Westend61/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Before signing off on an auto loan, crunch the numbers to ensure you can afford your new set of wheels. To find how much you’ll spend on interest, use an auto loan calculator, work it out yourself or talk to a lender. Factors…
Images by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways When you prepay your mortgage, you pay extra toward the loan principal. This helps you pay your loan off sooner and save money on interest. There are many ways to prepay a mortgage, including through biweekly payments, periodic extra payments or…
While the process of adding a spouse to a deed can be relatively simple, there are some tax implications that make it more complicated. Depending on how you handle the property transfer, it can affect gift taxes, capital gains taxes, and estate planning outcomes later on. State laws and ownership…
A tax refund often feels like a sudden financial windfall, offering a brief moment of relief. However, instead of treating it as a ticket for a shopping spree, consider using it as the ultimate opportunity for some financial spring cleaning. By strategically channeling your refund, you can effectively pay down…
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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…
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The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
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Key takeaways Secured loans require collateral, in the form of a valuable asset, to back the loan. Lenders may offer lower interest rates and larger loan amounts for secured loans. Common examples of secured loans are auto loans, mortgages and some types of business financing.…
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Does a Consumer Proposal Affect My Credit Score? Yes, filing a consumer proposal will affect your credit score. Your score reflects your past…
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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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Key takeaways Refinancing your current mortgage typically requires a new appraisal of the home. The refinance appraisal helps the bank determine the home’s current value, so they can define the parameters of the loan they’re willing to extend. Appraisers will consider most of the same criteria they did in your…
Jose Luis Pelaez Inc/Getty Images Key takeaways Your billing address tells credit card issuers where to send important items and provide extra security when making purchases. Checking and changing your billing address is easy and, in most cases, can be done from your credit card online account or app.…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates ticked up slightly this week, with the 30-year fixed rate averaging 6.10%, up from 6.09% 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…
Image: Getty Images; Illustration: Bankrate A mixed performance for home equity rates this week, holding near their lowest levels in about three years. The $30,000 home equity line of credit rose one basis point to 7.32%, according to Bankrate’s national survey of lenders. Meanwhile, the five-year $30,000 home equity loan…
Key takeaways A joint bank account is a bank account owned by two or more people, typically couples, family members or business partners. Everyone on the account can deposit money, withdraw money and see all transactions — no matter who put the money in originally. Joint accounts double your FDIC…
Excise taxes and sales taxes both generate government revenue, but they work in fundamentally different ways. Sales taxes apply broadly to most retail purchases at a uniform percentage rate, appearing as a line item at checkout. Excise taxes, by contrast, target specific goods, like gasoline, tobacco and alcohol, and are…
The latest Bankrate Financial Fraud Survey reveals that about 1 in 3 U.S. adults (34 percent) have experienced financial fraud or a scam in the past 12 months, since January 2024. Among them, nearly 2 in 5 (37 percent) lost money. “Financial scams today come in all shapes and sizes,…
kate_sept2004/Getty Images S&P 500 index funds allow you to invest in the Standard & Poor’s 500 Index, a collection of stocks that includes the largest and most successful companies in the U.S. The S&P 500 index has returned an average of about 10% annually over time. Here are seven of…
To identify the best lenders for mortgage refinances, Bankrate analyzed Home Mortgage Disclosure Act (HMDA) data to determine the amount of lenders’ mortgage volume that was made up of refinance mortgages in 2024, the most recent year for which data is available. At least 20% of a lender’s mortgages must…
Receiving a tax refund can feel like a sudden financial windfall, an opportunity to breathe easier and recalibrate your budget. While it is tempting to view this check as “extra” money, it is actually a strategic tool. When used wisely, this influx of cash can significantly enhance your long-term financial…
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