Prospective homebuyers will need to wait a little longer for interest rates below 6%. The average mortgage interest rate for 30-year, fixed-rate mortgages rose to 6.77% this week, Freddie Mac reported. Last week’s average was 6.64%, and a year ago, 30-year mortgages averaged even lower at 6.32%.The average interest rate…

The Biden administration’s rollout of a new system for college students and their families to access federal financial aid has prompted a government watchdog to open two new investigations into the botched overhaul. A bipartisan omnibus spending bill enacted in December 2020 included legislation aimed at reforming and streamlining the…

I have an 11-month term CD that started mid-year. When logging into my CD account there’s no 1099 available for last year. Should I pay taxes for two years?The representative at the bank claims that since my interest is paid at maturity, all tax income is due at that time.…

Married couples in or near retirement should know that the solo years, the period after one spouse passed away, usually are the most difficult period in retirement both financially and emotionally. The solo years are when most retirement plans are likely to fail or falter. The financial difficulties of the…

With home prices still unaffordable for many buyers, some homebuyers are turning to co-purchasing with those other than romantic partners, a JW Surety Bonds study found. Close to 15% of Americans have co-purchased a home with a family member or friend rather than their spouse or partners. An additional 48%…

President Joe Biden’s Administration announced $1.2 billion in student loan forgiveness for qualifying borrowers enrolled in the Saving on Valuable Education (SAVE) plan, according to a White House statement. The move will zero out the balance for roughly 153,000 borrowers enrolled in the plan who have been making at least 10…

Capital One Financial’s $35.3 billion deal for Discover Financial would create new competition for payments behemoths Visa and Mastercard, potentially helping smoothen the path for regulatory approval, analysts said. The all-stock deal announced on Monday would give Capital One access to Discover’s network of payments processing and settlement services, allowing…

At the same time, dismissed employees talk increasingly on social media about how companies could have handled things differently. “I still was given zero notice,” one woman said of her situation on TikTok. “They questioned my character,” another woman complained. Arguably, the most prominent example is Brittany C. Pietsch, who…

Washington voters will decide the fate of the state’s path-breaking public long-term care insurance program in a referendum this Fall. If adopted, Initiative 2124 would make participation in the Washington Cares program voluntary, effectively killing it. The effort, largely bankrolled by hedge fund manager Brian Heywood and backed by prominent…

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