July 10th, 20181182The landscape of mortgage refinancing is shifting, but that shouldn’t necessarily scare home owners away from considering this financial move.
According to a Georgia Credit Union Affiliates 2018 GCUA Mid-Year Consumer survey, 55.3 percent of the more than 8,000 respondents have refinanced a mortgage. And most Georgians – 73 percent – believe the best reason to refinance a mortgage is to take advantage of better interest rates, payments and/or loan terms.
Fewer Georgians are comfortable utilizing a cash-out refinance option to pay for home improvements (11.7 percent), to pay off higher debt (5.2 percent) or to pay for a big...
June 28th, 201828161U.S. economic growth could reach a 15-year high by topping 5 percent growth in the period from April to June, according to a MarketWatch article.
A handful of Wall Street firms recently increased their estimates for the second quarter — and MarketWatch predicts more will soon follow suit. Notably, Macroeconomic Advisers raised its GDP forecast to 5.3 percent from 4.5 percent.
"The firm's forecast is one of the most detailed on Wall Street," according to the MarketWatch article.
Since the recession ended, the best quarter of economic growth was in the fall of 2014, when GDP rose by 5.2 percent. Before that, the GDP hadn't topped...
June 21st, 20180178Two high school theater students from Georgia will soon compete with other young performers from across the country, thanks in part to Delta Community Credit Union.
Delta Community was a sponsor of the Shuler Hensley Awards held at the Cobb Energy Performing Arts Centre in April 19. Two of the winners of those awards, Parker Jennings and Laughton Berry, will go on to compete in the National High School Musical Theatre Awards — also known as the Jimmy Awards — on June 25.
For more, read this Broadway World Atlanta article.
Also appeared in: Broadway World Atlanta, Atlanta Daybook...
June 21st, 201823158A recent study from ATTOM Data Solutions, curator of the nation's main property database, shows U.S. home prices in the first quarter were the least affordable they've been since 2008.
According to an ATTOM press release, the company calculates its affordability index based on the percentage of income needed to buy a median-priced home relative to historic averages. An index about 100 shows median home prices are more affordable than the historic average while an number below 100 means median home prices are less affordable than the historic average.
In the second quarter of 2018, ATTOM calculated the nation's home affordability index...
June 18th, 201826155President Donald Trump's administration reportedly intends to nominate a relatively unknown budget official to head the Consumer Financial Protection Bureau.
Kathy Kraninger is an associate director at the Office of Management and Budget under director and current interim leader of the CFPB, Mick Mulvaney. While Kraninger's nomination has some level of support, it also drew criticism from both sides of the aisle.
According to a WallStreet Journal article, some conservatives have seemed concerned about Krininger's chances of getting the ncessary senate approval to lead the 1,700 agency employees.
(She is a) mid-level budget staffer...
June 14th, 20181188The following post contains advice from Angi Christensen Harben, the Director of Communications for Georgia Credit Union Affiliates. When she was younger, a credit union stepped in and supported Angi’s finances and life. Now, she enjoys supporting credit unions and spreading the financial wisdom she’s gained.
People often ask what the difference is between a bank and a credit union.
There are several differences, but for me, the answer to that question is personal and significant. A long time ago, a bank didn’t want me. But a credit union did.
And I don’t blame that bank. It has a responsibility to its shareholders to...
June 14th, 201828175We've officially reached that other tax day.
Today is the last day to file your 2017 taxes without hitting the failure-to-file fee, according to a LifeHacker article.
The failure-to-file fee is different than the penalty for paying late taxes. When you pay taxes you owe late, you're paying 0.5 percent of the amount owed each month you haven't paid plus interest. The failure-to-file fee piles five percent for each month or part of a month a tax return is late on top of those other fees.
To avoid paying those fees, consumers who haven't yet filed their 2017 tax returns need to either file or request an extension today, June...
June 13th, 20181162The Federal Reserve lifted its benchmark interest rate by a quarter of a percent on Wednesday — and indicated 2018 will likely see two more hikes.
The Fed's interest rate moved from 1.75 percent to 2 percent, according to a CNBC article. It's the second rate increase the U.S. has seen this year.
The majority of policy makers said they now expect a total of four interest rate increases in 2018. Previously, feds had been split about whether to raise rates three or four times this year, according to a CNN Money article.
There's positive news behind that change. In its statement, the Federal Open Market Committee mentioned a more...
June 13th, 20181143Mick Mulvaney's time at the head of the Bureau of Consumer Financial Protection (formerly the Consumer Financial Protection Bureau) is drawing to a close — kind of.
The interim director's tenure is scheduled to come to a close on June 22, six months after it began. However, if Trump nominates a replacement, the clock resets. That means Mulvaney continues acting as interim director through the end of the year while the Senate considers Trump's new nominee, according to a Washington Post article.
>>Related: Court: Trump’s pick should lead CFPB<<
President Donald Trump appointed Mulvaney to temporarily lead the...
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