Posted on Monday, 31st May 2010 by Timothy Bell
Potential homebuyers will be happy toknow that mortgage rates have dropped for yet another week, while credit card shoppers can happily take advantage of a new database offered by the Fed thathelps compare terms and prices. Also,those whoare intosaving money might be able to take advantage of Wal-Mart’s $97 iPhone.
Mortgage Rates Continue to Fall
If you’re on the market for a new house and didn’t get to take advantage of the First Time Home Buyer tax credit, maybe benefiting from low mortgage rates could help you instead.
According to real estate websiteZillow.com, mortgage rates for 30-year fixed mortgages had dropped to 4.61 percent on Tuesday afternoon from 4.70 percent while 15-year fixed mortgages were sitting at 4.10 percent, down from 4.13 percent the week prior. Coupled with still-low home prices, these low mortgage rates make it a good time to get out and buy a house. (Reuters)
The Federal Reserve Offers a New Credit Card Shopping Database
In order to honor the Credit Card Act, which proposed to make the credit card industry more transparent, the Federal Reserve has set up a website that allows consumers to compare terms and prices for numerous credit cards.
So far, agreements containing general credit card terms and conditions along with price and fee informationfrom more than 300 credit card issuers are in the database. The database is updated quarterly. (Morningstar)
Wal-Mart Drops iPhone Price to $97
If you’ve been looking for an iPhone but have instead opted for saving money then you’ll be happy to know that the price of the Apple 16GB 3GS iPhone dropped to $97 from $199 Tuesday.
Apple is reportedly working with retailers nationwide to clear out the remaining inventory of this soon-to-be-outdated model to make room for a brand-new iPhone to be unveiled next month. So if you’re looking for a deal on the iPhone, now’s the time to get yours. (CNN Money)
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Tags: Credit Card, Database, Mortgage Rates
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