Christopher Murray Journalist Profile

Articles

Debit vs. Credit Card: What's The Best Way To Pay?

Jan 21, 2025 | bankrate.com | Katie Kelton |Christopher Murray |Brooklyn Lowery

Debit cards let you pay for things with money in your bank account, while credit cards pay with a line of credit. A debit card can be handy for preventing overspending and interest charges, as well as for withdrawing cash. A credit card can help you build your credit history, earn rewards and get better fraud protection. Debit and credit cards look similar, but they allow you to spend money differently.
California’s homeowners insurance industry faces rough road ahead as wildfires continue

Jan 16, 2025 | foxbusiness.com | Christopher Murray

The wildfires in California have led to an unprecedented insurance crisis. (iStock ) The California wildfires have brought widespread disaster to communities in Southern California. It’s also contributed to a serious insurance crisis happening in the state. Many insurers have pulled out of the state or have paused coverage. AIG left the state in 2022, while Chubb and Allstate limited their coverage options in the last few years. An even larger blow, State Farm pulled their 72,000 policies in 2024.
The U.S. added 227,000 jobs in November, setting in motion potential Fed rate cuts at the end of the year

Dec 6, 2024 | foxbusiness.com | Christopher Murray

227,000 jobs were added to the economy in November. (iStock ) November saw a higher rise in job numbers than originally expected. Nonfarm payroll employment rose by 227,000, while the unemployment rate bumped up slightly to 4.2%, the U.S. Bureau of Labor Statistics reported. Health care, hospitality and government industries largely led the drive in job growth.
FHFA just announced higher conforming loan limits for 2025

Dec 3, 2024 | foxbusiness.com | Christopher Murray

High housing costs have pushed the CLL up. (iStock ) Housing prices have remained high for the last few years, largely due to fluctuating mortgage rates and lasting economic effects from the pandemic. In response, conforming loan limits (CLL), which determine how big of a loan borrowers are allowed to take out, are set to rise in 2025, the Federal Housing Finance Agency (FHFA) recently announced. As home prices rise, the FHFA tends to raise the standard CLL.
Biden administration forgives $4.5 million in student debt for 60,000 borrowers

Oct 18, 2024 | foxbusiness.com | Christopher Murray

Borrowers who serve in the public service sector and government are eligible for this forgiveness. (iStock ) Another 60,000 student loan borrowers will receive student loan relief in the coming weeks. The Biden Administration announced $4.5 billion in relief for public service workers such as nurses, teachers and social workers. The relief comes as a fix to the original Public Service Loan Forgiveness (PSLF) program. The program was initially signed into law by George W.
Your Guide to Banking Convenience

Sep 20, 2024 | marketwatch.com | Christopher Murray |Liz Bingler

Your debit and ATM cards give you direct access to the money in your bank account. However, many banks put limits on how much of your money you can access via ATM withdrawals each day. Banks need to have enough funds available, so customers are given ATM withdrawal limits. We at the MarketWatch Guides team explain how ATM cash withdrawal limits work, including how they’re set and how to manage your limit. We also list some major financial institutions’ ATM withdrawal limits.
Supreme Court blocks President Biden’s SAVE plan again

Aug 29, 2024 | foxbusiness.com | Christopher Murray

Millions of SAVE plan borrowers are in forbearance while the legal battle continues. (iStock ) Despite President Biden’s request to reinstate the SAVE plan the administration created to help student loan borrowers pay less in monthly payments, the Supreme Court declined to do so on Wednesday. Lower courts blocked the plan earlier in the summer after legal challenges were brought up by GOP-led states.
The US added 818,000 fewer jobs this year than originally estimated

Aug 23, 2024 | foxbusiness.com | Christopher Murray

The labor market isn't as strong as predicted, with 818,000 fewer jobs. (iStock ) The U.S. Bureau of Labor Statistics just reported that the U.S. added 818,000 fewer jobs over the last 12 months (through March) than they previously predicted. The -0.5% difference was reported in the preliminary estimate of the annual revision to the BLS employment series. Consumers won’t know the final numbers until February.
Mortgage rates average 6.43% this week, the lowest in a year

Aug 9, 2024 | foxbusiness.com | Christopher Murray

The low employment report added to the drop in rates. (iStock) Mortgage rates dipped significantly this week, dropping to the lowest level in more than a year, according to Freddie Mac. Rates for 30-year, fixed-rate mortgages averaged 6.47%, down from 6.73% last week.
Economic turbulence 'effectively assured' Fed will cut interest rates in September

Aug 8, 2024 | foxbusiness.com | Christopher Murray

The Dow Jones dropped by over 1,000 points on Monday and has been struggling since. (iStock ) A surprising jobs report released last week paired with a volatile Japanese market led to a massive selloff during Monday’s trading day, with both the Dow Jones and the S&P seeing their worst sessions since 2022. Along with fewer jobs added, the unemployment rate shot up to 4.3% in July, adding to the mounting fears that ultimately led to Monday’s troubles.