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US Mortgage Rates Top 7% for the First Time in 2 Decades
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US Mortgage Rates Top 7% for the First Time in 2 Decades

By MATT OTT and ALEX VEIGA, AP Business WritersWASHINGTON (AP) — The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve's aggressive rate hikes intended to tame the nation's stubbornly high inflation.Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate jumped to 7.08% from 6.94% last week. Last year at this time, rates on a 30-year mortgage averaged 3.14%.Higher mortgage rates reduce homebuyers’ purchasing power, resulting in fewer people being able to afford to buy a home at a time when home prices continue to climb, albeit more slowly than earlier this year. The combination of higher rates and home prices means a typical mortgage payment for a homebuyer is up hundreds of...
Pfizer Says COVID-19 Vaccine Will Cost $110-$130 Per Dose
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Pfizer Says COVID-19 Vaccine Will Cost $110-$130 Per Dose

By TOM MURPHY, AP Health WriterPfizer will charge $110 to $130 for a dose of its COVID-19 vaccine once the U.S. government stops buying the shots, but the drugmaker says it expects many people will continue receiving it for free.Pfizer executives said the commercial pricing for adult doses could start early next year, depending on when the government phases out its program of buying and distributing the shots.The drugmaker said it expects that people with private health insurance or coverage through public programs like Medicare or Medicaid will pay nothing. The Affordable Care Act requires insurers to cover many recommended vaccines without charging any out-of-pocket expenses.A spokesman said the company also has an income-based assistance program that helps eligible U.S. residents wit...
What to Do if You Lose Your Phone | Family Finance
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What to Do if You Lose Your Phone | Family Finance

Losing your phone can be more than an inconvenience. It can also be a financial nightmare if someone uses it to access to your bank account, digital wallet or other sensitive information.That’s why it’s crucial to act quickly to find a missing device before it falls into the wrong hands. Here are seven steps to take if you lost your phone: Call your phone. Use a “Find My Device” service. Remotely lock your phone and erase sensitive data. Change app passwords and log-in credentials. Contact law enforcement. File an insurance claim. Keep an eye on financial statements. Call Your PhoneIt might go without saying, but sometimes the simplest solutions are the ones most often overlooked.“Call the phone to see if someone picks up, as the person (who found it) may be eager to return it to...
Why Illiquid Wealth is Valuable to Financial Advisors | Financial Advisors
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Why Illiquid Wealth is Valuable to Financial Advisors | Financial Advisors

Small business has long been said to be the backbone of the U.S. economy for its ability to create new jobs and spur job expansion. In fact, small business creates two-thirds of new jobs and employs 46.8% of the private workforce, according to 2021 Small Business Administration data. The COVID-19 pandemic hit small businesses hard, especially minority-owned businesses. However, many have rebounded and continue to grow. Financial advisors often market to a niche of potential clients, and business owners are regularly cited as an optimal market. However, when advisors talk with a prospective client about their current investments, rarely do they discuss one of the largest allocations in the client's portfolio – their ownership interest in the business itself. In doing so, they miss out on...