Monday, March 5, 2012

Interest rates low

  • When interest rates were cut to the lowest level on record, the head of the Building Societies Association called it a kick in the teeth for savers. Now, three years on, these same savers may feel they have suffered a full-blown financial assault.
  • (BBC News)
  • The great Austrian School economist Friedrich Hayek had an important insight in Prices and Production which should cause us to be on the lookout for some severe economic pain.
  • (Forbes)
  • Some are even opting for what is known as negative points, to help offset closing costs with slightly higher interest rates. The trend away from points partly reflects borrower sentiment that rates are already historically low, industry experts say.
  • (Herald Tribune)
  • The goal of the Federal Reserves low interest rate policy is to juice the economic recovery.
  • (NPR News)
  • The Federal Reserve has been engaged in aggressive monetary easing ever since the financial crisis began. First, the central bank rapidly lowered short-term interest rates to nearly zero.
  • (CBS News)
  • HACKENSACK - As interest rates have slid over the past couple of years, Gabriel Bousbib of Englewood, Bergen County, refinanced his 15-year mortgage not once, but twice - cutting his interest rate in two steps from about 4.6 percent to 3.
  • (Atlantic City Press)
  • Record low interest rates have robbed savers of £76billion over the past three years, research reveals today. The Bank of England cut the base rate to 0.5 per cent in March 2009 in a desperate effort to save the economy.
  • (This is Money)
  • With 30-year mortgage rates below 4 percent, there probably won't be a better time to refinance your home mortgage. But that's not the only way to take advantage of todays historically low interest rates.
  • (Patriot Ledger)
  • The average interest rate on a new credit card offers fell to its lowest level in more than eight months, according to the CreditCards.com Weekly Credit Card Rate Report. This week, the average annual percentage rate (APR) dropped to 14.
  • (NASDAQ)
  • The Federal Reserve takes a lot of heat from critics for keeping interest rates low. But theres an upside that most people overlook: Low interest rates save the government money.
  • (Yahoo Finance)

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