Homebuyers often focus on home prices and mortgage rates when thinking about affordability. But for millions of homeowners, another housing cost is creeping higher and quietly reshaping the math: homeowners association (HOA) fees. Once considered a small maintenance expense, HOA dues are increasingly acting like a shadow mortgage. This mandatory,…
When people begin searching for help with credit card debt, they often come across a wide range of options labeled “debt relief.” Debt settlement companies, consolidation loans, balance transfers, auto title loans, credit repair services, and bankruptcy are frequently presented as potential debt relief options. However, these alternatives work in…
Mirian Fuentes has big plans for her future. The 30-year-old Mexican-American has been dating her partner, Andres, since 2024, and knew early on that he was “the one.” The couple dreams of getting married, starting a family and buying a home — a key step toward building generational wealth as…
Images by Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Mortgages make up the highest percentage of household debt nationwide, with the average American owing $258,214. Millennials have the highest average mortgage debt at $320,027, with Gen X close behind at $286,574. The District of Columbia, California and Hawaii have…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
With Republicans ending the Grad Plus program, private lenders are eyeing billions in new business, while some students could be…
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Key takeaways Shopping around for a HELOC can help you discover the best interest rate and terms. A variety of factors can impact your overall loan cost, including prepayment penalties, origination fees, maintenance fees and minimum draw amounts. Maintaining a good credit score is one…
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Try to Offer Advice or Support Instead of Criticism While younger generations are often criticized for their lack of financial literacy, getting into…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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Most people are used to seeing sales tax on a receipt, but not every purchase includes it. When it doesn’t, you may still owe tax on that purchase through what’s called a use tax. This comes up most often with online shopping, out-of-state purchases and private sales. Understanding the difference…
Key takeaways Down payment amounts vary widely depending on home prices and loan types. They can range from less than $10,000 to $200,000 or more. Most housing market data focuses on the median down payment, rather than the average, because it’s a better measure of what the typical borrower contributes.…
Spring is the season for renewal, a perfect time to perform a “deep clean” of your financial profile. While March marks National Credit Education Month, the real goal is gaining the freedom that comes with a top-tier credit rating. Whether you’re planning to buy a home, finance a car, or…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates moved up again this week, with the 30-year fixed rate averaging 6.19%, up from 6.15% last week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low…
Debt settlement companies technically aren’t allowed to charge fees until after lowering a consumer’s debt. But a loophole in the Telemarketing Sales Rule — and a mish-mash of federal and state laws — allows predatory firms the opportunity for exploitation. A growing corner of the $23 billion debt relief industry…
Image: Getty Images; Illustration: Bankrate No movement for home equity rates in the latest week. The $30,000 home equity line and the five-year $30,000 home equity loan were unchanged, holding at 7.18% and 7.84%, respectively, according to Bankrate’s national survey of lenders. As home equity rates remain at their lowest…
Did you know? According to the Federal Reserve Bank of New York, in the last quarter of 2025, credit card balances increased to $1.28 trillion among Americans? That is $44 billion more than the previous quarter. The challenging economic conditions make it even harder for an average individual to survive…
Key takeaways Buying a second home will effectively double your housing expenses, so consider your overall financial picture carefully first. If you plan to rent out the home to offset some of the cost, be sure to research local regulations and tax implications. If you plan to vacation there, make…
Key takeaways Interest can be charged when you borrow money or earned when you save. When you charge something on a credit card or take out a loan from a financial institution (student loan, auto loan, mortgage, etc.), you’re charged interest for borrowing that money. You can also earn interest…
While buy-to-let real estate can generate steady cash flow and long-term appreciation, it also introduces specific tax rules, reporting requirements and potential liabilities. Rental income is generally taxable, but investors may qualify for deductions that reduce their overall tax burden. These can include expenses like mortgage interest, maintenance, depreciation and…
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