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Free Savings Course Teaches Youth to Manage Money Sensibly

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

Educating young people about financial responsibility will make a large impact on the economic stability of the US. What if all of the people who got suckered into taking out sub-prime mortgages they couldn’t afford had gone through financial training as a young person and had developed good budgeting and savings habits?
Order Savings Course Free ... Read more »

Banking Reform: Congress Has Reached Tentative Agreement

Posted by: RateAPY Bank Rates News
April 26th, 2010

Banking Reform Targets Derivative Contracts
Congress worked on banking reform over the weekend and Sunday night made tentative agreements that could be debated as early as today. Senator Chris Dodd, D-Conn. and Senator Blanche Lincoln, D-Ark., announced today that their committees have agreed on the best parts of two bills ... Read more »

Banking Reform Legislation Stirs Up Controversy

Posted by: RateAPY Bank Rates News
April 22nd, 2010

There is nothing like a really horrible crisis to make you smarter. Senator Chris Dodd is trying to learn from the US economy’s recent near collapse and prevent another near financial melt down through his new legislation, Restoring American Financial Stability Act. No one can seriously argue against ... Read more »

Bank Failures Already Number 50 in 2010

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

The FDIC has taken over 50 failed banks so far this year. The large number of failed banks over the past two years has put extraordinary stress on the Deposit Insurance Fund (DIF) account. The FDIC was considered bankrupt last September. At that time, rather than dip into the already worn pockets of American taxpayers, ... Read more »

New Banking Regulation Aimed To End Bailouts

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

Senator Chris Dodd (D-Conn), Chairman of the Senate Banking Committee, says legislation aimed at reforming banks could be considered as soon as April 26, 2010. The legislation is very controversial and is expected to be strongly opposed by giant banks like Bank of America, JPMorgan Chase, Wells Fargo and Citigroup.
FDIC Chairman Sheila Bair has advised ... Read more »

Interest Rate News: Bernanke Testifies To Joint Economic Committee

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

Federal Reserve Chairman Ben Bernanke testified this morning before the Joint Economic Committee of Congress. Interest rates should remain low while the Chairman expects economic growth and recovery to be slow. His tone was cautious as he stated, “if the pace of recovery is moderate, as I expect, a significant amount of time will be ... Read more »

Interest Rate News

Posted by: RateAPY Bank Rates News
April 13th, 2010

Tomorrow morning at 10am ET, Federal Reserve Chairman Ben Bernanke will be questioned about the strength of the U.S. economic recovery by the Joint Economic Committee of Congress. Investors will once again be scrutinizing every word of Mr. Bernanke’s comments to determine if the Federal Reserve might raise interest rates soon.
Interest Rates Could Remain Low ... Read more »

Interest Rate News: FOMC Minutes Released Today

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

The Cycle Around Interest Rate News
The cycle of news around interest rates moves like this: predictions are made about whether or not the FOMC will change interest rates; the FOMC meets; the FOMC releases a statement; then, weeks later, the full minutes of the meeting are released. At each point in the cycle, investors and ... 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 »

Prime Interest Rate Predicted to Remain Unchanged

Posted by: RateAPY Bank Rates News
March 31st, 2010

The Federal Reserve’s Federal Open Market Committee (FOMC) will meet again on April 28, 2010, to determine whether or not to raise interest rates. Traders are making predictions about the likelihood of an interest rate move by the FOMC.
Futures Trading an Indicator of Pime Interest Rate
As of today, as indicated by the traders of Fed ... Read more »