banking

401(k) Hardship Withdrawals Hit an All-Time High of 'Worrying', Says Vanguard

401(k) Hardship Withdrawals Hit an All-Time High of ‘Worrying’, Says Vanguard

Amid stubbornly high inflation, a record proportion of Americans are turning their 401(K) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of about five million employer-sponsored 401(k) accounts that Vanguard manages, the researchers said that 0.5% made hardship withdrawals in October. It’s a “worrying” all-time high, said retirement savings and …

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Banks are more than $1 trillion short of capital, analyst says, who fears shortfall will only get worse

Banks are more than $1 trillion short of capital, analyst says, who fears shortfall will only get worse

The new year is fast approaching and one idea for where to invest is the banking sector, whose margins benefit from high interest rates, at undemanding valuations. This statement may surprise those who think that the US banking industry has about $2.2 trillion in capital. But it reduces that figure in several ways. First, he …

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A cycle of Fed rate hikes has never hit equities this hard before.  Here's what's different this time.

A cycle of Fed rate hikes has never hit equities this hard before. Here’s what’s different this time.

Anyone watching the market knows that stocks have been hammered since the Federal Reserve started in March, which turned into an aggressive series of interest rate hikes, but Deutsche Bank strategists say they might be surprised to learn that these rate hikes are probably not the culprit. The S&P 500 SPX, -0.16% has experienced a …

A cycle of Fed rate hikes has never hit equities this hard before. Here’s what’s different this time. Read More »

How two teachers killed a $53,000 debt monster in 3 years

How two teachers killed a $53,000 debt monster in 3 years

This article is reproduced with permission from NerdWallet. In this series, NerdWallet sheds light on people’s debt repayment journeys. This month, Jae Bratton shares how she and her husband focused on erasing debt, fueled by the hope of starting a family. My story of letting go of over $53,046 in debt over two teachers’ salaries …

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Reducing the Fed's balance sheet via quantitative tightening is "a total mistake", says Mizuho

Reducing the Fed’s balance sheet via quantitative tightening is “a total mistake”, says Mizuho

The Federal Reserve’s attempt to shrink its balance sheet through so-called quantitative tightening, or QT, is “a complete mistake,” according to Mizuho’s chief U.S. economist. “There is a non-negligible likelihood that market liquidity will be adversely affected well before the $2 trillion target is reached, preventing the Fed from reaching its target,” said Steven Ricchiuto, …

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Investment: Active or Passive?

Investment: Active or Passive?

The merits of active and passive investing have been debated for years. On average, 35% of active equity funds outperformed their passive counterpart in the 12 months ending June this year, according to Morningstar’s Asset/Liability Barometer, which tracks the performance of 30,000 European-domiciled funds managing €7 billion (£6 billion) in assets. Active and passive: the …

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Mortgage rates fall for the second week in a row |  CNN Business

Mortgage rates fall for the second week in a row | CNN Business

Mortgage rates fell again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending Nov. 23, down from 6.61% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, boosted …

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Mortgage rates fall for the second week in a row |  CNN Business

Mortgage rates fall for the second week in a row | CNN Business

Mortgage rates fell again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending Nov. 23, down from 6.61% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, boosted …

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My wife agreed to vouch for her son's rental without telling me.  His car was seized for non-payment of his loan.  What should I do?

My wife agreed to vouch for her son’s rental without telling me. His car was seized for non-payment of his loan. What should I do?

Dear Quentin, About four days ago I received an email from my wife’s bank saying that someone had requested her login username through a password reset. When I asked my wife about this she said she forgot her username and was trying to get my stepson access to her online portal so he could download …

My wife agreed to vouch for her son’s rental without telling me. His car was seized for non-payment of his loan. What should I do? Read More »

The London rental market has become a "nightmare".  Here's why |  CNN Business

The London rental market has become a “nightmare”. Here’s why | CNN Business

London CNN Business — For Rebeca Blázquez, the last few weeks have been a “nightmare”. Based in Madrid but hoping to find work in London before starting her masters, the 22-year-old university graduate spent a month searching online for a room to rent. in London on a budget of £900 ($1,070). She sent dozens of …

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