Is Your Credit Card Ready for the Holidays?

Credit Cards

Is Your Credit Card Ready for the Holidays?

Is Your Credit Card Ready for the Holidays?

Ah, September. That magical time of year when boots and open-toed shoes intermingle, mornings get crisper, people start lining up for those infernal pumpkin spice lattes and some retailers start hauling out their holiday cheer. It seems every year, some store somewhere feels the need to make the holiday shopping season just a tad bit longer. In fact, I wouldn’t... Read More

The High Cost of Ignoring Today’s Low Mortgage Rates

Mortgages

The High Cost of Ignoring Today’s Low Mortgage Rates

The High Cost of Ignoring Today’s Low Mortgage Rates

It’s no secret interest rates are the main driver of the nation’s loan volume. In the first quarter of 2016, mortgage refinances were 23.5% higher than the same quarter the year before (an eight-year high for an opening quarter). First mortgages also were about 10.3% higher than the year before, thanks to continued low interest... Read More

What Would Higher Interest Rates Mean for You?

Managing Debt

What Would Higher Interest Rates Mean for You?

What Would Higher Interest Rates Mean for You?

In recent years, we have been experiencing low interest rates and some of us may have even tuned out any of the Federal Reserve’s news and announcements. But right now, it is important to pay attention. Even if you have already heard about the coming rise in federal interest rates, you may not understand all of... Read More

Will Your Debt Payments Go Up in 2015?

Managing Debt

Will Your Debt Payments Go Up in 2015?

Will Your Debt Payments Go Up in 2015?

Interest rates are expected to go up 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 an interest rate tied to the rates set by the Federal Reserve, you... Read More

Should a 300% Interest Rate Be Legal?

Managing Debt

Should a 300% Interest Rate Be Legal?

Should a 300% Interest Rate Be Legal?

Is there anyone out there who still believes that payday lending is a respectable business? That it’s OK to charge stratospheric interest rates—often four, five or more times the amount that’s originally borrowed—to cash-strapped consumers who typically re-borrow the identical loan over and over again during the course of a year? That it’s reputable to... Read More

What the New Fed Chair Means for You

Personal Finance

What the New Fed Chair Means for You

What the New Fed Chair Means for You

The running joke about economists is that they equivocate on every question, answering always with a phrase like, “On the one hand….but on the other hand.”  So it’s only fitting that a story about the impact of Janet Yellen’s confirmation as Chairwoman of the Federal Reserve on Monday follows this time-tested formula. On the one... Read More

Auto Loan Interest Rates At All-Time Low

Auto Loans

Auto Loan Interest Rates At All-Time Low

Auto Loan Interest Rates At All-Time Low

Interest rates for new-car loans were at a record low last quarter, according to Experian Automotive. The rates fell to 4.27%, the lowest rate seen since Experian first started publicly reporting the data in 2008. Not only did interest rates go down in the third quarter, the average credit score of a new-car loan borrower... Read More

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