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Why Americans Need to Prepare for Higher Mortgage Rates

Image source: Getty Images Borrowing for a home could become even more expensive. Key points Mortgage rates were higher in 2022 than they were at any time in 2021. Actions by the Federal Reserve could push rates even higher. For many months, potential home buyers have been grappling with record home prices. The silver lining, […]

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Leveraging Technology to Improve Financial Inclusion in the United States

By Ismail Amla, Executive Vice President, Professional Services, NCR Corporation The benefits of financial inclusion are known and numerous. Households that lack access to bank accounts or relatively affordable mechanisms for receiving, paying, and spending money end up spending a significantly higher percentage of their income on cash-intensive financial options. These options, like money orders […]

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MoneyMutual Review: The Leading Payday Loan Company to Use?

And if you had an emergency today – your car broke down, you ended up in the hospital, an unexpected house repair, anything could happen. Do you have an emergency fund to help cover unexpected expenses, or will you have to rely on family, friends or, even worse, a credit card? MoneyMutual is a free […]

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Personal loan rates could rise in March as Fed plans quarter-point rate hike

Despite strong wage growth and low unemployment, consumers are feeling the effects of rising prices. The Fed plans to hike rates in March to fight inflation, but that could impact personal loan rates. (iStock) The Federal Reserve has kept its benchmark rate close to zero since March 2020 to spur economic recovery amid the COVID-19 […]

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The average mortgage holder has just as much equity. How are you doing?

Image source: Getty Images Are you sitting on a pile of equity? Key points Rising house prices have led to an increase in home equity. Mortgage holders have an average of about $185,000 in home equity. There are ways to use the equity in your home to your advantage. Since 2021, would-be home buyers have […]

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Withdrawal rollovers hit $1.2 trillion in 2021. Here’s why now is the time to sign up for one

Image source: Getty Images You may want to do a cash-out refinance before mortgage rates go up. Key points A cash-out refinance allows you to borrow more than the remaining balance of your mortgage. Last year many borrowers rushed to refinance, and you might want to do the same. Many people refinance their mortgage in […]

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Types of personal loans | The bank rate

If you want to use a personal loan to overcome a financial difficulty or consolidate your debts, you are not alone. According to research by Bankrate, the average consumer had personal loan debt of around $16,458 in 2020. Before you go ahead with borrowing the funds you need, you need to compare loan types available. […]