MoneyCafe.com

This is a look at some of the best interest rates for deposits and loans from national banks and lenders.  (Surveyed over the weekend.)  There was very little change in the rates over last weeks survey.  Most rates did not change at all.

Rates are APY (Annual Percentage Yield)
Assumption: $10,000 deposit

Rates are APR (Annual Percentage Rate)
Assumptions when available:  $320,000 conforming loan,
20% down, excellent credit, documented income,
priced with approximately 1 point loan cost (+/- .50 point)
California property  (Rates Survey between Friday and Monday)

Freddie Mac published their Weekly Primary Mortgage Market Survey today.   The survey shows mortgage rates moved up slightly with an average 30 year fixed rate home loan priced at 5.20%.  This is higher than last weeks survey rate of 5.14% and back to the same rate from two weeks ago. 

See:
http://www.moneycafe.com/library/mortgagerates.htm

The news media is constantly referencing the historic volume of foreclosures, but is short on specifics about how to find a deal on a foreclosed home or get information about homes in your area.   A total of 336,173 foreclosure filings were reported nationwide in June.  Foreclosure activity increased nearly 11 percent from the previous quarter and a 20 percent increase from the second quarter of 2008.  There is definitely opportunity out there if you are looking to buy a home or invest in real estate.

One of the best sources of foreclosure information is RealtyTrac.  The even offer a FREE Trial.   RealtyTrac publishes the country’s largest, most comprehensive foreclosure database, with more than 1.5 million default, auction and bank-owned homes from across the country. RealtyTrac collects and aggregates foreclosure data from more than 2,200 counties, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.          

• More than 1.5 million current foreclosure and pre-foreclosure properties
• Daily e-mail alerts and property updates
• 24/7 Support Center and educational tools
• A wide range of property valuation, transfer and title reports

Upromise is promoting a $100,000 College Dream Sweepstakes where they will award ten prizes of $10,000 each.  Upromise is college saving service that offers a novel way to save for education needs.  It’s worth checking out for your kids or other family members.

Deposit rates steady this week.  Home loan rates jump about 1/3 percent.

This is a look at some of the best interest rates for deposits and loans from national banks and lenders.  (Surveyed Monday morning.)

Rates are APY (Annual Percentage Yield)
Assumption: $10,000 deposit

Rates are APR (Annual Percentage Rate)
Assumptions when available:  $320,000 conforming loan,
20% down, excellent credit, documented income,
priced with approximately 1 point loan cost (+/- .50 point)
California property  (Rates Survey between Friday and Monday)

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