At the end of last month, New York mortgage rates dropped for the fourth week in a row. According to a survey put out by Bankrate.com, this rendered the mortgage rate figure at 4.5 percent for a 30-year fixed mortgage. In addition, the average 15-year fixed mortgage dropped to 3.56 percent, with the average 5 year adjustable rate mortgages plummeting to 3.37 percent.
When it comes to getting a mortgage, it is important to speak with a few financial institutions and banks before making a decision about how to proceed. Currently, for a 15-year conventional loan, Doral Bank is offering 2.625% annual interest and 3.21% APR. With Amerisave the figures are 2.875% and 3.179% APR. There are many others to research; anyone looking to get a mortgage should also realize that there are various factors that can slightly change the figures.
In addition to current mortgage rates in New York, Bankrate Inc. reported factors that may have affected these lowered mortgage rates. Stock market volatility, for instant, can have an influence as mortgage rates are very much linked to long-term government bond yields. Furthermore, the fact that there has been this plummet is exciting given the fact that the Federal Reserve continues to taper bond purchases. This is unlikely to last forever, however, since the economy will start to stabilize and the Fed will keep tapering; and these aspects are likely to push up mortgage rates.
For now, New York homeowners should make the most of their lowered rates and those looking into getting a foot on the property ladder should consider mortgage options.
CareOne, LLC employees recently set off on a mission to provide free supplies and medical examinations to residents of southern Haiti. CEO Daniel Straus, HealthBridge Management executive, explained that the project was launched alongside the International Humanitarian Aid Foundation, a New Jersey-based organization which runs a school for more than 300 children in Les Cayes, Haiti. Launched in 2010, the education program helps many underprivileged children and orphans acquire a real education.
Straus said: “CareOne is proud to be the primary sponsor of this medical mission. CareOne has long prided itself on being a member of the 29 New Jersey communities we serve, and it is in recognition of both the Oradell connection with the Haitian school and the CareOne employees of Haitian descent that brought about our enthusiastic participation in this most needed work. The need for medical assistance in Haiti is extreme, and our CareOne employees wanted to reach out and help. We are pleased to support them in their efforts.”
Jeff Hoffman, Administrator of the CareOne Oradell Healthcare Center, added: “The team making this trip is committed to making a difference. The support of our corporate parents has been superb, and we look forward to trying to meet the needs of some of those in Haiti who so desperately need medical care.”
“We could not be more pleased at the response of these caring individuals from CareOne,” said Oradell Rotary Chapter President Tom Kelly. “We are proud of the work we have done in helping to establish the Les Cayes school, and we know this medical mission will be of great assistance to these children in need as well as those in surrounding communities.”
Facebook is about to release its earnings report, and Wall Street is buzzing with expectations. Many experts believe Facebook needs to give investors another boost of optimism following their last revelation which proved that mobile advertising is in fact a real business.
Sometimes, good advice can make all the difference. It can help a person make one right decision that will impact the future of their career and change their financial life forever. In honor of the holidays, the Wall Street Journal asked several experts to share the best advice they ever received, or gave.
“An investor should think like a business owner, not a renter. Most businesspeople don’t get up in the morning and ask whether they should sell their business that day. If they own a pizza shop, they don’t think about whether what they really should own is a shoe store instead. They show patience and persistence and try to understand their underlying business better so they can earn the greatest return for the longest period of time.”
“So investors are in many ways misled by stock-market volatility”, he continued. “The values of the underlying businesses just don’t change as quickly as stock prices do. You really don’t have to watch those changes hawklike day after day.
It is in a lot of people’s interests to get you to do something. Advisers and brokers earn commissions, fund companies want you to bring your assets to them. There are a lot of forces at work in the investment industry to get people to move, and there’s not really a countervailing force to encourage you to do nothing. But you should.”
BillGuard, a personal finance startup aimed at helping users save money and protect their finances, recently announced that it will be updating its iPhone app. The update is intended to help users defend against fraudulent charges on their credit cards, as well as to become more proactive with their money. The updates will also help users by updating them about available discounts.
Tech Crunch explains that “by connecting their accounts to its big data platform, the company provided a way for its users to track and dispute fraudulent charges or billing errors on their credit and debit cards. Soon after it moved to tackle the problem of so-called “gray charges”- that is, monthly or yearly subscription charges that users either unknowingly signed up for or signed up for and forgot about.”
In other words, the company has provided users with a reactive approach to personal finance. Now they are hoping to help users make money proactively with its two new app features ‘Spend Analytics’ and ‘Smart Savings’.
“Our core mission is to use data to save people money,” BillGuard CEO Yaron Samid said. “We’re really good at saving people from the bad stuff, and now we want to find the good stuff… The app is like the perfect accountant running in the background and trying to find ways to save money.”
Some investors believe it is a complicated process to purchase gold as an investment, but this does not have to be true. Here is a step by step process to make buying gold easy.
1. Understand the role you want gold to play in your investment portfolio. Knowing what you want gold to do for you can save time and prevent mistakes.
2. Decide what percentage of your portfolio you would like gold to have. There is an old saying which goes, “Put 10% of your money in gold and hope you never need it.” Some experts that depending on an investor’s confidence in the economy, up to 30% invested in gold can be a smart move.
3. Choose the correct gold firm. Check ratings, the Better Business Bureau, and APMEX customer reviews. The company you deal with can make a large difference in your experience of owning gold.
4. When you have done the research you will be able to make an informed decision.
Gold is a traditional hedge for investors. By following these simple steps gold can work its magic for you, too.
In a recent Op-Ed, Yahoo! Finance featured an article about how financial institutions are able to become involved in “fostering and advancing female entrepreneurship in their respective communities.” One example they gave was that of Doral Bank. By the end of this year, Doral will have “invested over $3 million in targeted initiatives and financial mentoring that support the professional and entrepreneurial development of women.” For the past two years, the Mujeres De Exito (Successful Women) program developed by Doral has formed over 30 new businesses owned by women and created more than 100 jobs.
With the 13 percent unemployment rate in Puerto Rico in mind, Doral Bank engineered a program to “bring about new strategies that are spurring employment growth.” The Bank worked in conjunction with the communities it serves as well as the non-profit sector to actualize this program. In addition to providing financial support, the program also offers peer mentoring for these women so that they are given additional potential to become successful in the work field.
The philosophy behind the Mujeres De Exito program is that “this imbalanced reality stunts the Puerto Rican economy as a whole. The tides are now slowly turning on the Island.” Currently, one in three homes on the island is financially led by a woman and programs of this sort offer an opportunity for these women to get further ahead and to look to the future.
Every American living abroad, in places like Switzerland, is trying to make heads or tails of the FATCA implementation that will occur as of January 2014. As explained on the website Geneva Lunch, “Swiss financial institutions will be forced to implement Fatca from this date, irrespective of an agreement between Switzerland and the United States, if they do not want to be excluded from the US capital market. Without an agreement, however, they could not benefit from simplified implementation and would thus be at a disadvantage relative to competitors in other financial centres. It is important therefore that the agreement can come into force on 1 January 2014.”
Swiss banks are trying to figure out how they will meet the requirements of FATCA while still staying true to their unique banking laws.
Lawyer Marnin Michaels of the law firm Baker & McKenzie believes that US taxpayers who reside in Switzerland will fall under the 98% local clientele list.
(Laut dem Zürcher Anwalt Marnin Michaels von der Kanzlei Baker & McKenzie zählen gemäss Fatca US-Steuerzahler mit Wohnsitz in der Schweiz zu den erforderlichen 98 Prozent Lokalkundschaft.)
Others, however, are very concerned about how FATCA will impact on American citizens in Switzerland. The code that will go into effect in 2014 may force banks to practice counter to their regular practices in Switzerland. Since 2009, when UBS was fined by the US Department of Justice, many financial institutions have separated from foreign customers.
Time will tell how this will play out on the international stage.
For anyone who is in business – or even for people who want to learn business principles for other areas of their lives – today there are many lectures offered online from experts. Here are examples of two recent business lectures that can greatly aid those who want to learn.
Robert Harris, President of Robert Harris Resources, Inc,. has recently given a variety of webinars on business and managerial tips. In one of them, “2 Keys to Building Effective Teams,” he points out the following: “In today’s business world there’s a huge proliferation in terms of teams. There are formal (marketing) teams and informal (project) teams. In the latter, people are pulled together on a specific project and they have to collaborate. It’s not their department, they’re just being pulled in.” Harris then discusses how to make that an effective team. Teams play a great role in making a business succeed. He looks at the problems that may arise, and how to deal with them.
At the beginning of this month, James Donovan, Goldman Sachs spoke at the University of Virginia School of Law where he is an adjunct professor. A trusted adviser to some of the world’s most sophisticated organizations, Donovan discussed his views on “the effective management and cultivation of client relationships.” He has worked at Goldman Sachs for the last twenty years in three main areas: Covering clients (advising CEOs of large multinational companies) on financial matters; working on corporate strategy for the company; and managing people. The talk was sponsored by the Career Services Office. And he focused on six key techniques for business management which included bringing in new business, keeping a positive attitude and learning to be creative as a lawyer in business.