Fed's May interest rate hike could harm regional bank lending, mortgages, expert warns

Fed's May interest rate hike could harm regional bank lending, mortgages, expert warns

The Federal Reserve's latest interest rate increase has been harmful to the balance sheets of small regional banks and has impacted their ability to lend, according to the National Association of Realtors.

The Federal Reserve's latest interest rate increase has been harmful to the balance sheets of small regional banks and has impacted their ability to lend, according to the National Association of Realtors.

Biden administration approves $42B in student loan forgiveness under updated PSLF program

Biden administration approves $42B in student loan forgiveness under updated PSLF program

The Department of Education has approved $42 billion in student loan forgiveness through recent changes to the PSLF program, designed to provide debt relief to borrowers in the non-profit, public service and governmental fields.

The Department of Education has approved $42 billion in student loan forgiveness through recent changes to the PSLF program, designed to provide debt relief to borrowers in the non-profit, public service and governmental fields.

Mortgage rates dip on positive inflation data: Freddie Mac

Mortgage rates dip on positive inflation data: Freddie Mac

The average rate for a 30-year fixed-rate mortgage dropped to 6.35% for the week ending May 11, according to Freddie Mac's Primary Mortgage Market Survey.

The average rate for a 30-year fixed-rate mortgage dropped to 6.35% for the week ending May 11, according to Freddie Mac's Primary Mortgage Market Survey.

Gas prices decrease amid market uncertainty: AAA

Gas prices decrease amid market uncertainty: AAA

Average gas prices dipped to $3.53 per gallon for the week ending May 11, 2023, AAA reported. The low cost of oil has kept gas prices on the decline despite a rise in gas demand, AAA said.

Average gas prices dipped to $3.53 per gallon for the week ending May 11, 2023, AAA reported. The low cost of oil has kept gas prices on the decline despite a rise in gas demand, AAA said.

Inflation and interest rate hikes are negatively impacting Americans' financial well-being: survey

Inflation and interest rate hikes are negatively impacting Americans' financial well-being: survey

Inflation and interest rate hikes have negatively impacted Americans' financial well-being and many have made no progress in saving for retirement or building emergency funds, according to a survey by Morning Consult. Here’s what you need to know.

Inflation and interest rate hikes have negatively impacted Americans' financial well-being and many have made no progress in saving for retirement or building emergency funds, according to a survey by Morning Consult. Here’s what you need to know.

Gas prices drop amid recession fears, pre-summer lull: AAA

Gas prices drop amid recession fears, pre-summer lull: AAA

Gas prices decreased last week, but rising interest rates have raised concerns of a recession, according to AAA.

Gas prices decreased last week, but rising interest rates have raised concerns of a recession, according to AAA.

Job growth shows resilience in April but also signs of softening

Job growth shows resilience in April but also signs of softening

The economy added 253,000 jobs in April, an increase from the previous month but slower than the average gain of 290,000 in the last six months, according to the latest employment report from the Bureau of Labor Statistics (BLS).

The economy added 253,000 jobs in April, an increase from the previous month but slower than the average gain of 290,000 in the last six months, according to the latest employment report from the Bureau of Labor Statistics (BLS).

Personal loan interest rates edge down for 5-year loans

Personal loan interest rates edge down for 5-year loans

The latest trends in interest rates for personal loans from the Credible marketplace, updated weekly.

The latest trends in interest rates for personal loans from the Credible marketplace, updated weekly.

Fed doubles down on the fight against inflation, raises rates another 25 basis points

Fed doubles down on the fight against inflation, raises rates another 25 basis points

The Federal Reserve announced another 25 basis point interest rate increase bringing the federal funds rate to a targeted range of 5% to 5.25%, the highest level in 15 years.

The Federal Reserve announced another 25 basis point interest rate increase bringing the federal funds rate to a targeted range of 5% to 5.25%, the highest level in 15 years.

Here’s why consumers' credit scores got a boost in March: Report

Here’s why consumers' credit scores got a boost in March: Report

Consumer credit scores increased from last year to an average of 701, and the percentage of consumers scored in the subprime credit

Consumer credit scores increased from last year to an average of 701, and the percentage of consumers scored in the subprime credit