Archive for the ‘Interest’ Category
Friday, February 1st, 2008
Unless you reside under a rock, you have heard that the Federal Reserve cut the Fed Funds target rate from 4.25% to 3.00% in the last two weeks of January. From the economic numbers that I have seen recently, it appears that the cuts were necessary in order to stimulate ...
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Thursday, January 24th, 2008
The Mortgage Bankers Association released their Weekly Application Survey yesterday, and it yielded some interesting statistics. Applications to refinance are up 92% since the beginning of November, while purchase applications are up 7%. Refinancing applications represented 66% of the total last ...
Posted in Interest, Mortgages | No Comments »
Monday, January 21st, 2008
Unless you have been following the mortgage markets closely, you may have missed the dramatic fall in rates over the last few months. According to Bankrate.com, the National Average rate for a 15 year fixed mortgage was 4.93% over night, and 5.42% for a 30 year fixed mortgage. ...
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Thursday, December 20th, 2007
“The most powerful force in the universe is compound interest”. Albert Einstein
The rule of 72 allows one to quickly determine how long it will take, at a given interest rate, to double your money on and investment.
For instance, if you have $1000 that is earning interest at the ...
Posted in Interest, Savings, Tips | No Comments »
