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Behavioral Finance At Work: Why Don’t People Refinance Their Mortgages?
I know that it is hard to engage students about mortgages or explain how or why to refinance, so I file this post under: a reminder that the world is messy and we are not the economically rational...
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Question: How Much Of An Impact Does Your Credit Score Have On Your Interest...
I often find myself saying in class something along the lines of “You will pay more for loans (if you can even get them) if you have a low credit score. This mini-activity allows students to see...
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Question of the Day: What Percentage of Mortgage Borrowers Don’t Shop Around?
Answer: Arguably, it is the biggest purchase that most people will make in their lifetime and yet 47% don’t shop around for their home mortgage. Amazing statistic from CFPB report: Buying a home is a...
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Analyze This: What’s the Value of Comparing Mortgage Lenders On A Per Hour...
As an educator, it is easy to tell students that before they buy any financial product (or any product for that matter), they should comparison shop. Far better, in my mind, to have students discover...
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Chart of the Week: Is It Easy To Get A Loan?
From Quartz: Interesting chart showing rejection rates by loan type over the past 18 months. It provides an effective way to show the difference between secured (mortgage and auto loans) and unsecured...
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How Much Do Americans Pay In Interest On Their Debt?
This chart released quarterly by the Federal Reserve presents several learning opportunities: Lesson 1: Mortgage debt far exceeds all other consumer debts with a total of $8.12 trillion as of the end...
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