Posts

The average rate offered to homebuyers using a conventional 30-year fixed mortgage fell to 4.29% from 4.40% the previous business day, moving away from its recent peak of 4.41%, the highest it had been since 2020. The average for a 15-year fixed mortgage fell to 3.45% from 3.55% the previous business day. Twice in February it reached 3.56%, also the highest since 2020. Fixed mortgage rates tend to track the direction of 10-year Treasury yields, which usually rise with heightened inflation fears (and fall when those fears subside)....

The average rate offered to homebuyers using a conventional 30-year fixed mortgage rose to 4.83% from 4.77% the previous business day, it’s highest in over two years and 0.67 percentage points higher than at the start of March. The average for a 15-year fixed mortgage, on the other hand, fell to 3.88% from 3.93% the previous business day, reversing course to fall further away from its 2020 high of 3....

The average rate offered for a conventional 30-year fixed mortgage fell to 5.45% from 5.52% the previous business day, while the average 15-year rate declined to 4.45% from 4.55% the previous business day. Last month both reached their highest points since at least 2019, and likely much farther back: 6.19% and 5.26%, respectively. Now they’re the lowest they’ve been since early April, before those peaks. (Our daily mortgage rate data only goes back to April 2021, but our data on yearly highs and lows date back to 2020, so we know the recent peaks were the highest since at least 2019, and if other measures are any indicator, may have been the highest in over a decade....

Identifying a Double Top A double top occurs when the price reaches a high point, retraces, rallies back to a similar high point, and then declines again. The low point of the retracement between the two peaks is marked with a horizontal line. This line, when extended out to the right, is useful for trading and analyzing the double topping market. Identifying a Triple Top A triple top occurs when the price peaks, retraces, rallies to a similar peak, retraces, rallies to a similar high again then declines again....

Learn more about how minimum account balance requirements work, why banks have them, and what you can expect from major U.S. banks when you open a traditional savings account. How Minimum Account Balances Work A minimum account balance is the least amount of money a financial institution requires you to keep in a specific account. Many banks require a minimum deposit when opening a savings account. Banks impose a monthly service fee that can be waived if you maintain a minimum account balance....

These cards are often interchangeable with credit cards, but they are not exactly the same. Let’s explore the distinctions between them, along with the best uses for each card. ATM Cards Automated Teller Machine (ATM) cards are the simplest cards. They are offered by banks and some credit unions and are primarily used to withdraw cash and make basic banking transactions at ATMs located in many places. Most issuers will charge a user fee if the card is used to withdraw funds from a different bank....

Whether a particular asset you own at the time of your death must be probated depends on what type of ownership you have and how the property is titled. Individual Ownership If you own an asset in your sole name without any joint owners who hold rights of survivorship, the asset will require probate when you die. No one will have the legal authority to access the account or transfer the property to a living owner after your death—only you can do this and now you’re gone....

Joint ownership comes in three forms: with rights of survivorship, as community property, and as tenants in common. Sometimes people enter into a joint ownership agreement as a way to afford a property they could not otherwise buy. Still, it’s important to understand that this has an impact on others and can complicate who gets the right to the property when one of the owners dies. Let’s look at the various forms of ownership and the implications of each....

When the number of new jobless claims plunged in November to the lowest levels since 1969, economists took the news with a grain of salt. After all, they knew figures can be fluky around the holidays due to the way the department adjusts the numbers to account for seasonal patterns. But claims have stayed low for several straight weeks now, adding to evidence that it’s workers, not jobs, that are in short supply, even amid a winter spike in COVID-19 cases brought about by the virus’ omicron variant....

Calculating the DuPont Model for either the return on investment (ROI) or the return on equity (ROE) for an investment or a business enterprise involves several steps. Calculate Dupont for ROI When analyzing an investment or a business you should start by first, looking at the company’s ROI. This is also known as the Return on Assets (ROA) ratio. This ratio tells you how efficiently you have been using your asset base to generate sales....

Some states offer Uniform Gift to Minors Act (UGMA) accounts and other states offer Uniform Transfer to Minors Act accounts (UTMA). Although these accounts are very similar, the type of assets you can contribute to the account and the age at which the beneficiary can access the account may differ. How UGMA and UTMA Accounts Work In 2022, the first $1,150 in a UGMA or UTMA was considered tax-free, and the next $1,150 was taxed at the child’s income tax rate....

Using Census Bureau data, that gap translates to a difference of more than 14 million homes, Zillow said Tuesday. The results are in line with Zillow’s expectation that 25% more homes will sell in 2021 than in 2020, feeding a surge in demand triggered by the pandemic and ultra-low mortgage rates. “That injection of inventory could give buyers more options and breathing room in a competitive market,” Chris Glynn, principal economist at Zillow, said in a statement....

When you add the dividend into any price appreciation, you can enjoy both current income and future growth. Of course, you can reinvest dividends if you don’t need the income. One way investors look for high dividend-paying stocks is by using dividend yield as a guide. However, investors sometimes run into problems when relying on dividend yield as a measurement. It helps to understand what dividend yield tells you and what it doesn’t....

That’s helpful to know because credit card rewards points can offset the cost of your next trip. Research by The Balance shows that, in general, you’ll get the most value when you use points and miles to book international flights and standard hotel stays. But it’s always important to crunch the numbers to find the best deal available. The Balance periodically analyzes more than 25 different airline, hotel, and general travel credit card rewards programs to learn what credit card rewards points are worth and how they can help you make up for lost travel time....

Senior Loans Are Secured by Collateral Senior loans are so named because they are at the top of a company’s “capital structure,” meaning that if the company were to fail, investors in senior loans are the first to be repaid. As a result, senior-loan investors typically recover much more of their investment in a default. Senior loans are typically secured by collateral such as property, which means they are considered to be less risky than high-yield bonds....

Why Disclose Your Income? In 2009, the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD) was passed to protect consumers from predatory credit card practices. One of the provisions of the CARD Act was to institute income requirements to get a credit card. No particular income level was specified, but each individual merchant or credit card company had to verify that the applicant could meet the minimum monthly payment....

Here’s a closer look at what it means to be self-employed. What Does ‘Self-Employed’ Mean? Self-employed people earn a living by working for themselves, not as employees of someone else or as owners (shareholders) of a corporation. But there are various definitions of “self-employed” that vary slightly. IRS Definition of Being ‘Self-Employed’ The IRS says that you’re self-employed if you meet one of these conditions: You carry on a trade or business as a sole proprietor or independent contractor You are a member of a partnership that carries on a trade or business You are in business for yourself, including a part-time business...

What Is Liquidity in Life Insurance? Liquidity in life insurance policies relates to how quickly and easily someone can convert a policy into cash, either during the insured person’s life or after they’ve passed. It can apply to the accessibility of funds for both policyholders and beneficiaries. In general, all types of life insurance policies should supply a liquid payout to beneficiaries after the insured party passes away. However, some policies also offer liquidity during the policyholder’s life—they’re known as “living benefits” because you can access the policy’s cash value or, in some cases, the death benefit while you’re alive....

This article gives details on SSNs for employers and sole proprietors so they can comply with Internal Revenue Service (IRS) and Social Security Administration (SSA) regulations. Social Security Numbers vs. Tax ID Numbers A Social Security number (SSN) is just one form of taxpayer ID number. An employee may have one of several other identifiers: Individual taxpayer number (ITIN): Given to individuals who don’t have, or aren’t eligible for, an SSN Employer Identification Number (EIN): Given to someone who is not an individual, and individuals who have employees or are in business as a sole proprietor...

For many reasons, adults may suffer an illness, injury, or other medical condition that makes it impossible for them to work. In these situations, they may receive Social Security disability insurance benefits that help to pay for living expenses. They may also be eligible for Medicaid. Medicaid is a public health care program that pays for doctor’s visits, medical services, and prescription drugs. Disability Benefits at Retirement Age Social Security disability benefits will automatically switch over to Social Security retirement benefits once the individual reaches their eligible age of retirement but the amount remains the same....