Bloomberg Creative/Getty Images Key takeaways The federal funds rate impacts how expensive it is for lenders to loan money, so consumer loan rates typically change when the federal funds rate changes. During the Federal Open Market Committee’s December meeting, the regulatory body announced it would drop the target rate by…
Ariel Skelley / Getty Images Key takeaways Interest rates on federal student loans are set on July 1 each year for loans disbursed from July 1 to June 30 of the following year. Borrowers with existing federal student loans will not see any changes when the Fed lowers interest rates.…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates moved up once again this week, with the 30-year fixed rate averaging 6.27%, up from 6.19% 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…
Key takeaways The Federal Open Market Committee (FOMC) sets the benchmark rate, which impacts the rates auto lenders set. When the federal funds rate fluctuates, so will the cost to finance a vehicle. The Fed increased the benchmark rate 11 times between 2022 and 2023 and cut it three times…
Trending
Spotlight This Week
More Articles
Personal Finance
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…
Featured Articles
PC Photography/Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways With owner financing, the homeowner or seller extends a loan to the homebuyer, rather than a bank or mortgage lender providing the loan. The contract can be structured in a number of ways, including as a…
Dept Managmnt
Get to Work – As Much as You Can Did you know almost half of Canada’s post-secondary students take on student loan debt?…
Banking
For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
Credit Cards
All News
My property taxes have ballooned 134% over my 20 years of homeownership. It seems like every year I grumble about another increase, pay the bill and move on. Recent data, however, has me rethinking my approach — it turns out I might be leaving serious money on the table. More…
Markets are soaring. Valuations are swelling. And enthusiasm for all things artificial intelligence is pumping hundreds of billions of dollars into the most transformational technology of the modern era. “AI isn’t just another theme; it’s the culmination of decades of evolution in computing,” Jon Markman, a Forbes contributor who analyzes…
The fundamental flaws in the way the Federal Reserve operates these days were on full display Wednesday when Jerome Powell talked to the media after the central bank’s key policymaking committee meeting. It confirmed why there must be a drastic overhaul of our central bank—as well as new leadership. The…
Image by GettyImages; Illustration by Bankrate It’s a mixed showing for home equity rates as the Federal Reserve lowered interest rates by a quarter point, its second rate reduction in 2025. The benchmark 5-year $30,000 home equity loan fell nine basis points to 8.02 percent, its lowest level since March…
Images by Getty Images; Illustration by Hunter Newton/Bankrate Economic uncertainty over the potential impact of President Trump’s tariff policies on the cost of American goods and services has dimmed the prospects for lower personal loan rates for the remainder of 2025. At its October meeting, the Fed cut rates for…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates edged lower again this week, with the 30-year fixed rate averaging 6.25 percent, down slightly from 6.26 percent the previous week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago…
The Federal Reserve is widely expected to cut interest rates again at its October meeting, bringing its key borrowing rate down to a level last seen in late 2022. Don’t count on it to cure all of your financial woes. Like a line of falling dominos, lower rates from the…
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict editorial policy, so you can trust that…
Fixed-rate HELOCs are the talk of the town lately among home equity lenders and industry insiders. Home equity isn’t the flashiest corner of consumer finance, so it’s noteworthy when a buzzy new trend emerges. I talk with home lending experts all the time, and they keep telling me the same…
Key takeaways To qualify for a home equity loan or line of credit, you’ll typically need to maintain at least 20 percent equity in your home (including both your existing mortgage and the new equity loan or line of credit). Some lenders allow 15 percent. You’ll also need a solid…
Editor's Pick
