Money Talk: Deciding Which Loan to Pay Off
Question: I am going to pay off one of my daughter’s private student loans. One has a balance of $8,500 at 4 percent interest and the other is for $7,500 at 6 percent. Which one should I pay off? Answer: You have a lucky daughter, either way. In addition to balances and rates, the other variable you need to consider is whether the rates are fixed or adjustable. These days, many private student loans have fixed rates, but in the past...
2016 Investment Forecast: Expect Less, Buy Antacid
New York — Investing is becoming more of a grind. Expect it to stay that way. Analysts, mutual-fund managers and other forecasters are telling investors to expect lower returns from stocks and bonds in 2016 than in past years. They’re also predicting more severe swings in prices. Remember that 10 percent drop for stocks that freaked investors out in August? It likely won’t take another four years for the next one. The good news is...
Domestic Car Sales for 2015 Poised to Be a Record
Despite pollution-spewing Volkswagens, exploding Takata airbags and failing GM ignition switches, domestic car sales for 2015 appear poised to be the best in U.S. history. Industry experts predict, based on year-to-date sales and projections for December, that the year’s total sales will top 17.4 million vehicles, beating the previous high sales mark set in the year 2000. “The economy is strong, interest rates are low, and fuel prices...
Most Won’t Feel Fed Rate Increase
Washington — For anyone considering whether to buy a home or car, the Federal Reserve’s interest rate increase Wednesday shouldn’t make much difference. The rates that most people pay for mortgages, auto loans or college tuition aren’t expected to jump anytime soon. The Fed’s benchmark interest rate has limited influence on those things. Still, the Fed’s move to lift its key rate by a quarter-percentage point will raise short-term...
Stocks End Mixed Despite Jobs Data
New York — Stocks had a mixed reaction Friday to the surprisingly strong October jobs report as investors adjusted to the prospect of higher interest rates as early as next month. While the major indexes, on the surface, had a muted reaction to the jobs numbers, a look at the individual parts of the market showed investors were actively reshuffling their portfolios. Dividend-paying stocks, which are typically bought for their...
