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...
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...
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...
As undergraduates get ready to go back to school, any number of circumstances could set the best laid plans into a tailspin. However, if a student must withdraw from college due to Covid-19, getting any sort of tuition refund or...
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...
The age-old question: are financial advisors worth it? Deciding whether to get a financial advisor or manage your own investments is a big decision. Not everyone needs an ongoing relationship with a financial planner or investment advisor. But many investors...
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...
A broad measure of layoffs likely continued to hover just below 1.5 million last week, economists say, highlighting a labor market recovery that has lost steam as many states pause or reverse reopenings amid COVID-19 spikes. Economists surveyed by Bloomberg...
Many people found they lacked a safe, reliable source of cash when investors became concerned about the coronavirus pandemic in March. Markets were falling. Businesses were closing. A credit crunch was spreading through the markets and the economy. The only...
Mortgage applications to purchase a home were 2% lower last week than the previous week but a strong 21% higher annually. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances remained unchanged at 3.20%. However, the...
The Market Whipsaw As we keep saying, these are unprecedented times. Q1 was the worst first quarter we’ve participated in since the Great Financial Crisis in 2008, followed by the best Q2 since 1987. The S&P 500 and the Dow...
‘The investing challenge may well shift in the months ahead from riding an exceptional wave of liquidity, which lifted virtually all asset prices, to steering through a general correction in prices and complex individual nonpayments.’ That’s Mohamed El-Erian, Allianz’s chief...
Interviews reveal benefit ranges from perk to necessity Policy makers at odds about extending weekly unemployment aid In about two weeks millions of Americans could lose a crucial economic lifeline of this pandemic: $600 a week in extra federal unemployment...
