Between March 2022 and July 2023, the Federal Reserve raised its benchmark interest rate 11 times. As a result, savings rates skyrocketed. The Federal Reserve has since paused further rate hikes, but savings rates have remained stable. So, if you're looking for the best interest rates available right now, here's where to find them.How today's savings rates compare to the national averageThough savings rates are historically high, the national average interest rate on savings accounts is still just 0.45%, according to the FDIC. The good news is that the top high-yield savings accounts offer annual interest rates of 5% or…
Author: Private Lending Agent
Chris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a number of outlets, including Yahoo Finance, MSN, Fox Business, and GOBankingRates.Chris JenningsChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a number of outlets, including Yahoo Finance, MSN, Fox Business,…
When I was growing up in the 1970s, council housing was the most important rental sector: in 1979 there were around 5.5 million dwellings. However, in 1980 Margaret Thatcher passed the Housing Act 1980, introducing the right to buy property for council housing tenants. The properties were sold at a huge discount and were highly sought after, leading to most of the best council properties being withdrawn from the social housing sector in the 40 years since. By 2022, public housing is expected to fall by around 25% to 4.1 million units. On the surface, this sounds great, and indeed,…
Oil prices gave back gains on Friday on hopes that the U.S. Federal Reserve will soon begin a long-awaited interest rate cut, stimulating the world's largest economy and boosting demand for crude.Brent crude, the benchmark for two-thirds of global crude, was little changed, closing up $0.02 at $86.41 a barrel. West Texas Intermediate crude, a benchmark that tracks U.S. crude, fell 0.24% to close at $81.54.Both benchmark oil prices are on track to post monthly gains of more than 6%, recovering from May's declines. Year-to-date, Brent crude is up 12.8%, while WTI crude has surged nearly 15%.Ipek Ozkardeskaya, senior analyst…
For our final news round of June, let’s take a look at the housing-related news that caught our eye at Landlord Law this week. The tenant is now seeking changes to the EPC. EPC reform has been in the news a lot recently, with leaseholders now demanding that steps be taken to make green practices more accessible. A survey by Rightmove found that 87% of renters want green improvements made immediately to reduce heating bills and make their rental property more energy efficient. More than half of homes in the UK have an EPC rating of D or below, and…
Bristol-based ski holiday company raises £5.6m in funding round, plans to create 20 jobs Heidi was founded in 2018 by brothers Marcus and Alexander Brandt, who developed a platform to design bespoke trips. The pair had worked in the travel industry for 10 years and saw a gap in the market for more flexible online operators, so they started the business with funding from family and friends. Heidi is now the UK's third largest ski holiday operator, carrying more than 34,000 passengers in the most recent season. The company, which employs 44 staff, has quadrupled its revenue in the past…
UK savers are being urged to set aside inflation-beating savings accounts before interest rates start to fall.Many fixed-rate savings bonds currently offer yields of 5% or more. These accounts offer a guaranteed yield and can earn you more than twice the current rate of inflation.But most analysts expect the Bank of England to cut its base rate for the first time in August or September, followed by several more cuts over the next year or two, leading some commentators to argue that the rates currently available may not last for long.Mark Hicks, savings expert at investment firm Hargreaves Lansdown, said:…
Why this economist thinks a major commercial real estate crash could bring down the FDICMeta-explanation: A leading economist warns that the FDIC could be overwhelmed if the commercial real estate crisis leads to the failure of multiple regional banks.The Federal Reserve's latest stress tests showed that the nation's largest banks could withstand a major commercial real estate crash, but economist Paul Kupiec sees greater danger still lurking in the banking sector. Kupiec told Money Talk News he believes a surge in commercial loan defaults could lead to a wave of community bank closures in a short period of time, potentially…
Commercial property insurance costs have skyrocketed and are expected to rise further in the U.S. over the next few years. These skyrocketing costs can slow the sales process and even cause transactions to be modified or abandoned. The average cost of insurance for commercial property in the U.S. has nearly doubled over the past decade, according to an analysis released in late May by the Deloitte Center for Financial Services. In its 2024 Financial Services Forecast report, the company notes that insurance costs averaged $1,558 per building per month in 2013. By the end of 2023, that figure will rise…
1. ADT – Personalized Security for Small and Large Businesses Product Specs Equipment Costs Packages starting at $599 Monitoring Options Professional Monthly Monitoring Costs Starting at $25 per month Contract Lengths 36 months and up Installation Options Professional Smart Platform Integration Alexa and Google Home Type of Security Solution ADT used to offer all its business security solutions under one roof, ADT Commercial, but it has been divided into two separate operations. ADT’s business security for small businesses remains under ADT, but its commercial offering is now called Everon and is under the management of the Chicago-based company GTCR.1 Everon…