RateAPY

Fewer Investments in New Housing Cause Builders Pain

Posted by: RateAPY Bank Rates News
June 16th, 2010

Investments in New Housing Drops
Housing starts fell 10 percent in May as fewer people are making investments in new housing without the government incentive of a tax credit. Construction on single-family homes suffered a 17 percent drop, the worst decline since 1991. The annual rate of homes under construction is now at 475,000, the lowest ... Read more »

Despite Increasing Consumer Investments, Recovery Won’t Feel Good Says Bernanke

Posted by: RateAPY Bank Rates News
June 15th, 2010

Modest Economic Growth
In a recent interview with Sam Donaldson, Federal Reserve Chairman Ben Bernanke said the U.S. is recovering from the Great Recession but that recovery won’t feel good. The economy is growing for the 4th straight quarter but only at a rate of about 3-3.5%.
Investments Not Strong Enough to Outpace Unemployment
Consumer investments and spending ... Read more »

Raising Interest Rates Recommended by Fed Pres Bullard

Posted by: RateAPY Bank Rates News
June 14th, 2010

As mentioned in a previous Money News blurb, three Federal Reserve Bank presidents were openly talking about the FOMC beginning to raise interest rates. Now a fourth may be joining their camp.
Higher Interest Rates Urged by Another Fed Pres
James Bullard, president of the St. Louis Federal ... Read more »

Another Fed Pres Wants to Raise Interest Rates

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

The first Federal Reserve bank president to openly talk about tightening interest rates was Thomas Hoenig, president of the Federal Reserve Bank of Kansas City. He is a voting member of the FOMC and has been the lone dissenting voter on current monetary policy.
More Fed Presidents Favor Raising Interest Rates
Last month ... 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 »

Interest Rate News: FOMC Minutes Released

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

The Federal Reserve’s Federal Open Market Committee(FOMC) meets eight times a year–about every six weeks–to discuss U.S. monetary policy. The most recent meeting was April 27-28. Three weeks after the meeting, the minutes are released. Today, the minutes from the April 27-28 meeting were released. They ... Read more »

New Home Investments Jump To 1 1/2-Year High In April

Posted by: RateAPY Bank Rates News
May 18th, 2010

According to the Commerce Department’s U.S. Census Bureau, home starts were up 5.8% in April and up 40.9% from the same time last year. Home start statistics show that consumers were making investments in new residences, creating jobs during the building phase. Most likely this surge was due to the tax credits of up to ... 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 »