When money market interest rates broke above 5 percent last year, it was a wake-up call for many investors who had grown accustomed to getting almost nothing for their money at banks. Hundreds of billions of dollars flowed into the funds, which swelled in size month after month. Now that …
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American homeowners have accrued hundreds of thousands of dollars in home equity and they’re increasingly borrowing against that value, even though interest rates remain high. Home equity, the difference between your home’s value and what you owe on your mortgage, has ballooned as home prices have risen. American homeowners with …
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In an early test of the effect the Federal Reserve’s big interest rate cut has had on the finance business, the verdict is: mixed. Profits were down at JPMorgan Chase and Wells Fargo, two of the nation’s biggest banks, they reported on Friday, yet their results largely surpassed expectations. The …
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