U.S. News & World Report Unveils Inaugural Banking, Investing Platforms & Lender Awards

In The News
Written By Guest User

The awards address the current economic climate by featuring an editors' choice award for beating high
mortgage rates. 

U.S. News & World Report, the global authority in rankings and consumer advice, today announced the winners of its first-ever Banking, Investing Platforms and Lender Awards. The winners for the 2023-2024 awards were recognized across seven categories, with PenFed Credit Union securing this year's Editors' Choice Award: Best Lender for Beating High Mortgage Rates.  

The housing market has experienced incredible turmoil over the past two years as mortgage rates have soared from below 3% to over 7%. PenFed Credit Union won the Editors' Choice Award with high scores among the top-rated lenders for affordability.

"Today's homebuyers are contending with an affordability crisis fueled by high interest rates and unyielding home prices, so it's important to find a mortgage lender that can provide some financial relief," said Erika Giovanetti, loans expert and reporter at U.S. News. "PenFed offers competitive rates, a 60-day rate lock and up to $1,500 in closing credits, making it a good choice for overcoming high housing costs."

U.S. News' new awards come as rising interest rates, inflation and a generally unpredictable investing market continue to impact the financial lives of consumers. The awards highlight trusted resources to help consumers identify the financial institutions most likely to meet their needs.

The 2023-2024 U.S. News Banking, Investment Platforms & Lender Awards Winners:

  • Editors' Choice: Best Lender for Beating High Mortgage Rates – PenFed Credit Union

  • Best Mortgage Lender – AmeriSave

  • Best Mortgage Refinancing Lender – New American Funding

  • Best Private Student Loan Lender – Earnest

  • Best Private Student Loan Refinancing Lender – Laurel Road

  • Best Personal Loan Lender – Discover

  • Best Debt Consolidation Loan Lender – SoFi

  • Best Checking Account – Axos Bank Rewards Checking

  • Best Savings Account – Bask Bank Interest Savings Account

  • Best CD Account – Barclays Bank 12-month CD

  • Best Investing Platform – Charles Schwab

  • Best Investing Platform for Beginners – Fidelity Investments

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