That health care policy you’re purchasing may have less protection than you intended. Some insurance representatives may engage in deceptive marketing practices, a report from the Government Accountability Office found.

Original Source: cnbc.com

gen z homeownershipLeonardo Patrizi/E+/Getty

 

Gen Zers have homeownership on the mind, but their financial confidence may be waning. 
The coronavirus pandemic has left one in four Gen Z workers jobless, which could throw a wrench in their future plans. 
But there may be a silver lining: Home prices are expected to decline and mortgage rates are at record lows.
Policygenius can help you compare homeowner’s insurance policies to find the right coverage for you, at the right price »

Like each generation before them, American Gen Zers long to become homeowners.

A recent survey of 18 to 25-year-olds by Morningstar revealed that 83% want to purchase a house within the next 10 years — but less than half (39%) feel optimistic about achieving that milestone. The median age of survey respondents was 21. See the rest of the story at Business Insider

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too low mortgage ratesMorsa Images/Getty Images

 

Mortgage rates are at historic lows, and while there are no hidden fees that accompany a low APR, there are a couple trade-offs to keep in mind.
You may find a lower rate with an adjustable-rate mortgage (ARM) than with a fixed-rate mortgage, but the ARM rate could increase when the introductory rate period ends.
If your down payment is under 20% of the home value, you’ll have to pay private mortgage insurance (PMI), which could add hundreds or thousands of dollars to your annual payments.
You probably don’t need to rush to buy a home with a low rate, because mortgage APRs will likely stay low in 2021.
Policygenius can help you compare homeowner’s insurance policies to find the right coverage for you, at the right price »

Mortgage rates are at historic lows, so it could be a good time to buy a home. But you may be wondering whether there is a downside to low rates.

In short — nope, there’s no catch. A low APR can save you thousands over the life of your loan.See the rest of the story at Business Insider

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Original Source: feedproxy.google.com

US housing marketadamkaz/Getty Images

US home mortgage delinquencies surged to the highest level since November 2011, according to a Monday report from Black Knight. 
Total borrowers more than 30 days late skyrocketed to 4.3 million in May from 3.4 million in April, the report showed. 
In addition, more than 8% of all US mortgages were past due or in foreclosure, according to Black Knight.
Read more on Business Insider. 

The number of US home mortgage delinquencies has surged to the highest level in nine years as the coronavirus pandemic continues to hit family finances. 

Total borrowers more than 30 days late surged to 4.3 million in May after a record jump to 3.4 million in April, according to a Monday report from Black Knight. In addition, more than 8% of all US mortgages were either past due or in foreclosure, the report showed. See the rest of the story at Business Insider

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US weekly jobless claims hit 1.5 million, bringing the 13-week total to 46 millionMay’s blockbuster retail sales report overshadowed shifting consumer trends that could widen inequality in the USHomebuilder sentiment posts a record jump in June, signaling a housing-market rebound from the coronavirus pandemic

Original Source: feedproxy.google.com

Bank of American ATMStephen Chernin/Stringer/Getty Images

US bank deposits have grown by a record $2 trillion since January, when the coronavirus pandemic first hit the country, according to FDIC data.
In April alone, bank deposits grew by $865 million, more than the previous record for an entire year of inflows. 
Bank deposits have been boosted by unprecedented fiscal stimulus amid the pandemic, including one-time checks to households and the Paycheck Protection Program.
Read more on Business Insider.

A record $2 trillion of cash has been piled into the deposit accounts of US banks since the coronavirus pandemic first hit the country in January, according to data from FDIC

In the week ending June 10, deposits in US banks totaled $15.47 trillion, according to the FDIC. That’s nearly $2.2 trillion more than the $13.3 trillion that banks had in their deposit accounts at the end of February, the data showed. See the rest of the story at Business Insider

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US weekly jobless claims hit 1.5 million, bringing the 13-week total to 46 millionFormer Fed Chairs Ben Bernanke and Janet Yellen signed a letter with 130 top economists imploring Congress to prevent ‘prolonged suffering and stunted economic growth’Homebuilder sentiment posts a record jump in June, signaling a housing-market rebound from the coronavirus pandemic

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