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First Brands founder indicted for fraud as auto-parts giant collapses on lenders
business27 days ago

First Brands founder indicted for fraud as auto-parts giant collapses on lenders

The founder and former CEO Patrick James and his brother Edward James of auto-parts maker First Brands were indicted on nine counts, including running a continuing financial crimes enterprise, bank fraud, wire fraud and money laundering conspiracy, amid allegations they fabricated growth and double‑pledged collateral, contributing to billions in liabilities and the company’s Chapter 11 bankruptcy. A former executive pleaded guilty, while Ford and GM are providing short-term financing to keep operations going as lenders face losses.

via Reuters|
#bankruptcy#business#first-brands
US Mortgage Rates Fluctuate Around 6.18% This Week
business2 months ago

US Mortgage Rates Fluctuate Around 6.18% This Week

The article reports that the top mortgage lenders with the best rates this week have APRs below 6%, with Citi Mortgage offering the lowest at 5.755%. It emphasizes the importance of shopping around and comparing APRs, which include both interest rates and fees, to find the best mortgage deal. The article also discusses how rates vary by lender and borrower profile, and provides insights on mortgage points and cost savings.

via Yahoo Finance|
#apr#business#home-buying
Best Mortgage Rates to Shop for as Rates Rise, Dec. 15, 2025
business2 months ago

Best Mortgage Rates to Shop for as Rates Rise, Dec. 15, 2025

Mortgage rates slightly increased this week despite a Federal Reserve rate cut, with Navy Federal Credit Union, Citi Mortgage, and PenFed Credit Union offering the lowest APRs among 16 surveyed lenders. Shopping around for the best mortgage rate, especially considering APR and potential discount points, can save borrowers significant money over the life of a loan.

via Yahoo Finance|
#apr#business#home-buying
"Commercial Real Estate Upheaval: Impact on US Banks and Buyers"
real-estate2 years ago

"Commercial Real Estate Upheaval: Impact on US Banks and Buyers"

The rapid rise in interest rates over the past two years has sparked trouble in the US commercial real estate market, particularly in office and multi-family properties. Lenders are already feeling the heat, with some recording losses and cutting dividends. The wave of mortgages coming due could turn a micro problem into a macro one, potentially leading to a financial crisis. Small US banks with significant non-residential real estate exposure are particularly at risk, and the potential failure of hundreds of smaller lenders could cause chaos in the financial system. Regulators may need to prepare for the worst and be clear about the possibility of bank failures, which could lead to mergers with larger and stronger rivals.

via Reuters|
#commercial-property#interest-rates#lenders
"Maximizing Savings: Securing the Lowest Mortgage Rates Today"
finance2 years ago

"Maximizing Savings: Securing the Lowest Mortgage Rates Today"

Mortgage rates have been dropping, with the average interest rate for a 30-year fixed-rate mortgage at 6.60%, the lowest since May 2023. Homebuyers can take advantage of this by considering adjustable-rate mortgages, purchasing mortgage points to secure a lower interest rate, and shopping around for lenders to find the best rates and terms. These options can help buyers secure the lowest rate possible in the current market, which is still volatile despite the decreasing rates.

via CBS News|
#adjustable-rate-mortgage#finance#homebuyers
Mortgage rates decline, but demand falters
finance2 years ago

Mortgage rates decline, but demand falters

Mortgage rates for 15- and 30-year terms have fallen by 0.250 percentage points, with the interest rate on a 30-year fixed-rate mortgage at 6.375% and the interest rate on a 15-year fixed-rate mortgage at 5.375%. It is recommended to check today's rates and compare different lenders to secure the best deal. Factors such as credit score, down payment, loan amount, and repayment term determine mortgage rates, which can be fixed or adjustable. Pros of mortgages include predictable monthly payments and potential tax benefits, while cons include expensive fees and potential rate changes. To qualify for a mortgage, steady employment, income, good credit, and a down payment are typically required. The application process involves choosing a lender, getting pre-approved, submitting an application, and completing the closing process. Refinancing a mortgage is an option for obtaining a lower interest rate, shorter repayment term, or cash-out for home improvement or debt consolidation.

via Fox Business|
#finance#home-loans#interest-rates
Mixed Mortgage Rates: 15-Year Terms Fall, 30-Year Terms Rise
finance2 years ago

Mixed Mortgage Rates: 15-Year Terms Fall, 30-Year Terms Rise

Mortgage rates for 15-year terms have fallen while rates for 30-year terms have risen. It is important to compare different lenders' current interest rates, terms, and fees to ensure the best deal. Mortgage rates are determined by factors such as credit score, down payment, loan amount, and repayment term. Fixed-rate mortgages have a consistent interest rate, while adjustable-rate mortgages can fluctuate with the market. To qualify for a mortgage, steady employment, income, and a good credit score are typically required. Refinancing a mortgage allows borrowers to trade their current loan for a new one with different terms.

via Fox Business|
#finance#home-loans#interest-rates
Mortgage Rates Plummet to Historic Lows, Sparking Buying Opportunities
finance2 years ago

Mortgage Rates Plummet to Historic Lows, Sparking Buying Opportunities

Mortgage rates for 15- and 30-year terms have fallen, with the interest rate on a 30-year fixed-rate mortgage dropping by 0.500 percentage points to 6.375% and the interest rate on a 15-year fixed-rate mortgage decreasing by 0.125 percentage points to 5.750%. It is advisable to check today's rates and compare different lenders' offers to secure the best deal.

via Fox Business|
#finance#home-loans#interest-rates
Mortgage rates fluctuate: 15-year terms drop, 30-year terms rise
finance2 years ago

Mortgage rates fluctuate: 15-year terms drop, 30-year terms rise

Mortgage rates for 15-year terms have fallen by 0.500 percentage points, while rates for 30-year terms have risen by 0.125 percentage points. It is important to compare different lenders' rates, terms, and fees to ensure the best deal. Mortgage rates are determined by factors such as credit score, down payment, loan amount, and repayment term. Fixed-rate mortgages have a consistent rate throughout the loan term, while adjustable-rate mortgages can fluctuate with the market. To qualify for a mortgage, steady employment, income, and a good credit score are typically required. Refinancing allows borrowers to trade their current loan for a new one with a lower interest rate or different terms.

via Fox Business|
#finance#home-loans#interest-rates