What the Fed’s latest rate hike means for your debt, savings and financial plans

What the Fed’s latest rate hike means for your debt, savings and financial plans

As the Federal Reserve continues to raise interest rates, many Americans are scrambling their financial plans. On Wednesday, the Federal Reserve raised the benchmark federal interest rate by 0.75 percentage points. As a result, financial advisors say that some money decisions, such as credit card payments should be processed with greater urgency. Others, such as … Read more

What the Fed’s rate hikes mean for your debt, savings and financial plans

What the Fed’s rate hikes mean for your debt, savings and financial plans

As the Federal Reserve continues to raise interest rates, many Americans are scrambling their financial plans. On Wednesday, the Federal Reserve raised the benchmark federal interest rate by 0.75 percentage points. As a result, financial advisors say that some money decisions, such as credit card payments should be processed with greater urgency. Others, such as … Read more

What the Fed’s rate hikes mean for your debt, savings and financial plans

What the Fed’s rate hikes mean for your debt, savings and financial plans

As the Federal Reserve continues to raise interest rates, many Americans are scrambling their financial plans. With another Fed rate hike expected Wednesday, financial advisers say some money decisions, like paying off credit cards, should be treated with greater urgency. Others, such as buying a home, may be better off delaying, they say. “It’s time … Read more

Cher wants $85 million for her Venice-inspired Malibu home

Cher wants $85 million for her Venice-inspired Malibu home

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email notification. Singer and actress Cher is listing her longtime home in Malibu, California, for $85 million. Cher in 2022. Photo: Chris Pizzello/Invision/Associated Press The Italianate Renaissance-style property, built in 1999, sits on … Read more

Chinese property bonds hit record lows as investors lose faith

Chinese property bonds hit record lows as investors lose faith

HONG KONG—The bottom has fallen out of the market for bonds from Chinese property developers. Dollar bond prices of property companies in China have fallen to new lows, with some trading below 10 cents on the dollar. It reflects a loss of investor confidence in the sector, after a series of bond defaults shortchanged international … Read more

Chinese property bonds hit record lows as investors lose faith

Chinese property bonds hit record lows as investors lose faith

HONG KONG—The bottom has fallen out of the market for bonds from Chinese property developers. Dollar bond prices of property companies in China have fallen to new lows, with some trading below 10 cents on the dollar. It reflects a loss of investor confidence in the sector, after a series of bond defaults shortchanged international … Read more

The Home-Improvement Boom Isn’t Over Yet

The Home-Improvement Boom Isn’t Over Yet

America’s housing market is getting hammered, and that seems like it should chill the boom in home renovation. But, even though spending seems sure to slow, there is reason to think it might not buckle. The rapid ascent in mortgage rates has turned the switch on housing from hot to cold. The number of previously … Read more

Rising inflation is pushing Halloween candy prices frighteningly high

Rising inflation is pushing Halloween candy prices frighteningly high

Rising inflation has already strained homebuyers, drivers at the gas pump and people buying plane tickets. Now it’s also coming to shoppers in the Halloween candy aisle. Candy prices are up more than 13% from a year ago, according to the Labor Department, the biggest annual jump on record for candy. Rising labor costs and … Read more

Mortgages Sold to Fannie, Freddie Should Use More Than FICO Scores, Regulator Says

Mortgages Sold to Fannie, Freddie Should Use More Than FICO Scores, Regulator Says

The Federal Housing Finance Agency said Monday that it will require lenders that use credit scores for mortgage underwriting to use scores from both Fair Isaac Corp., FICO 1.52% the creator of FICO credit scores, and its competitor VantageScore Solutions LLC. Until now, mortgage lenders had to gauge most borrowers using only FICO scores if … Read more

Lenders should use FICO and VantageScore for loans sold to Fannie and Freddie, FHFA says

Lenders should use FICO and VantageScore for loans sold to Fannie and Freddie, FHFA says

Until now, mortgage lenders had to measure most borrowers using only FICO scores if they wanted to sell a loan to Fannie Mae or Freddie Mac. Photo: David Paul Morris/Bloomberg News NASHVILLE, Tenn. – The FICO score’s years-long hold on the mortgage market is coming to an end. The Federal Housing Finance Agency said Monday … Read more