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The ABC’s of Debt Reduction

Prairie Eco-Thrifter

It will take years to see a dramatic reversal of the unemployment trend that saw the US unemployment rate nearly reach 10%. Regardless as to the specifics, many Americans have elected to decrease spending, increase savings and eradicate debt. While this may keep your credit in good shape, your finances will remain in shambles.

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Current Mortgage Rates: Compare today’s rates | NerdWallet

Savings Corner

Principal is the original amount of money you borrowed while interest is what you’re being charged to borrow the money. Sure, this means Wall Street, but non-market forces (for example, elections) can also influence mortgage rates. Changes in inflation and unemployment rates tend to put pressure on interest rates.

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