Sponsored Links

About Prime Rate News Blog

Need to check your credit history? No need to pay. Get free credit report from the government.

Review of Amazon credit card.

President Obama Promotes the Use of Fuel Efficient Technology

In his weekly internet and radio address on Saturday, President Obama focused on the ideal of utilizing fuel efficient technology as a means to lower the cost of energy, as well as decrease the dependency the US has on foreign sources of oil.

On Friday during an excursion to a factory in Virginia that makes jet components, . . . → Read More: President Obama Promotes the Use of Fuel Efficient Technology

Factory Orders Fall As The US Housing Market Stabilizes

The US housing market seems to be regaining some stability now, judging by the rising number of pending sales of previously owned houses in the country. It shot up to a four month high in August after  seeing some decline before that thanks to the end of a homebuyer tax credit. But the fact that it . . . → Read More: Factory Orders Fall As The US Housing Market Stabilizes

Current stock market trends – will the seesaw continue?

If you look at the last year of S&P 500 or Dow Jones you will see a nice seesaw pattern with peaks on January 19, April 26 and small peak on August 26 of 2010. There were at least 3 entry points for where stocks were on sale and where it was possible to make about . . . → Read More: Current stock market trends – will the seesaw continue?

South African Repo Rate drops to lowest level in 31 years

South African Reserve Bank yesterday reduced the repo rate to 30-year low and warned that the speed of recover would slow. This decision was an answer to a strength in rand. Repo rate was lowered 0.5% from 6.5% to 6.0%.

But rand still showed strength after the change probably because investors still see high enough yield even . . . → Read More: South African Repo Rate drops to lowest level in 31 years

Japan gets new stimulus package

Japan is slowly starting to get of the ground after global economy crisis. Recent figures show general domestiproduct growth of 1.5 percent in the April-June quarter. This is much better than 0.4 percent showed in last month estimation.

These news gave boost to Nikkei 225 which finished up 140.78 points or 1.6 percent at 9,239.17.

But even despite optimistic . . . → Read More: Japan gets new stimulus package

Canada’s banks to raise prime rate to 3%

Bank of Canada raised its benchmark interest rate by 0.25% to 1% Wednesday morning.

Major Canada’s banks (TD Bank Financial Group, RBC Royal Bank, Canadian Imperial Bank of Commerce, BMO Bank of Montreal, the Bank of Nova Scotia and National Bank) followed the increase and raised their primary lending rate to 3%.

Several smaller banks also followed and raised . . . → Read More: Canada’s banks to raise prime rate to 3%

No more bonuses for locking customers into higher interest rate

On Monday August 16th Federal reserve published a rule banning lenders from giving bonuses to mortgage brokers and loan officers for locking customers into higher interest rate than needed.

New rule will become effective on April next year but until that time make sure to check on what interest rate you’re getting on your loan. Also according . . . → Read More: No more bonuses for locking customers into higher interest rate