Mortgage rates sank to an all-time low — again. The average rate for a 30-year fixed-rate mortgage dropped .07 percentage points for the week ending Sept. 10, reaching 2.86 percent — a new low since Freddie Mac began conducting the survey in 1971. This time last year, the mortgage rates averaged 3.56 percent. Fifteen-year mortgages…

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Because of the new realities that have afflicted the American healthcare system and its capacity to provide care during the COVID-19 coronavirus pandemic, many seniors may be looking at options beyond nursing homes or care facilities out of a desire to remain as far away from the risk of infection as possible. Seniors in general…

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Want to give your brain a boost? Go for a swim, take a walk, or spin your partner on the living room floor. A new study finds that aerobic exercise can improve older adults’ thinking and memory, even if they’re longtime couch potatoes. This type of exercise increases blood flow to the brain and counters…

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Health expenses in retirement remain a major influence on the ability for seniors to maintain stability in their post-working lives, but remain surprisingly overlooked as seniors plan out their retirement finances. This is according to financial planner Eric Brotman in a new column at Forbes. In citing a recent study on healthcare retirement saving patterns…

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Having a furry, fluffy or feathered friend can have a profound effect on seniors’ mental health, possibly even helping prevent some suicides, new research suggests. In a group of 35 older people who were pet owners, more than one-third said they were “actively suicidal” or “significantly traumatized,” but their pets gave them a reason to…

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In the first five years of retirement, American seniors are likely to face significant financial challenges in making ends meet. According to a survey of Americans who retired between 1992 and 2014 conducted by the Consumer Financial Protection Bureau (CFPB), over half (51%) had income, savings or other non-housing assets allowed them to maintain the…

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Mindfulness may explain why many older people feel their life has gotten better with age, a new study suggests. Mindfulness is being aware of your experiences and paying attention to the present moment in a purposeful, receptive and non-judgmental way, and it can help reduce stress and promote good mental health, according to the Flinders…

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Reverse mortgages aren’t cheap for seniors and should be avoided particularly for short-term needs, but recent research has identified an effective use of the product concept for those who have investments during volatile periods of market activity. This is according to Liz Weston, a certified financial planner and finance expert at NerdWallet. “Stay-at-home orders may…

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These days, things are changing so fast, it’s tough to keep up. That’s especially true in the mortgage industry, where interest rates and the overall home loan landscape are shifting with such head-spinning speed, it’s easy for outdated information to circulate, leading home buyers and homeowners astray. You may have heard, for instance, that everyone…

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As more American seniors find themselves economically impacted by the COVID-19 coronavirus pandemic, more of them may be looking at new financial options that they may not have considered before in order to make ends meet. One of these new potential options may be a reverse mortgage, and it’s in that spirit that Money.com has…

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