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Budgets Are Proven To Improve Savings

Posted by: RateAPY Bank Rates News
June 3rd, 2010

Savings Are Easier with a Budget
It is much easier to spend without regard to where the money goes. However, that is no way to make sure you are getting the most of your limited dollars. Budgeting and tracking your spending is a proven way to improve savings.
Making and sticking to a budget is invaluable for:

finding ... Read more »

Interest Rates Likely to Remain Low Due to Low Inflation

Posted by: RateAPY Bank Rates News
June 3rd, 2010

Analyst Predicts Low Inflation
Ray Dalio of Bridgewater Associates spoke to SmartMoney.com and offered a prediction that inflation would remain low. Low inflation means the Federal Reserve will likely keep interest rates low to stimulate the economy.
Refinancing–But No Debt Reduction
Dalio’s interesting commentary included these points:

Governments around the world are printing money like never before, but with ... Read more »

From Credit Addict To Savings Addict

Posted by: RateAPY Bank Rates News
May 27th, 2010

Get rid of the buy now, pay later mindset. Saving in advance for a large purchase, such as a new computer, is much more satisfying and far less expensive. Open an online savings account and set up regular monthly transfers. The larger the purchase, the longer you will need ... Read more »

Bad Credit Will Cost You More

Posted by: RateAPY Bank Rates News
May 11th, 2010

The Federal Reserve recently tightened regulations on credit card companies making it harder for them to raise interest rates. This has caused a back lash from the larger companies because it restricts how they manage bad credit risk. In the past, when a customer missed a payment, they could raise the interest rate in line ... Read more »

Greek Debt And Your Savings

Posted by: RateAPY Bank Rates News
May 10th, 2010

EU Guarantees Greece A Trillion Dollars
A trillion dollars? Really? How much is that exactly? It is precisely enough to make taxes take off like a space shuttle. The interest that you earn on your savings is the price the banks are willing to pay to use your money. The banks don’t really need your money, ... Read more »

Mortgage Rates Back To March Lows

Posted by: RateAPY Bank Rates News
May 7th, 2010

The average rate for a 30-year fixed conforming mortgage was 5.00% with 0.7% points this week, according to the Freddie Mac Primary Mortgage Market Survey (PMMS). That is a .06% improvement from last week, continuing a month-long trend towards better mortgage rates. Last year at this time, the 30-year fixed ... Read more »

Investments in Wake of Greek Tragedy: Traders Turn Risk Averse

Posted by: RateAPY Bank Rates News
May 6th, 2010

The stock market has been hammered for four straight days as investors seek safety once again. Three are dead in Greece because protesters set fire to a bank near Athens. Protesters are angry with the government for planned spending cuts and tax increases. Sovereign debt issues in Greece require 110 billion Euro in bailout funds. ... Read more »

FHA Loans Just Got More Expensive

Posted by: RateAPY Bank Rates News
April 5th, 2010

Up Front Mortgage Insurance Premium (UFMIP)
Effective today, April 5, 2010, the UFMIP on new FHA purchase and refinance home loans has increased from 1.750% to 2.250%. The .500% increase will mean that each $100,000 borrowed will be $500 more expensive to insure. The UFMIP on FHA loans is normally financed. Financing the increased insurance will ... Read more »

Increase Your Savings By Paying Off Credit Card Debt

Posted by: RateAPY Bank Rates News
March 19th, 2010

Imagine how much more of your money you could keep and invest if only you weren’t paying interest to credit card companies. If you find yourself in credit card debt, make a plan. Here are a few ideas.

Cut up the credit cards and stick to a budget.
If your expenses exceed your income, consider making changes ... Read more »

Increase Your Savings By Paying Off Credit Card Debt

Posted by: RateAPY Bank Rates News
March 19th, 2010

Imagine how much more of your money you could keep and invest if only you weren’t paying interest to credit card companies. If you find yourself in credit card debt, make a plan. Here are a few ideas.

Cut up the credit cards and stick to a budget.
If your expenses exceed your income, consider making changes ... Read more »