Financial

  • Americans locked in a struggle to save: Study CNBC - 5 hours ago
    Americans locked in a struggle to save: Study

    Roughly half of American households are saving no more than 5 percent of their income, according to a Bankrate.com survey.

  • Study these loan types to pay for school Bankrate.com - 6 hours ago

    One variable-rate option carries a cost of the prime rate plus zero with an 18 percent interest rate cap. The prime rate in recent years has been priced 3 percent more than the Federal Reserve's targeted benchmark rate. Since the financial crisis, the targeted federal funds rate has been between zero and 0.25 percent, leaving the prime rate at 3.25 percent since 2009. In the first year or two, a variable-rate option should have a lower interest rate than a 5/1 ARM loan.

  • Why do auto insurers keep dropping my mate? Bankrate.com - 6 hours ago

    My partner keeps getting dropped by auto insurance companies. Is he permanently flagged in some way that's causing each insurance company to drop him for the same reason? An auto insurance company would not drop a customer if it couldn't verify his address. Meet with a top insurance agent and explain the problem to the agent.

  • Guess what? America's best savers aren't wealthy Bankrate.com - 6 hours ago
    Guess what? America's best savers aren't wealthy

    Middle-class Americans may not earn the biggest paychecks, but they put more of their money in savings than any other group. A quarter of middle-class households (those earning between $50,000 and $75,000 annually) set aside more than 15 percent of their income, according to a survey that accompanied Bankrate's March Financial Security Index. "Middle-class Americans (have) to do the saving, because nobody is going to do it for them," says Greg McBride, CFA, Bankrate's chief financial analyst. "They don't have the six-figure income to fall back on" for expenses, including household emergencies, long-term health care, children's education or their own retirement.

  • Audit: Maryland misallocated $28.4M for health exchange Associated Press - Sat, Mar 28, 2015 1:26 PM NZDT

    Maryland misallocated $28.4 million in federal money for its flawed health care exchange and should pay the money back, according to a federal audit released Friday. The audit marked the first time the ...

  • Final Glance: Insurance companies Associated Press - Sat, Mar 28, 2015 11:10 AM NZDT

    Shares of some top insurance companies were mixed at the close of trading: ACE L fell $.36 or .3 percent, to $110.90. Aflac Inc. rose $.05 or .1 percent, to $63.55. American International Group fell $.14 ...

  • The young & the restless: Activism's rising stars CNBC - Fri, Mar 27, 2015 11:56 PM NZDT
    The young & the restless: Activism's rising stars

    Can you guess the top six rising stars of activist hedge fund investing? Meet them here.

  • Why has my truck's gas mileage crashed? Bankrate.com - Fri, Mar 27, 2015 11:00 PM NZDT

    The gas mileage in my pickup has been just terrible for months now. It's an older truck, and my friend said that a car's gas mileage decreases as it ages. Why has my gas mileage been so terrible? An older car may have worse gas mileage than when it was new, but if it does, it's not because it is high in miles.

  • What if I withdraw an IRA CD before maturity? Bankrate.com - Fri, Mar 27, 2015 11:00 PM NZDT

    Is there a penalty if I withdraw an individual retirement account certificate of deposit before maturity if I am 88 years old? Since you're well past age 59 1/2, the early withdrawal penalty is one levied by the bank, not by the IRS. Banks sometimes don't charge a penalty on required minimum distributions, or RMDs, out of an IRA CD. Ask your banker whether there's a penalty on an RMD and what the penalty would be if you cashed in your IRA CD.

  • Top 10 states for foreclosure in February Bankrate.com - Fri, Mar 27, 2015 11:00 PM NZDT

    Foreclosure filings fell 4 percent nationally from January to February. According to RealtyTrac, a California-based firm that tracks foreclosures, these states had the highest rates of foreclosure in February. ...

  • Condo owner ambushed by conversion to rental Bankrate.com - Fri, Mar 27, 2015 11:00 PM NZDT

    You're part of a growing number of condo owners getting mired in a process called "repartmenting," which affords very little consumer protection, unfortunately. Case in point: New complex owners in such scenarios are still typically allowed to use their own appraisers to value the occupied condo units they want to buy, which, of course, opens the door to legal price rigging and other conflicts. In one "repartment" case in Pennsylvania, remaining owners were offered around $33,000 each for condo units that were valued at an average of $90,000 by the individual owners' appraisers.

  • Jury finds ex-San Francisco bank executive guilty of fraud Associated Press - Fri, Mar 27, 2015 5:50 PM NZDT

    A former executive of a San Francisco-based bank that received federal bailout money has been convicted of fraud. U.S. Attorney Melinda Haag said Thursday a federal jury in Oakland found 66-year-old Ebrahim ...

  • Economic slump presents chance for reform AAP - Fri, Mar 27, 2015 4:45 PM NZDT

    One of the first economists to predict February's rate cut says the Reserve Bank should now put the razor away to avoid bursting what has already become a housing bubble. Steen Jakobsen, chief economist at Denmark's Saxo Bank, says the Australian economy has hit rock bottom and has a 50/50 chance of falling into recession this year. We've got a housing bubble on our hands, and our economy and political system are a mess, he says. Although the data suggest the economy is in freefall, things are starting to turn around, as February's rate cut and the lower exchange rate begin to take effect, he said.

  • State gov't decisions risk investors: Robb AAP - Fri, Mar 27, 2015 4:32 PM NZDT

    Decisions by state governments to scrap major projects and oppose foreign investment are putting jobs and wealth at risk, Trade Minister Andrew Robb says. Mr Robb, who is in Hong Kong with a business delegation, says some investors are now building in a "risk premium" because big infrastructure projects such as Melbourne's East West Link are being shelved. "We've got to think of our dependence for the last 200 years on foreign investment to help us maintain and grow our industries," Mr Robb told Sky News on Friday. Mr Robb said Chinese business leaders and officials are also bemused about the "xenophobia" of NSW Labor's election campaign attack on the potential for the electricity industry to be leased by Chinese interests.

  • Gallagher pursues Ross over defection Financial Times - Fri, Mar 27, 2015 2:24 PM NZDT

    The New York-listed insurance broker Arthur J Gallagher is pursuing legal action against the former head of its international arm over his defection to rival Towergate. David Ross, among the biggest names ...

  • Pressure rises on Greece as savers drain bank deposits Associated Press - Fri, Mar 27, 2015 6:19 AM NZDT
    Pressure rises on Greece as savers drain bank deposits

    Greek bank deposits dropped by more than 7.5 billion euros ($8.2 billion) in February, ramping up pressure on the country's teetering financial system as its government scrambles to reach a deal with creditors ...

  • US average rate on 30-year home loan falls to 3.69 percent Associated Press - Fri, Mar 27, 2015 5:26 AM NZDT

    Average U.S. long-term mortgage fell for a second straight week, edging closer to historically low levels at the start of the spring home-buying season. Here's a look at rates for fixed and adjustable-rate ...

  • Leon Cooperman's Omega gets federal subpoena CNBC - Fri, Mar 27, 2015 4:55 AM NZDT
    Leon Cooperman's Omega gets federal subpoena

    The billionaire investor told clients his firm was subpoenaed by prosecutors in New Jersey, according to a letter obtained by CNBC.

  • Bank deposits drain adds pressure on Greece Associated Press - Fri, Mar 27, 2015 4:26 AM NZDT
    Bank deposits drain adds pressure on Greece

    Greek bank deposits dropped by more than 7.5 billion euros ($8.2 billion) in February, ramping up pressure on the country's teetering financial system as its government scrambles to reach a deal with creditors. ...

  • Average US rate on 30-year mortgage falls to 3.69 percent Associated Press - Fri, Mar 27, 2015 3:58 AM NZDT
    Average US rate on 30-year mortgage falls to 3.69 percent

    Average long-term U.S. mortgage rates fell this week for a second straight week, edging closer to historically low levels at the start of the spring home-buying season. Mortgage giant Freddie Mac said ...

  • 5 Smart Credit Habits to Start in Your 20s US News - Fri, Mar 27, 2015 2:26 AM NZDT

    Keeping an eye on your credit reports and scores could help you in two ways. How: There are many great paid and free services that allow you to monitor your credit reports and scores. According to a February Bankrate survey, 21 percent of 18 to 29 year olds have more credit card debt than they have in their emergency fund.

  • 9 Basic Pieces of Money-Saving Advice No One Follows -- But Should US News - Fri, Mar 27, 2015 2:20 AM NZDT

    Saving money doesn't always come naturally. Successful savers usually fail a few times (or more) before they figure out what works best for them.

  • Where will mortgage rates head next week? Bankrate.com - Thu, Mar 26, 2015 11:00 PM NZDT

    Will rates go up, down or remain unchanged? Intro Up 0% Down 45% Unchanged 55% Panel Prediction Up Down Unchanged 0% 45% 55% This week (March 26-April 1), none of the panelists believes mortgage rates ...

  • CD rates for March 26, 2015 Bankrate.com - Thu, Mar 26, 2015 11:00 PM NZDT

    Interest Rate Roundup Compare CD rates nationally and in your area. CDs 1-year CD yields: 0.27% 5-year CD yields: 0.87% Rates on some certificates of deposit dipped again in this week's rate survey. The ...

  • Credit card interest rates for March 26, 2015 Bankrate.com - Thu, Mar 26, 2015 11:00 PM NZDT

    Interest Rate Roundup Find the best credit card offers available. Credit Cards All fixed: 13.02% All variable: 15.75% Credit card rates were mixed this week, according to Bankrate's weekly survey of interest ...

  • National mortgage rates for March 26, 2015 Bankrate.com - Thu, Mar 26, 2015 11:00 PM NZDT

    Mortgage rates fell this week, according to Bankrate's latest survey of interest rates. The average rates for 30-year and 15-year fixed-rate mortgages dropped 11 basis points to 3.8 percent and 3.04 percent, respectively. A basis point is one-hundredth of 1 percent. The average rate for a 30-year jumbo mortgage fell 8 basis points to 3.92 percent.

  • Auto loan rates for March 26, 2015 Bankrate.com - Thu, Mar 26, 2015 11:00 PM NZDT

    Interest Rate Roundup Find the best auto rates in your area. Auto Loans 60-month, new car: 4.31% 36-month, used car: 5.15% Rates on auto loans held steady this week, according to Bankrate's survey of interest ...

  • Mortgage rates display delightful drop Bankrate.com - Thu, Mar 26, 2015 11:00 PM NZDT

    Janet Yellen struck a conservative tone over future interest rate hikes following last week's central bank policymaking meeting. "A lot of fear built up that the Fed would be more aggressive, and that drove rates up before its meeting," says David Cary, a mortgage broker at C2 Financial in the San Francisco Bay area. "But the Fed said it won't raise rates before the economy is ready for it, and rates fell.

  • Home equity loan rates for March 26, 2015 Bankrate.com - Thu, Mar 26, 2015 11:00 PM NZDT

    Interest Rate Roundup Find the best home equity rates in your area. Home Equity Line of credit: 4.76% Loan: 5.94% Rates on loans backed by home equity were mixed this week, according to Bankrate's latest ...

  • RBNZ keeps eye on commerical property AAP - Thu, Mar 26, 2015 5:15 PM NZDT

    The Reserve Bank of Australia isn't the only central bank keeping a close watch on the commercial property market - its New Zealand counterpart is also keeping a nervous eye on it as well. While much of the focus of the review, and most of the focus of subsequent media reports, was on the housing market, the RBA made pointed mention of the commercial property market and its growing vulnerability to a "correction". On Thursday, the RBNZ echoed that concern with a report on the topic of commercial property and financial stability in its monthly Bulletin. The report, by RBNZ economists Ashley Dunstan and Hayden Skilling, found that lending for commercial property had been the main reason for defaults during most financial crises, both in NZ and internationally.

  • Some cardholders leave home without AmEx AAP - Thu, Mar 26, 2015 11:01 AM NZDT

    For decades, American Express was the undisputed credit card of choice among corporate road warriors, the wealthy and the well-travelled, who lived by the company's slogan, "Don't leave home without it". Costco, for example, is ending its 15-year relationship with AmEx and defecting to Citigroup and Visa starting next March. Compounding its troubles, AmEx recently lost a major government antitrust lawsuit, a verdict that could damage its ability to compete. "The competitive environment for AmEx is very challenging," said Jason Arnold, a Wall Street analyst who covers AmEx for RBS Securities.

  • CME urges tougher US response to EU clearing dispute Financial Times - Thu, Mar 26, 2015 12:30 AM NZDT

    The head of the US's largest derivatives exchanges has suggested European clearing houses be restricted from US markets, if a long-running regulatory spat between the world's two main regions for derivatives ...

  • Mortgage applications at highest level since January CNBC - Thu, Mar 26, 2015 12:00 AM NZDT
    Mortgage applications at highest level since January

    Mortgage applications soared to the highest level since January last week, thanks to the lowest interest rates since February.

  • Roth IRA may be key to heirs' tax savings Bankrate.com - Wed, Mar 25, 2015 11:00 PM NZDT

    What is the best way to pass these assets on to my children after I'm deceased without them having to pay a lot of inheritance or estate taxes? It's a common retirement investor's question: How do you turn the tax-deferred compensation in your retirement accounts into tax-free distributions for your children? You'll need to work with a tax professional to make that happen. One potential strategy is to make a series of Roth IRA conversions.

  • What should senior do with $60,000 gift? Bankrate.com - Wed, Mar 25, 2015 11:00 PM NZDT

    I am soon to come into around $60,000 from a bequest. Please remember that your use of this website is governed by Bankrate's Terms of Use.