Business

JPMorgan ‘to pay record settlement to end mortgage probes’

Hot day in Moscow breaks temperature record set at the end of the 19th century

Moscow, May 18 (EFE / EPA) .- (Camera: Sergei Ilnitsky) Thermometers in Moscow this Tuesday exceeded 30 degrees Celsius, breaking a temperature record registered at the end of the 19th century.FOOTAGE OF MOSCOW CITY.

What Matters Most In Deciding Whether To Pay Off Your Mortgage Early

Especially in uncertain times like these, the dream of owning one's home free and clear is an enticing one. On the other hand, isn't saving for retirement, or college funds more important? According to Business Insider, if you have the opportunity to pay off your mortgage early, the deciding factor comes down to just one thing: interest rates. If the rate on your mortgage is higher than the rate you'd earn by investing cash in the stock market, pay down the debt first. But before you do that, run the numbers to see if refinancing your mortgage would make sense. If so, you can apply the freed-up cash towards your high-interest debt. Once that's cleared up, pay off the mortgage!

Student Loan Forgiveness May Come With Tax Hit

US Houses Are Pricier Than Ever. But Will it Last?

In March, the US Federal Reserve's lowering of interest rates fueled a housing boom. According to Business Insider, the Federal Housing Finance Agency says that the explosion shows no signs of subsiding. A seasonally adjusted index of prices rose 1.7% in September from the prior month, and prices jumped 7.8% from their year-ago period. Mortgage rates hit their thirteenth record-low of the year last week. The average 30-year fixed-rate mortgage rate fell to 2.72% from 2.84%. However, experts say the good times in the housing market aren't likely to last forever. We expect some moderation in the pace of housing starts in the face of the rapidly escalating health crisis, a faltering recovery, and softening labor market gains. Nancy Vanden Houten, Lead US economist, Oxford Economics