Mortgage Rates are in for a Bumpy Ride in June

June mortgage rates forecast Mortgage rates might be volatile in June. A graph of them may resemble the cutting side of a handsaw, with sharp daily ups and downs. I predict that the average rate on a 30-year mortgage will be higher in the last week of June than in the last week of May. … Continued

Beware of These Overhyped Financial Strategies

A good rule of thumb when you’re trying to eat healthy is to beware of any food you see advertised. The most beneficial fare — whole grains, fruits, vegetables — tends not to have a marketing budget. Similarly, investments that are enthusiastically pushed by commission-earning salespeople may not be the best for your financial health. … Continued

5 Financial Tasks You Should Tackle by Year-End

A task without a deadline is just wishful thinking. Sometimes, you can get away with procrastinating. If you never get around to alphabetizing your spices, no one’s life will change. But putting off some tasks could have a huge impact on loved ones. The close of the year is a good time to set some … Continued

Here’s What Homeowners Must Remember at Tax Time This Year

Homeownership traditionally comes with some great tax breaks, but lots of things are different this year due to new tax rules. Here are four things that could put a wrinkle in your tax return this filing season if you’re a homeowner. 1. The mortgage interest deduction is different Mortgage interest is tax-deductible, but this year the deduction … Continued

How to Stay Afloat Financially in a Federal Shutdown

When you have a pile of bills and no paycheck, address the essentials first. That means the roof over your head, medicine, food, heat, electricity and — for those who still must report to jobs despite a government shutdown — getting to work. What can wait? Almost everything else. Communicating with creditors is key to surviving a … Continued

What the Government Shutdown Means for Home Loans

The partial federal government shutdown is complicating the already complicated process of getting and managing a mortgage. For one thing, the political storm is like severe weather at a major airport: You can expect minor delays or worse. Also, it could mean financial hardship for some federal government employees facing mortgage payments without their regular … Continued

Don’t Believe the Hype About Millennials and Money

Millennials are killing fast food. They’re wiping out golf. Thanks to them, mayonnaise is as good as dead. If you believe the latest survey — no need to specify which survey here, they’re all virtually the same — there’s very little millennials can’t do. Except, of course, save for retirement, control their spending and keep their grubby … Continued

Debt-to-Income: What It Is, and Why You Should Understand It

In any kind of lending, the organization giving the money wants to be sure that the borrower can actually afford to pay it back. Since a mortgage is typically the largest loan that a home buyer will have, lenders find it important to confirm that a borrower is not taking on too much debt. They … Continued

When Renting Your First Place, Good Credit Can Open Doors

When first-time renter Angelica Fattu-Logan, 20, started applying for apartments, she braced for rejection. But those rejections never came — in part because she had good credit. “I applied to about three or four different apartments, and they all accepted me right away,” says Fattu-Logan, a drugstore manager and college student from Peoria, Arizona, who … Continued

Budgeting for New Homeowners: Plan for Additional Expenses

The stress and excitement of buying a house has come and gone — it’s time to hang a welcome sign and call it home. But a new journey in budgeting begins once you’ve paid the closing costs and tipped the movers. Now it’s time to learn to budget as a homeowner. If you’re new to … Continued