Condenetint Fri, 21 Jan 2022 11:07:00 +0000 en-US hourly 1 Condenetint 32 32 China caps weekly policy easing blitz with further rate cuts Fri, 21 Jan 2022 11:07:00 +0000

SHANGHAI, Jan 21 (Reuters) – China’s central bank said on Friday it had cut interest rates in another key monetary policy tool, capping a week of easing measures that underline authorities’ concern over the outlook for the world’s second largest economy.

In response to questions from Reuters, the People’s Bank of China (PBOC) said it had cut rates on its Standing Lending Facility (SLF) loans by 10 basis points (bps) effective Jan. 17.

Under the SLF program, financial institutions can obtain temporary liquidity from the central bank.

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The bank said it cut the SLF overnight rate to 2.95% from 3.05%, the 7-day rate to 3.10% from 3.20% and the 1-month rate to 3.45% against 3.55%.

Reuters previously reported, citing three sources with direct knowledge of the matter, that the bank planned to cut SLF rates following a series of cuts in China’s key interest rates as Beijing eased monetary policy. to enhance cooling activity.

The economy grew 4% in the fourth quarter – the slowest rate in a year and a half – weighed down by a housing market slump and weak consumption amid sporadic COVID-19 outbreaks.

Analysts expect more easing measures in China in the coming months, even as other major global central banks begin to tighten policy and withdraw unprecedented amounts of liquidity injected into their economies to cushion the impact of the COVID-19 pandemic.

China will appropriately step up its policy support for the economy as it faces further downward pressure, Premier Li Keqiang was quoted by state media as saying.

But Li, in remarks on Thursday, reiterated that the government will not resort to “flood-like” stimulus.

“We see that the cycle of monetary policy easing is just beginning. We expect further reductions,” said Paula Chan, senior portfolio manager at Manulife Investments. She said she expects China’s benchmark 10-year yield to test a low of 2.5%.

The yield on benchmark 10-year Chinese government bonds stood at 2.705% on Friday evening. Earlier today, China’s 2-year yield hit its lowest level since June 2020 and last stood at 2.16%.

On Thursday, China cut prime lending rates (LPRs), benchmark rates for mortgages and other types of loans. On Monday, the PBOC surprised markets by cutting borrowing costs on its medium-term loans for the first time since April 2020, and also lowered a short-term lending rate. Read more

Nomura analysts, however, believe the economic boost from the rate cuts so far will be quite limited, as they have been too small to have any significant impact.

The SLF was created by the PBOC in 2013 to meet the temporary liquidity needs of financial institutions, and its interest rates are determined by the stance of monetary policy and other money market rates in China.

Chinese banks can borrow SLF loans from the PBOC using qualified bonds and other credit assets as collateral.

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Reporting by Xiangming Hou and Ryan Woo in Beijing, and Hongwei Li and Steven Bian in Shanghai; Additional reporting by Samuel Shen and Andrew Galbraith in Shanghai; Editing by Jacqueline Wong, Simon Cameron-Moore and Kim Coghill

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Survey seeks black Nova Scotia cancer survivors to fill data gaps Thu, 20 Jan 2022 20:19:32 +0000

A Dalhousie University researcher is looking for Black cancer survivors in Nova Scotia to participate in a voluntary study.

Joy Chiekwe is a master’s student working with Nova Scotia Health in an exercise lab at Victoria General Hospital’s QEII Health Sciences Center for cancer patients and survivors.

“Over the past three years we have run exercise programs outside of Victoria General as well as online since COVID hit and through these over the past few years we have probably (had) over 300 attendees, and of those attendees, only about one or two were — or identified as — black,” Chiekwe said in a Monday phone interview.

“My goal is to increase that and then also because in Canada the Canadian Cancer Society doesn’t discriminate between race or ethnicity when they put their cancer incidences into the big network, so without this valuable data, we’re not too sure which populations are being diagnosed at what rate, and that’s what we’re targeting – the right populations at the right rate.

Chiekwe said researchers could miss a lot of people who are overlooked or simply not represented in the data.

His team isn’t sure why that might be the case, as it appears only Canada doesn’t provide the breakdown by ethnicity, Chiekwe said.

“The United States does. Overseas they record it, individual programs will flag it, but it’s not widely reported, so there might be some missing data and unless you have access to every study or note of the doctor, it is quite difficult to say how many people are diagnosed, so it is more of an oversight by the Government of Canada, I am told.

With better data and a clearer picture of how the African Nova Scotian community is affected by cancer, the researcher hopes to see how to improve overall quality of life after a cancer diagnosis.

“Based on research in the United States and abroad, black people are dying at higher rates than their white counterparts, so if we miss those people in the data, we miss opportunities to limit the disparity there. low,” Chiekwe said.

The online survey is now online via this link.

“My online survey will be open until the first week of February, and then from there I’ll do interviews and stuff to get more in-depth answers to questions and kind of understand the whole story versus to yes- or no-questions online,” Chiekwe said.

After the investigation is closed, her lab will be open “forever”, she said. So getting as many people involved as possible would be great.

About 20 people had signed up as of the start of this week, but because the number of black people diagnosed with cancer is not known, there is no target number for survey participants.

“But obviously the more responses the better,” Chiekwe said.

“It’s an anonymous survey, so a lot of people have a certain mistrust of the healthcare system, but if they know their information is completely anonymous and no one will ever be identified after they complete the survey, that’s probably the most important thing – that they trust the researchers.

How to crush your vacation debt Thu, 20 Jan 2022 14:21:01 +0000

The holidays are gone without a trace. Well, almost. Long after the decorations have fallen, you still have debts lying around.

Don’t let this ruin your year. Here’s what you can do to take control of your vacation debt.


First, gather some important details about your debt. List your accounts for each type of debt you have. Maybe you’ve split your vacation purchases between two different credit cards and a “buy now, pay later” loan, for example.

For each debt, write down the amount you owe, the minimum payment amount, the interest rate, and the payment due date. Staying organized can keep bills from sneaking up on you.

Next, carefully review receipts for your vacation purchases, says Bruce McClary, senior vice president of communications for the National Foundation for Credit Counseling. “Compare it with what’s on your credit card statement to make sure you’re being charged accurately and that there are no mistakes that could prove costly,” says McClary.


Determine how much you can afford to repay each month. The 50/30/20 budget is a framework you can use to balance your debt with your income and other expenses. With this rule, 50% of your monthly income is spent on necessities, 30% on needs, and 20% on savings and debt repayment.

You can also use budget apps like Mint and You Need a Budget to automatically track your spending by category, says Jeff McDermott, a certified financial planner in Saint Johns, Florida.

“It just gives someone a baseline to get an idea of, ‘What do I normally spend? What kind of cash flow should I have to start paying off some of that debt? able to cut back a bit to free up some cash to tackle debt? says McDermott.


Once you have a good idea of ​​how much you owe and your budget, set up a repayment plan. You’ll pay off your vacation debt sooner if you make more than the minimum monthly payments.

McClary suggests using online debt calculators or tools to estimate your debt-free date. “You can test strategies of adding different amounts to the minimum payouts to see how quickly it would pay off.”

If you are unable to pay above the minimum on several debts at this time, you can take care of one at a time. There are two main methods for prioritizing repayment: debt snowball and avalanche.

With the debt snowball, you first pay extra on the debt with the smallest balance, while making the minimum payments on the others. Once you clear that debt, apply the amount you were paying to pay off the next smaller debt, and repeat. With Debt Avalanche, you focus on the account with the highest interest rate first.

“The avalanche, where you attack the debt with the highest interest rate first, usually makes the most sense. It’s mathematically the best,” McDermott said. “The only downside to that is that sometimes it can be hard to feel like you’re progressing if that particular card is really high.”

Which method is right for you? Pick the one you’ll feel most motivated to stay on track with, McDermott says.


Here’s what you can do to speed up the debt repayment process:

CONSIDER CONSOLIDATION. Consolidation combines multiple debts into one payment, usually through a personal loan or balance transfer card. This approach can make it easier to manage your debt and reduce the overall interest rate you pay on it. Usually you will need a good or excellent credit score. Before applying, McClary suggests getting a copy of your credit report and checking your credit scores to get an idea of ​​your eligibility.

NEGOTIATE WITH CREDITORS. Picking up the phone can also pay off. “If you think the interest rate you’re being charged isn’t the best rate you could qualify for right now, talk to your credit card company and see if there’s a lower rate than they can give you or better terms on the card,” McClary says.

EARN EXTRA MONEY. An increase in income gives you the opportunity to pay off your debts more quickly. You can earn money on the side (such as through a dog walking gig or a cash back app) or use a boon, like a tax refund.


This article was provided to The Associated Press by personal finance website NerdWallet. Lauren Schwahn is a writer at NerdWallet. Email: Twitter: @lauren_schwahn.

CIVIC Financial Services quarterly mortgage production soars as mortgage industry volume slumps Thu, 20 Jan 2022 11:03:24 +0000

Our record volume is a direct result of the CIVIC team’s adaptability, commitment and unwavering resilience. I am proud to work alongside our partners and the entire CIVIC family to enable our clients to build wealth through real estate.

While originations for the entire mortgage industry declined during the fourth quarter of 2021, Civic Financial Servicesa leading private institutional lender providing financing to real estate investors, announced that its mortgage production increased nearly 60% from the fourth quarter of 2020. CIVIC’s high volume pushed the lender to the over $6 billion in lifetime creations and 15,000 total units, solidifying its position as one of the leading private lenders.

According to the Mortgage Bankers Association December Mortgage Funding Forecastone- to four-unit overall residential residential mortgages in the United States fell 30% in the last quarter of last year compared to the fourth quarter of 2020. In contrast, CIVIC reported a 60% increase in quarterly home loans, bringing its full year funding in 2021 to over 4,600 loans totaling $1.74 billion and bringing its lifetime production to over $6 billion.

“Our record volume is a direct result of the adaptability, commitment and unwavering resilience of the CIVIC team, which extends beyond our walls and into the homes of our remote working associates, including 181 people who joined us last year,” CIVIC Financial Services President William Tessar said. “I am proud to work alongside our partners and the entire CIVIC family to enable our clients to create wealth through real estate.”

Through a number of planned program initiatives, CIVIC expects continued growth in 2022 as real estate investors respond to growing demand for rental housing. The company’s initiatives include a recently launched no-point pricing option for mortgage brokers and real estate investors, which is typically hard to find.

“We are committed to bringing value to our customers,” added Tessar. “The new pricing option is the first of many exciting loan programs slated to launch in 2022, which include financing for new construction and short-term vacation rentals.”



CIVIC Financial Services, LLC is a leading institutional private lender specializing in financing non-owner occupied investment properties. CIVIC helps investors take advantage of opportunities to grow their real estate portfolios and create wealth through real estate. As a direct lender offering a range of residential and multi-family financing solutions for retail, wholesale and correspondent channels, CIVIC keeps all operations in-house so loans are handled tightly, quickly and efficiently. For more information, please visit

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Is my emergency fund sufficient? Thu, 20 Jan 2022 02:16:58 +0000

Photo courtesy of Crediverso

  • What is an emergency fund?
  • How many do you need?
  • How to build an emergency fund

Emergency funds are a powerful tool for managing your finances. Having an emergency fund will help you deal with unexpected expenses and save you from borrowing money with interest. But how do emergency funds work?

What is an emergency fund?

An emergency fund is a “set aside” fund of money to help you cover any unexpected expenses. This fund works as a contingency plan to help cover costs if you lose your job, have medical bills, home repairs, or any other emergency expense.

How many do you need?

Your emergency fund will vary depending on your income and expenses, but ideally it should cover three to six months of your total expenses. Keep in mind that your emergency fund is meant to help you with your monthly expenses. It is not a fund intended to replace all of your income.

How to build an emergency fund

You should start building your emergency fund by setting savings goals. This will help you determine how much money to set aside based on your personal finances. You then need to compare your expenses to your income. Doing this will give you a better idea of ​​how much you can save from month to month. Finally, it’s best to automate your savings to ensure you keep putting money aside.


Emergency funds help protect your finances and they will help you cover any unexpected expenses that may arise. When building your fund, you need to consider your monthly income and expenses to create the best plan for yourself. Learn more about Credit.

Sedalia Police Reports for January 19, 2022 Wed, 19 Jan 2022 16:40:43 +0000

This article is compiled from Sedalia Police Department reports.

On Tuesday evening, officers responded to the 100 block of South Park Avenue for a warrant check, as a subject residing there had a warrant. Officers contacted the subject and conducted a computer check through Dispatch, where it was learned that the subject had a confirmed warrant from Pettis County for a harmful vehicle violation with cash or $150 bond. William L. Barlish, 84, of Sedalia, was arrested and transported to Pettis County Jail with a court date to be determined.

Sedalia police stopped a car in the area of ​​South Moniteau Avenue and West Broadway Boulevard on Tuesday morning for failing to dim its headlights and other dim indicators. Melissa D. Cartmill, 40, of Sedalia, was eventually arrested for DUI (drugs), two counts of possession of a controlled substance, and possession of drug paraphernalia. Cartmill was taken to the hospital and then to Pettis County Jail, where she was held in 24-hour police custody.

On Tuesday morning, officers responded to the 1900 block of South Sneed Avenue in reference to a disturbance. It was discovered that a couple had an argument which led to a physical altercation. Both subjects suffered minor injuries and refused medical treatment. Officers were unable to determine the primary physical assailant. The incident was documented for a 12-hour domestic violence newspaper. No charges are laid at this time.

Sedalia Fire Department, Sedalia Police and the Pettis County Ambulance District dispatched a non-breathing subject to the 2300 block of West 1st Street Tuesday morning. When officers arrived, the victim was in the kitchen. Subject was not breathing and had no pulse. The victim was deceased and had passed the stage of lifesaving measures. The Pettis County coroner was contacted and they arrived at the scene shortly thereafter. Heckart Funeral Home has been contacted at the request of the family. The victim was transported to the funeral home pending further arrangements.

On Tuesday morning, officers were dispatched to the Probation and Parole Office, 205 Thompson Road, for or a report of a suspect with a Randolph County felony warrant. When officers arrived, contact was made with the suspect and the warrant was confirmed by the dispatcher. Upon confirmation, officers took the suspect into custody and transported him to the Pettis County Jail. Nathan W. Dotson, 35, of Sedalia, was held pending posting a $10,000 cash-only bond on his probation violation warrant on the original felony theft (3rd or greater) charges. and felony resisting arrest, or being returned to Randolph County.

Sedalia Police responded to a hit-and-run accident on West 16th Street and Clarendon Road on Tuesday morning. Upon arrival, a MODOT crosswalk sign was discovered still on the street, along with various other truck parts. Officers located the driver. Thomas Russell Beck, 57, of Sedalia was arrested for driving under suspension, driving while intoxicated, destroying non-municipal property and leaving the scene of an accident. Formal charges have been filed with the Sedalia City Attorney.

Officers were dispatched to the Sutherland store, 3808 South Limit Avenue, in reference to a possible robbery on Tuesday morning. Officers made contact with the suspect, who had warrants for her arrest. Her information was passed on by Communications, which said the suspect had two warrants for her arrest. A warrant for failure to appear was from Benton County for initial charges of possession of a controlled substance, possession of marijuana, and unlawful possession of drug paraphernalia, and one warrant was for a parole violation. Amanda V. Allen-Floyd, 33, homeless, was arrested and transported to Pettis County Jail without bond.

On Tuesday morning, officers were dispatched to the Amtrak station, 103 West Pacific Street, for a report. When officers arrived, they made contact with a suspect and checked his name through Dispatch. Shortly after, officers were notified that the suspect had a Pettis County arrest warrant for 1st degree trespassing. Sergio L. Marcos, 43, homeless, was taken into custody and transported to Pettis County Jail, where he was arrested and released.

On January 13, Sedalia police responded to the police headquarters with reference to a robbery. Officers arrived and made contact with Loss Prevention from the Wal Mart store, 3201 West Broadway Boulevard. They reported a theft that happened on January 8th. On January 18, the suspect came to the police station to surrender. Angel Escobar, 23, homeless, was arrested and transported to Pettis County Jail. Escobar was placed on 24-hour standby pending the filing of state charges for theft.

WATCH: Here are 25 ways to start saving money today

Whether it’s finding cashbacks or simple changes to your daily habits, these money-saving tips can come in handy whether you have a specific savings goal, want to save money, money for retirement or just want to earn a few pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]
Microsoft to Gobble Activision in $69 Billion Metaverse Bet Wed, 19 Jan 2022 05:12:00 +0000
  • Biggest deal in the gaming industry and cash purchase
  • Microsoft would become the world number 3 in video games
  • Offers a 45% bounty for the maker of “Call of Duty”

Jan 18 (Reuters) – Microsoft Corp (MSFT.O) is buying ‘Call of Duty’ maker Activision Blizzard (ATVI.O) for $68.7 billion in the game industry’s biggest deal ever. history as global tech giants claim a virtual future.

Microsoft’s deal announced on Tuesday, its biggest ever and expected to be the largest all-cash acquisition ever, will bolster its firepower in the booming video game market where it takes on leaders Tencent (0700. HK) and Sony (6758.T).

It also represents the American multinational’s bet on the “metaverse”, online virtual worlds where people can work, play and socialize, as many of its biggest competitors already do.

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“Gaming is the fastest growing and most exciting entertainment category on any platform today and will play a key role in the development of metaverse platforms,” ​​said Microsoft Chief Executive Satya Nadella.

Microsoft, one of the largest companies in the world, thanks in large part to enterprise software such as its Azure cloud computing platform and its Outlook franchise, is offering $95 per share, a premium of 45% per share. report at Activision’s close on Friday.

Activision shares were last up 26% at $82.10, still a steep discount to the offer price, reflecting fears the deal could remain stuck in regulators’ crosshairs.

Microsoft has so far avoided the kind of scrutiny facing Google and Facebook, but the deal, which would make it the world’s third-largest games company, will put the Xbox maker on lawmakers’ radars, Andre said. Barlow of the law firm Doyle, Barlow & Mazard SARL.

“Microsoft is already big in gaming,” he said.

However, a source familiar with the matter said Microsoft would pay a $3 billion severance fee if the deal falls through, suggesting it is confident of securing antitrust approval.

Shares of the tech major were last down 1.9%.

The deal comes at a time of weakness for Activision, maker of games such as “Overwatch” and “Candy Crush.” Before the deal was announced, its shares had fallen more than 37% since hitting a record high last year, hit by allegations of sexual harassment of employees and misconduct by several senior executives. .

The company is still responding to the allegations and said Monday it has fired or expelled more than three dozen employees and disciplined 40 others since July.

CEO Bobby Kotick, who said Microsoft approached him about a possible takeover, would continue as CEO of Activision after the deal, although he is expected to leave after it closes, a source close to says plans.

In a conference call with analysts, Microsoft boss Nadella didn’t directly address the scandal, but spoke about the importance of culture in the company.

Gamers play Call of Duty: Black Ops 4 at Paris Games Week (PGW), a video game trade show in Paris, France, October 25, 2018. REUTERS/Benoit Tessier

“It is essential for Activision Blizzard to continue its renewed cultural commitments,” he said, adding that “the success of this acquisition will depend on it.”


Data analytics firm Newzoo estimates that the global gaming market generated $180.3 billion in revenue in 2021 and expects that figure to rise to $218.8 billion by 2024.

Microsoft already has a significant foothold in the industry as one of the big three console makers. It has made investments, including buying “Minecraft” maker Mojang Studios and Zenimax in multi-billion dollar deals in recent years.

He also launched a popular cloud gaming service, which has over 25 million subscribers.

According to Newzoo, Microsoft’s gaming market share was 6.5% in 2020 and the addition of Activision would have increased it to 10.7%.

Executives cited Activision’s 400 million monthly active users as one of the key attractions of the deal and the importance these communities could play in Microsoft’s various metaverse games.

Activision’s library of games could give Microsoft’s Xbox gaming platform an edge over Sony’s Playstation, which has enjoyed a more steady stream of exclusive games for years.

“The likes of Netflix have already said they’d like to make a foray into gaming themselves, but Microsoft made today’s rather generous offer,” said Sophie Lund-Yates, equity analyst at Hargreaves Lansdown. .

Microsoft’s offer is equivalent to 18 times earnings before interest, taxes, depreciation, and amortization (EBITDA) of Activision in 2021. This compares to the 16 times EBITDA valuation of the cash and stock deal of the “Grand Theft Auto” maker Take-Two Interactive (TTWO.O) for Zynga last week.

According to data from Refinitiv, the Microsoft-Activision deal would be the largest all-cash acquisition on record, surpassing Bayer’s $63.9 billion offer for Monsanto in 2016 and the $60.4 billion that InBev proposed for Anheuser-Busch in 2008.

Tech companies from Microsoft to Nvidia have placed big bets on the so-called Metaverse, with buzz around it intensifying late last year after Facebook renamed itself Meta Platforms to reflect its focus on its business. of virtual reality.

“This is an important deal for the consumer side of the business and, more importantly, Microsoft’s acquisition of Activision really kicks off the metaverse’s arms race,” said David Wagner, equity analyst and portfolio manager at Aptus Capital Advisors.

“We believe the deal will close,” he said, but warned, “It will attract a lot of attention from a regulatory standpoint.”

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Reporting by Subrat Patnaik and Supantha Mukherjee; Additional reporting by Ankur Banerjee, Eva Mathews and Uday Sampath in Bengaluru, Kenneth Li, Krystal Hu and Greg Roumeliotis in New York, Diane Bartz in Washington; Written by Pravin Char; Editing by Carmel Crimmins, Mark Potter and Lisa Shumaker

Our standards: The Thomson Reuters Trust Principles.

OVBC ANNOUNCES CASH DIVIDEND Tue, 18 Jan 2022 22:24:00 +0000 Can I take out a payday loan instantaneously?

When you need a fast loan, the lender might not be able to provide you with the funds you need in a matter of minutes, in person or online. If a lender is offering immediate loans, they are likely to try to defraud you. To examine your application and then transfer funds, lenders must wait at least a couple of hours. In general, you will receive cash within 24 hours when applying for one of the most rapid installment loans.

GALLIPOLIS Ohio GALLIPOLIS, Ohio 2022 /PRNewswire/About January 18 2022, Ohio Valley Bench Corp. (Nasdaq: OVBC]

The Board of Directors approved the cash dividend amounting to $0.21 for each common share, payable in February, 2022 to shareholders with a record date of the end to business January 28th 2022. OVBC keeps an ongoing annual quarterly dividend that is $0.21 for each ordinary share.

Chairman and President Tom Wiseman said: “Despite the uncertainty that has characterized the past two years because of this pandemic,” our dedication to remain an independently-owned community bank has never been as strong as ever. We ended 2021 with opening a branch in order that will better service our clients living in Mason County. Mason. We also launched Race Day Mortgage, Inc. as a new branch within Ohio Valley Bank. We were also successful in resuming the IMPACT programme for our employees. This lets our bankers leave their regular jobs to serve in the communities that we love to serve. The loyalty of our shareholders is very important in our efforts to advance, expand and continue to place our customers first.”

Ohio Valley Banc Corp. has its headquarters headquartered within Gallipolis, Ohio. The main companies that the Company has subsidiaries include: Ohio Valley Bank and Loan Central. Ohio Valley Bank is an FDIC insured Federal Reserve member state bank with 16 offices across Ohio in addition to W.Va. It also manages Race Day Mortgage, an online-only direct-to-consumer mortgage company. Loan Central, which specializes in tax preparation and lending, is a finance firm with six branches in the southern part of Ohio. The shares in Ohio Valley Banc Corp. are listed on the NASDAQ Global Market under the symbol OVBC. For more information, go to

Contact: Scott Shockey Where Bryna Butler, (740) 446-2631, 1-800-468-6682

SOURCEOhio Valley Bench Corp.

Daily Mortgage Rates Rise Above 3.9% | January 18, 2022 Tue, 18 Jan 2022 13:36:13 +0000

The 30-year mortgage starts the work week with an average rate of 3.916%. That’s 0.018 percentage points higher than last week’s closing rate. All classes of fixed rate loans are higher across the board, with the rate on a 30-year refinance rising to 4.058%. On the other hand, the rates for adjustable mortgages are all lower.

Well-qualified borrowers considering buying a home or refinancing a home loan should still be able to find competitive interest rates and low monthly payments despite rising rates.

  • The last rate on a 30-year fixed rate mortgage is 3.916%.
  • The final rate on a 15-year fixed rate mortgage is 2.943%. ⇑
  • The latest rate on a 5/1 ARM is 2.409%. ⇓
  • The last rate on a 7/1 ARM is 3.769% ⇓
  • The latest rate on a 10/1 ARM is 4.001%. ⇓

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a credit score of 700 — roughly the national average score — could pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate that 8,000 lenders offered applicants the previous business day. Freddie Mac weekly rates will generally be lower, as they measure the rates offered to borrowers with higher credit scores.

Today’s 30-Year Fixed Rate Mortgage Rates

  • The 30-year rate is 3.916%.
  • It’s a day infold by 0.018 percentage points.
  • It’s a month to augment by 0.393 percentage points.

Most borrowers opt for the 30-year fixed rate mortgage because they like the lower monthly payments and the predictable interest rate. In the long term, however, this type of loan tends to be more expensive than short-term loans since the interest rate tends to be higher.

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Average mortgage rates

Data based on US mortgages closed on January 14, 2022

Type of loan January 14 Last week Change
15-year fixed conventional 2.94% 2.66% 0.28%
30-year fixed conventional 3.92% 3.74% 0.18%
ARM rate 7/1 3.77% 3.39% 0.38%
ARM rate 10/1 4.0% 3.73% 0.27%

Your actual rate may vary

15 years today fixed rate mortgage rates

  • The rate over 15 years is 2.943%.
  • It’s a day infold by 0.033 percentage point.
  • It’s a month infold by 0.424 percentage points.

The lower interest rate and shorter term of a 15-year fixed rate loan is attractive to some borrowers. However, the monthly payments will be higher than an equivalent loan over 30 years and will not suit all budgets.

The latest rates of adjustable rate mortgages

  • The latest rate on a 5/1 ARM is 2.409%. ⇓
  • The latest rate on a 7/1 ARM is 3.769%. ⇓
  • The latest rate on a 10/1 ARM is 4.001%. ⇓

Another loan option is an adjustable rate mortgage. An ARM will have a low fixed interest rate for an introductory period before it becomes variable and begins to reset regularly. A 5/1 adjustable loan, for example, will have a fixed rate for five years. The rate will then reset each year. The risk with an ARM is that the rate may increase significantly once it begins to adjust.

The Latest VA, FHA, and Jumbo Loan Rates

The average rates for FHA, VA, and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 3.74%. ⇑
  • The rate for a 30-year VA mortgage is 3.76%. ⇑
  • The rate for a 30-year jumbo mortgage is 3.601%. ⇑

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed rate refinance is 4.058%. ⇑
  • The refinance rate on a 15-year fixed rate refinance is 3.067%. ⇑
  • The refinance rate on a 5/1 ARM is 2.704%. ⇓
  • The refinance rate on a 7/1 ARM is 3.912%. ⇓
  • The rollover rate on a 10/1 ARM is 4.157%. ⇓
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Average Mortgage Refinance Rates

Data based on US mortgages closed on January 14, 2022

Type of loan January 14 Last week Change
15-year fixed conventional 3.07% 2.77% 0.3%
30-year fixed conventional 4.06% 3.87% 0.19%
ARM rate 7/1 3.91% 3.89% 0.02%
ARM rate 10/1 4.16% 4.11% 0.05%

Your actual rate may vary

Where are mortgage rates going this year?

Mortgage rates have fallen through 2020. Millions of homeowners have responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people bought homes they might not have been able to afford if rates were higher. In January 2021, rates briefly fell to lowest levels on record, but rose slightly for the rest of the year.

Looking ahead, experts believe that interest rates will rise further in 2022, but also modestly. Factors that could affect rates include continued economic improvement and further labor market gains. The Federal Reserve also began to scale back its purchases of mortgage-backed securities and announced plans to raise the federal funds rate three times in 2022 to combat rising inflation.

While mortgage rates are likely to rise, experts say the increase won’t happen overnight and it won’t be a dramatic jump. Rates are expected to remain near historic lows throughout the first half of the year, rising slightly later in the year. Even with rising rates, it will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed acted quickly when the pandemic hit the United States in March 2020. The Fed announced its intention to keep money flowing in the economy by lowering the Federal Fund short-term interest rate between 0% and 0.25%, which is also low as you go. The central bank also pledged to buy mortgage-backed securities and treasury bills, supporting the housing finance market, but began to scale back those purchases in November.
  • The 10-year Treasury bond. Mortgage rates keep pace with government 10-year Treasury bond yields. Yields first fell below 1% in March 2020 and have since risen. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are weak, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels reached historic highs early last year and have yet to recover. GDP has also taken a hit, and although it has rebounded somewhat, there is still plenty of room for improvement.

Tips for getting the lowest possible mortgage rate

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes some work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags can lower your credit score. Borrowers with the highest credit scores are the ones who will get the best rates, so it’s essential to check your credit report before you begin the home hunting process. Taking steps to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which is the share of the house price that the lender has to finance. A lower LTV usually translates to a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rate. Also consider different types of lenders, such as credit unions and online lenders in addition to traditional banks.

As well. take the time to learn about the different types of loans. Although the 30-year fixed rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year mortgage or an adjustable rate mortgage. These types of loans often come with a lower rate than a conventional 30-year mortgage. Compare the costs of all to see which best suits your needs and financial situation. Government loans — such as those backed by the Federal Housing Authority, Department of Veterans Affairs, and Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the right lender will help ensure that your mortgage rate doesn’t increase before the loan is closed.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by more than 8,000 lenders across the United States for which the most recent rates are available. Today we are posting rates for Friday, January 14, 2022. Our rates reflect what a typical borrower with a credit score of 700 might expect to pay for a home loan at this time. These rates were offered to people depositing 20% ​​deposit and include discount points.

More money :

Why 30-40 vehicle convoy no longer used, Governor Abubakar gives reasons Tue, 18 Jan 2022 06:39:45 +0000
  • Nigerian governors no longer use many convoys according to Governor Mohammed Badaru Abubakar
  • The Jigawa state governor said his colleagues are taking serious measures to minimize wasteful spending in their respective areas.
  • He said rather than borrowing money for spending, state governors were prioritizing employment in the education and health sectors.

Jigawa State Governor Mohammed Badaru Abubakar said governors no longer use convoys of 30 to 40 vehicles as measures to reduce governance costs.

Speaking during an interview on Channels Television’s Newsnight aired on Monday, the governor said his colleagues were taking serious steps to minimize wasteful spending in their respective areas.

Governor Mohammed Badaru Abubakar said state governors put the welfare of their people first. Photo: Garba Shehou

“All governors try to look within their spending. You don’t see the governors leaving in a convoy of 30, 40 vehicles. You mostly see us now with three or four vehicles,” he said.

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“Most governors have abandoned wasteful spending to reduce the cost of governance. This is the first step in reducing the cost of governance.

Rather than borrowing money for spending, he explained that state governors are prioritizing employment in the education and health sectors.

According to him, most governors do not employ services that do not have a direct impact on people’s lives.

He also debunked insinuations that governors were heavily feasting on security votes in their respective states.

While noting that the amount budgeted for security votes has decreased significantly, the governor of Jigawa explained that some of his colleagues do not even have security votes.

Governor Abubakar also revealed the steps taken by governors to look beyond oil and generate more money for states’ survival.

One of them, he said, is the zero oil initiative which will create more exportable products that will allow states to generate more revenue.