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I thought refinancing my home could save me money, but after doing the math I found it wasn’t worth it after all

[Business Insider] I recently considered refinancing the mortgage on my new home but ultimately decided against it because the math didn’t make sense. If I rolled closing costs into my new loan, my monthly payment would have gone up. I considered paying the closing costs up front, but a formula […]

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My parents lived by 4 money rules that helped them buy land, give back to their community, and retire comfortably without debt

[Business Insider] My parents had four pillars that guided their financial decisions: invest in yourself, spend according to your values, march to the beat of your own drum, and give back to your community. These pillars helped them buy land and maintain a working farm that fed our family, grow […]

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Black Homeowners Pay $13,464 More on Their Mortgages, Study Says

[Bloomberg] The ‘Black tax’ persists because of risk-based loan pricing Policy makers can reverse the negative impact, co-author says Black borrowers pay $13,464 more over the life of a home loan, with interest, mortgage-insurance and tax expenses higher than for their White counterparts, further hurting African Americans’ ability to save […]

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Mortgage Rates Today, October 12, 2020 | Rates dip

[BankRate] Multiple benchmark mortgage rates receded today. The average rates on 30-year fixed and 15-year fixed mortgages both trended down. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, advanced. Mortgage rates are constantly changing, but they continue to represent a bargain […]

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Killer Mike’s new Black-owned bank receives ‘tens of thousands’ of account requests in less than 24 hours

New York (CNN) A new majority Black and Latinx-owned and operated digital bank hopes to make supporting Black-owned banks and businesses a little easier for consumers. Greenwood was created by Bounce TV founder Ryan Glover and his close friend, rapper-activist Michael “Killer Mike” Render. The leadership team at Greenwood, which includes former Atlanta Mayor Andrew […]

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Mortgage rates set another record low, sparking new strength in refinances

[CNBC, GETTY IMAGES] Refinance volume surged to the highest level since mid-August as mortgage rates dipped to 3.01%. Refinances jumped 8% last week and were 50% higher than a year ago, according to the Mortgage Bankers Association. Mortgage rates moved even lower last week after setting multiple record lows in […]

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