Details for RATESEEKER LLC - Ad from 2019-11-17

St. Louis Post-Dispatch

Deposit & Loan Guide

Institution

Synchrony
Bank

Int Chking Money
Acct
Mkt Acct
Min
Min

NA

1.20

NA

0

3 mo
CD
Min

6 mo
CD
Min

0.75

1.00

12 mo
CD
Min

18 mo
CD
Min

2.10

2.10

2,000 2,000 2,000 2,000

24 mo
CD
Min

36 mo
CD
Min

60 mo
CD
Min

2.20

2.25

2.30

2,000 2,000 2,000

Great Rates + Safety = Peace of Mind. Member FDIC.

Phone / Website

800-869-3813
www.synchronybank.com

TO PARTICIPATE IN THIS FEATURE,
CALL SALES DEPARTMENT @ 773-320-8492
Savings Update

Student loan debt delaying home ownership by 7 years
By Sabrina Karl
With so much student loan debt on their shoul"?><- 9:,< %#: <8>!>9<9%= :;3: %=?> /'?>9$3%<
are postponing buying their first home. But a
couple of recent surveys have quantified exactly
how long student loans are delaying homeownership.

As a result, the average U.S. adult carrying
student loans is delaying homeownership by
7.7 years.

Another recent survey, by Clever Real Estate,
found that almost a full half (48 percent) of current undergraduates with student debt already
According to data from the Federal Reserve, expect to put off buying a house because of
even a $1,000 student loan debt can lower the their loans.
homeownership rate by about 1.5 percent. That
equates to putting off buying a house by 2.5 The survey also found that, on average,
months.
Americans believe 28 is the ideal age to buy a
home. However, the median college graduate
But of course most Americans with student loans )9:; <:8"?%: "?1: "#?<%,: ?(!?$: :# 1? 315? :#
owe much more than $1,000. In fact, as of July, afford a home until age 35. In contrast, students
the average student loan balance per debtor was with no student debt said they plan to buy a
*0.-4.2+ 6;3:,< '#>? :;3% :;>?? :9'?< :;? 37?>- home by age 30.
age balance than in 2006, according to the Fed.
A generational shift is also visible in the Fed
Add to the increased debt load that household data. In 2015, only 37% of millennials were able
incomes have remained mostly stagnant for to become homeowners, which is approximately
13$;?5#>,< "?=>?? ;#5"?><- );95? >?%:< ;37? 8 percentage points lower than the homeownermostly increased, and it has been incredibly dif- ship rate of Generation X adults and baby boomficult for many graduates to pay down their debt. ers when they were the same age.

Rate Criteria: Rates effective as of 11/12/19 and may change without notice. RateSeeker,
LLC. does not guarantee the accuracy of the information appearing above or the availability
of rates in this table. Banks, Thrifts and credit unions pay to advertise in this guide. NA means
rates are not available or not offered at the time rates were surveyed. All institutions are FDIC
or NCUA insured. Yields represent annual percentage yield (APY) paid by participating institutions. Rates may change after the account is opened. Fees may reduce the earnings on the account. A penalty may be imposed for early withdrawal. To appear in this table, call 773-320-8492.

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