Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.
Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.
Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.
Read about todays credit union news:Lower-Income Americans Can Buy First Homes Thanks to Ohio Credit Unions
[Press Release] PR Newswire - Sep 25
As home prices rise along with interest rates, the dream of homeownership becomes more and more distant for many Americans. But Ohio's credit unions are helping lower-income Americans buy their first homes and begin building personal wealth.
Demand for loans shifting
BizJournals - Sep 24
NORTHEAST FLORIDA -- The slowing real estate market has hit home for lenders at banks and credit unions, especially in residential lending, where some financial institutions are taking steps to protect themselves from changing realities.
Open Solutions' TCCUS - Standard Market Edition Gains Momentum Among Smaller Credit Unions
[Press Release] Business Wire - Sep 19
Open Solutions Inc.® announced that since January 2006, 32 credit unions have implemented or are in the process of implementing a traditional version of its enterprise-wide data processing platform, The Complete Credit Union Solution® - Standard Market Edition.
Credit Unions in row with regulator
Ireland Business World - Sep 18
The head of the Irish League of Credit Unions has slammed comments from the Financial Regulator. "I have on two separate occasions phoned you directly to discuss comments you made on the radio.
Credit unions muscle onto new turf
BizJournals - Sep 17
In yet another sign of increased financial muscle, two more major Oregon credit unions plan to offer business lending accounts.
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