Best Bank Rates and Deals

Vittorio Hernandez – AHN News

McLean, VA, United States (AHN) – The average 30-year fixed rate loan in the U.S. went down to 4.15 percent this week from 4.32 percent, according to Freddie Mac. The mortgage giant said it is the lowest rate in more than five decades.

Average 15-year rate also dipped to 3.36 percent from 3.5 percent.

Despite the unprecedented low rates, housing demand in the U.S. continues to be weak because of high unemployment rate beyond 9 percent and tighter lending standards.

According to the report released Thursday by the National Association of Realtors, purchases of previously owned homes declined 3.5 percent to 4.67 million yearly. It

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Barclays has appointed Rumi Contractor as chief operating officer, UK retail and business banking.

Mr Contractor will take up the post on 1st March, joining from HSBC where he has been global head of service delivery and chief executive officer, global resourcing, since 2008.

In his new role, he will drive customer service innovation and technology across UK retail and business banking, from product design to improvements to the branch network and customer contact centres.

According to Barclays, Mr Contractor is a recognised leader in financial services operations and technology.

Previously, he has held a number of senior positions at HSBC including chief information officer, HSBC Securities and Investment Bank, New York; chief executive officer, HSBC Software Development Centre India and chief executive officer, global technology.

The Savings account interest rate at Capital One Direct Banking has just changed from 0.85% APY to 0.8% APY with a minimum of $10,000 required. See the full details and rate info at Capital One Direct Banking Money Market/Savings $1000 rate. Interest Plus Online Savings Receive a 10% quarterly bonus on interest earned w/ a monthly average balance of at least $10K or use of a credit card at least once a month. Must receive e-Statements.

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It just came to my attention that Scotiabank recently launched of a new comprehensive

It just came to my attention that Scotiabank recently launched of a new comprehensive ScotiaLife Travel Insurance Program, which has been developed to better meet the needs of its customers.

I find this to be a fitting article because there are plenty of people who go away for the holidays, and in a couple months it will be reading week for post-secondary students, which is the season everyone goes on vacation.

Having travel insurance is important, and it is even more important you have travel insurance that suits your needs.

The new ScotiaLife Travel Insurance program offers comprehensive travel insurance plans, which will provide customers with more options than before when selecting the right coverage.

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Alco Federal Credit Union is still pushing for their money market account which has a very competitive interest rate. This money market deal earns you an interest rate of 1.00% APY when you open an account. You will be required to make an initial deposit of $2,500 to open this best money market account. You also need to maintain this balance or more to earn this best money market rate at the same time to avoid the monthly service fee.

This money in the bank deal allows you to make up to 3 withdrawals per month after which a fee will be imposed for every transaction you make. The minimum withdrawal amount is $300. The dividend earned on this money market account is compounded and paid every quarter. Take note that the credit union may change the interest rate of this money market deal anytime without prior notice.

The credit union also provides additional perks which you can take advantage of like free online banking with bill pay, free electronic bank statement, and free telephone banking.

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Linda Young – AHN News Writer

Sao Palo, Brazil (AHN) – Brazil’s central bank cited a “substantial deterioration” in its outlook for the economy and unexpectedly announced a cut in its key interest to 12 percent from 12.5 percent.

Rising prices have been a problem in Brazil, and the central bank had raised its key interest rate five times this year in an effort to contain inflation.

However, inflation is still running at a six-year high of 7.1 percent.

The continued high inflation rate couple with the unexpected cut coming a few days after several politicians had called for a rate cut. Observers say it calls into question the central bank’s independence.

Brazil, which is the biggest economy in South America, grew at the rate of 7 percent last year. This year Brazil’s economy is expected to grow at the rate of 5 percent.

Confidence is sinking fast among UK business leaders, according to a new report from the Confederation of British Industry (CBI).

The eurozone crisis is blamed for a sharp fall in sentiment, together with the possibility of a second banking crisis.

On the eve of its annual conference, the Confederation has published new research based on interviews with senior figures from the FTSE 350 and privately and foreign-owned companies of a similar size.

Of the 122 business leaders taking part, 70% said their level of confidence in the economic outlook had fallen since the beginning of August, although only 30% of respondents believed their company’s prospects had deteriorated.

However, 59% are likely to revise their business strategy; 38% said they are changing workforce plans; 33% are reviewing investment plans; 30% are revising expansion plans; and 28% are altering their financial plans.

Thirty-nine per cent of respondents are adopting a “wait and see” strategy.

When asked how Chancellor of the Exchequer, George Osborne, can stimulate the UK economy, 80% said investment in infrastructure should be a priority, followed by cutting employment taxes (57%), business taxes (48%) and income taxes (42%).

CBI director general, John Cridland, comments: “We’re at a critical tipping point, with the Eurozone crisis reaching a crescendo and UK GDP growth forecasts being revised down.”

He adds: “The Chancellor needs to use his autumn statement to boost business confidence with game-changing new ideas.”

Business leaders were also asked what single Government action would most improve the outlook for UK business going into 2012. Recommendations

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