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. Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were higher for 3-year loans and lower for 5-year loans compared to the previous seven days. For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender between…

Consumer credit increased at the end of 2022 amid high inflation and a rising interest rate environment, studies show. Total consumer credit rose by 7.1% or $28 billion in November, according to the latest data from the Federal Reserve. Driven primarily by credit cards, revolving credit increased by 16.9%, the Fed reported.  Experts believe 2023 will see a record increase in credit card delinquency rates. In fact, credit card delinquency rates may rise to levels not seen since 2010, according to the 2023 Consumer Credit Forecast by TransUnion.The credit bureau expects serious credit card delinquencies to increase to 2.6% by…

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. During the week of March 6, 2023, average private student loan rates rose for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 5-year variable-rate loans and 10-year fixed-rate loans. 10-year fixed rate: 8.83%, up from 7.94% the week before, +0.895-year variable rate: 9.74%,…

Despite recent decreases in mortgage rates, buying a home is expected to become more expensive amid economic uncertainty, according to an analysis by Realtor.com.  The average interest rate on a 30-year-fixed-rate mortgage dropped to 6.42% for the week ending March 23, a 0.18% decline from the previous week, according to Fredie Mac data. That rate is the lowest in more than a month, Realtor.com reported. “It’s a small reprieve and much-needed break for homebuyers, but don’t look for it to last,” Realtor.com said in its analysis. “When the Fed raises rates, mortgage rates usually rise in kind.” The Federal Reserve raised…

In recent years, nothing has had a greater impact on office design trends than the pandemic. From turning just about any room of the home into an office to the evolution of the hybrid work model—offices have truly evolved to reflect personal style and work habits as they never have before. This is especially true for entrepreneurs. No longer are offices stuffy or boring—design is purposeful and intentional. I spoke with six entrepreneurs in very different fields to discuss their unique office spaces as well as learn how design plays a role in their productivity and lifestyle. Brittany Lo Brittany…

This year, one of our clients called us because he had won a Publishers Clearing House prize of $18.5 million and needed to speak with me as soon as possible. Already without more information, there are red flags. The client had received a phone call indicating that Publishers Clearing House selected him as a backup winner when the first winner did not satisfy everything. He was told the process of receiving the prize was complex. It involved proof of ID and going to his bank in order to make a tax payment. They were also going to give him a…

The Treasury Inspector General for Tax Administration—or TIGTA—has released its audit of the IRS’s 2022 Filing Season. The purpose of the review was to evaluate “whether the IRS timely and accurately processed individual paper and electronically filed tax returns during the 2022 Filing Season.” It will surprise no one to hear that TIGTA concluded that it was a challenging tax season, and there’s still work to be done. Returns & Backlog The IRS opened tax season and began processing 2021 individual tax returns on January 24, 2022. By the end of the filing season, as of May 6, 2022, the…

Many factors determine how happy and fulfilling your retirement will be. Smart financial planning can increase your chances of maintaining financial freedom for as long as you live. Here are some of the biggest risks to having a secure and happy retirement I’ve seen over the past 20-plus years of helping people plan their retirement and achieve financial freedom. Risk Of An Unhealthy Retirement The more aches and pains you suffer, your retirement will likely be less satisfying. Knee pain might not kill you, but it could limit the activities you find enjoyable in retirement. I am writing this as…

Many times people feel guilt or shame around how much money they don’t have. For those who have made it professionally and financially, that guilt or shame may not disappear. It may transform into guilt for having too much. The change in financial status may straddle between feelings of pride demonstrated through extravagant purchases or lifestyle upgrades, and a sort of survivor’s remorse. This may prompt feelings of guilt internally, while a simultaneous expectation exists to take care of the financial burdens of those close to them. This is especially true in the Black community in an occurrence referred to…

The Ricardians are again out in force, evidently experiencing another bout of resentful remembrance this week. The IMF has just augured that present moves toward ‘friendshoring’ on the part of the world’s principal trading nations ‘could slow global output,’ while Martin Wolf warns that we’re throwing away ‘nine decades of hugely successful policy.’ What is most comical about such pronouncements, coming now as they do, is perhaps less how wrongheaded they are than how unmindful they are of the fact that yes, we know all that. We’re well familiar with the Ricardian clichés. The brief against untrammeled trade has never…