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Mortgage Rates Heading Back Down

March 26th, 2020|

Mortgage rates are heading back down after the recent bump up. Rates on long bonds have stabilized somewhat after the turmoil in credit markets the past couple of weeks. Freddie Mac's Weekly Survey was released [...]

Bank of America Offering Payment & Fee Assistance

March 23rd, 2020|

Bank of America is offering payment and fee assistance to its customers on a case-by-case basis. Consumer and small business customers can request payment deferrals on lending products like: small business loans, credit cards, auto loans, [...]

Tax Day Extended to July 15, 2020

March 20th, 2020|

Today, the Treasury Secretary announced individual taxpayers and businesses will get an additional 3 months to file and pay federal income taxes for 2019. Seems fairly simple and straightforward. We await the implementation details from the [...]

Fannie Mae Announces Payment Relief for Mortgage Borrowers

March 20th, 2020|

This week Fannie Mae announced details of their plan to help borrowers impacted by the coronavirus pandemic. Their plan can help borrowers unable to make mortgage payments and can reduce or suspend mortgage payments and eliminate [...]

Freddie Mac Announces Enhanced Relief for Mortgage Borrowers

March 20th, 2020|

This week Freddie Mac announced an expansion of its forbearance program to help borrowers impacted by the coronavirus pandemic. Their plan can help borrowers unable to make mortgage payments and can provide payment relief up to [...]

Student Loan Interest & Payments Temporarily Waived By President

March 20th, 2020|

Today, President Trump announced that upon request student loan payments can be suspended by borrowers for 60 days or more. This announcement further clarifies and enhances the announcement from last week about deferring student loan interest. [...]

30 Year Mortgage Rates Continue To Rise

March 19th, 2020|

Mortgage rates were on the rise again this past week after 30 Year Fixed Rate Mortgages previously hit record lows a few weeks ago and demand for loans shot up rapidly. Rates on long bonds [...]

90 Day Extension To Pay Federal Taxes Announced

March 17th, 2020|

SEE NEW ARTICLE FROM MARCH 20, 2020 FOR UPDATED INFORMATION Today, the White House announced individual taxpayers will get an additional 90 days to pay federal income taxes due for 2019. Like the recent student loan [...]

Prime Rate Drops To 3.25%

March 15th, 2020|

After today's 1.00% emergency rate decrease in the target range for the Fed Funds Rate, banks adjusted their Prime Rates with a corresponding decrease from 4.25% to 3.25%. These changes are effective for many banks tomorrow, [...]

FOMC Cuts Fed Funds Rate to Zero at Emergency Meeting

March 15th, 2020|

The Federal Reserve cut the Fed Funds Rate to zero at an emergency Sunday FOMC meeting today in response to the increasing threat to the economy from the novel coronavirus pandemic. The rate will now be [...]

Student Loan Interest Temporarily Waived By President

March 14th, 2020|

SEE NEW ARTICLE FROM MARCH 20, 2020 FOR ADDITIONAL CURRENT INFORMATION On Friday, President Trump announced a temporary waiver on student loan interest for federal student loans owned by the federal government. There is no clarity [...]