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Mortgage Rates Continue Free-fall - 15 Year Below 4%
Average 30-year mortgage rates dropped again 11 basis points from 4.60% to 4.49% according to BestCashCow/Informa data. Mortgage rates peaked in 2010 at 5.20% in early April, meaning that anyone who got a mortgage at that time can refinance soon, if they haven't already. Fifteen year mortgage rates broke below 4% with the average at 3.94%. That's a 50 year low.
Posted on August 19,2010 by
Fed to Buy More Government Debt to Prop Economy - Mortgage Rates Likely to Fall Further
The Fed today released its FOMC statement, in which it painted a picture of an economy that is not growing as quickly as anticipated. While savers are suffering, mortgage borrowers have never seen rates so low.
Posted on August 10,2010 by
Mortgage Rates Continue Fall - 30 Year at 4.60%
Average 30-year mortgage rates dropped to 4.60% according to BestCashCow/Informa data. That's down from 4.66% and a 2010 high of 5.20% in early April. Fifteen year mortgages rates are close to breaking into the 3% range and now stands at 4% even. Data from the National Bureau of Economic Research indicates that the 30-year fixed hasn't been this low since the 1950s.
Posted on August 10,2010 by
Treasuries Fall on Employment Report - Mortgage Rates to Follow
The 10 year Treasury rate fell to 2.82% today, a 16-year low before closing at 2.83%. That means that 30-year mortgage rates will continue to drop, potentially moving under 4.50%.
Posted on August 07,2010 by
Average 30 Year Mortgage Ticks Up to 4.68% - Still Near Record Lows
Average 30-year mortgage rates ticked up slighltly from 4.66 to 4.68% according to BestCashCow/Informa data. That's down from a 2010 high of 5.20% in early April. Fifteen year mortgages rates are even lower at 4.13%.
Posted on July 21,2010 by
Everbank Offering $75 Cash On Top of Bonus Rate Of 2.25% APY
Everbank is offering up to a $75 bonus for customers who open a high-yield money market and FreeNet Checking account. That's on top of their 3-month guaranteed bonus rate of 2.25% APY.
Posted on July 20,2010 by
5-Year CD Average Drops Below 3% - Savings and CD Rate Update
I took a bit of a summer break on charting the decline in savings and cd rates, hoping that when I returned, the trends would different. I knew it was false hope, and so it was. Savings and CD rates continued their decline, with the average savings rate dropping below 1.3% APY and the 5-year average CD rate breaking below 3% APY. Here's the run-down.
Posted on July 16,2010 by
Fed Keep Rates at 0% Offering No Hope for Savers
The Federal Reserve released its FOMC Statement today and there were no surprises. The Fed reiterated its support for "exceptionally low levels of the federal funds rate for an extended period." That means savers will continue to earn almost no rate of return on savings accounts and very little on longer-term certificates of deposit.
Posted on June 23,2010 by
Mortgage Rates Continue Freefall - 30-Year Average at 4.76%
Average 30-year mortgage rates dropped to 4.76% according to BestCashCow/Informa data. That's down from the high of 5.20% in early April. Homebuyers and homeowners looking to refinance can thank the European debt crisis for the drop below 5%. European debt fears have sent a wave of cash into Treasuries, driving down the 10 year note. The 10 year note is the benchmark used to set 30 year rates and it is now bumping around at its low for the year.
Posted on June 23,2010 by
Bank of America and Other Banks Looking to Eliminate Free Checking
New regulations on overdraft fees and other bank practices have sent banks scrambling to find new sources of the revenue. The first victim may be the concept of free checking.
Posted on June 18,2010 by
Savings and CD Rates Continue Drop - Top CD Rate at 3.31% APY
Savings rates showed little movement last week while CD rates continued to fall. Longer-term CDs led the decline.
Posted on June 07,2010 by
Top Savings Rate Drops to 1.55% APY - CD Rates Steady
Savings and CD rate averages have held steady over the past two weeks although the top savings rate has dropped significantly. Two weeks ago the top savings rate was 1.75% APY and now the top rate is 1.55% APY.
Posted on June 01,2010 by
30-Year Mortgage Rates Fall to 2010 Lows
Average 30-year mortgage rates dropped for the seventh week in a row to 4.85% according to BestCashCow/Informa data. That's down from the high of 5.20% in early April. Homebuyers and homeowners looking to refinance can thank the European debt crisis for the most recent drop below 5%. European debt fears have sent a wave of cash into Treasuries, driving down the 10 year note. The 10 year note is the benchmark used to set 30 year rates.
Posted on May 26,2010 by
Mortgage Rates Drop Again - Average 30-Year Below 5%
Average 30-year mortgage rates dropped below 5% for th first time since March. Fears of rates spiking once the Fed ended its mortgage programs seem to be largely unfounded. Much thanks for the drop in rates has to go to Europe.
Posted on May 18,2010 by
Top Savings and CD Rates Flat - Little Movement in Past Week
Saings and CD rates were mostly flat this past week with the top rates holding.
Posted on May 17,2010 by

Sol Nasisi

Sol Nasisi
Bio: Sol Nasisi, co-founder of BestCashCow, has over 12 years of experience in the banking and finance world. He worked at Bank of America where he was involved in a variety of product lines including online banking, deposit accounts, mortgage products, and home equity. He holds a particular interest in how digital technology can create more transparent financial markets for both institutions and investors. He received an MBA from the University of Texas at Austin and a BA from Tufts University. He is also a graduate of The Graduate School of Retail Bank Management sponsored by the Consumers Bankers Association. You can follow him on Twitter: http://twitter.com/#!/SolNasisi

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