Federal Reserve Meeting to Determine Prime Rate
The bid news was the Federal Reserve meeting The FOMC met again this month to decide whether to raise the prime rate. It looked to some like they might, but in the end more weak data gave them justification to put it off. Almost all experts expect them to raise the...
Client Doesn’t Realize How Far Her Debt Was…
Client discovers that husband has not made the mortgage payment in 3 months. Lender is about to start foreclosure, and she didn’t know. This was July 2015. Fast forward to July 2016: we finally are ready to refinance, because 12 mortgage payments have been made on...
What is “Hard Money”?
My cousin just got a loan and said he had to get hard money. What is “hard money”? Hard money is also called private investor money. These are loans that are made by private parties, or investment companies, or even crowd funding sites, to people who cannot get...
Back Down to a Quiet Week
Overall it was a quiet week in economic data. August retail sales were down 0.3% t,he August PPI was unchanged, and the weekly jobless claims were up 1000. Collectively that should have helped interest rates come down (bad news is good for rates). The CPI was up...