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☆ European banks’ perfect moment will prove fleeting
▼ + stars: | 2022-10-26 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, Oct 26 (Reuters Breakingviews) - Europe’s big banks are enjoying a perfect moment. That dream scenario allowed Deutsche Bank (DBKGn.DE), Barclays (BARC.L) and Banco Santander (SAN.MC) to report chunky profits in third-quarter results released on Wednesday. Barclays’ revenue from trading fixed-income securities, currencies, and commodities in the first nine months of 2022 was 63% higher year-on-year. Deutsche, Barclays and Santander have slashed their group-wide stock of loan-loss provisions since 2020, and in the latter two cases they’re even below pre-pandemic levels. Deutsche Bank and Barclays were down 0.5% and 0.9% respectively.

☆ Housing is on the verge of a correction and Americans are feeling less and less upbeat about the economy
▼ + stars: | 2022-10-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

And no wonder — the economy is giving Americans less and less reason for optimism. The US housing market isn't just slowing down, it's in the early stages of a major correction. According to the latest consumer confidence report, Americans are feeling downbeat across the board. In Franco's words: "The Expectations Index is still lingering below a reading of 80 — a level associated with recession — suggesting recession risks appear to be rising." Here are the latest market moves.

☆ One EV maker is best positioned as the group is hit by China concerns, Mizuho says
▼ + stars: | 2022-10-25 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Geopolitical risks in China, coupled with concerns over weaker demand, are weighing on stocks of electric vehicle makers. One company, however, stands out from the group and is best positioned to ride out any storm in China, according to Mizuho Securities. Within the group, Rivian has advantages that allow it to remain safe from China concerns, according to a Mizuho research report to clients. "We believe concerns of extended restrictive Covid policies and increasing U.S. technology restrictions could make upside from better fundamental outlooks for China EV OEMs less dependable." Tesla's move could pressure local electric vehicle makers such as XPeng and premium rivals including Nio, according to the note.

Finally, I repaired my credit to a point where I was able to buy a car by cosigning with my dad. After a couple of years, I was able to repair my credit enough to get another car without a cosigner. Due to my credit score being in the mid-500s, I received a subprime loan with interest at 10%. My car payments dropped from $450 per month to about $350, and I'm going to save $1,700 over the course of my loan. This was all due to educating myself on credit repair and the benefits of refinancing, and now I love sharing this knowledge with others.

☆ Data Centers Face Higher Costs, Weaker Demand for Debt That Fueled Sector’s Rise
▼ + stars: | 2022-10-20 | by ( Kristin Broughton | ) www.wsj.com time to read: +7 min

The decline in issuance of data-center debt comes as chief financial officers across industries evaluate their funding options amid the Fed’s rate-hike campaign. Within the data-center sector in particular, that calculus for some companies involves assessing whether the timing is right to tap the securitization market despite the higher costs. What’s more, while the data-center sector is much bigger now than it was during the 2007-09 recession, it hasn’t been tested. The securitization market has historically provided Vantage with more money than it has needed to pay down its loans, Mr. Metwalli said. Digital Realty Trust Inc., a publicly traded company in the sector with an investment-grade rating, has avoided the securitization market.

☆ What Cramer is watching Thursday — Tesla slides, IBM surprises, Danaher rolls on
▼ + stars: | 2022-10-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

IBM — A truly good quarter with excellent numbers when it comes to mainframe and hybrid cloud and artificial intelligence. Club holding Danaher (DHR) beat and raise ... no slowdown, all systems go ... company says growth was broad-based across all segments of the company. Company beat top and bottom line estimates as travel demand remains strong. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Wells Fargo, Morgan Stanley downgrade auto lender Ally Financial after disappointing quarterly results
▼ + stars: | 2022-10-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Ally Financial 's weak third-quarter results were enough for analysts at two major Wall Street shops to downgrade the auto lender. "We believe ALLY shares will trade at a discount to tangible book value, as used car prices decline and [net interest margin] moderates around Fed rate hikes," Fandetti said. Ally's stock also got hit with a downgrade to equal weight and an earnings per share forecast cut from Morgan Stanley. "These include rate hikes ending, bottoming of used car prices, and credit quality stabilizing." Ally shares have tumbled more than 44% this year.

☆ Investors Are Wary of Steering Into Auto Loans
▼ + stars: | 2022-10-19 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Losses on auto loans aren’t yet breaking speed limits, but they are accelerating. Investors don’t want to wait around for an accident. Ally Financial one of the largest auto lenders, reported a sharp jump in consumer auto loan loss rates from the second to the third quarter. Within retail auto lending, Ally’s annualized net charge-off rate hit 1.05% in the third quarter, up from 0.54% in the second quarter. Analysts were expecting it to be around 0.9%, according to estimates compiled by Visible Alpha.

To build credit from scratch, try applying for a secured credit card or credit-builder loan, or ask to be added as an authorized user on someone else's credit card. And having no credit can make it more difficult to get approved for a mortgage, auto loan, personal loan, credit card, or any other type of credit. How to get a loan with no creditIf you're looking to get a loan without a credit history, here are five strategies worth considering. If you plan to repay the money quickly, a 401(k) loan could be a far more favorable borrowing choice than a payday loan, title loan, or pawn shop loan. Insider's Featured Secured Credit Cards Capital One Platinum Secured Credit CardDiscover it® Secured Credit CardCapital One Quicksilver Secured Cash Rewards Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Best travel credit cardsThis table reflects our current picks from the best travel rewards credit cards guide. Best small business credit cardsThis table reflects our current picks from the best small business credit cards guide. Best credit cards for poor/no creditThis table reflects our current picks from the best credit cards for bad credit guide. Other credit cards for poor/no creditWelcome bonus Card review Capital One VentureOne Rewards Credit Card 20,000 miles after spending $500 on purchases within 3 months from account opening Capital One VentureOne review Petal® 1 "No Annual Fee" Visa® Credit Card N/A Petal 1 Visa credit card review PenFed Gold Visa® Card N/A PenFed Gold Visa credit card reviewCollege students can earn rewards and build their credit history by using a student credit card responsibly. Then, once you've improved your credit score by using a credit card responsibly, it can be easier to upgrade to more lucrative rewards credit cards.

☆ Wells Fargo's third-quarter earnings beat shows why the bank is a key Club pick
▼ + stars: | 2022-10-14 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Wells Fargo (WFC) reported better-than-expected third-quarter results before the market opened Friday, bolstering shares, and validating the Club's bullish investment case for the lender. Wells Fargo was trading up nearly 3% in midday trading, at around $43.40 a share. * Financial definitions for bank stocks : ROTCE is a measure of annualized earnings applicable to Wells Fargo common shareholders as a percentage of average tangible common equity. Within consumer lending, home lending was down 52% from last year, while credit card revenue increased 8% over last year. A man walks past a Wells Fargo Bank branch on a rainy morning in Washington.

Learn more A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.25 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Learn more A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Learn more A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.25 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Learn more A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.75 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Pros Check mark icon A check mark.

☆ How to Improve Your Credit Score, According to Experts
▼ + stars: | 2022-10-12 | by ( ) www.wsj.com time to read: +10 min

That’s why we asked three credit experts what they think of common credit score tips—and how you can really make the most of them. In the scenario above, if you doubled your credit limit—or got an additional credit card with the same credit limit—your credit utilization would go down to 5%. What experts say: Experts agree that getting more available credit can indeed help your credit utilization and credit scores. You might see positive changes to your credit as soon as your new credit limit makes it to your credit report. Some of the easiest options include becoming an authorized user on a family member’s credit card or applying for a secured credit card, which involves depositing money with the credit card issuer.

☆ Dave Ramsey's money advice served my family well, but I finally had to ignore it to take control of my finances
▼ + stars: | 2022-10-04 | by ( Kara Detwiller | Stephanie Hallett | ) www.businessinsider.com time to read: +5 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Growing up, Dave Ramsey's financial advice helped my parents get out of debt. He especially warns people about the evils of auto loans and credit card debt. I also felt I was losing out on potential credit card perks like rewards points, airline miles, and cash back. I'm using my credit card responsibly and racking up rewardsI have been using my credit card for several months now, and I'm very happy with it.

Persons: Dave, —, Dave Ramsey's, Ramsey, I'm Organizations: Business Insider, U.S, Service, Dave Ramsey's Financial Peace, US Bank, Financial Peace University Locations: USA, Canada

☆ A 35-year-old financial coach who was raised in poverty gave 3 pieces of advice for getting and staying out of debt — and shares one thing she wishes she did differently when paying off her student lo
▼ + stars: | 2022-09-24 | by ( A.J. Cohen | ) www.businessinsider.com time to read: +13 min

"I got some grants, but also took out some student loans." I've been paying on these student loans and I still owe the same amount and I don't get why." According to the Federal Reserve, the total amount of consumer debt at the end of 2021 — including mortgages, student loans, auto loans, and credit card debt — was $15.6 trillion. Wolfe gave Insider three tips for getting and staying out of debt — and shared one thing she wishes she did differently when she was paying off her student loans. "It could potentially mean a lifetime of debt," Wolfe said.

☆ Historic rate hikes mark the largest 6-month increase in 41 years: What you should do with your money
▼ + stars: | 2022-09-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

U.S. Federal Reserve Board Chairman Jerome Powell pauses during a news conference after Federal Reserve raised its target interest rate by three-quarters of a percentage point in Washington, September 21, 2022. You'd have to go back to 1981 to find a six-month period when interest rates rose more. With more interest rate hikes on the rise, it's worth reviewing how they affect your finances and how financial experts say you can best adjust your saving, spending and investing strategies. "You are peddling into a progressively stiffer headwind as interest rates rise," Greg McBride, chief financial analyst at Bankrate, told CNBC. Up the interest rate you're getting on cash in the bankOne silver lining of a rising rate environment is that it becomes more lucrative to save.

☆ Inflation and higher rates are a 'dangerous mix' for consumers already stretched thin, says chief financial analyst
▼ + stars: | 2022-09-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

"Interest rates are going up at the fastest pace that any of us have seen in our adult lives," said Greg McBride, chief financial analyst at Bankrate.com. "Credit card rates are the highest since 1995, mortgage rates are the highest since 2008 and auto loan rates are the highest since 2012." But it's the combination of higher rates and inflation that have hit consumers particularly hard, he added. "With more rate hikes still to come, it will be a further strain on the budgets of households with variable rate debt, such as home equity lines of credit and credit cards," he said. Here's how Fed hikes this year have impacted the rates consumers pay on the most common types of debt, according to recent figures from Bankrate.

☆ Here's what the Federal Reserve's third 75-basis point interest rate hike means for you
▼ + stars: | 2022-09-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

The federal funds rate, which is set by the U.S. central bank, is the interest rate at which banks borrow and lend to one another overnight. As the federal funds rate rises, the prime rate does, as well, and your credit card rate follows suit within one or two billing cycles. "A 0% balance transfer credit card may be your best weapon in the battle against credit card debt and rising interest rates," he advised. Federal student loan rates are also fixed, so most borrowers won't be impacted immediately by a rate hike. Of course, anyone with existing education debt should check whether they are eligible for federal student loan forgiveness.

☆ The Fed just made a 'jumbo' interest rate hike of 0.75%—here are 4 things that will be more expensive
▼ + stars: | 2022-09-21 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

By increasing its key interest rate, the central bank discourages spending, which can reduce inflation for the prices for goods and services. When the rate hikes began in early 2022, average APRs were close to 16% and have since climbed to just over 18%. At the start of 2022, the average interest rate on a 60-month new car loan was 3.85%. But with today's increase, the interest rate could nudge up closer to 5.5% to 5.75%, says Bankrate's chief financial analyst Greg McBride. Mortgage rates tend to rise with rate hikes, but they are more directly influenced by the bond market.

☆ How much ‘pain’ is the Fed willing to inflict? Wednesday’s rate hike will offer clues
▼ + stars: | 2022-09-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Federal Reserve Chairman Jerome Powell has acknowledged the economic pain this rapid tightening regime may cause. A larger hike is possible, but unlikelySome economists even expect the Fed to implement a massive — and historic — full-point rate hike on Wednesday. It meant that people understood the seriousness of the Fed’s commitment to getting inflation rates back down to 2%, he said. They want higher bond yields,” former New York Federal Reserve President Bill Dudley told CNN back in May. The Federal Reserve announces its rate hike decision Wednesday at 2 p.m.

Fed policymakers expect it to rise to 4.4% by the end of next year, projections released Wednesday show. The availability of nearly two job openings for every job seeker reflects that, and Fed policymakers hope businesses will respond to interest rate hikes mostly by trimming hiring rather than with outright layoffs. Fed policymakers see inflation, now at 6.3% by their preferred measure, falling to 2.8% by the end of next year, projections released on Wednesday show. But in general, banks are slow to pass on the Fed's rate increases to savers and do so at levels typically far below the central bank's policy rate and, currently, inflation. With the rise in rates, monthly mortgage payments on a median-priced existing home have jumped nearly 60% to $1,940 this year.

☆ What rising interest rates mean for your credit, loans, saving and more
▼ + stars: | 2022-09-21 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

“Credit card rates are the highest since 1995, mortgage rates are the highest since 2008, and auto loan rates are the highest since 2012. Home loans: Lock in fixed rates nowMortgage rates have been rising over the past year, jumping more than three percentage points. That said, “don’t jump into a large purchase that isn’t right for you just because interest rates might go up. For example, financial service companies can do well in a rising rate environment because, among other things, they can make more money on loans. Bonds: Go shortTo the extent you already own bonds, the prices on your bonds will fall in a rising rate environment.

☆ What rising interest rates mean for you
▼ + stars: | 2022-09-21 | by ( Jeanne Sahadi | Cnn Business | ) edition.cnn.com time to read: +11 min

"Credit card rates are the highest since 1995, mortgage rates are the highest since 2008, and auto loan rates are the highest since 2012. Here are a few ways to situate your money so that you can benefit from rising rates, and protect yourself from their downside. "Less debt and more savings will enable you to better weather rising interest rates, and is especially valuable if the economy sours." That said, "don't jump into a large purchase that isn't right for you just because interest rates might go up. "It's not just rising rates and inflation, there are geopolitical concerns going on... And we have a slowdown that may lead to a recession or maybe it won't...

☆ With mortgage rates above 6% for the first time since the Great Recession, we had a personal finance expert break down the 4 best ways to lock in the lowest rate possible
▼ + stars: | 2022-09-20 | by ( Jennifer Streaks | ) www.businessinsider.com time to read: +4 min

Detailed below are four ways you can ensure you're getting the lowest possible rate right now. If you're looking to apply for a mortgage in such an environment, it's as important as ever to make sure you're getting quoted the lowest possible rate. Get all of your quotes together and take a thorough look, this includes closing costs, fees and points and make sure that you get the best deal possible," McBride states. You do not want to have any large outstanding balances that may conflict with a new mortgage payment," McBride says. It's important to show that your income can handle adding this mortgage loan to your financial picture.

☆ Another interest rate hike is coming from the Federal Reserve: Here's how it could affect you
▼ + stars: | 2022-09-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

The U.S. central bank has already raised interest rates four times this year, for a total of 2.25 percentage points. As the federal funds rate rises, the prime rate does as well, and credit card rates follow suit. Student loans The interest rate on federal student loans taken out for the 2022-2023 academic year already rose to 4.99%, up from 3.73% last year and 2.75% in 2020-2021. It won't budge until next summer: Congress sets the rate for federal student loans each May for the upcoming academic year based on the 10-year Treasury rate. Of course, anyone with existing education debt should check whether they are eligible for federal student loan forgiveness.

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