ljubaphoto/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways The interest rate on a mortgage indicates how much interest you’ll pay for the amount you borrow. The annual percentage rate (APR) is the interest rate plus additional fees and any points. When comparing loan offers, it’s best to compare APRs to…
Christina Zelow Lundquist/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways A cash-out refinance replaces your current mortgage with a new, bigger one. The borrower receives the difference between the two balances in cash. The terms of your refinanced mortgage might differ from your original loan, including a new interest…
Money is an uncomfortable topic for many, yet it’s an important ongoing conversation to have in a relationship. Financial secrets undermine trust. And for many, it may even feel like betrayal. More than 2 in 5 U.S. adults (43%) believe keeping financial secrets is at least as bad as physical…
Key takeaways Decisions made by the Federal Reserve to increase the benchmark rate do not directly impact auto loans but rather the cost for banks to lend. The higher the Fed sets rates, the higher auto loan rates will likely be. The Fed made its third and last rate cut…
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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 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…
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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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Key takeaways Both the Chase Freedom Rise® and the Discover it® Student Chrome are strong starter credit cards that can help students build credit while earning cash back. The Chase Freedom Rise®, while offering flat-rate rewards, provides long-term benefits such as broader redemption options and potential pathways to premium Chase…
If you need retirement funds for living expenses now, paying taxes on a Roth conversion may cost more than it saves. But, if you plan to keep the money for growth or pass it on to heirs, a conversion can help you avoid future required minimum distributions (RMDs) and provide…
Key takeaways You can cancel an annuity at no cost during the “free-look” period, but after that point it can be much harder and more costly. Some annuities have limited withdrawal provisions and most will let you cash out your investment, though there are penalties. You could also consider selling…
If it feels like your car is eating more of your paycheck than ever, you’re not imagining it — car ownership costs are rising faster than inflation. Bankrate’s latest Hidden Cost of Car Ownership Study reveals that the average driver now spends $6,894 in hidden expenses per year on their…
Retiring early is possible for many people, but it requires smart planning and reliable income sources. Dividend-paying investments offer one path by providing consistent cash flow while still allowing your portfolio to grow. By reinvesting dividends during your working years and later using them to cover living expenses, you can…
Direct deposit makes getting paid fast and easy since the money appears in your bank account automatically, without needing to go to a bank. Some banks allow you to receive direct deposits even faster — by up to two days — through early direct deposit. Early direct deposit can help…
High earners often weigh the mega backdoor Roth against the backdoor Roth to expand tax-free growth. A backdoor Roth works by making a nondeductible traditional IRA contribution and then converting it to a Roth. A mega backdoor Roth, on the other hand, uses after-tax 401(k) contributions that are later converted…
The Wells Fargo Autograph Journey℠ Card, released in March 2024, may seem like a good option with competitive rewards rates, but how does it stack up to some of the best travel credit cards on the market today? And does it deserve a place in your wallet? In this article,…
How much you can lose by retiring at 62 depends on Social Security, savings growth, and pensions. Starting Social Security at 62 usually cuts monthly benefits by 25% to 30% compared to waiting until full retirement age. Retiring early also means fewer years to save and less time for investments…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates rose this week, with the 30-year fixed rate averaging 6.39 percent, compared to 6.30 percent 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…
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