Rate Cut - 10/31/07 02:10 PM
Halloween Rate Cut
As of October 31st the Fed has decided to make another rate cut.  They dropped the short term interest rate a quarter of a percent, to 4.5% today.  Fed chairman Ben Bernanke and company decided this to help the housing market crunch.
Investors had been betting on a .25% cut, after last months .5% cut on September 18th.
The federal funds rate is an overnight lending rate for banks, it is important to the economy since it influences how much interest consumers pay on credit card debt, home equity lines of credit and auto loans. It also impacts how much it … (3 comments)

Credit Score Questions Answered - 10/25/07 12:00 PM
HOW CREDIT SCORES WORK
What goes into your credit score?:
Payment History (35% of the rating)Length of Credit History (15% of the rating)New Credit (10% of the rating)Types of Credit Used (10% of the rating)Debt (30% of the rating) (try to keep all balances below 60% of high credit limit)•      Pay all bills on time.  This is probably the most important factor in the Credit Score Calculation.  If you are consistently 30 days overdue, your score can drop by as much as 100 points, depending on how long the account has been open and how long ago the late payment took place.  … (4 comments)

Current State Of The Mortgage Industry - 10/19/07 12:44 PM
 
The Current State of the Mortgage Industry
What Is Happening?
We are seeing unprecedented events right now.  In the last weeks and months, we have seen many companies in the non-conforming mortgage industry experience severe problems.  Many have been forced to close their doors or cease funding loans.  This has affected everyone from Realtors to Mortgage Brokers.
SubPrime rates have continued to rise over the past 6-8 months.  More and more lenders are shutting their doors and ceasing operations.  This has made it harder and harder for low credit borrowers to get 100% financing.  Also, more Full Documentation Loans are needed.  If a borrower … (8 comments)

 
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Clint Haynes

Mount Juliet, TN

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Peoples Home Equity, Inc.

Address: 2685 N. Mt. Juliet Rd., Mt. Juliet, TN , 37122

Office Phone: (615) 288-4452

Cell Phone: (615) 972-8221

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