By Diana Olick, CNBC Mortgage rates fell for the first time in nearly a month, and that lit a fire under current borrowers who may have thought they missed the boat on refinancing their loans. Applications to refinance jumped 11% last week from the previous week, according to the Mortgage
By Greg Iacurci, CNBC President Joe Biden and congressional Democrats are hoping to pass $1.9 trillion of additional pandemic relief, including extra jobless benefits. Still, many unemployed workers haven’t yet gotten benefit payments from the last stimulus package, which former President Trump signed more than a month ago. States like
By Adam S. Minsky, Esq., Forbes Democratic Senators unveiled a sweeping bankruptcy bill this week that would dramatically reform the United States bankruptcy system, and make it easier for struggling Americans to discharge student loans and medical debt through bankruptcy. The Medical Bankruptcy Fairness Act of 2021, proposed in response
By Zack Friedman, Forbes The new stimulus package says this about student loans and student loan cancellation. Here’s what you need to know — and what it means for you. Student Loans The new, $1.9 trillion stimulus package that President Joe Biden proposed doesn’t include any student loan cancellation. The stimulus plan
By Liz Capo McCormick, Craig Torres, Mathieu Benhamou, and Demetrios Pogkas, Bloomberg In the battle against Covid-19, governments around the globe are on the cusp of becoming more indebted than at any point in modern history, surpassing even World War II. From Germany to Japan, Canada to China, fiscal authorities
By Megan DeMatteo, CNBC Personal loans were the fastest-growing debt category in 2019, but new data from Experian found that changed in 2020. While personal loans saw a 12% year-over-year increase in 2019, the category only grew 1% in 2020 (the slowest for any debt category last year) with fewer people taking out loans.
By Diana Olick, CNBC Sharp gains in home prices and a slight rise in interest rates combined to weaken demand for mortgages last week. Total mortgage application volume fell 4.1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Homebuyers are seeing prices rise at the
By Alyssa Fowers, Washington Post Last week, the Biden administration took over an economy that has been severely hobbled by the coronavirus pandemic. While unemployment has risen for all types of workers, jobs have recovered slowly but steadily for Americans with some college education, according to Labor Department data. That
Small-business relief loans start flowing again, with $5 billion worth approved in the first week. The revived Paycheck Protection Program is off to a smoother — and slower — start than it had last spring, when desperate borrowers deluged banks with loan applications and overwhelmed the government’s computer systems. The
By Thomas Franck, CNBC The Biden administration could be open to adjusting eligibility levels for the next round of coronavirus stimulus checks to ensure the relief flows to families who need the emergency funds the most, the president’s top economic advisor said Tuesday morning. Brian Deese, who joined CNBC’s “Squawk
