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Banking Rates

With an economic recession looming on the horizon, many people have been rattled by recent job losses and a decline in most housing markets. But curiously, the outlook for interest rates may actually be improved by recent developments in the economy. With easing inflation, not only housing prices, but also yields on treasury bonds, tend to go lower. Since 30 year fixed rate mortgage rates usually track with yields on treasury notes, you may find the lowest interest rates on loans during a recession.

The Federal bank bailout may also keep interest rates low in the coming months. In November, when the Federal Reserve announced its plan to buy up debt and mortgage-banked securities from the distressed mortgage lenders Fannie Mae and Freddie Mac, that also reduced those lender’s financing costs, enabling them to pass on savings to consumers in the form of lower interest rates.

If you are shopping for a home loan, now may be a good time to compare interest rates and find the best rates on home loans.

Banking 101

Curious about banks and how they work? Here is what you should know when it comes to banking:

• What is a Bank's Routing Number?
• What is the Federal Reserve?
• Reading and Writing Checks for Beginners
• Why Different Banks Offer Different Interest Rates
• Using Online Bill Pay and Notices
• Balancing and Reconciling a Checkbook
• Linking Checking Accounts
• How Banks Make Money
• How An Institution Become a Bank
• How Interest Rates Are Determined
• Traditional Banking Activities
• How Banks Are Rated