Articles

The average rate on a 30-year fixed rate mortgage continued to see-saw around the 5% range, dropping by 8 basis points from 5.05% to 4.97% after rising 12 basis points last week (a basis point is one one hundredth of a percent). The BestCashCow averages also dropped, with the average 30-year fixed rate mortgage moving from 5.042% to 5.015%.

The United States Government has made a billion dollar profit by selling warrants in Bank of America to undisclosed investors.

iGOBanking is now offering some pretty decent gifts along with their competetitive CD rates to open a CD. They have just launched a new website called giftsforbanking.com that showcases the gifts they provide. The type of gift you'll receive depends on the amount of money you deposit into the cd as well as its term.

Walking away from your mortgage is not as easy as you may think!

If you are paying your credit card balances down, join the club. More than half the people in the country are doing that for various reasons.

Average CD rates showed upward movement this week. The average 1-year CD rate remained steady at 1.84% APY. The top rate remains at 2% APY but it is now offered by First City Bank. First City is offering a great rate but be sure to stay under FDIC insurance limits - it is rated as 0 stars according to Bauer Financial for its safety and soundness.

The Board of Directors of Goldman Sachs has rejected demands made by a group of shareholders to overhaul the way it pays it's executives and employees. A lawsuit has also been filed.

The Obama administration is under increasing pressure to focus on the housing crisis. What are some of the factors that are creating this pressure?

Did you know that Geico was in the business of issuing credit cards at one time? That was until Warren Buffet put a stop to it!

Scarcity of well-rated, tax-exempt bonds continues to support very low nominal yields on municipal bonds, with an assist last week from a stronger Treasury market. Throughout the crisis, municipals have been variously treated as a safety instrument (that moves with Treasuries) and a spread product (that moves counter, generally). At this point, there are enough buyers along most of the yield curve to outweigh increasingly hyperbolic reporting on the looming credit crisis in our sector.

The Bureau of Economic Analysis released the personal income and personal consumption numbers for January and they show that personal consumption, which makes up 75% of the economy is back to 2006 levels.