Mortgage Interest Rates Continue to Move Up
July 4, 2008
After rising drastically last week fixed mortgage interest rates moved up slightly this week. 30 Year notes moved from 6.42 to 6.45 and 15 Year notes moved from 6.02 to 6.04. ARMS on the other hand rose a decent amount. 5 Year Arms rose from 5.89 to 5.99 while 1 Year Arms rose from 5.19 to 5.27. 30 Year mortgage rates have been on a steady rise having risen for the last straight 6 weeks. Overall 15 Year Fixed and 5 Year Arms have been rising. The only mortgage product that has remained relatively... Read more »
Northern Rock - Could It Happen Again ?
July 4, 2008
The sight of worried depositors waiting in line outside branches of the Northern Rock Bank in England during September 2007 is a spectre which Gordon Brown wishes to banish from the UK high street. The Northern Rock disaster, and the television images of agitated depositors, was beamed round the world. The long term damage to the reputation of London as the world’s leading financial centre is palpable, but difficult to quantify. The confused response of the UK authorities has undermined the... Read more »
Getting Cheap Gas Is Not As Big A Problem As One Might Think
July 4, 2008
Hurricane Katrina’s showed us very clearly that we are very susceptible to any major halt or reduction in oil production. With prices souring since the Katrina tragedy the term “cheap gas” is as extinct as the dinosaurs. The Hurricane Katrina cutoff came from a natural disaster, of course, but the larger threat is a political. Amazingly enough, two-thirds of the world’s established oil treasury lie in and around the Persian Gulf area; these countries, led by Saudi Arabia,... Read more »
Online Bill Pay: Why It Makes Sense for You
July 1, 2008
As more and more individuals turn to online banking, online bill pay is a natural step for those who want to take advantage of the ease and convenience of today’s technology. Not only is online bill pay good for the environment (goodbye paper bills), the system can help you manage your bills and finances. Online bill pay also takes the trouble out of writing checks, stuffing the envelopes, applying postage, and getting the bills in the mail. While you’re still spending the money on bills,... Read more »
Secure and Safe: Tips for Online Banking
July 1, 2008
Just within the last several years, the Internet has emerged as a highly convenient way to conduct banking business, as well as shop for financial services. As the use of the Internet continues to expand, more banks are using the web to offer products and services or enhance its communication with existing customers. However, according to the Federal Deposit Insurance Corporation (FDIC), safe online banking involves making wise choices - decisions that will help users avoid costly surprises or even... Read more »
What Are Payday Loan Stores
June 10, 2008
Individuals not familiar with the World Wide Web (or perhaps too familiar with the occasional security breaches that it involves) still hold payday loan stores as more feasible centers for procuring payday loans. In the fast-paced world of today, time is definitely a factor, and credit must be given to the World Wide Web for bringing the entire world at one’s fingertips, accessible at the single click of a mouse. However, most would agree that an offline appointment is still the most secure... Read more »
What Can I Use as Collateral for a Secured Personal Loan?
June 8, 2008
People often think they don’t have anything valuable to use as collateral for a small secured personal loan - like you might get at a pawn shop. The fact is, the average person’s house is crawling with junk that a pawn shop would be happy to hold onto, if you just know where to look. Here are some of the things pawn shops love to lend money for: Electronics Pawn shops love electronics, and they are probably the most common thing people use to pawn or as collateral for a loan. Some... Read more »
Did You Try The New Way Of Banking?
June 8, 2008
Years ago the only way to pay for something was with a check or a credit card. The idea of debit cards didn’t even exist and people were accustomed to paying for things with checks. Paying with checks offered some cushion for people, though, because checks usually took a few days to clear one’s checking account. That means if payday is on Friday and you buy groceries on Wednesday with a check you will most likely have the funds in your account when the check clears. Today, that is not... Read more »
Good Things About A Good Bank
June 8, 2008
Many people group banks into one big group as if they are all the same. However, that is not the case at all. Banks vary significantly depending on what services they offer, how they treat their customers, and the interest rates they offer. So, you should know that all banks are not the same and it could mean the difference of thousands of dollars to you to do the research and find the best bank for you. All you need to do is go out looking and taking notes. In a little while you will have a good... Read more »
Everyone Is Someone
June 6, 2008
Muhammad Yunus, a professor in Bangladesh, is the creator of a new trend in banking called microcredit in which poor people in countries around the world can take out tiny loans to start a small business. They need no background check and no collateral. There is no interest charged on the loan. The surprising thing is that most are paid back in a timely manner. Until the creation of microcredit, banks only loaned money in large amounts to people starting major companies. These loans were subject... Read more »
