check credit – How To Occupy http://howtooccupy.org/ Thu, 17 Mar 2022 19:48:41 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://howtooccupy.org/wp-content/uploads/2021/07/icon.png check credit – How To Occupy http://howtooccupy.org/ 32 32 3- and 5-year personal loan rates continue to fall https://howtooccupy.org/3-and-5-year-personal-loan-rates-continue-to-fall/ Thu, 17 Mar 2022 19:48:41 +0000 https://howtooccupy.org/3-and-5-year-personal-loan-rates-continue-to-fall/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. The latest personal loan interest rate trends […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

The latest personal loan interest rate trends from Credible Marketplace, updated weekly. (iStock)

Borrowers with a good credit application personal loans in the last seven days pre-qualified for lower rates for 3-year and 5-year fixed rates than in the previous seven days.

For borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender between March 10 and March 16:

  • Rates on 3-year fixed-rate loans averaged 10.13%, down from 10.47% the previous seven days and 10.83% a year ago.
  • Rates on 5-year fixed-rate loans averaged 12.23%, down from 12.95% the previous seven days and 13.16% a year ago.

Personal loans have become a popular means of consolidate and pay off credit card debt and other loans. They can also be used to cover unexpected expenses like medical billstake care of a major purchase or finance home improvement projects.

3- and 5-year fixed personal loan rates have fallen over the past seven days. While the rates for 3-year terms only fell by a slight 0.34%, the rates for 5-year terms saw a more significant drop of 0.72%. Borrowers can enjoy interest savings with a 3 or 5 year personal loan now.

Whether a personal loan is right for you often depends on several factors, including the rate you may qualify for. Comparing several lenders and their rates could help you get the best possible personal loan for your needs.

It’s always a good idea to comparison store on sites like Credible to understand how much you qualify for and choose the best option for you.

Here are the latest personal loan interest rate trends from the Credible Marketplace, updated monthly.

Personal Loan Weekly Rate Trends

The table above shows the average prequalified rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender.

For the month of February 2022:

  • 3-year personal loan rates averaged 10.52%, down from 11.09% in January.
  • 5-year personal loan rates averaged 12.99%, down from 13.40% in January.

Personal loan rates vary widely depending on credit rating and length of loan. If you’re curious about what kind of personal loan rates you might qualify for, you can use an online tool like Credible to compare the options of different private lenders. Checking your rates will not affect your credit score.

All Credible Marketplace lenders offer fixed rate loans at competitive rates. Since lenders use different methods to assess borrowers, it’s a good idea to ask for personal loan rates from multiple lenders so you can compare your options.

Current personal loan rates by credit score

In February, the average prequalified rate retained by borrowers was:

  • 8.32% for borrowers with credit scores of 780 or higher choosing a 3-year loan
  • 29.42% for borrowers with credit scores below 600 choosing a 5-year loan

Depending on factors such as your credit score, the type of personal loan you are looking for, and the repayment term of the loan, the interest rate may differ.

As the chart above shows, a good credit rating can mean a lower interest rate, and rates tend to be higher on loans with fixed interest rates and longer repayment terms.

How to get a lower interest rate

Many factors influence the interest rate a lender can offer you for a personal loan. But there are steps you can take to increase your chances of getting a lower interest rate. Here are some tactics to try.

Increase credit score

Generally, people with higher credit scores qualify for lower interest rates. Steps that can help you improve your credit score over time include:

  • Pay your bills on time. Payment history is the most important factor in your credit score. Pay all your bills on time for the amount owed.
  • Check your credit report. Check your credit file to make sure there are no errors. If you find any errors, dispute them with the credit bureau.
  • Reduce your credit utilization rate. Paying off credit card debt can improve this important credit score factor.
  • Avoid opening new credit accounts. Apply for and open only the credit accounts you really need. Too many serious inquiries on your credit report in a short time could lower your credit score.

Choose a shorter loan term

Personal loan repayment terms can vary from one to several years. Typically, shorter terms come with lower interest rates because the lender’s money is at risk for a shorter period.

If your financial situation allows it, applying for a shorter term could help you get a lower interest rate. Keep in mind that the shorter term doesn’t just benefit the lender: by choosing a shorter repayment term, you’ll pay less interest over the life of the loan.

Get a co-signer

You may be familiar with the concept of a co-signer if you have student loans. If your credit isn’t good enough to qualify for the best personal loan interest rates, find a co-signer with good credit could help you get a lower interest rate.

Remember that if you are unable to repay the loan, your co-signer will have to repay it. And co-signing a loan could also affect their credit score.

Compare rates from different lenders

Before applying for a personal loan, it’s a good idea to shop around and compare offers from several different lenders to get the lowest rates. Online lenders generally offer the most competitive rates and can be quicker to disburse your loan than a physical establishment.

But don’t worry, comparing rates and terms doesn’t have to be a tedious process.

Credible is easy. Simply enter the amount you wish to borrow and you can compare multiple lenders to choose the one that suits you best.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,500 positive Trustpilot reviews and a TrustScore of 4.7/5.

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Data Breach Alert: Lake Shore Savings Bank | Console and Associates, PC https://howtooccupy.org/data-breach-alert-lake-shore-savings-bank-console-and-associates-pc/ Tue, 15 Mar 2022 17:21:52 +0000 https://howtooccupy.org/data-breach-alert-lake-shore-savings-bank-console-and-associates-pc/ Recently, Lake Shore Savings Bank confirmed that the company had suffered a data security incident leading to the compromise of the names, addresses and bank account numbers of certain customers. If you have received a data breach notification, it is essential that you understand what is at risk. the data breach lawyers at Console & […]]]>

Recently, Lake Shore Savings Bank confirmed that the company had suffered a data security incident leading to the compromise of the names, addresses and bank account numbers of certain customers. If you have received a data breach notification, it is essential that you understand what is at risk. the data breach lawyers at Console & Associates, PC is actively investigating the Lake Shore Savings Bank data breach on behalf of those whose information was exposed. As part of this investigation, we are offering free consultations to anyone affected by the breach who wants to learn more about the risks of identity theft, what they can do to protect themselves, and what their legal options may be. get compensation from Lake Shore Savings Bank.

Last year, 1,862 data breaches affected more than 189 million people. On average, victims of identity theft spend 200 hours and over $1,300 trying to find their identity. Many victims also suffer from emotional distress, credit damage, and may even end up with a criminal record. Taking immediate action is the best way to prevent the worst consequences of a data breach.

Learn more about the causes and risks of data breaches

Often, data breaches result from a hacker gaining unauthorized access to a company’s computer systems in an effort to obtain sensitive consumer information. Although no one can know why a hacker targeted Lake Shore Savings, it is common for hackers and other criminals to identify companies suspected of having weak data security systems or vulnerabilities in their networks.

Once a cybercriminal gains access to a computer network, they can then access and delete all data stored on compromised servers. While in most cases a business victim of a data breach can identify the accessed files, they may have no way of knowing which files the hacker actually accessed or deleted. Datas.

Although the fact that your information has been compromised in a data breach does not necessarily mean that it will be used for criminal purposes, being the victim of a data breach puts your sensitive data in the hands of someone unauthorized. Therefore, you are at increased risk of identity theft and other fraud, and criminal use of your information is a possibility that should not be ignored.

Given this reality, individuals who receive a data breach notification from Lake Shore Savings Bank should take the situation seriously and remain vigilant by checking for any signs of unauthorized activity. Companies like Lake Shore Savings are responsible for protecting consumer data in their possession. If Lake Shore Savings Bank is found to have failed to adequately protect your sensitive information, you may be eligible for financial compensation through a data breach lawsuit.

What are consumer remedies following the Lake Shore Savings Bank data breach?

When customers decided to do business with Lake Shore Savings, they assumed the company would take their privacy concerns seriously. And it goes without saying that consumers would think twice about giving a company access to their information if they knew it wouldn’t be secure. Thus, data breaches such as this raise questions about the adequacy of a company’s data security system.

When a business, government entity, nonprofit, school, or other organization accepts and stores consumer data, it also accepts a legal obligation to ensure that this information is kept private. US data breach laws allow consumers to pursue civil data breach claims against organizations that fail to protect their information.

Of course, given the recentness of the Lake Shore Savings Bank data breach, the investigation into the incident is still in its early stages. And, at this time, there is no evidence yet to suggest that Lake Shore Savings is legally liable for the breach. However, that may change as more information about the breach and its causes comes to light.

If you have questions about your ability to bring a data breach class action lawsuit against zLake Shore Savings Bank, contact a data breach attorney as soon as possible.

What should you do if you receive a data breach notification from Lake Shore Savings Bank?

If Lake Shore Savings Bank sends you a data breach notification letter, you are among those whose information was compromised in the recent breach. Although this is not the time to panic, the situation deserves your attention. Below are some important steps you can take to protect yourself against identity theft and other fraudulent activity:

  1. Identify compromised information: The first thing to do after becoming aware of a data breach is to carefully review the data breach letter sent. The letter will tell you what information about you was accessible to the unauthorized party. Be sure to make a copy of the letter and keep it for your records. If you’re having trouble understanding the letter or what steps you can take to protect yourself, a data breach attorney can help.

  2. Limit future access to your accounts: Once you’ve determined what information about you was affected by the breach, the safest game is to assume that the hacker who orchestrated the attack stole your data. Although this is not the case, prevention is better than cure. To prevent future access to your accounts, you must change all passwords and security questions for any online account. This includes online banking accounts, credit card accounts, online shopping accounts, and any other accounts that contain your personal information. You should also consider changing your social media account passwords and setting up multi-factor authentication where available.

  3. Protect your credit and financial accounts: After a data breach, companies often provide affected parties with free credit monitoring services. Signing up for free credit monitoring offers important protections and does not affect any of your rights to bring a data breach lawsuit against the company if it is found to be legally responsible for the violation. You should contact a credit bureau to request a copy of your credit file, even if you notice no signs of fraud or unauthorized activity. Adding a fraud alert to your account will provide you with additional protection.

  4. Consider implementing a credit freeze: A credit freeze prevents anyone from accessing your credit report. Credit freezes are free and remain in effect until you remove them. Once a credit freeze is in place, you can temporarily lift it if you need to apply for any type of credit. While freezing credit on your accounts may seem like overkill, given the risks involved, it’s warranted. According to the Identity Theft Resource Center (“ITRC”), freezing credit on your account is “the most effective way to prevent a new credit/financial account from being opened.” However, only 3% of data breach victims freeze their accounts.

  5. Monitor your credit report and financial accounts regularly: Protecting yourself following a data breach requires continuous effort on your part. You should regularly check your credit report and all financial account statements for any signs of unauthorized activity or fraud. You should also call your banks and credit card companies to report that your information has been compromised in a data breach.

Below is the portion of the data breach notification sent by Lake Shore Savings Bank:

Expensive ,

The purpose of this letter is to notify you of a data security incident experienced by Lake Shore Savings Bank which may have involved your personal information, and, as a precaution, we are providing information on steps you can take to help protect your information. We take the privacy and security of your personal information very seriously and sincerely regret any concerns this incident may cause you.

What happened? On November 24, 2021, Lake Shore Savings Bank experienced a data security incident that prevented employees from accessing internal systems and data. Upon discovering this incident, Lake Shore Savings Bank immediately launched an investigation and hired a digital forensics firm to help determine what happened and what information may have been accessed. The Lake Shore Savings Bank also notified the FBI and the Office of the Comptroller of the Currency of the incident. During its investigation, Lake Shore Savings Bank identified unauthorized access to certain data in its systems. Although there is no evidence that your personal information has been misused, out of an abundance of caution, we are notifying you of the incident and providing information on steps you can take to protect your information.

The incident did not involve access to any Lake Shore Savings Bank account, and there is no evidence of unauthorized or suspicious activity in your Lake Shore Savings Bank account(s).

What information was involved? The information may include your name, address and bank account number.

What do we do? As soon as we discovered this incident, we took the measures described above. We have also implemented additional safeguards to help keep our network secure to reduce the risk of a similar event occurring in the future.

Plus, we offer identity theft protection services through IDX, the data breach and recovery expert. IDX Identity Protection Services include:< 12 mois/24 mois>> credit monitoring and CyberScan, a $1,000,000 insurance reimbursement policy and fully managed identity theft recovery services. With this protection, IDX will help you resolve issues if your identity is compromised.

What you can do: We encourage you to sign up for free identity protection services by calling 1-800-939-4170 or by visiting http://app.idx.us/account-creation/protect and using the registration code provided above. Please note that the registration deadline is June 7, 2022.

Please call 1-800-939-4170 or go to http://app.idx.us/account-creation/protect for help or any other questions you may have.

For more information: More information on how to protect your information appears on the next page. If you have any questions regarding this incident, please contact 1-800-939-4170, Monday through Friday (excluding holidays), 9 a.m. to 9 p.m. Eastern Time.

Please accept our sincere apologies and know that we deeply regret any concern or inconvenience this may cause you. Thank you for your continued trust and support.

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DO PAYDAY LOANS EVEN APPLY IF YOUR CREDIT SCORE IS BAD? https://howtooccupy.org/do-payday-loans-even-apply-if-your-credit-score-is-bad/ Tue, 08 Mar 2022 08:56:05 +0000 https://howtooccupy.org/?p=2325 GET A LOAN DECISION THAT IS GUARANTEED EVEN IF YOU HAVE BAD CREDIT If you think the process of obtaining the online cash loan with bad credit is complicated, then you’re not. There is no guarantee that you’ll get instant approval on the loan request, or even any type of approval however it doesn’t mean that […]]]>

GET A LOAN DECISION THAT IS GUARANTEED EVEN IF YOU HAVE BAD CREDIT

If you think the process of obtaining the online cash loan with bad credit is complicated, then you’re not. There is no guarantee that you’ll get instant approval on the loan request, or even any type of approval however it doesn’t mean that there’s no chance of getting a loan at an acceptable APR , as in Oak Park Financial they offer payday loans for people with bad credit.

Is there a loan to help with bad credit?

The phrase “bad credit” is a reference to personal loans that are available regardless of credit scores. Direct lenders that focus on bad credit look at other factors besides creditworthiness such as income sources and what you owe in existing outstanding debts when determining whether they can provide you with an loan even with a low credit rating or otherwise.

Every lender has their specific method for reviewing applications. This process is in place. And the greater the number of lenders you get in touch with, the better chance of being approved. Oak Park Financial can assist in contacting several lenders in one loan application.

Can I get a low credit loan that Guarantees immediate approval?

The simple answer is No. You cannot guarantee you can get money in a matter of minutes because no lender can promise you that the application that they make will be approved. If the lender believes that the chance of not paying for you is high, the application will likely be denied.

Go to our page about instant loans to learn more information.

Credit applications for those with bad credit can be complicated as it’s more difficult for the lender to evaluate their creditworthiness and the applicant will have a lower approval rates and higher rates of interest when they are approved even though they have low credit scores.

Here are some tips to improve your chances of getting approved for a loan even with low credit scores:

  • You must include the correct information in the application for a loan.
  • It is important to record every source of earnings that you make (benefits dividends, benefits , and the earnings from freelance work).
  • Get started on building credit today. It’s a lengthy process and the end product is enough to be worth it.
  • If you are in debt that are numerous, you wish to consolidate the debts.
  • Think about a secured bad credit loan for collateral.
  • Find a cosigner who has an excellent credit score.

What happens If there’s no Check for credit?

If you have a poor credit score, you should steer away from any lender that may conduct a credit inquiry on you. This could harm your credit score more.

Although the majority of our lenders perform an informal credit assessment which doesn’t impact the credit score of your customer There’s no assurance that some lenders will not conduct a real credit check.

What is the maximum amount I can borrow with a poor credit score?

If you opt to get secured loans the maximum amount you’re able to take out will be determined by your lender’s requirements, as well as the kind of loan you choose to get and the regulations of your state.

If you need an emergency loan, have a look at payday loans. an interest in $100-$100 payday loans

If, for instance payday loans are available in the state you reside in with Oak Park Financial, you could apply for a zero cash payday online with a maximum of $1500 (the amount may be lower dependent on the limit set by statute of your state).

An installment loan is a different possibility that’s very popular among people with bad credit. If you’re looking for months-to-month installment loans you can opt for a loan of up to $5000 and must be paid back in fixed monthly installments. These loans are secured. This means they don’t have co-signers nor collateral.

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Know the Score – Albuquerque Journal https://howtooccupy.org/know-the-score-albuquerque-journal/ Sun, 20 Feb 2022 07:05:58 +0000 https://howtooccupy.org/know-the-score-albuquerque-journal/ Because interest rates are low, credit companies may make tempting offers to entice you into taking out a loan or getting a credit card. Take your time to make a decision that is right for you and your financial health before going ahead with such offers. What is a credit score? A credit score is […]]]>

Because interest rates are low, credit companies may make tempting offers to entice you into taking out a loan or getting a credit card. Take your time to make a decision that is right for you and your financial health before going ahead with such offers.

What is a credit score?

A credit score is a three-digit number that summarizes information on your credit report. The number changes depending on what is happening in your financial life.

There are two different names for credit score, FICO or VantageScore. The FICO score is named after the company that invented this three-digit scoring system in the mid-1980s, Fair Isaac Inc. The three major credit reporting agencies created their own scoring system, called VantageScore, designed to produce a more consistent score across all three credit reporting agencies. Each credit reporting agency collects different financial information about you and therefore reports a different credit score.

Credit scores are designed to estimate your likelihood of repaying a debt.

What are the ranges?

From NerdWallet:

• A score of 720 or higher is generally considered excellent credit.

• A score between 690 and 719 is considered good credit.

• Scores between 630 and 689 are fair credit.

• And scores of 629 or less are bad credit.

Other sites had different ranges and names with similar messages about the meanings.

What factors come into play?

• Pay bills on time. Any late payment can affect your score. Late payments of 30 days or more stay past due in your credit history for years.

• How much you owe. Just because you have a high credit limit on your credit card doesn’t mean you should use it. The sites I looked at recommended using 30% or less of the credit limit. Lower is better.

• Credit age. The longer you have credit, the better your score.

• Composition of credit. Having more than one type of credit such as a loan and a credit card.

• How long ago you applied for credit. When you apply for credit, an investigation is done on your credit file and may cause your score to drop temporarily. For example, applying for a new credit card that offers airline miles, cash rewards for signing up, or other incentives could negatively affect your credit score.

What does this really mean?

The score can affect your approval for a loan or credit and the interest rate you pay on the loan. People with high scores generally receive lower interest rates on mortgages, credit cards, and loans because they are considered to be at low risk of default. Average scores will likely qualify for new credit, but not ideal rates. Low scores mean a damaged credit history, such as defaults on different types of credit. It can also be the result of bankruptcy, which stays on a credit report for seven years.

Establish credit

Start small. Your bank, credit union, or other financial institution with which you have an account may offer you a credit card. When you are approved for a loan or credit card, make payments on time and in full. Credit is also established by paying your utility bills on time.

Watch your score

According to the Consumer Financial Protection Bureau, there are four main ways to get a credit score. (See the government website below for additional links.)

1. Check your credit card or other loan statement. Many credit card companies and loan companies provide credit scores on monthly statements or by logging into your account.

2. Talk to a nonprofit advisor. Nonprofit credit counselors and HUD-licensed housing counselors can often provide you with a free credit report and score and help you review them. (I couldn’t find a New Mexico nonprofit credit counselor on the website, but I did find Housing Counselors for New Mexico.)

3. Use a credit score service. Many services and websites advertise a “free credit score”. Review them carefully, as you may be charged a fee for ongoing monitoring.

4. Buy sheet music. You can buy directly from credit reporting companies. Know what you are buying and acknowledge efforts to sell additional products or services.

Obtain and review your credit report:

You are entitled to a free copy of your credit report every 12 months from each of the three national credit reporting companies. It is important to review your credit reports, which you can do free of charge at www.AnnualCreditReport.com. If there are errors in your credit reports, they can unnecessarily lower your scores. You can submit information to correct errors.

Sources: www.nerdwallet.com, www.investopedia.com and www.consumerfinance.gov.

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Today’s mortgage rates are lower | February 18, 2022 https://howtooccupy.org/todays-mortgage-rates-are-lower-february-18-2022/ Fri, 18 Feb 2022 13:36:54 +0000 https://howtooccupy.org/todays-mortgage-rates-are-lower-february-18-2022/ If you shop around for a 30-year fixed-rate mortgage, you’ll find average rates of 4.424%, down 0.022 percentage points from yesterday. Mortgage rates are lower today for almost all types of loans. The rate on a 15-year fixed rate mortgage is averaging 3.456% and the 5/1 variable rate mortgage has fallen to 3.186%, down 0.033 […]]]>

If you shop around for a 30-year fixed-rate mortgage, you’ll find average rates of 4.424%, down 0.022 percentage points from yesterday.

Mortgage rates are lower today for almost all types of loans. The rate on a 15-year fixed rate mortgage is averaging 3.456% and the 5/1 variable rate mortgage has fallen to 3.186%, down 0.033 percentage points.

If you’re looking for a refinance loan, the average rate for a 30-year fixed rate loan is 4.49%. The 15-year refi is now at 3.537% while the 5/1 ARM is at 3.236%

  • The last rate on a 30-year fixed rate mortgage is 4.424%.
  • The last rate on a 15-year fixed rate mortgage is 3.456%. ⇓
  • The latest rate on a 5/1 ARM is 3.186%. ⇓
  • The latest rate on a 7/1 ARM is 3.463%. ⇓
  • The latest rate on a 10/1 ARM is 3.558%. ⇓

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a credit score of 700 — roughly the national average score — could pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate that 8,000 lenders offered applicants the previous business day. Freddie Mac’s weekly rates will generally be lower, as they measure the rates offered to borrowers with higher credit scores.

Are you looking for a loan? Check out Money’s lists of top mortgage lenders and top refinance lenders.

Today’s 30-Year Fixed Rate Mortgage Rates

  • The 30-year rate is 4.424%.
  • It’s a day offold by 0.022 percentage points.
  • It’s a month to augment by 0.405 percentage points.

A predictable interest rate, long payback period and relatively low monthly payments make the 30-year fixed rate mortgage the most popular type of home loan in America. Compared to a shorter-term loan, however, the interest rate will be higher and you’ll pay for it longer, making the 30-year option the more expensive option over time.

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Average mortgage rates

Data based on US mortgages closed on February 17, 2022

Type of loan February 17 Last week Change
15-year fixed conventional 3.46% 3.37% 0.09%
30-year fixed conventional 4.42% 4.31% 0.11%
ARM rate 7/1 3.46% 3.25% 0.21%
ARM rate 10/1 3.56% 3.37% 0.19%

Your actual rate may vary

15 years today fixed rate mortgage rates

  • The 15-year rate is 3.456%.
  • It’s a day offold by 0.066 percentage points.
  • It’s a month infold by 0.419 percentage points.

Some borrowers prefer the shorter payback period and lower interest rate of a 15-year fixed rate mortgage. The caveat is that the monthly payments are higher than those of an equivalent loan over 30 years.

The latest rates of adjustable rate mortgages

  • The latest rate on a 5/1 ARM is 3.186%. ⇓
  • The latest rate on a 7/1 ARM is 3.463%. ⇓
  • The latest rate on a 10/1 ARM is 3.558%. ⇓

An adjustable rate mortgage will start out with a fixed interest rate for a limited number of years before becoming adjustable and starting to reset periodically. For example, a 5/1 ARM will have a fixed rate for five years and then reset every year. The biggest disadvantage of an ARM is that the interest rate could increase significantly once it becomes adjustable.

The Latest VA, FHA, and Jumbo Loan Rates

The average rates for FHA, VA, and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 4.261%. ⇓
  • The rate for a 30-year VA mortgage is 4.76%. ⇑
  • The rate for a 30-year jumbo mortgage is 3.978%. ⇔

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed rate refinance is 4.49%. ⇓
  • The refinance rate on a 15-year fixed rate refinance is 3.537%. ⇓
  • The refinance rate on a 5/1 ARM is 3.236%. ⇓
  • The refinance rate on a 7/1 ARM is 3.519%. ⇓
  • The refinance rate on a 10/1 ARM is 3.621%. ⇓
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Average Mortgage Refinance Rates

Data based on US mortgages closed on February 17, 2022

Type of loan February 17 Last week Change
15-year fixed conventional 3.54% 3.47% 0.07%
30-year fixed conventional 4.49% 4.38% 0.11%
ARM rate 7/1 3.52% 3.32% 0.2%
ARM rate 10/1 3.62% 3.45% 0.17%

Your actual rate may vary

Where are mortgage rates going this year?

Mortgage rates have fallen through 2020. Millions of homeowners have responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people bought homes they might not have been able to afford if rates were higher. In January 2021, rates briefly fell to lowest levels on record, but rose slightly for the rest of the year.

Looking ahead, experts believe that interest rates will rise further in 2022, but also modestly. Factors that could affect rates include continued economic improvement and further labor market gains. The Federal Reserve has also started to scale back its purchases of mortgage-backed securities and said it plans to raise the federal funds rate three times in 2022 to combat rising inflation from March.

While mortgage rates are likely to rise, experts say the increase won’t happen overnight and it won’t be a dramatic jump. Rates are expected to remain near historic lows throughout the first half of the year, rising slightly later in the year. Even with rising rates, it will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed acted quickly when the pandemic hit the United States in March 2020. The Fed announced its intention to keep money flowing in the economy by lowering the Federal Fund short-term interest rate between 0% and 0.25%, which is also low as you go. The central bank also pledged to buy mortgage-backed securities and treasury bills, supporting the housing finance market, but began to scale back those purchases in November.
  • The 10-year Treasury bond. Mortgage rates keep pace with government 10-year Treasury bond yields. Yields first fell below 1% in March 2020 and have since risen. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are weak, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels reached historic highs early last year and have yet to recover. GDP has also taken a hit, and although it has rebounded somewhat, there is still plenty of room for improvement.

Tips for getting the lowest possible mortgage rate

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes some work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags can lower your credit score. Borrowers with the highest credit scores are the ones who will get the best rates, so it’s essential to check your credit report before you begin the home hunting process. Taking steps to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which is the share of the house price that the lender has to finance. A lower LTV usually translates to a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rate. Also consider different types of lenders, such as credit unions and online lenders in addition to traditional banks.

Also. take the time to learn about the different types of loans. Although the 30-year fixed rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year mortgage or an adjustable rate mortgage. These types of loans often come with a lower rate than a conventional 30-year mortgage. Compare the costs of all to see which best suits your needs and financial situation. Government loans — such as those backed by the Federal Housing Authority, Department of Veterans Affairs, and Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the right lender will help ensure that your mortgage rate doesn’t increase until the loan is closed.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by more than 8,000 lenders across the United States for which the most recent rates are available. Today we are posting rates for Thursday, February 17, 2022. Our rates reflect what a typical borrower with a credit score of 700 might expect to pay for a home loan at this time. These rates were offered to people depositing 20% ​​deposit and include discount points.

More money :

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This credit score is optimal for most Americans, says this CFP https://howtooccupy.org/this-credit-score-is-optimal-for-most-americans-says-this-cfp/ Thu, 03 Feb 2022 04:12:01 +0000 https://howtooccupy.org/this-credit-score-is-optimal-for-most-americans-says-this-cfp/ Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products. A credit score of 850 is a coveted achievement for many because it signifies a “perfect” borrower. But very few […]]]>

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products.

A credit score of 850 is a coveted achievement for many because it signifies a “perfect” borrower. But very few Americans are able to achieve a perfect credit score, and according to Faron Daugs, CFP, founder and CEO of Harrison Wallace Financial Group, it’s really not necessary.

In fact, Daugs told Select that a score of 850 is “almost impossible,” but reassures consumers that anyone can achieve a strong credit score to earn the same financial opportunities.

To select details what is the most optimal credit score to get the best financial products and interest rates available, how to get your credit score up to par, and how you can get started today.

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Here is the most “optimal” credit score

All Americans are rated on their FICO credit score, which ranges from 300 to 850. The higher your score, the more likely you are to obtain favorable financing options for a home, car or credit card.

But Daugs is a firm believer that an 850 credit score is an unnecessary benchmark for Americans. Instead, he says that 760 is the most optimal credit score.

Daugs told Select, “The optimal score that will give you the highest credit limits and lowest interest rates is actually 760. Once you reach a score of 760 (according to FICO ), you will receive the same rates and limits as someone with an 800, 825 or even the ultimate 850.”

That’s a little contrary to popular belief, as a credit score of 760 is considered “very good,” according to Equifax according to their credit score ranges on their website. The ranges are:

By having at least a “very good” credit rating, you demonstrate to financial institutions that you pay your bills on time, that you maintain a low rate of credit utilization and that you have a good credit history. And in doing so, a credit score of 760 is just as valuable as a score of 800 or any higher when it comes to applying for financing options.

In short, anything over 760 is just icing on the cake.

How to Get That Credit Score

Earning a credit score of 760 doesn’t happen overnight. It takes persistent effort and strong personal finance skills to establish your credit history without any blemish, but it can be done.

In fact, the average credit score in America in 2020 was 710, according to Experian. So, wherever you are on the path to building (or rebuilding) credit, there are several things you can do to move your credit score in the right direction:

  • Pay off or refinance credit card debt: One of the largest parts of your credit score is made up of all debts owed (30%). So, if you have a lot of credit card debt, it will significantly increase your credit score. You may want to consider a balance transfer credit card to avoid compound interest charges. Or if you have multiple credit cards with balances, consider applying for a personal loan to consolidate your debt.
  • Dispute credit report errors: Millions of Americans have errors on their credit report that can negatively affect their overall score. Be sure to check your credit report and consider using a credit monitoring service to track any new credit applications or potential fraud.
  • Apply for higher credit limits: Each of your credit cards has a credit limit you can spend, and the amount of credit you use against that limit affects your overall credit score. This is called your credit utilization rate, and if you keep the amount of credit you use low relative to your credit limit, the more your credit score can rise. The best part is that you can request a higher line of credit from your card issuer and it won’t create a new request on your credit report.

For more tips, read our guide on how to build and get good credit. And consider a credit monitoring service for more information on your score:

Capital One CreditWise®

Information on CreditWise was independently collected by CNBC and was not reviewed or provided by the company prior to publication.

  • Cost

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On the Identity Force secure site

  • Cost

    For a limited time, 40% off all plans – offer ends 6/12. UltraSecure+Credit Individual starts at $139.90/year and UltraSecure+Credit Family at $209/year. Click “Learn more” for more details.

  • Credit bureaus monitored

    Experian, Equifax and TransUnion

  • Credit score model used

  • Dark web analysis

  • Identity insurance

    Yes, $1 million for all plans

Conditions apply. To learn more about IdentityForce®, visit their website or call 855-979-1118.

At the end of the line

Your credit score is the foundation of many financial opportunities. Without a strong credit score, you risk being denied opportunities to obtain affordable financing for a major purchase, possibly being rejected for a new job, not being approved for housing options and other fundamental decisions.

However, if your credit score isn’t perfect, there’s concrete steps you can take today to improve it. And once your credit score is up to snuff, you can start making more important financial decisions to increase your net worth and prepare for retirement.

Check out Select’s in-depth coverage at personal finance, technology and tools, The well-being and more, and follow us on Facebook, instagram and Twitter to stay up to date.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

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Liz Weston: Sorry. Social Security doesn’t care about the details of your divorce decree https://howtooccupy.org/liz-weston-sorry-social-security-doesnt-care-about-the-details-of-your-divorce-decree/ Sun, 09 Jan 2022 16:00:00 +0000 https://howtooccupy.org/liz-weston-sorry-social-security-doesnt-care-about-the-details-of-your-divorce-decree/ [ad_1] Dear Liz: I am in my third marriage. My first two marriages lasted 10 years each. My spouses have worked in jobs requiring them to contribute to social security. I am currently retired (since 1999) and have worked for a municipal administration my entire career. I am currently receiving a city pension. Am I […]]]>


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Dear Liz: I am in my third marriage. My first two marriages lasted 10 years each. My spouses have worked in jobs requiring them to contribute to social security. I am currently retired (since 1999) and have worked for a municipal administration my entire career. I am currently receiving a city pension. Am I entitled to receive anything from Social Security during the time I was married to my previous spouses? It seems fair since I had to pay each of them spousal support.

Responnse: This is a new argument! Sadly, the Social Security system doesn’t care about the details of your divorce judgments.

You can call Social Security and ask if you are entitled to a benefit, but don’t be hopeful if your pension comes from a job that did not contribute to Social Security. A provision known as government pension compensation would likely eliminate any divorced spouse or divorced survivor benefit you might receive.

Dear Liz: Our 23 year old daughter has a low limit credit card from her bank, mainly to establish her credit history. For the same purpose, we have also added it as an authorized user on one of our credit cards (yes, we can trust it). When she recently checked her credit reports at annualcreditreport.com, one of the agencies produced a report but another said they could not find it. Is this normal for a relatively new credit user? Could it be because she has a middle name made up of a hyphen? Should we be worried?

Responnse: It may take 30 days or more for the information to update at the credit bureaus, so she should try again and check the third credit bureau as well. If two offices cannot find it after 30 days, then it is possible that both credit cards fall under one office. In this case, she should consider obtaining a credit loan from a credit union that reports to the three bureaus.

If not, the problem is most likely with the credit bureau, and she should try ordering the missing credit report through the US Mail. The office that could not find it will have instructions for requesting a report this way on its site.

Liz Weston, Certified Financial Planner, is a personal finance columnist for NerdWallet. Questions can be directed to him at 3940 Laurel Canyon, No. 238, Studio City, CA 91604, or by using the “Contact” form at asklizweston.com.

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For Young Adults, Credit Building Begins Now https://howtooccupy.org/for-young-adults-credit-building-begins-now/ Sat, 08 Jan 2022 13:34:00 +0000 https://howtooccupy.org/for-young-adults-credit-building-begins-now/ [ad_1] Sooner than you think, your credit score will start to count. A solid credit rating can mean the difference between qualifying for or missing out on a low-interest apartment or car loan. So, to get credit ready when you need it, now is the time to start building a good, long credit history. There […]]]>


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Sooner than you think, your credit score will start to count.

A solid credit rating can mean the difference between qualifying for or missing out on a low-interest apartment or car loan. So, to get credit ready when you need it, now is the time to start building a good, long credit history.

There is more than one way to get credit, and it can be as simple as reporting your current bill payments to the major credit bureaus. But keep in mind: building credit takes diligence, especially since missing payments can hurt your score for years to come.

What is credit and why is it important?

Your credit score is a number that typically ranges from 300 to 850 and is calculated based on how reliably you have paid off past debts, such as credit card bills. Lenders use your credit score to predict the likelihood of you paying off your debt.

Your credit score helps determine what loans you can receive, what interest you will be charged, what credit cards you can qualify for, and what properties you can rent. An employer can even check your credit history. Having a good credit rating can save you money down the road, mainly through lower interest rates when you get a loan.

If you are starting out with no credit history, you are not alone. In the United States, nearly 40% of people aged 20 to 24 have little or no credit history to generate a score, according to the Consumer Finance and Protection Bureau. Unfortunately, the same is true for around 20% of the population.

Building up your credit can seem overwhelming if you haven’t thought about it before, but there are plenty of strategies you can employ even if you’re just getting started. Start by establishing good debt management habits, such as not taking on more debt than you can afford, says Brittany Mollica, a certified financial planner based in Chapel Hill, North Carolina. Missed payments will damage your score and can become a burden when you need to borrow money in the future.

“It’s really important to have good habits to always pay your bills,” says Mollica. “You don’t want to have to come out of a hole with all kinds of credit card debt you’ve racked up, especially by starting early.”

Credit cards – and alternative cards

Credit cards can be a great tool for building credit, but they can also hurt your score if you take on more debt than you can handle.

If a parent or other trusted person in your life has a high credit limit and a long history of timely payments, you could become an authorized user on their account and benefit from their good credit. It’s one of the easiest ways to lengthen your credit history, says Blaine Thiederman, a certified financial planner in Arvada, Colorado.

Becoming an authorized user will also affect your credit utilization rate, or the amount of money you owe lenders divided by the total credit you have, which can improve your credit score.

If you have your own income, you can apply for a credit card at the age of 18; otherwise, you have to wait until you are 21. A secured credit card is usually the best credit card to start with. A cash deposit secures these cards, and because the credit card company may accept this deposit if you miss payments, people with short or poor credit histories may be eligible.

The deposit you need to make for a secured credit card could be a burden, and if so, a alternative card maybe better for you. These cards use income and bank account information to determine your creditworthiness rather than your credit score.

Monthly invoices

If you live independently, payments for rent, utilities, and phone bills can all be reported to the credit bureaus. So pay these bills can increase your credit if they are on time and you have reported them.

Unlike credit card payments, these payments are not flagged automatically and may require a third-party service, such as Experian Boost, to notify the credit bureaus of your payments.

Keep in mind that these services sometimes require a fee and reporting your bill payments may not always affect your credit score; instead, they may just show up on your credit report.

Loans

Making regular loan payments can also help build your credit. And even if you don’t have a credit history, some loans are available.

Loans to credit builders rely on income rather than credit for approval. If you are approved, the loan is in a bank account and becomes available after you have paid it off. Your monthly payments are reported to the major credit bureaus.

Student loans are another loan that you can use to build your credit when you are starting out. Federal student loans do not require credit to qualify, unlike most private student loans. Paying off your loans will help boost your credit history, and you can get started while you’re still in school by making interest-only payments.

This article was written by NerdWallet and was originally published by The Associated Press.

More from NerdWallet

Colin Beresford writes for NerdWallet. Email: cberesford@nerdwallet.com.

The article For young adults, construction credit starts now originally appeared on NerdWallet.

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Oregon FBI Tech Tuesday: Avoid Online Year-End Scams https://howtooccupy.org/oregon-fbi-tech-tuesday-avoid-online-year-end-scams/ Tue, 28 Dec 2021 19:49:36 +0000 https://howtooccupy.org/oregon-fbi-tech-tuesday-avoid-online-year-end-scams/ [ad_1] PORTLAND, Oregon (KTVZ) – This week’s Oregon FBI Tech Tuesday segment focuses on building a digital defense as we close 2021. You’ve made it through the holiday season and you’ve almost arrived at the New Year. There are just a few last minute things you need to watch out for. First of all – […]]]>


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PORTLAND, Oregon (KTVZ) – This week’s Oregon FBI Tech Tuesday segment focuses on building a digital defense as we close 2021.

You’ve made it through the holiday season and you’ve almost arrived at the New Year. There are just a few last minute things you need to watch out for.

First of all – charity fraud. You have until 31st to make those year-end donations to charities so that you can claim that year’s tax deductions.

Charity scams can come to you in many forms – emails, social media posts, crowdfunding platforms, cold calls, or even text messages. Always be careful and do your research.

  • Donate to established charities or groups whose work you know and trust.
  • Beware of organizations with copy names or names similar to reputable organizations.
  • Check the charity’s background on the Federal Trade Commission website.
  • Donate using a check or credit card. If a charity or organization asks you to donate cash, gift card, virtual currency, or wire transfer, it is likely a scam.

Let’s move on – there are two more year-end issues we want to alert you to. The first is payroll or benefits fraud. Employees may not be surprised to receive a notification, allegedly from HR, to log in and verify their accounts online as we come to the change in schedule from year to year. As soon as the employee clicks on the wrong link provided in a convenient way, the malware downloads to the system and the wrong actor now has access to your employee’s personal and financial information.

The second concern is with the payroll office itself. While your financial staff are preparing year-end reports, they may receive a bogus email – allegedly from the IRS – asking for Social Security numbers, bank account information, etc.

In both cases, the best defense is a strong attack:

  • Train your employees to never click on links or attachments.
  • Train employees to never give out login credentials or personally identifying information in response to an email.
  • Have employees refer suspicious requests for personal information to IT or HR.
  • Make sure that the login credentials used for payroll purposes are different from those used for other purposes, such as employee surveys.

That brings this year to a close. Have a great and safe New Year!

And, as always, if you are the victim of this or any other online scam, you should report the incident to the FBI Internet Crime Complaints Center at www.ic3.gov or call your local FBI office.

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How young people can build their credit https://howtooccupy.org/how-young-people-can-build-their-credit/ Tue, 28 Dec 2021 13:00:59 +0000 https://howtooccupy.org/how-young-people-can-build-their-credit/ [ad_1] Dear Liz: Our 23 year old daughter has a low limit credit card from her bank, mainly to establish her credit history. For the same purpose, we have also added it as an authorized user on one of our credit cards (yes, we can trust it). When she recently checked her credit reports at […]]]>


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Dear Liz: Our 23 year old daughter has a low limit credit card from her bank, mainly to establish her credit history. For the same purpose, we have also added it as an authorized user on one of our credit cards (yes, we can trust it). When she recently checked her credit reports at annualcreditreport.com, one of the agencies produced a report but another said they could not find it. Is this normal for a relatively new credit user? Could it be because she has a middle name made up of a hyphen? Should we be worried?

Responnse: It may take 30 days or more for the information to update at the credit bureaus, so she should try again and check the third credit bureau as well. If two offices cannot find it after 30 days, then it is possible that both credit cards fall under one office. In this case, she should consider obtaining a credit loan from a credit union under the three bureaus.

If not, the problem is probably with the credit bureau, and she should try ordering the missing credit report through the US Mail. The office that could not find it will have instructions for requesting a report this way on its site.

When retirement takes precedence over Social Security

Dear Liz: I am in my third marriage. My first two marriages lasted 10 years each. My spouses have worked in jobs requiring them to contribute to social security. I am currently retired (since 1999) and have worked for a municipal administration my entire career. I am currently receiving a city pension. Am I entitled to receive anything from Social Security during the time I was married to my previous spouses? It seems fair since I had to pay each of them spousal support.

Responnse: This is a new argument! Sadly, the Social Security system doesn’t care about the details of your divorce judgments.

You can call Social Security and ask if you are entitled to a benefit, but don’t be hopeful if your pension comes from a job that did not contribute to Social Security. A provision known as Government Pension Compensation would likely wipe out any Divorced Spouse or Divorced Survivor Benefit you might receive.

Add a sister to a property deed

Dear Liz: A reader recently asked about the possibility of giving a rental house to the sister who has lived there for 10 years. You mentioned that the reader should file a donation tax return since there is a maximum of $ 15,000 for a donation exemption. Couldn’t the owner just add the sister to the title so that when they pass the sister becomes the sole owner of the house without having to deal with taxes, probate etc. Likewise, if the sister dies first, the current owner will keep the property to give, sell, give as he sees fit.

Responnse: Adding the sister to the deed would be considered a donation, so the reader would still have to file an income tax return.

Owning the house together would avoid probate and give the surviving sister a tax break, and that half of the house would get what is known as an increase in the tax base upon the death of the first sister. Another option, if the reader wishes to retain ownership, would be a death transfer deed, available in many states. The reader was clear that she wanted to give an outright gift, but she could consult with a lawyer specializing in real estate or estate planning about other options.

Taxes on retirement account withdrawals

Dear Liz: I would like to give money to my grandchildren, but I don’t want to pay income tax on my IRA or 401 (k) withdrawals. Will they get it tax free when I die?

Responnse: Unfortunately no.

Withdrawals from retirement accounts are generally taxable whether the person making the withdrawals is the original contributor or an heir. In addition, non-spouses who are beneficiaries of retirement accounts generally have to withdraw the money within 10 years.

Liz Weston, Certified Financial Planner, is a personal finance columnist for NerdWallet. Questions can be directed to him at 3940 Laurel Canyon, No. 238, Studio City, CA 91604, or by using the “Contact” form at asklizweston.com.

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