Banking
Is Mortgage Refinancing Market Good or Bad Right Now?
By anutt1 at 29 June, 2009, 12:00 am
With all of the home foreclosures taking place across the country, many people may feel that it is not a good time to refinance. This is actually not true. Lenders want to keep people in their homes because of the expenses they incur when they try to sell a foreclosed home. Most times, they will actually take a bit of a loss. If you are considering refinancing for a better rate or to clean up any outstanding debts, there are many reasons why this is a good time to refinance your mortgage.
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After Falling Mortgage Rates Hold Steady
By kigray at 29 June, 2009, 12:00 am
After falling from 5.59 to 5.38 the previous week it looks like mortgage rates for the most part held steady this week. Of the four major mortgage products two fell and two rose. But for all four the movement was minimal. Thirty year mortgage rates rose from 5.38 to 5.42 and the 5 year arm rose from 4.97 to 4.99. The 15 year rate dropped slightly from 4.89 to 4.87 and the 1 year arm fell from 4.95 to 4.93. Below are rates for the last few weeks.
Read More >>After 2 Weeks of Large Increase Mortgage Rates Fall Again
By kigray at 27 June, 2009, 12:00 am
So for the previous two weeks we saw sizable gains in mortgage rates. Between May 28th and June 11th 30 year mortgage rates jumped from 4.91 to 5.59. This week we saw rates drop down to 5.38. Although we are still above what we were at two weeks ago it’s nice to see mortgage rates moving back down. The other major mortgage products all went down as well. The 15 year dropped from 5.06 to 4.89. The 5 and 1 year arms dropped from 5.17 to 4.97 (5 year arm) and 5.04 to 4.95 (1 year arm). Below are rates for the 4 major mortgage products since May 21st.
Read More >>The Services You Need May Be At Your Local Credit Union
By artgib at 24 June, 2009, 12:00 am
In light of the recent global financial crisis, many young adults are discovering that they need to start planning for their financial futures earlier than they had previously thought. But where does a person go to get started? How does she even know what options are available to her? What many young adults don’t realize is that the services they need may be at their local credit union.
Read More >>How Long will Mortgage Rates be Low?
By anutt1 at 23 June, 2009, 12:00 am
In an effort to keep people in their homes and encourage more home purchases, the Federal Reserve’s actions to reduce interest rates have been a success. Many homeowners have taken advantage of low interest rates and have purchased homes or refinanced their current mortgage. However, prospective homeowners who have not taken advantage of the savings should consider acting soon because many industry analysts say the low interest rates may soon end.
Read More >>Obama and Bernanke Weigh in on the Economy
By jillb at 16 June, 2009, 12:00 am
In separate speeches both President Obama and Federal Reserve chairman Ben Bernanke gave assessments of the nation’s economic health. The venues may have been different, but their views are essentially the same: the economy is starting to show tiny signs of recovery, but the road back to prosperity is still a long one.
Read More >>Business Finance; A Brief Glossary
By prettyone at 15 June, 2009, 12:00 am
The world of business finance can be confusing at the best of times. There is a plethora of different terms that are thrown around, some befuddling, others easier to comprehend. Hopefully this article will be able to present a glossary containing some of the more common business finance terms.
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