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Bank lending rates and savings rates moved in opposing directions this past week with mortgage rates retreating and CD rates advancing. Mortgage rates saw a drop in borrowing costs across a broad spectrum of home loan products over the course of the week. CD rates moved higher with as much as vigor as the mortgage
As the markets absorb the new Fed policy to buy long term bonds, referred to as operation Twist, certificate of deposit rates continue to press on to lower levels. This week, CD interest rates reacted to the Fed’s desire to drive long term rates lower with CD rates experiencing yet another down week. Unfortunately, it
A type of safe usually located in groups inside a bank vault and rented to customers for their use in storing valuable items.
A mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.
The intense stock market volatility surfacing late this summer has done little to impact bank and credit union certificate of deposit rates. While the stock market has seen days in which the major indices have moved by multiple percentage points from the open to the close, CD rates have showed little volatility continuing a mostly
CDs can be a great investment option for getting a good guaranteed rate for a specific period of time. When you don’t need on the spot access to your funds, bank CDs can be very attractive to you especially with the top rates being offered by Florida’s Riverside Bank. The interest rate on these bank
Alarion Bank is a Florida bank that provides a number of financial products and services for consumers along with competitively priced certificates of deposit. Alarion Bank is headquartered in Ocala, Florida. The bank has branches in Ocala, Gainesville, and Alachua, Florida. Alarion Bank offers diverse products and services that range from simple checking accounts and
Before the ATM cash had to be withdrawn either at the bank or through cash back arrangements at the store. Both were annoying and inconvenient. However, the process of obtaining cash became revolutionized when the ATM came into existence. With the ATM customers can get the cash they need without having to
Percentage a borrower pays for the use of money, usually expressed as an annual percentage
With short term rates drpping and long term rates rising, some bank customer may be discovering that the certificate of deposit they hold is no longer earning a competitive interest rate. The problem that arises when the majority of an investors funds are tied up in one or two CDs. It may be beneficial to
A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default.
Busey Bank N.A. is bank with approximately $450 million in assets that is part of the First Busey Corporation. First Busey Corp. is a $4.3 billion holding company headquartered in Urbana, IL. Busey Bank in Florida is headquartered in Port Charlotte, Florida and has eight bank branches serving southwest Florida. Busey Bank is state chartered
Lotus Bank is a State chartered full service commercial bank headquartered in Novi, Michigan. The bank provides a full range of retail and commercial banking services designed to meet the borrowing and depository needs of small and medium-sized businesses and consumers in local areas. Management of Lotus Bank believes that local ownership and control allows
The Christmas club account is one such account that you are describing. These savings accounts were designed by banks to allow deposits throughout most of the year and then the account can be withdrawn for holiday spending. Unfortunately, most bank instruments generally do not have features for unlimited deposits and very restrictive withdrawals.
Central Bank is a local community bank located in Hillsborough County, Florida. As a local community bank, Central Bank’s goal is to serve the community, its people and local businesses. The bank offers an array of savings products for consumers from their one location in Tampa.
Central Bank CDs are available in a variety of terms.
Bank rates moved visibly lower again this past week. Just when many financial analysts thought the economy was headed in a sustained positive climb and rising rates were soon be on the horizon, Friday’s lousy jobs report put a damper on any rosy economic outlooks. Poor housing sales combined with extremely slow job
A corporation, trust, or partnership that invests pooled shareholder dollars in
securities appropriate to the organization’s objective. Mutual funds, closed-end funds, and unit investment trusts are the three types of investment companies.
A trust, which may be cancelled or changed by the grantor. Only after death of the grantor does ownership of assets transfer to named beneficiaries.
While many financial soothsayers have been predicting an eminent rise in interest rates, the week ended with interest rates noticeably lower yet again.
The top bank CD rates were lower on the six month, one year and five year maturities while the two year CD rates remained unchanged for the week. Bank CD interest rate reductions
Banks’ legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off.