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Here are key steps to file a homeowners insurance claim after a natural disaster, experts say

It’s crucial to understand how to file a homeowners insurance claim after a natural disaster. Insured losses alone for Hurricane Helene are now estimated at more than $6 billion. Meanwhile, analysts anticipate that Hurricane Milton could be a “once-in-a-century” storm with the potential to generate record-breaking damage when it makes landfall along Florida’s west coast […]

Fed Vice Chair Jefferson: Sept rate cut was ‘timely’

The Federal Reserve’s 50-basis-point interest-rate cut last month was “timely” and was neither reactive, nor proactive, Fed Vice Chair Philip Jefferson said on Tuesday. “It was timely and consistent” with the Fed’s two mandates of attaining 2% inflation and maximum employment, Jefferson said at Davidson College in North Carolina. The Fed’s success in meeting the […]

Is now a good time to refinance your mortgage?

After two and a half years of slogging through higher interest rates in an effort to throttle back inflation, the cycle is reversing. The Federal Reserve lowered its key interest rate by 0.50% at its meeting on Sept. 18. However, the federal funds rate is not the only driver of mortgage rates. Will home loan […]

How much of your paycheck should you save?

Whether it’s a small emergency like a flat tire or a major one like traveling to care for an ill family member, life will inevitably throw some financial hurdles your way. Building an emergency fund and setting aside money for the future is critical, but how much of your paycheck should you save? In general, […]

Bill to boost Social Security for public workers heads to a vote

Eileen Kleinman always thought it was unfair her working as a Cincinnati, Ohio school teacher meant her Social Security would be reduced when she retired. However, that might be changing. Last week, the bipartisan Social Security Fairness Act secured enough support to force a House vote. The Act would repeal the Windfall Elimination Provision (WEP) […]

Mortgage applications hit 2-year high as refinancings surge

Mortgage applications have jumped to the highest levels since July 2022, driven by homeowners seeking to refinance their loans as rates drop. Applications to refinance or purchase a home in the week that ended Sept. 20 rose 11% week over week, according to the Mortgage Bankers Association (MBA). Refinancing applications jumped 20% during that period […]

Stock market today: Stocks hold steady as world awaits Fed decision

Stocks finished close to where they started Tuesday as investors expressed uncertainty over the size of the Federal Reserve’s expected rate cut, which is scheduled to be announced Wednesday at the conclusion of the widely anticipated policy meeting. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) lost about 0.2%, reversing momentum from […]

What a Fed rate cut would mean for bank accounts, CDs, loans, and credit cards

This is the economic U-turn we’ve been waiting for. The Federal Reserve is expected to begin lowering interest rates Wednesday. It’s been a long time coming. After inflation peaked at 9.1% in June 2022, the Fed worked to tame consumer prices with 11 interest rate hikes over the ensuing months. Rates have remained unchanged since […]

The Fed backpedals and unveils a scaled-back proposal for bank capital requirements

The Federal Reserve unveiled plans that would massively scale back a proposal to raise capital requirements for banks after politicians and the banking industry pushed back on the initial plan, warning it could restrict lending and hurt the economy. The new proposal would increase capital levels for big banks like JPMorgan Chase (JPM) and Bank […]

A new era of easy money dawns as Fed nears first rate cut since 2020

The Federal Reserve is nearing the end of an era as the central bank looks to cut interest rates for the first time in four years. If the Fed eases monetary policy at its next meeting on Sept. 18 as expected, it will officially mark the termination of the most aggressive inflation-fighting campaign since the […]

What investors are getting wrong about the VIX right now

Thursday marks the one-month anniversary of the Aug. 5 “yen shock” — a mini-market panic that quickly spread throughout global markets after beginning in Japan the Monday following the July jobs report. The Nikkei stock index (^N225) hemorrhaged 12% that Monday — its biggest one-day drop since 1987 — while the S&P 500 (^GSPC) plummeted […]

Survey Finds 46% Of Middle-Class Workers Are Halting Or Cutting Their Retirement Contributions Due To Relentless Rise In Cost Of Living

Being a middle-class worker in America is tough, especially when planning for retirement. With inflation eating away at every dollar, nearly half middle-income earners are finding themselves in a bind, cutting back or even stopping their retirement contributions altogether. A recent Primerica survey revealed that 46% of these workers are struggling to keep their retirement […]

‘T-Bill and Chill’ Is a Hard Habit for Investors to Break

It’s been the ultimate no-brainer for more than a year: Park your money in super-safe Treasury bills, earn yields of more than 5%, rinse and repeat. Or as billionaire bond investor Jeffrey Gundlach put it last October, “T-bill and chill.” Even now, with Federal Reserve officials poised to ease benchmark interest rates from a two-decade […]

Housing market showing glimmers of hope amid grim reports

There are glimmers of hope in the U.S. housing market, and ambitious buyers might finally find what they’re looking for in coming months, according to reports released Thursday. To be sure, the reports look pretty grim. Sales of previously-owned homes made almost no progress, the National Association of Realtors said, gaining only 1.3% in July […]