Images by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways You can get home equity loans on investment and rental properties, though they may be harder to obtain. To get this type of loan, you’ll usually need a stronger-than-average financial profile and substantial assets. A rental or investment property home equity…
Assignment of benefits agreement (AOB): Allows a homeowner to transfer their insurance claim rights to a contractor or repair company, giving that third party the authority to negotiate with the insurer and collect payment directly. Actual cash value (ACV): The value of damaged property at the time of loss after…
Key takeaways Home equity loans can be obtained from various lenders such as banks, credit unions, mortgage lenders and online-only lenders. The best home equity lender for you is likely the one that offers you the best competitive rates and loan terms or one you already have a strong relationship…
Prepare to File Your Taxes in March Whether you decide to go DIY or not for filing your taxes, start sooner rather than later. By the first week in March you should have all necessary tax forms from your employer, including your T4, T4A, T5, RRSP contribution slips, donation receipts,…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
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Homebuyers often focus on home prices and mortgage rates when thinking about affordability. But for millions of homeowners, another housing cost is creeping higher and quietly reshaping the math: homeowners association (HOA) fees. Once considered a small maintenance expense, HOA dues are increasingly acting like…
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Try to Offer Advice or Support Instead of Criticism While younger generations are often criticized for their lack of financial literacy, getting into…
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Everything Americans thought they knew about personal finance was upended when the Federal Reserve started aggressively hiking interest rates to cool post-pandemic inflation. After more than a decade of ultralow rates, borrowers suddenly found themselves stuck in an unfamiliar, high-rate world — priced out of homes and cars, pushed deeper…
Image by Getty Images; Illustration by Bankrate Mortgage rates are unlikely to return to their pandemic lows in 2026, but they could still deliver some relief to borrowers. It’s possible that rates will even fall below the 6% threshold. “I expect the average 30-year fixed rate to fall below 6%…
Images by Getty Images/Illustration by Hunter Newton/Bankrate In 2024, three Federal Reserve rate cuts spurred declining yields on many deposit accounts, although savers were able to benefit from locking in strong yields on certificates of deposit (CDs). While the best CD rates are expected to drop further in 2025, they’re…
Most people have bills and utilities to pay every month. While many people pay these bills directly from their checking accounts or with a debit card, you can also use credit cards. One of the easiest ways to maximize your credit card rewards is to use cards for everyday spending…
If you’re looking for a credit card that can cover the majority of your needs, the Chase Freedom Unlimited® is a great option to consider. It consistently ranks among the best credit cards on the market, providing outstanding value for no annual fee. Making the card even more appealing, you…
Credit counseling helps you start the year with a plan by transforming vague financial resolutions into a concrete, actionable roadmap. By partnering with a certified credit counselor, you gain a structured budget, a clear understanding of your debt-to-income ratio, and access to tools such as Debt Management Plans (DMPs) that…
Homeowners tapping their equity in 2026 should expect borrowing to get more affordable, with rates reaching their lowest levels since at least 2023, according to Ted Rossman, Bankrate’s senior industry analyst. Rossman — who has covered the economy, interest rates, consumer debt and the Federal Reserve for more than a…
Returns on certificates of deposit (CDs) saw gradual declines in 2025, before and after three Federal Reserve rate cuts in the second half of the year. Yields are likely to keep falling in 2026 — although the good news for CD savers is you can still lock in rates that…
Top yields for savings and money market accounts are expected to continue the downward slide in 2026. Still, top savings rates will likely outpace the rate of inflation according to the latest forecast from Bankrate senior industry analyst, Ted Rossman. The highest rate for nationally available savings and money market…
Selling real estate can result in a significant profit, but it may also trigger capital gains taxes depending on whether the property qualifies for IRS exclusions, how much was earned and how long you owned the property. In most cases, capital gains taxes are owed for the tax year in…
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