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Inflation is a major factor determining the level of interest rates. The longer the duration of the loan, the greater the risk that inflation can accelerate, reducing the purchasing power of the loan repayment. So, rates generally are higher on long-term loans than on short-term loans, because people who lend for longer periods
Wilshire State Bank is currently offering the highest six month CD rate available nationally by a rather significant sum. The six month rate presently available at Wilshire stands at 2.52%. This CD rate is a whopping 49 basis points or 49/100 of a percent above the next best six month CD rate. The average for
Bank CD interest rates were essentially unchanged this past week while mortgage rates and Treasury rates moved markedly higher. Based on the most recent survey of bank rates performed by Selectcdrates.com, the average interest rate in the CD rate index slipped by just 2/1000ths of a percent while the average 30 year mortgage rate available
In a low yield or low interest rate environment, extending the term or maturity of fixed interest rate investments becomes increasingly risky. Inflation is a permanent facet in modern finance. Low rate environments leave little room for rates to go lower and with inflation not likely to be eradicated, rising interest rates are generally only
Always keep a watchful eye on the movement of interest rates and inflation. Inflation can erode the value of your savings, especially low yielding short term savings, by devaluing the value of your dollars. Over time, inflation can decreases the purchasing power of investments rather substantially. Find the best CD rates and
Charging an illegally high interest rate on a loan.
An endorsement on a check by a bank customer put there only to get the bank to cash the check for someone else, usually a non-customer. The endorser making the accommodation doesn’t benefit from the check or otherwise use it, but agrees to pay for the check if it bounces.
First Bancorp is a bank holding company that is headquartered in Troy, North Carolina. First Bancorp owns and operates First Bank, a state-chartered community bank that was founded in 1934. First Bank operates 74 branch offices with 63 branches operating in a 21 county market area in the central piedmont and coastal regions of North
The holding of property by two or more persons so that, upon the death of one joint owner, the survivor or survivors become the owner(s); differs from tenancy in common and tenancy by the entirety.
A variety of systems and technologies for transferring funds electronically rather than by check. This includes Fedwire, automated clearinghouses (ACHs), and other automated systems.
Bank interest rates moved noticeable lower this week. CD interest rates, mortgage rates, credit card rates and Treasury rates all dipped down for the week ending July 29, 2011. The U.S debt stalemate has crushed equities in the month of July and pushed interest rates demonstrably lower.
The stock market experienced its worst July in over
Bank checking accounts come with numerous features and services. One checking account feature can be applied for most any checking account, a check book that has carbon prints for record keeping. Checkbooks that automatically make carbon copies of checks may be a good idea if good record keeping isn’t your strong suit.
The best certificate of deposit rates for the week ending May 8, 2009 saw declines for the short term and midterm rates and an increase for the long term CD rates. The average for the best two year term CDs were unchanged for the week. The average of the top ten CD rates with a
Fear and uncertainty is driving down interest rates bringing some good news to new borrowers but not so good news for those with money invested in the markets. The economic troubles in emerging markets and the selloff in China is casting doubt about the strength of the US economy.
Fear and uncertainty in the markets has
A certificate of deposit bought through a brokerage. Many brokerages carry a wide variety of CDs. They can be sold before maturity without an interest penalty but whether you receive an amount equal to your original investment depends on market conditions.
Most all banks are now very similar in the US. Technically, there are three main types of depository institutions or banks; banks, thrifts and credit unions. Thrifts and banks are very similar in structure, regulation and products offered. Credit unions are have some restrictions on members and are generally only available regionally.
The best CD rates for the first week of July were up modestly on the back of a better than expected monthly jobs report. Relative to the strength in the jobs report, the overall increase in CD rates was quite tame, rising by just 3/1000ths of a percent from the last week in June.
There is no question that you need short term savings. The next logical question is exactly how much you need to have in your short-term savings accounts. The answer varies by the individual.
Your Age and Family Situation
Your age and family is a large factor in your savings plan. Young, single individuals
A mutual fund is an investment company that sells shares and invests the proceeds in a portfolio of securities. These securities include stocks, bond, money market instruments, real estate, precious metals, cash, and other asset classes. The mutual fund buys a portfolio of securities selected by a professional investment adviser to meet a specified financial