US Banking System

When it comes to Europe, we’re bombarded with news on the latest disaster in Greece, and problems in the periphery. But it appears that Germany, on the other hand, remains an unscathed economic powerhouse.

But is this an accurate representation?

The media seems to think it is. Germany is now the poster for old Europe, reported The Times this month. “Booming exports account for 47% of German GDP and youth unemployment has almost halved in the past five years…These gains are the result of a ten-year programme of labour reform that provides an excellent blueprint for the British Government to turbo-charge the jobs market here.”

Meanwhile, in the Daily Telegraph, Chukka Umunna wrote a controversial article suggesting that UK policymakers had some lessons to learn from Germany.

Read full post…

Franklin Federal Bank is a local bank mortgage lender that serves central Virginia with a wide assortment of home loan products.  Franklin Federal Bank is based in Glen Allen, VA and operates eight bank branches in the Old Dominion State.  Franklin Fed is a local lender where all of the Virginia mortgage loans are originated, processed and closed within the state.

For consumers that want to purchase a new home, refinance an existing mortgage loan for a lower interest rate, make home improvements, pay for tuition, or just plan a vacation, the loan officers at Franklin Federal Bank can help with the loan transaction.  Whether it’s a fixed rate loan or adjustable rate mortgage, a loan for a second home or an investment property program, Franklin Federal Bank offers a wide variety of products. 

Franklin Federal Bank mortgage provides competitive mortgage rates in Virginia with local service.  The loans available from the bank cover a number of different real estate financing needs for customers that often have a variety of different backgrounds and budgets.  Consumers that are concerned about the myriad of loan choices can get help determining the loan amount they can afford and which mortgage product is right based on their background directly from the loan officers at the bank.

Current mortgage rates and terms in Virginia available at Franklin Federal Bank include the following:

30 year mortgage rate in VA is at 4.00 percent with 0.125 points with an APR of 4.043 percent.

20 year mortgage rate in VA is 3.875 percent with 0.205 points with an APR of 3.944 percent.

15 year VA mortgage rate is 3.500 percent and 0.150 points and a 3.580 percent.

10 year VA mortgage rate is at 3.375 percent and 0.153 points for an APR of 3.491 percent.

The VA mortgage interest rates, annual percentage rates (APRs), and points shown are current as of this publication date but are subject to change without notice.  All home loans require bank approval and must meet current underwriting conditions.  The loan rates in VA listed are for loan amounts of $250,000.00 with a minimum 20 percent down payment on a single family home purchase and assume the borrower has excellent credit.  Individual mortgage loan and loan APRs will vary based on the final loan amount, finance charges, down payment, property type, credit and other factors.

Franklin Federal Savings Bank also offers additional mortgage products and rate options in Virginia for refinances and purchases.  To obtain additional information on the bank’s mortgage loan products, contact a Franklin Federal representative at 804.967.7000.

Remember when bank robberies were a glamourous thing that people made movies about? Modern day technology has turned sensational bank robbery stories to hacking headlines. Although hacking is an important security issue that should be addressed and consequently combated, actual bank robberies are more intriguing to report.

This latest story out of California is no exception. The man, nicknamed the Geezer Bandit by the FBI, has robbed a total of 16 banks over the past two years. Fortunately, it appears authorities are making progress in nabbing him after a recent snafu.

For the past two years, a man said to be in his 60s or 70s has been walking into various banks, most recently Bank of America, and using a revolver pistol paired with a note to get his hands on some cash.

The reward for his capture is already at $20,000 as he continues to escape the law.

Read full post…

POUND
Sterling is trading stronger against the USD this morning and is staying relatively stable against the Euro within the 1.19 region. Most recent economic data has been flat with retails sales data out as expected at 0.6%. Market sentiment has improved towards riskier assets but further gains may well be hampered by concerns over the fragile state of the UK economy. There is some speculation of foreign investment flows are aiding the pound with China’s sovereign wealth fund taking a stake in Thames water. The outlook for sterling remains shaky with inflation now lower, the BoE has more room to manoeuvre on quantitative easing in order to starve off the ongoing threat of another UK recession. <

Read full post…

The Monetary Policy Committee (MPC) of the Bank of England has today decided to leave unchanged the UK’s interest rate at the record low of 0.5%.

The scale of the quantitative easing asset purchase scheme has also been left unchanged, at £275bn.

The MPC has also stated that the scheme is expected to run its course by early February, and said that its scale remains under review.

The interest rate has been held steady for almost two years, having been slashed to 0.5% in March 2009 to help alleviate the worst effects of the credit crunch.

As growth appears likely to be faltering and gradual in the immediate future an increase in rates appears unlikely, and there has been some suggestion that the European Central Bank (ECB) may continue its recent cutting of rates.

Should the ECB reduce rates from their present level of 1% it would mark a new record low for the beleaguered single currency.

Schroders Kevin Murphy discusses tips for investors during the ‘worst consumer environment on record’.

Read full post…

The most popular Citicreditcards available on the market today are currently those that are offering the lowest introductory credit card rates and generous reward programs.  Review the top Citicreditcard offers to find the best credit card and best credit card rate that matches your budget and shopping needs.  Compare the best Citicreditcards quickly and easily and apply online to receive a quick credit card approval without delays and hassles.  Here are the top performers from Citi:

Citi Platinum Select MasterCard

The Citi Platinum Select MasterCard is one of the most popular credit cards on the market due to the extended zero percent introductory credit card rate.  Citibank has continued to promote this credit card with a zero APR for both new credit card purchases and credit card balance transfers for an astonishing 21 months.  After the introductory credit card rate expires the standard rate on the card will be from 11.99%-21.99%, depending on the credit profile of the applicant.

The Citi Platinum Select MasterCard also offers card holders discounts on gift cards, travel, merchandise and more for shopping at the cards online shopping site.  In addition, the card comes with some standard card features such as a free extended warranty and retail purchase protection and Citi® Identity Theft Solutions.  The Citi Platinum Select MasterCard comes with these terms and interest rates with no annual fee.

Citi® Platinum Select® MasterCard®

Apply Now!

Citi ThankYou(SM) Preferred Rewards Card

The Citi ThankYou Preferred Card is the top rewards card promoted by Citibank.  Citi is currentlt running a promotion that allows new credit card holders the ability to earn an extra $250.00 in gift cards for obtaining and using the new credit card. 

New Citi ThankYou Preferred Card holders can $250.00 in gift cards when they redeem the 25,000 bonus ThankYou® Points they will receive after making $2,000.00 in purchases within 3 months of account opening.

Other than the bonus rewards, credit card holders will earn 1 point for every $1.00 spent on all purchases.  Card holders will also receive an anniversary bonus every year they are card member.  There is no expiration and no limit on the amount of credit card reward points that can be earned.  The Citi ThankYou Points can be redeemed for merchandise, travel rewards, gift cards, cash and more.  Like the Citi Platinum Select MasterCard there is no annual fee with the Citi ThankYou Preferred Card.

Citi ThankYou(SM) Preferred Rewards Card – $250 in Gift Cards

Apply Now!

There are many other types of Citi credit cards that may fit your needs, including travel rewards credit cards, cash back credit cards, low interest credit cards and more.

Please note that credit card terms and offers are subject to change without notice. Reasonable efforts

Read full post…