The Federal Reserve yesterday confirmed their support for the Mortgage Market and announced their plan to continue the purchase of $85 billion worth of bonds per month. That sounds nice and fancy, but what does it mean for you? It means that interest rates on mortgage loans have decreased, and in turn, you can potentially save some serious cash on your home financing.
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Topic | Smart Savings
Albert Einstein once said, “if you can’t explain it to a six year old, you don’t understand it yourself“. And since Al seems to know what he’s talking about, we’re stripping down HARP to its bare bones:
1. Lower your Interest Rate
We don’t mean to cut your summer short, but it is time to start thinking about back-to-school shopping! While your student runs through the aisles picking out crayons, backpacks and notebooks, the costs will be adding up for you. Did you know the average family with school aged children will spend over $600 during back-to-school shopping? Sounds pretty steep, so be sure to take advantage of some cost saving measures. If you live in one of the 17 states listed below, you can shop tax-free during the corresponding dates. Please check for details within each state for more information: