Browsing Tag

interest rates

Mortgages are off track

New and used car prices are at record highs, and limited supplies of semiconductors continue to cover auto production, just as consumers will buy cars. According to the Ministry of Labor, prices for used cars and trucks in June were…

Wells Fargo freezes new HELOCs

One of the biggest names in mortgage lending in the country has put the brakes on home equity lines of credit (HELOCs) as the economic turmoil caused by COVID-19 leaves the U.S. mortgage market fragile. Wells Fargo & Co. has announced…

What is a payday loan?

A payday loan is a high-cost, short-term loan for a small amount - typically $ 500 or less - that is meant to be paid off with the borrower's next paycheck. Payday loans only require an income and a bank account and are often granted to…