Christina Zelow Lundquist/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways A cash-out refinance replaces your current mortgage with a new, bigger one. The borrower receives the difference between the two balances in cash. The terms of your refinanced mortgage might differ from your original loan, including a new interest…
Key takeaways Decisions made by the Federal Reserve to increase the benchmark rate do not directly impact auto loans but rather the cost for banks to lend. The higher the Fed sets rates, the higher auto loan rates will likely be. The Fed made its third and last rate cut…
Key takeaways The Federal Reserve doesn’t directly set auto loan rates — but it does affect the cost for lenders to borrow money. The Federal funds rate was cut for a third and final time in 2025 and was not changed in the first meeting of 2026, so it currently…
The holiday season is a time filled with joy, celebration, and, often, a lot of expenses. As the festivities wind down, many find themselves facing the reality of depleted bank accounts, credit card debt, and the daunting task of rebuilding their financial safety nets. An emergency fund serves as a…
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Key takeaways The NCUA (National Credit Union Administration) insures credit union deposits up to $250,000 per depositor, per institution, per ownership category. NCUA insurance provides the same protection as FDIC insurance at banks. Both are backed by the full faith and credit of the U.S.…
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Dan Coplan/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways An FHA cash-out refinance lets you borrow against the equity in your home by swapping out your current home loan with a new, larger one. This type of refinance is available to qualified borrowers with any kind of existing mortgage —…
We Are/Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways It’s possible to qualify for a loan with a 550 credit score. However, the lower your credit score, the higher your personal loan interest rate will be. Consider using a cosigner or applying for a secured loan to increase your approval…
STUDY SUMMARY Ramsey Solutions conducted a study of more than 1,000 benefits decision-makers in companies of all sizes across the United States. 48% say that financial stress has a significant impact on their employees. Financial wellness is the number one benefit employers are looking to add in the next one…
Key takeaways Car insurance is mandatory because it provides financial protection for both parties in a motor vehicle accident, thus reducing the need for costly lawsuits. Minimum coverage car insurance costs an average of $806 per year as of September 2025, but personal risk factors, the state you live in,…
Study Summary • 59% of American workers say the COVID-19 pandemic has changed what they value about a job or career. • 55% of workers said they’re considering changing jobs. • 52% of workers would be willing to take a pay cut for a career that more closely aligns with…
ferrantraite/Getty Images If you’ve recently filed a home insurance claim and you’re unhappy with the suggested payout, you may have some recourse. Hiring a public insurance adjuster provides you with a second opinion regarding the damage to your home. Public insurance adjusters may be a useful resource if you think…
2. Take care of your Four Walls first. When setting up your budget, write down your monthly income first. Then you’ll subtract your monthly expenses—starting with the essentials. The Four Walls are your top priority, so make sure your budget is ready to cover these things before anything else (in this…
Andrii Zastrozhnov/Getty Images Key takeaways A credit reporting agency is a company that compiles information about your borrowing history into a credit report. Also called credit bureaus, credit reporting agencies primarily sell reports to lenders to assess your creditworthiness for loan approval. Experian, Equifax and TransUnion are the three main…
Donald J. Trump has officially been sworn in as the 47th president of the United States, and he’s made some pretty big promises about what he’s going to do to help the economy. Some might even call them . . . yuge promises. (Okay, I’m done.) Now, here’s the deal:…
Key takeaways Buy now, pay later (BNPL) can provide a zero-interest alternative to personal loans. Like personal loans, BNPL won’t hurt your credit utilization ratio. The shortest-term BNPL are typically interest-free compared to rates of up to 36% for personal loans. Your BNPL limit typically grows with on-time repayments. If…
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