archiveJessica Merritt

What Are Current Mortgage Rates? Mortgage rates stayed relatively steady around the 7% mark this week, according to the Mortgage Bankers Association. Higher mortgage interest rates during the past several weeks have stalled home purchase activity ahead of the spring season. Mortgage interest rates are forecasted to decline somewhat throughout 2024, as the Federal Reserve projects rate cuts will begin sometime this year. Here are the current mortgage rates, as of Feb. 28: 30-year fixed: 7.04% with 0.67 points (previous week: 7.06% with 0.66 points). 15-year fixed: 6.7% with 0.68...

Key Takeaways The median savings account balance for all families in the U.S. was $8,000 in 2022. Generally, higher-income earners and older individuals save more than younger ones. Some experts suggest three to six months' living expenses as a goal. Are you curious how your savings stack up to other Americans? According to the Federal Reserve's most recent Survey of Consumer Finances, the median savings account balance for all families was $8,000 in 2022.Savings account balances can vary greatly depending on income, age, education and race. For example, people with...