Key takeaways CD early withdrawal penalties typically cost 60 to 365 days of interest, with longer terms carrying steeper penalties. Breaking a CD early may be worth it if you need funds to avoid high-interest debt, make a major down payment, or lock in significantly higher rates. CD early withdrawal…
Key takeaways The Federal Reserve’s decisions significantly impact the economy, influencing borrowing costs for consumers, the job market and inflation. The Fed’s monetary policy has shifted significantly over the years, from combating high inflation in the 1980s to dealing with recessions and financial crises in the 2000s and 2010s. The…
Key takeaways The Federal Reserve sets interest rates for banks to borrow from each other, which in turn sets interest rates for business loans and lines of credit. The Fed’s rate sets the pace for borrowing costs, making it easier or harder for businesses to get approved for loans. The…
Key takeaways Your credit card APR can go up if the prime rate changes, you paid your credit card bill late, your intro APR offer ended or your credit score dropped. If your APR increases, you can work on paying down your balance or transfer your balance to a card…
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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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Key takeaways There are several ways to finance home renovations, including renovation mortgages, home equity loans and personal loans. Borrowing makes the most sense when repairs are urgent or when improvements will increase your home’s value. Compare loan options carefully, considering interest rates, fees and…
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2. Coaching and Tutoring Take stock of your areas of expertise – maybe you speak a second language or solving math equations comes…
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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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After two years of cheaper deals and better prices, holiday shoppers may have to reach deeper into their wallets again this season, as inflation makes an unwelcome return to many of the items households buy this time of year. More than 3 in 4 holiday staples (78%) have gotten more…
Image: Getty Images; Illustration: Bankrate Home equity rates were unchanged in the latest week, holding at their lowest point in two years. The $30,000 home equity line of credit stayed at 7.81%, according to Bankrate’s national survey of lenders. Meanwhile, the benchmark five-year $30,000 home equity loan also didn’t budge,…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates jumped higher this week, with the 30-year fixed rate averaging 6.37%, up from 6.29% the previous 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…
At a time of sticky inflation and a softening job market, extra money in the bank can serve as a lifeline for many consumers. Yet 8 in 10 Americans did not increase their emergency savings this year, a new Bankrate survey found, leaving them in no better financial position to…
Key Takeaways: Transition Challenges: Veterans face unique financial challenges when transitioning from military to civilian life, including employment hurdles, healthcare costs, and housing instability. Employment and Economic Stability: Despite strong leadership skills, veterans often encounter unemployment or underemployment due to skill mismatches. Support from programs like VETS and the GI…
Key takeaways Most unemployment payment delays happen due to missing information, fraud checks, or system backlogs. You can often fix the issue by verifying your ID, submitting missing documentation, or updating your payment profile. While you wait, contact lenders to negotiate temporary relief and use savings accounts or short-term loans…
Good news for those looking for more affordable housing: Rents keep falling. In October, rents fell for the 27th straight month year-over-year and the third consecutive month-over-month according to Realtor.com’s October Rental Report. The median asking rent for a 0-2 bedroom property in the 50 largest U.S. metros was $1,969,…
PeopleImages/Getty Images Key takeaways CDs are among the safest places to keep your money, but early withdrawals or inflation can erode returns. FDIC or NCUA insurance protects up to $250,000 per depositor, per institution. Smart CD strategies — like laddering or using no-penalty CDs — can help you avoid losses…
Key takeaways Mobile banking is secure when you use official apps and follow best practices. Major banks invest billions in cybersecurity, but user habits still matter. With the right steps — like multi-factor authentication and strong passwords — mobile banking can be safer than visiting a branch. Mobile banking is…
Key takeaways Saving builds security, flexibility, and freedom — not just a rainy-day fund. Cash reserves protect you from financial stress and open doors to opportunity. The earlier you start saving, the easier it is to reach your life and retirement goals. Most people know they should save. But understanding…
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