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 If you die earlier than expected as a life-only annuity policyholder, you could risk failing to recoup your premium payments to the insurance company. You can mitigate this risk by adding things like death or survivor benefits to your annuity at the start of the contract. Make sure…
Key Insights Interest rates directly affect borrowing, saving, and investing decisions. Higher rates make loans more expensive but reward savers. Mortgage payments, credit card debt, and access to credit can shift quickly. Staying informed and adjusting your strategy helps protect your financial health. American Consumer Credit Counseling (ACCC) can guide…
The S&P 500 index has long been one of the most effective wealth-building tools for everyday investors, compounding steadily over the past decade. While it hadn’t enjoyed the jaw-dropping performance of a single breakout stock like Nvidia (NVDA), the index has delivered steady growth — making it one of the simplest…
On Sept. 17, 2025, the Federal Reserve’s Federal Open Market Committee is likely to lower its benchmark interest rate, the federal funds rate, by 25 basis points (a quarter of a percentage point). Assuming that happens, it will be the first change to the federal funds rate in 2025. Inflation…
If you’ve ever stood in the checkout line at a brick-and-mortar retailer and been offered a discount on your purchase by applying for a credit card, the cashier was trying to sell you on a retail card. One version of retail credit cards are store credit cards, which are only…
While the average credit card interest rate has dropped slightly and experts muse about Fed rate cuts this fall, there’s one metric we can count on — astronomical retail card interest rates. The 2025 Bankrate Retail Cards Study reveals the average retail card APR remains above 30 percent, which is…
Almost one year ago, the U.S. economy looked like it was teetering on the edge of a recession. Hiring was faltering, unemployment was rising and annual revisions to employment tallies showed that the job market was in worse condition than previously estimated. Realizing the economy wasn’t as strong as they…
As a personal finance journalist and a credit counselor, people often ask me for credit card advice. And I’m happy to give it! But I find myself sharing the same set of basic facts because they’re helpful for so many people. And then it dawned on me: Credit cards can…
Artifical intelligence (AI) is likely to reshape our lives in as big a way as the internet did in the 1990s and smartphones did in the 2000s (scary or exciting as that may be). That means changes to your regular life and your banking life, too. You’re likely encountering AI…
Key takeaways When it comes to earning cash back on popular spending categories, such as dining and travel, the Capital One Savor Cash Rewards Credit Card and the Chase Freedom Unlimited® are both strong choices. The Capital One Savor Cash Rewards Credit Card could be a better long-term fit for…
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