Amid an ongoing housing crunch, online lender Rocket Mortgage has started offering bridge loans, a form of short-term financing that enables borrowers to buy their new home before they’ve sold their current one. Also known as gap loans and interim financing, bridge loans are most often used by homebuyers to help with down payments and
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The elders in my family were big on safe investments. Growing up in the 1980s, I can recall receiving savings bonds as birthday gifts from far-flung aunts and grandmothers. Though these bonds were disappointing presents for any 8-year-old hoping for the latest Skeletor action figure, my parents assured me I would be grateful when I
On 19 June, the Bank of England announced that the base rate would remain steady at 4.25%. This rate serves as a benchmark for banks and lenders to set interest rates on savings accounts, mortgages, and credit cards. Although the inflation rate remains above the bank’s target of 2%, the committee opted for a cautious
In today’s volatile market conditions, fixed deposits (FDs) continue to be one of the safest and most trusted investment options for risk-averse investors. For many people, especially senior citizens, parking funds in a fixed deposit account with a small finance bank (SFB) ensures stable returns while staying protected from daily market ups and downs. What
The average interest rate for a 30-year fixed mortgage edged up to 6.94% on Monday, a slight increase of one basis point from both the previous day and last week. This minor fluctuation comes as potential homebuyers and those considering a refinance closely watch for clearer signals from the economy. Meanwhile, other popular loan types
When it comes to paying for large expenses like a costly home repair or a funeral, it can be tough to come up with all the money you’ll need to cover the bill — especially if your emergency fund can only get you so far. That’s where personal loans can come in. The money you
The higher your credit score, the better your chances are to get approved for financial products — like personal loans — with a lower interest rate. Still, there are personal loans you can get if you have a fair or bad credit score. Some lenders cater to applicants with lower credit scores in the poor
Mortgage rates presented a mixed picture for prospective homebuyers and those considering a refinance on Friday. While the benchmark 30-year fixed-rate mortgage held relatively steady, other popular loan types saw slight shifts, reflecting the ongoing push and pull of economic crosscurrents. The average 30-year fixed mortgage rate is currently hovering around 6.88%, a marginal decrease
Homebuyers and those looking to refinance received more welcome news Wednesday as mortgage rates continued their downward trend. The national average for a 30-year fixed mortgage, the most popular home loan in the U.S., fell to 6.93%, offering a potential window of opportunity for borrowers to lock in lower monthly payments. This latest dip, reported