Financial News from

  • Foreign currency CDs: Tempting but tricky - Fri, Oct 21, 2016 9:00 PM AEDT

    Foreign-currency CDs can be awfully tempting for savers chasing higher yields. As you consider making foreign-currency CDs part of your portfolio, understand the risks and rewards. Foreign-currency CDs can be issued in euros, Indian rupees, South African rands or Brazilian reals, to give a few examples.

  • Where will mortgage rates head next week? - Fri, Oct 21, 2016 9:00 PM AEDT

    Will rates go up, down or remain unchanged? Intro Up 22% Down 11% Unchanged 67% Panel Prediction Up Down Unchanged 22% 11% 67% This week (Oct. 20-26), 22% of the panelists believe mortgage rates will rise ...

  • Why zero-coupon CDs don't come with zero risk - Fri, Oct 21, 2016 9:00 PM AEDT

    Think that zero-coupon certificates of deposit mean zero risk? Zero-coupon CDs are bought at a deep discount, with interest accreting annually. For example, a $75,000 zero-coupon CD may be bought for, say, $50,000, and mature in 7 years.

  • Can car buyer with great credit get a discounted rate? - Fri, Oct 21, 2016 9:00 PM AEDT

    Having top-notch credit is your first step in getting a great interest rate on your car loan, which can help save you big over the life of the loan. Sometimes lenders offer their lowest rates to their current customers in the form of a loyalty discount -- either because of the current banking business they do or because they are getting another car loan. With this in mind, your first step would be to check with any banks, credit unions or third-party lenders you currently do business with to ask for a discounted rate.

  • What if condo promotional material is false? - Fri, Oct 21, 2016 9:00 PM AEDT

    Promotional materials plus the website showed large, clear picture windows, which we thought would highlight a fabulous view. The content is broad in scope and does not consider your personal financial situation.

  • Cheap personal loan rates? It depends on where you look - Thu, Oct 20, 2016 9:00 PM AEDT

    There's a funny thing going on with personal loan interest rates: Depending on where you look, they're moving in opposite directions. A big Wall Street bank has debuted a new online consumer lender that promises to hand out personal loans with no fees at super-competitive interest rates. All in all, though, borrowers with solid credit should continue to find great deals in this competitive market, as long as they look at the right numbers when comparing offers.

  • 7 flavors of CDs: Which one is best for you? - Thu, Oct 20, 2016 9:00 PM AEDT

    The traditional CD remains the most popular type of certificate of deposit, but financial institutions also offer a variety of nontraditional CDs that can be more flexible than the regular kind. With a traditional CD, you deposit a fixed amount of money for a specific term and receive a predetermined interest rate.

  • Benefits of using the ACH network for business - Thu, Oct 20, 2016 9:00 PM AEDT

    Every time you receive a direct deposit or use your bank's automatic bill pay function, chances are good that you've utilized the ACH network. Automated Clearing House is a system for financial transactions in the U.S. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit, payroll and vendor payments.

  • 7 IRA withdrawals that don't trigger a penalty - Thu, Oct 20, 2016 9:00 PM AEDT

    In general, to withdraw funds penalty-free from an IRA you must be at least 59 one half years of age and the account must have been open for at least 5 years. Unreimbursed medical expenses To pay unreimbursed medical expenses that are more than 7.5% of your adjusted gross income. Medical insurance To pay medical insurance for yourself, your spouse and your dependents if you lose your job.

  • CD rates for Oct. 20, 2016 - Thu, Oct 20, 2016 9:00 PM AEDT

    Interest Rate Roundup CDs 1-year CD yields: 0.31% 5-year CD yields: 0.81% Rates on certificates of deposit were unchanged in Bankrate's weekly survey of CD rates. The 5-year CD yield stayed at 0.81% for ...

  • Puny raise next year if you're on Social Security - Thu, Oct 20, 2016 9:00 PM AEDT

    The recent announcement from Social Security about its cost-of-living increase has created intense controversy among those who will be affected most. Retired Social Security recipients receiving the average benefit of $1,355 will get a measly 0.3% raise, or $5 per month more in 2017, according to the agency. Some 70% of Medicare recipients are protected by what's known as the hold-harmless clause, which prevents premium increases that exceed the increase in Social Security benefits.

  • National mortgage rates for Oct. 20, 2016 - Thu, Oct 20, 2016 9:00 PM AEDT

    Interest Rate Roundup Mortgages 30-year fixed: 3.64% Average points: 0.24 Mortgage rates were mostly unchanged this week, according to Bankrate's latest survey of large lenders. The benchmark 30-year fixed-rate ...

  • Mortgages barely move as homebuilding picks up - Thu, Oct 20, 2016 9:00 PM AEDT

    copyright LesPalenik/ If you have looked for a home recently, there's a good chance that you were disappointed in the number of dwellings you had to choose from. In most places, it's a ...

  • 10 great works of fiction with plots featuring money - Wed, Oct 19, 2016 9:00 PM AEDT

    While the Bible holds that "the love of money is the root of all evil," there's a strong case to be made that avarice contributes just as generously to some of the world's best fiction. Money may be the last thing on our minds as we escape into a good book, but master storytellers from William Shakespeare, Edith Wharton and F. Scott Fitzgerald to such modern novelists as Martin Amis and John Lanchester have adroitly woven money themes into their works and deftly mined both comedy and tragedy from our universal struggle to survive. Want to feed your soul and learn some money lessons at the same time?

  • How to get disaster relief from the IRS - Wed, Oct 19, 2016 9:00 PM AEDT

    Taxpayers who itemize are allowed by the IRS to deduct casualty losses: "the damage, destruction or loss of property from an identifiable event that is sudden, unexpected or unusual." Usually, this means waiting to claim the loss on your next income-tax filing. Depending on when the catastrophe occurred, filers can amend a previous year's tax return and claim the catastrophic losses they suffered on the old return.

  • Basic differences between Medicaid and Medicare - Wed, Oct 19, 2016 9:00 PM AEDT

    Medicare and Medicaid are 2 government-run programs created in 1965 as part of President Lyndon Johnson's "Great Society" vision in response to the incapacity of low-income and older Americans to access private health insurance. What Is Medicare? Medicare is an insurance program that primarily serves individuals over the age of 65, regardless of their income, as well as dialysis patients and younger disabled people.

  • 5 mortgages that require little or no money down - Wed, Oct 19, 2016 9:00 PM AEDT

    The Federal Housing Administration, or FHA, insures loans with small down payments, and private mortgage insurers have relaxed their down-payment requirements. The VA guarantees purchase mortgages with no required down payment for qualified veterans, active-duty service members and certain members of the National Guard and Reserves. Private lenders originate VA loans, which the VA guarantees.

  • Which is better for you: Term or permanent life insurance? - Wed, Oct 19, 2016 9:00 PM AEDT

    Term insurance is the most common life insurance policy, and it is one that doesn't help build savings. If you die during that period, the insurance company pays the promised amount to your beneficiaries. There is no savings element with term insurance, there's only a death benefit.

  • Understand the differences between your IRA options - Wed, Oct 19, 2016 9:00 PM AEDT

    When you're saving for retirement, the nest egg builds a lot faster if you can put off paying taxes until you retire and are ready to withdraw your money. Some accounts, such as a 401(k) or a company-sponsored individual retirement account, give you a double benefit. Other accounts, such as a Roth IRA, allow you to contribute only after-tax dollars, but your earnings grow tax-free.

  • Life insurance: 4 types and their benefits - Tue, Oct 18, 2016 9:00 PM AEDT

    Nobody likes to think it will happen to them, but the only certainties in life are death and taxes, and a good life insurance policy is the only way to take the sting out of both and ensure support for your family after you are gone. Money is paid out of an investment contract under which you deposit regular sums.

  • Democrats feel better about finances, Republicans don't - Tue, Oct 18, 2016 9:00 PM AEDT

    As the election approaches, Democrats are warming to the state of their personal finances, while Republicans are feeling a bit more pessimistic, an analysis of data from Bankrate's recent Financial Security Index found. The mood has improved for independents as well, a slight shift upward from our measurement in September, which one political scientist at the time said showed a potential trouble spot for Hillary Clinton in her race against Donald Trump. On Oct. 7, the Washington Post first reported about an "Access Hollywood" video that shows Trump having an extremely lewd conversation about women in 2005.

  • Does paying off home equity line impact tax on home sale? - Tue, Oct 18, 2016 9:00 PM AEDT

    If I have a home equity line of credit and pay it off at the sale of the house, will the amount used to pay it off be taxed as a capital gain? The short answer to your question is that the home equity line of credit is unrelated to the potential capital gain or loss on the sale of your home. The next step is to subtract your "adjusted basis" to determine the gain or loss on the sale.

  • How the Fed and other factors determine interest rates - Tue, Oct 18, 2016 9:00 PM AEDT

    The Fed is charged with maintaining the stability of the nation's financial system and takes actions to raise or lower short-term interest rates in an effort to keep things stable. Raising interest rates slows the economy. Higher interest rates mean higher borrowing costs for individuals and businesses, and that usually means there's less money to spend elsewhere.

  • The good reason why Americans aren't spending more - Tue, Oct 18, 2016 9:00 PM AEDT

    Some 65% of U.S. adults say they have reason to cap their monthly spending, a percentage that has held fairly steady since 2014, according to a national poll for Bankrate's monthly Financial Security Index. RATE SEARCH: Find the savings account that pays the most interest. In each of the 4 years Bankrate has surveyed Americans on why they don't spend more, the need to save and living without a raise have been the 2 reasons cited most.

  • Is it possible to retire in your 30s or 40s? - Tue, Oct 18, 2016 9:00 PM AEDT
    Is it possible to retire in your 30s or 40s?

    Retiring super early can be a downright dangerous idea, says Mike Lynch, vice president of strategic markets at Hartford Funds. "If you stop funding your retirement and start using it 30 years ahead of schedule," says Lynch, "it is therefore unlikely that you will receive Social Security benefits.

  • Comparing bank CDs and CDs sold by brokerages - Mon, Oct 17, 2016 9:00 PM AEDT

    Bank CDs that you buy at your local bank branch are usually what we'd think of as traditional certificates of deposit. Brokered CDs are bank CDs bought by brokers and then resold. "Brokered CDs used to pay higher rates," says Robert Laura, president of Synergos Financial Group in Howell, Michigan.

  • Retiring next year? 8 money moves to make now - Mon, Oct 17, 2016 9:00 PM AEDT
    Retiring next year? 8 money moves to make now

    As life transitions go, retirement ranks way up there among the most challenging, both financially and emotionally. After a lifetime of work, you may have mixed emotions about retirement -- looking forward to not working but nervous about leaving your work identity behind. Because retirement can be so stressful, Jeff Vollmer, a financial adviser with Hyde Park Wealth Management in Cincinnati, advises clients to begin planning 5 years in advance.

  • Your bank rep may not have any banking experience - Mon, Oct 17, 2016 9:00 PM AEDT

    Many bank employees want to sell you something. At Wells Fargo, they are primarily looking for people with a strong sales background to become a personal banker," says former Wells teller and personal banker Ashley Narcisse. Managers evaluate bankers primarily on salesmanship, and secondarily on customer service.

  • Does your state have foreclosure troubles? See the rankings - Mon, Oct 17, 2016 9:00 PM AEDT

    Foreclosure filings decreased 12.78% nationally from August to September. According to ATTOM Data Solutions, parent company to RealtyTrac, a California-based firm that tracks foreclosures, this is how ...

  • Why compound interest is really cool - Fri, Oct 14, 2016 9:00 PM AEDT

    Basics Gary Houlder/Getty Images Ready to begin building up a healthy amount of savings? First, it's important to understand the very cool concept of compound interest, and to do that you'll need to know ...

  • Why that rental car might not be safe for you to drive - Fri, Oct 14, 2016 9:00 PM AEDT

    Dear Driving for Dollars, With all the news about so many cars recalled with air bag problems, it made me wonder how I can be sure that my rental car is safe. I travel a lot for my work, and sometimes ...

  • When's the best time of year to sell a house? - Fri, Oct 14, 2016 9:00 PM AEDT

    My intention is to move to South Carolina, so I don't want to have to travel back for closing, etc. How should I time this? To drill down a bit deeper, a study by Zillow, the real estate database, released in spring 2016 found that homes listed between May 1 and May 15 sold an average of 18.5 days faster than homes not listed in that span, plus they sold for 1% more than average, translating to a value-add of roughly $1,700 on a $170,000 home.

  • How safe is your bank? Here's how to find out - Fri, Oct 14, 2016 9:00 PM AEDT

    The Safe and Sound ratings feature is a quick and easy way for you to check the financial health of a bank, thrift or credit union before you open an account. Ratings are based on tests of the institutions' capitalization, asset quality, earnings and liquidity (or CAEL). Asset quality -- Assesses the loans in a bank's portfolio.

  • What changes in money market funds mean for investors - Thu, Oct 13, 2016 9:00 PM AEDT

    It's not exactly a makeover for these low-risk investments, but money market funds are getting a refresh. The changes -- courtesy of the Securities and Exchange Commission, or SEC -- are designed to make a conservative, low-risk investment even safer and more reliable for retail investors. Institutional investors definitely will see bigger changes, since the funds they invest in hold corporate-debt securities.

  • How can Funding Circle enhance your portfolio? - Thu, Oct 13, 2016 9:00 PM AEDT

    Funding Circle is an online marketplace that provides peer-to-peer (or P2P) investment and lending opportunities. Investors are able to lend money to businesses, and in exchange they receive interest and eventual repayment, which is handled by the website. Funding Circle holds the distinction of being the first website to offer P2P lending in the United Kingdom.