Is Your Credit Card Interest Rate Too High?

Credit Cards

Is Your Credit Card Interest Rate Too High?

Is Your Credit Card Interest Rate Too High?

Nobody likes paying credit card interest, and as unsecured debt, credit cards will typically have higher interest rates than other types of loans such as a mortgage or a car loan. And unlike a mortgage or a student loan, credit card interest is never tax-deductible. Therefore, it can be very important to know if your... Read More

Mortgage Rates Hit 2016 Low: Is Now the Time to Buy?

Mortgages

Mortgage Rates Hit 2016 Low: Is Now the Time to Buy?

Mortgage Rates Hit 2016 Low: Is Now the Time to Buy?

Here’s some good news for current house hunters: Mortgage rates hit a new low for the year last week. In fact, rates on a 30-year fixed mortgage are at the lowest mark since May 2013, according to the latest mortgage market survey from Freddie Mac. The 30-year fixed-rate mortgage averaged 3.58% with an average 0.5 point for the... Read More

Which of Your Bills Will Go Up If the Fed Raises Interest Rates?

Managing Debt

Which of Your Bills Will Go Up If the Fed Raises Interest Rates?

Which of Your Bills Will Go Up If the Fed Raises Interest Rates?

While the Federal Reserve declined to raise interest rates this week, interest rates are still expected to go up sometime this year, which is great news if you’ve been discouraged by the next-to-nothing interest rates banks pay on your savings. But if you have a home equity line of credit or a credit card with... Read More

What’s the Difference Between Your Student Loan’s Interest Rate & APR?

Students

What’s the Difference Between Your Student Loan’s Interest Rate & APR?

What’s the Difference Between Your Student Loan’s Interest Rate & APR?

When it comes to student loans, most people are curiously uncurious about the interest rate they’re being offered. It makes sense to some extent — after all, federal loans, which make up the majority of outstanding education debt, only offer one interest rate for each type of loan (e.g., 7.21% for Direct PLUS loans, regardless... Read More

3 Things Homebuyers Should Know, But Don’t

Mortgages

3 Things Homebuyers Should Know, But Don’t

3 Things Homebuyers Should Know, But Don’t

Buying property, no matter how many times you do it, will be among the biggest financial decisions you make. While it’s difficult to feel fully prepared for the mortgage process, you have to do as much research as possible to ensure you’re entering into an affordable loan agreement, but many homebuyers start the process surprisingly... Read More

Why the Lowest Mortgage Rate May Not Be the Best

Mortgages

Why the Lowest Mortgage Rate May Not Be the Best

Why the Lowest Mortgage Rate May Not Be the Best

Interest rate isn’t the only factor that can drive up your projected new monthly mortgage payment. Private mortgage insurance (PMI) and the term of the loan can also make a big difference in what you pay each month. So that lower interest rate loan you’ve been offered — adjusting for mortgage insurance and a shorter-term... Read More

Help! My Credit Card APR Shot Up to 27%!

Credit Cards

Help! My Credit Card APR Shot Up to 27%!

Help! My Credit Card APR Shot Up to 27%!

With years of experience coauthoring personal finance and legal books, Mary Reed knows the importance of maintaining good credit. She’s careful to pay her bills on time and avoid unnecessary debt. Recently, though, she mixed up the due date on one of her credit cards and ended up paying it one day late. No big... Read More

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