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. 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…
The Federal Reserve will set interest rates six more times in 2023. The Fed’s own forecasts suggest one more high is likely, with more possible, and then holding rates at elevated levels for the rest of 2023. Fixed income markets disagree. Bond markets see some chance of another hike at the upcoming May meeting, but then view rate cuts as almost certain later this year. The disconnect reflects disagreement on the chances of a U.S. recession. Markets see a recession looming, the Fed is more optimistic. Fed Meeting Timing The Fed’s remaining interest rate decisions for 2023 are scheduled for…
Rain is a four-year-old company that uses technology to advance employees, typically hourly workers, their wages shortly after a shift ends so they don’t have to wait for payday to have cash on hand. The Los Angeles-based business says it secured a $250 million valuation through a $116 million funding round made up of $66 million in equity and $50 million in debt. The raise was led by fintech-focused venture capital firm QED QED investors and Invus Opportunities. Wndrco, Tribe TRIBE2 Capital and Dreamers VC, which was co-founded by the actor Will Smith, also invested. In the time waiting for…
