The Federal Reserve — aka “the Fed” — lowered the Fed funds rate today by 1/4 point to 4.25 percent. Great, but what does that really mean?
I know, it’s the holidays and extra cash is a rarity for most of us. But if you’re in the lucky spot of being able to afford putting extra money toward your mortgage, there are a few questions you should ask yourself first if you want to make the right choice financially, according to ABC News and the experts.
Has your rainy day fund taken a hit lately? Interest rates have fallen recently, which may be good for your mortgage, but not necessarily for your savings account. Now’s the time to take a closer look at where you’re keeping your hard-earned savings and if you’re making the most of your money.
It’s easy to get carried away around the holidays, spending more than you planned on that perfect gift for mom or tacking on another stocking stuffer for a dear friend. But don’t let the “Season of Giving” give you heartburn because you’re spending more than you can afford.
It’s not always easy to recognize when it’s time to refinance. But if you don’t stay on top of things, you may be throwing away money each month on your mortgage payment. Thankfully, there’s a resource out there that can give you a great start toward understanding your options and when to act: The Home Loan U Guide to Refinancing.
Quizzle is a new Web site (coming soon!) that will give you a simple understanding of your home and your money, all in one spot. Why the Quizzle Blog? We wanted to create a forum for your feedback about the Web site, as well as a place for suggestions about what will help you better manage your home and money. We’ll also highlight new features in Quizzle, share tips and tricks from experts, and give you a heads up about other great tools out there.