Financial related news.
WASHINGTON — During the financial crisis a decade ago, President Barack Obama could look around the room and turn to an economist who served as Harvard's president, a former president of the New York Federal Reserve and a renowned academic considered one of the world's authorities on the Great Depression. As President Donald Trump confronts [...]
Long-term mortgage rates have sunk to a record low, giving many homeowners an opening to refinance their loans to free up money to spend or save. The average rate on a 30-year fixed mortgage hit a record low of 3.29 percent last week from 3.45 percent the previous week, mortgage buyer Freddie Mac said Thursday. [...]
WASHINGTON (AP) — Jerome Powell is confronting his stiffest test yet as head of the Federal Reserve in an atmosphere vastly altered from what his predecessors faced. It makes an uncertain situation even more challenging. On Tuesday, Powell announced a surprise half-point interest rate cut that shrank the Fed's key rate to a range of [...]
Trying to make a complaint against your student loan lender or servicer may feel like screaming into the void. In 2019, federal student aid customers made 44,155 complaints using the Federal Student Aid Feedback System, according to the most recent report of the Federal Student Aid Ombudsman. The most common complaints dealt with repaying loans. [...]
NEW YORK (AP) — As stocks around the world tumble on worries about a fast-spreading virus, investors have been clamoring for the superheroes of the financial world to ride to the rescue once again. Yet this time, there are doubts: Can central banks really fix this crisis as they have so many others? As much [...]
To state the obvious, the stock market is a little scary these days. A viral outbreak has spread to nearly 60 countries and shows little sign of abating. That in turn has stirred worries about the economy on a global scale. Now, the stock market has surrendered nearly five months’ worth of gains in an [...]
Americans took out nearly $150 billion in loans backed by the Federal Housing Administration to buy homes in 2018. Nearly 83 percent of those FHA borrowers were first-time home buyers, according to the Department of Housing and Urban Development. It's unsurprising that FHA loans are especially popular with first-time home buyers, due to more lenient [...]
LOS ANGELES — Last week's big sell-off on Wall Street suggests stocks have finally caught up to the bond market, where fear of an economic slowdown has been evident for months. Signs that the new coronavirus that originated in China is now spreading to other parts of the world rattled investors, intensifying worries about the [...]
WASHINGTON (AP) — The nation’s economy grew at an annual rate of 2.1 percent in the final quarter of last year, but damage from the spreading coronavirus is likely depressing growth in the current quarter and for the rest of the year. The overall pace of growth in the October-December quarter was unchanged from its [...]
NEW YORK — Stay indoors and stay clean. That's what Wall Street is betting people around the world will do given all the fears about a rapidly spreading virus. As stock markets tumble on worries about how much COVID-19 will harm people and slow the global economy, more than a handful of companies have nevertheless [...]