Freddie Mac wants to offer second-lien mortgages to help homeowners locked into lower-interest-rate mortgages access their home equity. Freddie Mac’s proposal would allow homeowners to access their home equity while keeping their low interest rate on their current loan. It could potentially be a cost-effective alternative to cash-out refinances at…

A new report from the nonpartisan Committee for a Responsible Federal Budget (CRFB) finds that President Biden’s latest student debt handout plan combined with previously announced policies will cost between $870 billion and $1.4 trillion if implemented. “That’s more than all federal spending on higher education over the nation’s entire…

Americans are drowning in credit card debt.  New data published by the Federal Reserve Bank of Philadelphia shows that a growing number of Americans are struggling to make their monthly credit card payments as they continue to battle high inflation and interest rates.All stages of credit card delinquency — 30,…

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Spending money is easy, but saving it is a lot harder. Luckily, there are tons of free financial tools you can leverage to help you save money, pay off and stay out of debt. Bankrate is one of these tools. Bankrate offers a slew of calculators all geared towards very specific…

Starboard Value, the activist fund run by Jeff Smith, has taken a sizable stake in graphics-design firm Autodesk and has spoken with the company’s board in recent weeks over a number of serious concerns involving its disclosures around an internal investigation that led to the ouster of its chief financial officer.Starboard’s stake is…

China’s retail sales beat expectations in May, climbing 3.7% compared with a year ago, beating expectations of a 3% rise from a Reuters poll of economists.However, other economic metrics, such as industrial output and fixed asset investment, missed Reuters forecasts.Industrial output grew by 5.6% year-on-year, compared to the 6% increase…

Hyundai Motor’s India unit sought regulatory approval on Saturday for a stock market listing in Mumbai, which could be the nation’s biggest and will see the South Korean parent sell a stake of up to 17.5% in the company. The initial public offering (IPO) will make it the country’s first car maker…

Introduction U.S. Bancorp (NYSE:USB) is a large regional bank that has not been immune to the industry struggles related to higher interest rates and the retention of deposits. Twice, I have examined the bank’s series A preferred shares (NYSE:USB.PR.A) as a good source of income, with the most recent update…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Japan’s TDK is claiming a breakthrough in materials used in its small solid-state batteries, with the Apple supplier predicting significant performance increases for devices from wireless headphones to smartwatches.The new material provides…