Author: News Room

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 6.875% as of June 5, which is unchanged from yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 5.990%, which is 0.135 percentage points lower than yesterday.  With mortgage rates changing daily, it’s a good idea to check today’s rate…

This article is for those individuals who are single and have never been married. Most articles written about Social Security claiming strategies address the analysis for a married couple. This is simply because planning for married couples revolves around these 3 criteria: Maximize the high earner Social Security benefit. Coordinate the benefits between the spouses. Maximize the Social Security survivor benefit. If you are currently single and have been married, you will follow the criteria above. For those who have never been married, items #2 and #3 do not apply, so your planning strategy is different. Your planning is different…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Germany’s vice-chancellor said the doors were “open for discussions” with Beijing on EU tariffs but he took a tougher line on Chinese exports to Russia during the first mainland visit from a senior European politician since the duties were announced.Robert Habeck, minister for economic affairs and climate action, said he hoped for imminent talks between Beijing and Brussels and that the tariffs of up to 38 per cent on Chinese electric vehicles were “not punitive”.“There’s room for discussion,” he said at a…

Introduction As mentioned in some of my previous articles, I’m trying to add some duration to my fixed income portfolio. Preferred shares are an important part of my income-focused portfolio, but I am keeping close tabs on the financial performance of the issuers on a quarterly basis, just to make sure I can take action if/when there’s a need to fine-tune my positions. My objective is to review these investments on a quarterly basis, which is even more important for the non-cumulative preferred shares (where preferred dividends can be skipped). Although that’s not a major concern of mine, as the…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 6.625% as of June 6, which is 0.250 percentage points lower than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 5.990%, which is unchanged from yesterday.  With mortgage rates changing daily, it’s a good idea to check today’s rate…

Retirement waits for no one; it’s coming fast for the youngest Baby Boomers and oldest Gen-Xers. The stark reality is many people are not ready, and studies show more than half of us wish we’d saved more and had a solid retirement plan. With retirement looming, financial stress is a constant companion for 57% of people, according to PwC, and 63% of us can’t cover a $500 emergency expense, let alone think about retirement. One natural stress response is what psychologists refer to as a defense mechanism—chief among them is rationalization. Rationalization is when we cope with something that causes…

The US Supreme Court has upheld restrictions on the use of firearms by individuals subject to domestic violence restraining orders, in a closely watched case that has weighed in on the balance between gun rights and public safety.In an 8-1 decision, the high court’s majority on Friday argued that barring individuals who threaten others’ safety from keeping firearms does not violate the US constitution’s second amendment, which protects the right to bear arms.“Since the founding, our nation’s firearm laws have included provisions preventing individuals who threaten physical harm to others from misusing firearms,” John Roberts, the court’s chief justice, wrote…

Stocks have good years and bad years. In the good years, many or even most stocks will return 10% or more, but then in bad years, they give it back. This sort of market price driven return is not what I am referring to in the title. A sustainable 10% return is not about market prices, it is about actually earning that amount. A stock price going up could merely be the stock getting more expensive and the now higher multiple reduces future return potential. Thus, a return is only sustainable if the underlying company proportionally increases in value. This…

Medical bills may soon be removed from many credit reports. The Consumer Financial Protection Bureau (CFPB) just proposed a rule that would eliminate medical debt from credit reports in an attempt to prevent debt collectors from using the reporting system to get people to pay. The rule also intends to create higher levels of privacy for individuals with medical debt and increase the number of loan approvals. In the past, credit reporting companies could share medical debt with lenders, who would consider these debts in their lending decisions. This led to a long list of denials for borrowers facing high…

Only 33% of student loan holders have been making regular payments since they started up again in October – and about half are looking to use an income-driven repayment plan or are seeking outright forgiveness, according to a Civic Science survey. Student loan payments picked up again last October after a 42-month payment and interest accrual pause. After a more than three-year pause, many Americans have had to make significant adjustments to their household budgets to afford their student loan payments. Roughly 58% of student loan holders said that they are at least “somewhat” or “very” concerned about paying their student…