especially when it comes to their finances. Year end is a perfect moment to acknowledge challenges, review your habits and create a fresh plan for the year ahead. Even if 2025 wasn’t your…
Malcolm MacGregor/Getty Images As home prices keep rising, so do conforming loan limits, the number that distinguishes the most common loan types from jumbo loans. These limits vary from year to year and by geographic area. What is the conforming loan limit? The conforming loan limit is set each year…
With investors getting increasingly anxious about the nosebleed valuations of public stocks, Goldman Sachs announced Monday morning that it’s spending $2 billion to buy Innovator Capital Management, a firm that will cushion its clients from a crash.Wheaton, Illinois-based Innovator manages $28 billion in assets, mostly in defined-outcome ETFs which use…
If you want to buy a high-priced home and need to finance most of the purchase, you’ll need a larger-than-usual mortgage: a jumbo loan. Here’s how jumbos work, and the current limits, state by state. Jumbo loans earn their title because they’re big, so big they exceed the conforming loan…
Legacy automakers will not admit it yet, but they are all heading toward the same destination: They will license Tesla’s Full Self-Driving system. When the gap widens significantly, they need to find a way to bridge it. The boardrooms know this, even if the public narrative still pretends the race…
Kevin Hassett is now the lead candidate to be nominated as the next Federal Chair according to prediction markets and media reports. Prediction markets currently give Hassett a 7 in 10 chance of receiving the nomination to replace Jerome Powell from February 2026. According to Bloomberg reporting, Trump has made…
Governance failures rarely announce themselves. They don’t begin with arguments, fines, or hearings. I didn’t expect to see these patterns in a small lakeside community governed by a Home Owners Association (HOA). Yet the familiar signs emerged. They start in the quiet corners where authority meets procedure and where small…
Year-end bonuses can provide a much-needed financial boost, and using that money wisely can make a meaningful difference in your financial health. But deciding whether to put your bonus toward paying down debt or saving can be challenging. Both options offer strong benefits, and the best choice ultimately depends on…
After a run of more than 230 years, the U.S. is done producing the penny. While the death of the little copper coin leaves many feeling nostalgic, producing it simply isn’t worth it for the U.S. Mint at 3.69 cents a pop — an increase of 1.42 cents over the…
Photo from Getty Images / Illustration by Bankrate Key takeaways Linking bank accounts makes it easier to transfer funds, automate savings, split direct deposits and potentially avoid certain fees such as overdraft or maintenance charges. Banks typically use strong security measures to protect your information when accounts are linked, including…
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