By Zach Wichter From Bankrate.com Economic uncertainty abounds right now as inflation surges and the interest rates on all kinds of financial products rise. Even so, homeowners may find that tapping their home equity through a cash-out refinance is a financially sound decision, despite the fact that doing so is costlier than it would have…
Why a Cash-Out Refinance Can Still Be a Good Idea, Even as Rates Rise
June 19, 2022
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Does Crypto Lending Affect Your Credit Score?
June 19, 2022
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Although very popular and quickly becoming mainstream, cryptocurrency is something that still seems to confuse many people. Throw in a new financial system made up of FinTech companies that provide crypto loans and other crypto-related services. Then things start getting even more confusing, which is why all efforts to unravel this new technology are essential…
How a Higher Fed Rate Affects Your Finances
June 18, 2022
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Record-low mortgages are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally see a noticeable return. The unusually large three-quarter point hike in its benchmark short-term rate that the Federal Reserve announced on June 15 won’t, by itself, have a huge effect on most Americans’…
71% of Finance Professionals Believe Their Department Is Lagging: Latest Report
June 18, 2022
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By Business Wire Nearly three-quarters (71 percent) of corporate finance professionals do not feel their teams’ platforms and tools are as strong as other departments, according to insights published in a new report from Material, commissioned by Teampay, the all-in-one purchasing platform. 93 percent want to create more efficiencies within the finance department. Released at Teampay’s Agile Finance…
Series I Bonds Pay Record 9.62% Interest Rate—Here’s How to Buy Them
By James Royal From Bankrate.com If you’re looking for an investment with a high interest rate, inflation protection and the safety of government backing, then Series I bonds could be an attractive addition to your portfolio. The interest rate on these bonds increases as inflation rises, ensuring that your payout keeps pace with rising prices…
Ditch Your Advisor If They’re Not Using This Tool
If you have met with a financial advisor, and upon concluding the meeting felt things were a bit “cookie-cutter,” you are not alone. Many advisors, particularly when it comes to risk tolerance, have a proclivity to stereotype clients based on their age. Follow-up questions often lead to classifying risk tolerance in very overused and oversimplified…
Housing Supply Squeeze Finally Begins to Ease
By Jeff Ostrowski From Bankrate.com During the record-breaking housing boom of the past two years, a drastic under-supply of homes for sale has bedeviled buyers and delighted sellers. Now, the squeeze is slowly easing—a shift that could mark the start of a much-anticipated cooling of the white-hot housing market. The abnormal conditions of the past…
The Federal Reserve Policy You’ve Never Heard of Could Have the Biggest Effect on Your Wallet
June 16, 2022
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By Sarah Foster From Bankrate.com The Federal Reserve made headlines on June 15 when it raised interest rates by the single biggest hike since 1994, but another lesser-known decision at May meeting—albeit a substantially more complex one—could have an even greater influence over how much you pay to borrow money. The Fed said in May…
How Fed Rate Hikes Could Impact Stocks, Crypto, and Other Investments
By James Royal From Bankrate.com The Federal Reserve raised interest rates at its June 14-15 meeting after hiking rates in March and May. The nation’s central bank is expected to lift the benchmark Fed funds rate by 50 basis points—one-half of a percentage point—according to the CME FedWatch tool. It’s likely not the last increase…
Mortgage Rate Forecast in June 2022: Recession Worries May Keep Rates in Check
June 14, 2022
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By Erik J. Martin From Bankrate.com Many factors are putting upward and downward pressure on mortgage rates, and prospective borrowers have observed a seesaw pattern in the cost to finance a home recently. While the benchmark 30-year rate has climbed from a 5.22 percent average a month ago, it dropped slightly in late May, backing…
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