TOWN OF POTSDAM, New York (WWNY) – After damaging flooding in August, a St. Lawrence County paper mill got word it would get a $2 million loan to help it recover but then learned there was no money left in the fund. Potsdam Specialty Paper was badly damaged after 4 to 6 inches of rain … Read more
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews. The Fed expects fewer cuts to the federal funds rate and elevated inflation … Read more
(Bloomberg) — El Salvador reached a deal with the International Monetary Fund after four years of negotiations that were strained by the country’s adoption of Bitcoin as a legal tender. Most Read from Bloomberg The Central American nation and the Washington-based lender agreed on a $1.4 billion loan program to be disbursed over 40 months, … Read more
Richard Drury/ Getty Images; Illustration by Austin Courregé/Bankrate A mixed week for home equity rates. HELOCs continued their 2024 declines: The $30,000 HELOC (home equity line of credit) dropped one basis point to 8.52 percent — its lowest level in a year and a half, according to Bankrate’s national survey of lenders. In contrast, the … Read more
Mortgage applications declined 0.7% on a seasonally adjusted basis during the week ending Dec. 13, driven by slight decline in refinance activity, according to data released Wednesday by the Mortgage Bankers Association (MBA). The decline in applications broke a five-week streak of increases in mortgage demand. Rising mortgage rates last week were a likely factor … Read more
WASHINGTON — The Federal Reserve cut its key interest rate Wednesday by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year than it previously envisioned, largely because of still-elevated inflation. The Fed’s 19 policymakers projected that they would cut their benchmark rate … Read more
The Federal Reserve lowered its benchmark rate by a quarter point, or 25 basis points, at the end of its two-day meeting. This marks the third rate cut in a row — all together shaving a full percentage point off the federal funds rate since September. Lower borrowing costs will trickle down to some consumer … Read more
US President Joe Biden speaks during a Hanukkah holiday reception in the East Room of the White … [+] House on December 16, 2024, in Washington, DC. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) AFP via Getty Images The Department of Education, under the Biden Administration, confirmed this week … Read more
Homeowners should know the risks of borrowing from their home equity before applying. Getty Images Both home equity loans and home equity lines of credit (HELOCs) offer homeowners access to their accumulated home equity at a much cheaper price point than many alternative credit options. While credit card interest rates sit just under 24% now … Read more
WILMINGTON, Del., Dec. 18, 2024 /PRNewswire/ — Best Egg, a leading fintech that drives financial confidence, announced today the successful arrangement of a $1 billion purchase facility to help offer more vehicle equity loans that let people use their car’s value as collateral to borrow money. This commitment, led by funds managed by affiliates of … Read more