Persistent layoffs are slowing momentum in the labor market, which bodes poorly for the broader U.S. recovery as millions of out-of-work Americans delay their mortgage and rent payments. More than 6 million households failed to make their rent or mortgage...
And that means they're missing out on a key opportunity to end up with more money for their senior years. Social Security won't cover all of your bills in retirement. You can expect those benefits to replace about 40% of...
Kyle and Sara Sutton have been “looking aggressively” for a three- or four-bedroom, two-bath home in Grand Rapids, Mich. since April. Though they’ve made offers on five houses so far — even one without those much-coveted two bathrooms — they’ve...
Mortgage rates keep falling, yet many homeowners are still sitting on the sidelines waiting to refinance. Rates have been dropping steadily since the coronavirus crisis began, spurring a refinancing boom. According to mortgage data firm Black Knight, servicers originated more...
Just $1.4 billion of loans have been issued amid onerous terms Small take-up could stall economic recovery, support for jobs It was billed as a lifeline for America’s middle-market companies seeking cash to get through the pandemic. Yet more than...
With apologies to Sesame Street, the U.S. economy has emerged from six months of the COVID-19 pandemic looking a lot like the letter "K." On one end of the economy are businesses that are soaring, as we abandoned offices and...
Thursday’s European Central Bank meeting should be anything but dull: the euro is surging, inflation is negative for the first time since 2016 and there is heightened uncertainty about the coronavirus as the number of new cases edges higher. No...
Traditional recruiters of business school graduates are nowhere to be found this fall, while a few tech companies are emerging with offers Business school students are bracing for an uncertain job market this coming school year as many traditional corporate...
32 states had received federal approval to offer an extra $300 a week in unemployment benefits as of 12 noon ET on Wednesday. About 5.5 million workers are currently receiving unemployment insurance or Pandemic Unemployment Assistance in the states that...
A new refinancing fee previously set to go into effect in September will be delayed, a window of opportunity for many homeowners who want to take advantage of mortgage rates near historic lows. The new 0.5% mortgage refinance fee won’t...
With back-to-school season right around the corner, many parents are contemplating whether to send their children back to school or keep them at home due to the health risks of the coronavirus pandemic. And for parents who choose to keep...
Home sales soared in July, continuing a stunning rebound buoyed in part by buyers seeking a more comfortable home in the midst of the coronavirus pandemic. Home sales jumped 24.7% from the month before, according to the National Association of...
With mortgage rates still at historic lows, it may seem like a good time to refinance. Starting September 1, however, the cost of refinancing a mortgage is going up due to economic risks associated with Covid-19. Both Freddie Mac and...
Average retirement savings account balances rose in the second quarter despite pandemic fears, according to Fidelity Investments. The increase in retirement nest eggs — mainly in 401(k) accounts and IRAs — occurred due to gains by the stock market and...
Treasury announces quarterly refunding of longer-term debt Nominal coupon issuance to climb $132 billion over quarter The U.S. government will push its fundraising to new extremes this quarter to cope with a budget deficit unseen since the country mobilized to...
