As interest rates have risen, homebuyers have faced higher borrowing costs. In response, more home purchasers are choosing to buy mortgage points to mitigate the impact of increased monthly payments. Mortgage points allow buyers to pay an upfront fee in order to lower the interest rate on their loans. In some cases, sellers may assist …
Human psychology and money don’t mix well. According to behavioral experts speaking at CNBC’s Financial Advisor Summit, our psyches can easily undermine financial decision-making. Brad Klontz, managing principal of YMW Advisors and a founder of the Financial Psychology Institute, stated, “We’re all crazy when it comes to money.” He added, “The miracle is that anyone …
Debt is a common issue for many Americans, with the average amount of household debt on the rise. However, addressing this problem should not be daunting even though the process can be overwhelming. The first step towards paying off debt is taking stock of exactly what you owe. This involves gathering all your statements and …
When it comes to buying a home now, there are plenty of challenges. But homeownership can be a great way to build wealth and to maintain housing stability, said Kamila Elliott, a certified financial planner and co-founder and CEO of Collective Wealth Partners, a boutique advisory firm in Atlanta. Achieving that goal now can be challenging, with …