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- and 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 March 30 and…

Household bills cost Americans an average of $29,459 per year or roughly 42% of the average take-home income, a recent report said.  Overall, U.S. households spent $3.87 trillion on household bills in 2022, according to doxo’s most recent U.S Bill Pay Market Size & Category Breakout Report. Housing accounted for the most significant spending, but utility bills, auto loans and auto insurance were also considerable costs.High inflation and rising costs have meant Americans spend more on everything from food to fuel. In January, the Consumer Price Index (CPI), a measure of inflation, rose 6.4% year-over-year – still above the Federal Reserve’s 2% target.  “With…

Mortgage rates slid for the fourth week in a row, but buyers may have their hands tied by other challenges arising in the housing market, according to Freddie Mac.  The average rate for a 30-year fixed-rate mortgage dropped to 6.28% for the week ending April 4, according to Freddie Mac’s Primary Mortgage Market Survey. That’s down from the previous week when it averaged 6.32%. Mortgage rates, however, remained well above last year when the average was 4.72%.Last week, the average rate for a 15-year mortgage was 5.64%, up from 5.56% the week before and from 3.91% last year.   The continued decline in the 30-year…

The average account balance for self-directed 401(k)s grew to $280,099 for the fourth quarter of 2022, up by 2.45% from the previous quarter, according to a report by Charles Schwab.  Self-directed 401(k)s are retirement plans that exist within a company’s 401(k) plan, but allow participants to invest in their choice of stocks, bonds, mutual funds and other securities that aren’t part of the traditional 401(k) investment menu.Here’s how these plans broke down by holdings in Q4, according to Schwab:  Equities: 31.3%.Mutual funds: 29.4%ETFs: 22.1%Baby boomers held the largest balances in self-directed 401(k)s with an average of $453,554, Schwab reported. That…

The challenge of paying off thousands of dollars of debt can be daunting for many Americans.  One Texas woman paid off $70,000 in debt in just two years by using a unique method of saving and spending. Jasmine Taylor of Amarillo became debt-free by “cash stuffing.”  The term refers to the placing of cash into labeled envelopes and ditching credit and debit cards. FLORIDA COUPLE PAID OFF $190K IN STUDENT LOAN DEBT IN 27 MONTHS: ‘GET A BUDGET’Taylor joined “Fox & Friends” on Wednesday morning to discuss how she accomplished her goal — and why cash stuffing worked for her. “I was…

American workers are receiving some “very encouraging” news about their retirement futures, with one generation, in particular, that’s most set up for success thanks to a “dramatic” shift in behavior, according to a new Vanguard report. “The good news is all generations are seeing a lift, are seeing an increase across these topics that matter most,” Vanguard Strategic Retirement Consulting principal Dave Stinnett told Fox News Digital on Monday. “But we’re seeing the biggest lift with younger workers.”The U.S. saw significantly more millennial and Gen Z workers contributing to their savings or retirement plans in 2021 than compared to 2006…

All eyes will be on the March jobs report when it comes out Friday morning amid signs the once rock solid labor market is finally beginning to crack in the face of higher interest rates.   The Labor Department’s high-stakes payroll report is projected to show that hiring increased by 239,000 last month and that the unemployment rate held steady at 3.6%, according to a median estimate by Refinitiv economists.That would mark a drop from the 311,000 gain in February and would be the weakest monthly job growth since December 2020. While monthly jobs data is always important, the Federal…

U.S. hiring slowed in March as the once rock-solid labor market began to soften in the face of high interest rates and stubborn inflation.  Employers added 236,000 jobs in March, the Labor Department said in its monthly payroll report released Friday, mostly in line with the 239,000 jobs forecast by Refinitiv economists. The unemployment rate, meanwhile, ticked lower to 3.5% as the labor force participation rate increased to the highest level since before the pandemic began. It marked the lowest monthly jobs gain since December 2020. While monthly jobs data is always important, the Federal Reserve is closely watching this particular report…

The global economy may hit its slowest rate of growth in over 30 years, prompting the International Monetary Fund (IMF) to call for more assistance for low-income countries and members.  “For the weakest members of our global family, additional support from wealthier countries is essential,” IMF Managing Director Kristalina Georgieva said in Washington ahead of the group’s annual meeting. The IMF projected that the global economy may grow only by an average of 3% over the next five years – the weakest rate of growth since 1990, Georgieva said in her speech.  The rate last year hit 3.4% after a brief…

U.S. job growth cooled in March but continued to chug along at a healthy pace, boosted by a flurry of hiring at bars and restaurants. Employers added 236,000 jobs in March, the Labor Department said in its monthly payroll report released Friday, mostly in line with the 239,000 jobs forecast by Refinitiv economists. The unemployment rate, meanwhile, ticked lower to 3.5% as the labor force participation rate increased to the highest level since before the pandemic began. It marked the lowest monthly jobs gain since December 2020. “There are clear signs of a more broad-based slowdown in the report, with job gains…