Interest-only mortgage loans largely come with a great deal of risk - but they can work well in certain situations.
San Francisco-based First Republic Bank reports first-quarter earnings that exceed analysts' estimates.
While affordability is key in choosing where you live, these cities also rank high for amenities, education, economy, health care, infrastructure and other lifestyle factors.
New home sales in the U.S. totaled 667,000 in February, up from a revised 636,000 in January, the Census Bureau reports. The gain was bigger than projected by economists, who had estimated February sales at 620,000.
DepositAccounts.com, which tracks the savings industry, says in a new report that banks are increasing early withdrawal penalties on certificates of deposit, making it harder for savers to exit and reinvest in higher-paying products as interest rates rise.
The Federal Reserve, led by Chairman Jerome Powell, said last week it will hold interest rates steady while waiting for signs that the economy is stabilizing. But traders and economists at Bank of America say the Fed could loosen monetary conditions more than previously expected, leading to an acceleration in growth and a reversal of a growing number of recent indicators pointing to recession.
The Federal Reserve, led by Chairman Jerome Powell, said it will hold interest rates steady in their current range from 2.25% to 2.5%, while waiting for signs that the economy is stabilizing.
It's easier and simpler to determine the full cost of a loan when using simple interest instead of compound interest.