Aly J. Yale

6 days ago | finance.yahoo.com | Aly J. Yale

You often hear about homebuying as a way of expanding: getting more space, building more wealth, or putting down deeper roots. But for some people, buying a house is about the opposite — downsizing. There are many reasons to move into a smaller house. It’s a common decision in retirement, for example, when older homeowners want a place with less maintenance or just don’t have the mobility to live in a large, multi-story property anymore.

1 week ago | cbsnews.com | Aly J. Yale |Angelica Leicht

There's a lot of economic uncertainty these days. The stock market is volatile, proposed economic policies threaten to send consumer prices higher and stubborn inflation has remained above the Federal Reserve's goal of 2%. Because of this, the Fed has pulled back on its rate cutting as of late. While that's not great if you're looking to borrow cash, for savers, it can be beneficial as it keeps rates on savings accounts and certificates of deposit (CDs) propped up for the time being.

1 week ago | money.com | Aly J. Yale |Leslie Cook

* Sample rates are based on the most recent government data on reverse mortgages, issued in November 2024. Reverse mortgages are one of the many tools you can use to access your home equity and turn it into cash — but not everyone can use them. With reverse mortgages, only homeowners of a certain age are eligible. For the government-backed kind — called Home Equity Conversion Mortgages (HECMs) — you must be 62 to qualify.

2 weeks ago | money.com | Aly J. Yale |Leslie Cook

* Sample rates and APRs are subject to change. All information provided here is accurate as of April 30, 2025. One of the biggest perks of owning a home is the equity it allows you to build. When you sell, that equity translates to profits. But you can borrow from that equity while still living in the home, too — using it to pay for home repairs, unexpected medical bills, or even to consolidate higher-interest debts, like credit cards.

2 weeks ago | cbsnews.com | Aly J. Yale |Matt Richardson

For most consumers, borrowing money right now is expensive. Credit cards come with double-digit rates (over 21%), and personal loans are pricy, too, averaging over 12% right now. If you're a homeowner, though, you have access to a lower-cost option: home equity products. With home equity loans and home equity lines of credit (HELOCs) you can snag rates under 9%. Despite their affordability, though, the two products aren't one and the same.