Tax Implications of a Parent Living With You

Taxes

The tax implications of a parent living with you depend on several factors, including financial support, income levels and household arrangements. In some cases, you may be able to claim a parent as a dependent,…

Tax Implications of Withdrawing Money From a Trust

Taxes

Pulling money out of a trust can feel straightforward, but the tax consequences are often anything but. Depending on how the trust is set up and what type of funds you withdraw, a distribution could be tax-free, or it could come with an unexpected tax bill. Many people assume that…

HELOC & Home Equity Rates Up Slightly

Mortgage

Image: Getty Images; Illustration: Bankrate Slight gains for home equity rates in the latest week. The $30,000 home equity line of credit rose one basis point to 7.32%, according to Bankrate’s national survey of lenders. Meanwhile, the five-year $30,000 home equity loan gained two basis points to 7.92%.  Even with…

How Much Is Too Much To Put Into A Savings Account?

Mortgage

Key takeaways There’s no universal “right amount” for a savings account, but most people need three to six months of expenses in an emergency fund plus cash for any short-term goals — and not much more than that. Money sitting in a traditional savings account earning the national average of…

Mortgage Rates Drop, Set New Three-Year Low

Mortgage

Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates fell this week, with the 30-year fixed rate averaging 6.16%, down from 6.23% last week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year 6.16%…