Where Is The Prime Rate Today?

The prime rate is currently 6%. This is the rate at which banks lend money to their best customers. It is a benchmark used for setting various consumer loans, like credit cards, auto loans and home equity lines of credit. It is not a rate related to the rate of a first mortgage. The prime rate has dropped recently and a possible trend is that it will continue to drop. A key savings rate has also dropped. In other words money market acounts at banks or credit union and certificate of deposit rates have also decreased. Finding money market rates over 4.0% is nearly impossible now. CD rates over 3.5% are rare unless you want to tie up your money for 5 years. Real estate remains a great investment if you buy right and hold for the long term.

Is There A Credit Crisis?

There has been a lot of talk about credit, mortgages and the economy lately. Do you think the economy is good or bad now? Is your business increasing or slowing down? Do you plan on receiving a tax rebate check in May? Do you think the tax rebate plan is a good idea? Do you know what the tax rebate plan is? If you receive a check will you spend it or save it?

Feds Announce New Foreclosure Plan

Project Lifeline debuted today - a federal government program designed to stall or stop the foreclosure process - for homeowners behind on their mortgage payments. Six of the nations largest lenders are contacting customers who are behind 90 days on their mortgage and trying to modify or work out payment agreements with them to stall or stop the foreclosure.

5.25% Mortgage Rate

A 15 year fixed mortgage is now available at 5.25% on loan amounts up to $417,000 for qualifying borrowers. Apply today. This rate is available without any points. It has an annual percentage rate of 5.39%.

5 Year Jumbo Arms Available Below 6%

We are now offering a mortgage loan over $417,000 on an owner occupied home below 6% for borowers with good credit and equity. The 5/1 Jumbo Arm is a 30 year mortgage loan with a fixed term for 5 years. Call to apply.

Storm Slams State

A major winter storm slammed the state Wednesday causing near white-out conditions over most of southeastern Wisconsin. Schools shut down, offices closed and few drivers braved the roads. Skiers, snowboarders, and those who sled and snowshoe enjoyed the sticky snow storm.