Reported 7 months ago
In this episode of Wealth!, Yahoo Finance discusses the impact of interest rates on savings and homebuying. The Federal Reserve's decision to maintain high rates and reduce rate cut estimates is seen as good news for savings. Mortgage rates have slightly decreased, attracting potential homebuyers. Additionally, Franklin Templeton's research shows a high demand for personalized investment options in 401(k)s, especially among Millennials juggling various financial goals. The upcoming presidential election is causing financial anxiety among Americans, with concerns about inflation rates and personal finances at the forefront. Finally, the concept of cash management accounts, combining features of checking and savings accounts, is discussed as a streamlined banking option offered by investment firms.
Source: YAHOO