Interest Rates
- Taking an interest in your credit card rate
Credit cards are one of the most pervasive forms of your financial picture. On a daily basis, they provide the flexibility and freedom to reserve a hotel room, travel without carrying cash, and purchase just about anything at anytime.
As such, your credit cards can have a major impact on your financial wellbeing and even your [...]
- Facing losses on bad loans, banks boost credit card rates
Originally Posted on February, 20th 2008
I speak with some people on a daily basis who refuse to believe that the credit card companies have the ability to raise their rates whenever they want. When you see articles like the one from USA Today I have posted below, it is really hard to deny. Now, more [...]
- Why Fed Rate Cuts Do Not Equal Lower Mortgage Rates
Originally Posted on February 7, 2008
by Barry Habib – Contributing Editor to CNBC.com
The Federal Reserve has been on a rate cutting spree once more. Many mortgage applicants are calling their mortgage representative and expecting a lower interest rate. Others who have been waiting to refinance are puzzled as to why mortgage rates have not moved [...]
- Historic Fed Move Cuts Both Ways for Borrowers
Originally Posted on January 31, 2008
Hot on the heels of its surprise inter-session rate cut of 75 basis points last week, the Federal Reserve cut key interest rates again, the fifth straight cut since September 2007. In its statement last week, the Fed said it had decided to cut the federal funds rate “in view [...]
- Fed Cuts Rate by .75%: Largest Cut in 20 years!
Originally Posted on January 23, 2008
In a nearly unprecedented move the Federal Reserve early Tuesday cut the Federal discount rate by .75 of a point, the largest single rate cut in 20 years.
The move did not come at one of the Fed’s regularly scheduled meetings but rather overnight in response to some truly dreadful news [...]
- President Bush announces plan to Freeze ARM Rates
Original Post: December 11, 2007
The President annouced a new plan last week to help borrowers who may go into default on their home loans due to adjustable rate mortgages. it definitely looks like it will help “some” people.
Below are the details of the program, however if you have ARM rate mortgage and would like our [...]
- FDIC to mortgage servicers: Freeze ARM rates
Top bank regulator suggests industry cuts losses now to prevent foreclosures.
By Jeanne Sahadi, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) — The heat on U.S. mortgage lenders and servicers was turned up a few degrees this week when the country’s chief bank regulator publicly proposed that they permanently freeze interest rates on subprime adjustable-rate mortgages (ARMs) for [...]
- Borrowers get small break from Fed
By Ismat Sarah Mangla, Money Magazine reporter
September 18 2007: 4:17 PM EDT
NEW YORK (Money) — After the Federal Reserve’s half-point cut in interest rates Tuesday, homeowners may experience some welcome – if small – relief.
Borrowers with home equity lines of credit (HELOCs) will notice savings immediately, says Keith Gumbinger, vice president of HSH Associates.
A HELOC [...]
- Why the Federal Reserve Adjusts Interest Rates
Originally Posted on July 30th 2007
We all know that the Federal Reserve (Fed) controls interest rates, but it is even more important to understand why they are adjusting them. Adjusting rates essentially increases and decreases the amount of money circulating within the economy. The Fed is acting as the throttle and the break for economic [...]
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