Cash News The Federal Reserve cut the federal funds rate three times in late 2024, which means deposit rates are now falling. It’s more important than ever to ensure you’re earning the highest rate possible on your savings, and a high-yield savings account could be the solution. These accounts pay more interest than the typical […]
Cash News If you find out someone left you a little something in their will, chances are you won’t need to pay an inheritance tax on it. There is no federal inheritance tax, and only five states have inheritance taxes. So unless the person who died lived in one of those states, you won’t have […]
Cash News The average 30-year fixed mortgage rate is over 7% for the fourth straight week, according to Freddie Mac. However, after five straight weeks of increases, the 30-year rate is beginning to trend downward. Economists do expect rates to decrease further this year, though gradually. April forecasts from both Fannie Mae and the Mortgage […]
Cash News Digital wallets are a growing payment method, especially among younger generations. According to market research firm eMarketer, roughly half of Americans use a digital wallet to make purchases, but that figure jumps to 80% for Gen Zers and 66% for millennials. But what is a digital wallet, how does it work, and does […]
Cash News The popularity of online banks has exploded since the internet was commercialized in the late 1990s and early 2000s. According to university researchers, online banks have increased their deposits by a factor of 30 since 2001, three times the rate of traditional banks in the same period. Why? Customers are drawn to the […]
Cash News As mortgage rates start to decrease, you may be considering an adjustable-rate mortgage. ARMs typically have a lower initial interest rate than fixed-rate mortgages, but then shift to a variable rate later. It’s usually not a dramatically lower interest rate, though. You might only see a 0.25% difference (or less) between the 30-year […]
Cash News There are a lot of costs that come with buying a house. The down payment is just the start — you also need to factor in closing costs. In fact, closing costs typically come to around 2% to 5% of the home’s purchase price. So, as home prices rise, closing costs do too. […]
Cash News Automatic payments certainly simplify your financial life. You can reduce the risk of late payments and fees, and some lenders even give you a discount for enrolling in autopay. However, the convenience of automatic payments does have a downside: You could end up paying for services you no longer use without realizing it. […]
Cash News In December 2024, the Federal Reserve reduced its benchmark interest rate, marking the third consecutive cut this year. As a result, interest rates on credit cards, loans, and deposit products have been falling as well — good news for borrowers, but not so great for savers. That’s a stark contrast to earlier this […]
Cash News The past year saw significant expansion in the economy: Inflation fell, as did interest rates. Unemployment rates remained low, and the S&P 500 rose by more than 20%. But with a new incoming administration, shifting financial policies, and continued recovery from the pandemic, what will 2025 hold? See our predictions for the next […]