Shopping for cheaper insurance hits a new high as Americans seek relief from rising rates: J.D. Power

Shopping for cheaper insurance hits a new high as Americans seek relief from rising rates: J.D. Power

The rate at which drivers were given new auto insurance quotes increased by 13.1% in the first quarter of 2023 – the highest rate since June 2021. And the switch rate increased by 4.1%, according to J.D. Power report.

The rate at which drivers were given new auto insurance quotes increased by 13.1% in the first quarter of 2023 – the highest rate since June 2021. And the switch rate increased by 4.1%, according to J.D. Power report.

America's debt hits new record of more than $17 trillion: NY Fed

America's debt hits new record of more than $17 trillion: NY Fed

Consumer debt reached a record of $17.05 trillion in Q1 2023. Many Americans still deal with high inflation and are seeking help from their financial institutions, reports say.

Consumer debt reached a record of $17.05 trillion in Q1 2023. Many Americans still deal with high inflation and are seeking help from their financial institutions, reports say.

Mortgage rates rise amid interest rate environment uncertainty: Freddie Mac

Mortgage rates rise amid interest rate environment uncertainty: Freddie Mac

The average rate for a 30-year fixed-rate mortgage rose to 6.39% for the week ending May 18, 2023, according to Freddie Mac’s latest data. Still, some experts have said they believe mortgage rates may come down if the Fed loosens up monetary policy.

The average rate for a 30-year fixed-rate mortgage rose to 6.39% for the week ending May 18, 2023, according to Freddie Mac’s latest data. Still, some experts have said they believe mortgage rates may come down if the Fed loosens up monetary policy.

Demand for used cars likely to grow as consumer seek affordability: Edmunds

Demand for used cars likely to grow as consumer seek affordability: Edmunds

Demand for more affordable cars is growing as high-interest rates and more expensive purchase prices are putting buying a new vehicle out of reach for many consumers, according to a recent Edmunds report.

Demand for more affordable cars is growing as high-interest rates and more expensive purchase prices are putting buying a new vehicle out of reach for many consumers, according to a recent Edmunds report.

Many Americans eye buy now, pay later to gain more financial flexibility: Survey

Many Americans eye buy now, pay later to gain more financial flexibility: Survey

Nearly half of Americans (46%) said they would also consider BNPL an alternative financing method to credit cards or cash, according to a recent survey.

Nearly half of Americans (46%) said they would also consider BNPL an alternative financing method to credit cards or cash, according to a recent survey.

Household debt hit record $17T last quarter as inflation squeezes Americans

Household debt hit record $17T last quarter as inflation squeezes Americans

New York Federal Reserve data released Monday shows household debt hit a fresh record in the first quarter of 2023 as high inflation squeezes Americans.

New York Federal Reserve data released Monday shows household debt hit a fresh record in the first quarter of 2023 as high inflation squeezes Americans.

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 ticks up again in April, puts interest rate hikes back on the table

Inflation ticks up again in April, puts interest rate hikes back on the table

The Consumer Price Index (CPI), a measure of inflation, rose 4.9% year-over-year in April, a slowdown from the 5% increase in March, according to the Bureau of Labor Statistics (BLS).

The Consumer Price Index (CPI), a measure of inflation, rose 4.9% year-over-year in April, a slowdown from the 5% increase in March, according to the Bureau of Labor Statistics (BLS).