Here’s what the Fed’s half-point rate hike means for your money

What the federal funds rate means to you The federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate that consumers pay, the Fed’s moves still affect the borrowing and saving rates they see every day. … Read more

Commonwealth Bank, ANZ to raise variable mortgage rates by 0.25 per cent after RBA rate hike

The Commonwealth Bank is the first major bank to announce an increase in mortgage rates, matching the RBA’s 25-basis-point increase from May 20. Key points: CBA, ANZ and Westpac will pass on the cash rate lift in full to variable borrowers But both have not indicated they will do the same for savers Experts say … Read more

Here’s how you can prepare if there’s a 50 basis point Fed rate hike

Consumers are spending more to keep up with the surging cost of living and it may get worse before it gets better. “Even though wage growth has been the best in decades, it has been outpaced by increased household costs,” said Greg McBride, chief financial analyst at Bankrate.com. “With inflation at a 40-year high, that … Read more

Is 700 Considered To Be A Good Credit Score?

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. Having a good credit score can make a big difference when it comes to the interest … Read more

Personal Loans and Home Loans dominated festive lending: Report

Personal loans outshined all other products by witnessing nearly 2X growth in originations (value) during the festive season. According to a report by CRIF High Mark titled, ‘How India Celebrates – Report on Festive Lending in India’, personal loans surpassed all other types of products. From Rs 75,088 crore in FY 19 to Rs 147,236 … Read more

South Korean financier pauses loan for multi-billion dollar Barossa gas project

Environmentalists and traditional owners in the Northern Territory have claimed a win in their bid to derail one of the biggest recent projects in the nation’s oil and gas sector. Key points: Santos plans to develop a $ 4.7 billion gasfield in the Timor Sea north of Darwin But an international financier has delayed a … Read more

Mortgage lending drops by a third, customers fear loan rejection as banks enforce CCCFA rules

Rupert Gough, founder of Mortgage Lab, discusses stricter lending laws. Video / NZ Herald New home mortgages have fallen by a third, and a $ 750,000 one-year loan costs about $ 160 a week more than a year ago. Half loans inside New Zealand has been fixed and is about to be converted within the … Read more

Earnings Wells Fargo WFC Q12022

Marking Wells Fargo on May 5, 2021 in New York. Bill Tombkins Michael Ochs Archives Getty Images Wells Fargo posted lower-than-expected first-quarter earnings on Thursday amid falling mortgage lending, but exceeded earnings expectations as the bank cut its credit balance. The company’s shares fell about 5% at 1:20 p.m. ET. Here are the numbers: Profits: … Read more

Improve your credit with a debit card

Select’s editorial team works independently to review financial products and write articles that we believe will be useful to our readers. We earn commission from affiliate partners for many offers, but not all offers in Select come from affiliate partners. For many, having a good credit score is essential to achieving many financial milestones in … Read more