posted by RJ Baxter August 08, 2008 11:42 | permalink | Loan Programs Mortgage Indexes Explained
Prime Rate
The prime rate is the rate that is tied to home equity loans and many credit cards. The prime rate is directly influenced by the Federal Reserve Board's increase or decrease of the Federal Funds Rate- the index that changes when the Federal Reserve raises or lowers rates. If the FOMC raises rates by .25%, then the Prime Rate will adjust up .25%.
Although unemployment numbers can sometimes be inaccurate, and are many times revised in subsequent months after the initial release, it is becoming more apparant that higher unemployment and a weak labor market is here to stay.
The unemployment figures releasted yesterday are an earmark of recession, with continuing unemployment claims well over 400,000 which is consideredd the benchmark for recession.
Many economists think unemployment will get worse before it gets better. I have ...
The world is saturated these days with real estate gurus who share their secrets on how they became wealthy investing in real estate. Nothing down, other people's money, desperate sellers, foreclosures- they preach get rich quick schemes that seem fool-proof.
It is true- real estate can be an investment strategy that anyone can use to become wealthy and financially independent. However, before you jump off the real estate investing cliff, read this article! ...
Be careful- the mortgage industry is full of dishonest brokers who knowingly try to rip off the consumer. These individuals prey on uninformed home buyers with the full intention of making a sizable commission and never being heard from again. These characters are usually in the mortgage business for only a short period of time and then move on to something else.
Unfortunately, the mortgage industry is not very regulated. The government is taking ...
