Category Credit & Debt

Upstart is changing the way people with poor or limited credit histories can get loans. Unlike traditional lenders, who mainly look at an applicant's credit score, Upstart uses artificial intelligence to consider things like a person's job, income, or education to see if they would be able to repay a loan. This lets Upstart approve borrowers with credit scores as low as 300, helping recent graduates and others who might otherwise be denied access to needed funds. With money often available in just one business day, this service is especially helpful during economic uncertainty, high inflation, and steady interest rates, providing many Americans with a much-needed financial lifeline.

Mortgage rates in the U.S. have risen back to 7%, after a recent increase lasting three days. This increase has made buying or refinancing a home more expensive for many families. Earlier in the year there was some hope as mortgage rates started to improve, but now they are high again, even though the Federal Reserve decided to keep interest rates steady. These high mortgage costs affect both traditional 30-year home loans and special loans supported by government programs like FHA and VA. This uncertainty follows last fall's increase, which had mortgage rates reaching their highest levels in over two decades, and it comes at a challenging time with ongoing economic uncertainty and lingering worries about inflation.

As of May 13, 2025, mortgage rates in the United States have reached new highs, making it harder for people to afford homes. The average interest rate for a 30-year fixed mortgage is now 6.88%, while a 15-year fixed mortgage is at 6.11%. Rates have been steadily rising due to ongoing inflation, worries over possible global trade conflicts, and cautious moves by the Federal Reserve. Many hoped for lower rates, but the Fed decided earlier this month to keep their own benchmark rate steady, indicating that high inflation is still a major issue. Combined with expensive homes and limited properties available for sale, high mortgage rates are expected to remain between 6.5% and 7% for some time, making buying a home increasingly challenging for many Americans.

Mortgage rates have continued rising this month, reaching their highest levels in years. Right now, the average interest rate for a 30-year fixed mortgage is 6.88%, and a 15-year fixed mortgage has increased to 6.11%. Adjustable-rate mortgages (ARMs) are even higher, with the 5-year ARM rate now averaging 7.69%. Experts suggest these rising rates are due to ongoing economic uncertainty, including high inflation, global trade tensions, and concerns over a possible recession. Although the economy faces these challenges, the Federal Reserve decided to keep interest rates unchanged at its recent May 7th meeting, signaling caution and a wait-and-see strategy.

Mortgage rates in May 2025 continue to fluctuate significantly, with the average 30-year fixed rate nearing 7%, causing uncertainty for many homebuyers. Despite predictions that rates would drop, the Federal Reserve has decided not to lower interest rates due to concerns about ongoing inflation and uncertain global economic conditions. This decision means higher borrowing costs may stay around longer, making home purchases more expensive and prompting buyers to carefully consider their financial situations before committing to a mortgage.

Mortgage rates rose again this week, reflecting ongoing concerns about inflation and global economic uncertainty. The 30-year fixed mortgage rate is now averaging 6.85%, climbing slightly from the previous week, while the 15-year rate increased to 6.05%. This rise comes despite previous predictions that mortgage rates would drop in 2025 as inflation cooled down. However, higher-than-expected inflation and unease over President Trump's economic plans are influencing interest rates. Meanwhile, the Federal Reserve kept official interest rates the same at its recent May meeting, choosing to remain cautious as it closely watches inflation and global trade tensions.