Gas prices can be a real 'stick' in the eye New York Post
According to Energy Information Administration, the average price of gas in this country is now $3.60 a gallon. That’s down only about 36 cents a gallon since the highest pump price this year, which occurred on May 9.
So, the 36-cent drop at the pump is a little more than half the amount of decline in the financial markets.
Put another way, experts say that consumers have gotten the equivalent of a $55 billion annual break in the price of gasoline when they should be getting around $85 billion.
And while even $55 billion might sound great, the amount isn’t nearly as large as the extra $233 billion a year that car owners had to pay for gas between September and April.
What gives? Why aren’t prices coming down faster.
It has nothing to do with the old-fashioned theory of supply and demand; the amount of gasoline available to us has been relatively consistent over a two-year period.
And while gas supplies now are lower than they were at this time last year, that’s mainly due to refiners deciding to cut back on production.
Should I refinance my mortgage interest rate?
Question by Springstorm: Should I refinance my mortgage interest rate?
Should I refinance my interest rate on my home mortgage? I have been in my home for 9 years and an employee from Chase finance (Chase is my current lender) said for me not to refinance since I have paid off a good portion of the interest. Is this true? Should I refinance? My Chase mortgage interest rate is 6.5 fixed.
Best answer:
Answer by someone
Unless you get a rate of 4.5% don’t bother. Closing costs will eat up the small monthly savings
Know better? Leave your own answer in the comments!
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Does Chevy Chase bank refinance auto loans?
If I look under "personal loans" on their website, I see they offer auto financing. But what about REfinancing, or does this count as the same thing?
If not, can you recommend any reputable companies through which I can refinance my car?
Thanks!
Any bank that does auto financing will do auto refinancing.
Also check into Capital One. they offer great rates and good service.
did anyone refinance a car loan with chase bank?
i have a car loan for 3 months with chase, and they told me that i can refinance the loan in 4 months. my current rate is 12 %. did anyone refinance a loan with chase? how much did they lower the APR. Which bank is the best for car refinancing.
APR will be lowered by 2 percentage. For more details please visit http://loan.sjdinfotech.com
http://badcredits.awardspace.com/refinance-car-loan-bad-credit.htm
If you think your lender is charging a higher interest rate on your car loans then you can look at the refinance car loans option. With the help of a refinance car loan, you can avail multiple benefits. Firstly, you may reduce-->your monthly costs. Secondly, you may avail a competitive interest rate. Thirdly, you could be getting a flexible repayment period. Overall, you will be managing your loan a lot better.
I need to refinance my 2005 Honda pilot Is Bank of America a good bank to try or Chase?
I need to cut my truck payment right now I pay $570. monthly, I still owe 3 and a half years. I have no problem with extending the loan for another year. My current interest rate is a 8%, I have good credit.
I bought the truck used with 8k miles on it that was 2 and a half years ago now the truck has 30k miles on it.
First of all, you should worry more about the rate offered than the bank itself. Usually credit unions have better auto rates than the big banks. Also, the first thing you need to do is go online and find out what the value of your truck is right now. A good site to go to is kbb.com. If the value of your truck is less than what you owe, then you will probably not be able to refinance it anywhere. A lot of people don't understand that the value of vehicles depreciate extremely fast and that is what makes it hard to refinance a vehicle note.
I have to refinance my truck which bank would be better JP Morgan chase or Bank of Amercia?
Well, the best answer would be which ever gives you a better rate. I would see what both have to offer, and the one with the lowest rate gets your business.
They are both great lenders, so either way you go, you'll have a quality bank backing you up. Good luck.
I used "Credit Solution" to settle my loans and improve my credit score.They managed to reduce my loans up to 58% .It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
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Can i refinance my mortgage if i got 20k in credit card debt?
My 5/1 arm will readjust in 8 month. I have a credit score of 730.
Due to credit crunch, will the bank still refinance my mortgage with the 20k credit card debt with Chase/Jp morgan and Bank of America.
The only way it matters is in calculating your debt to income ratio.
If you can afford the new mortgage payment plus your existing(credit card) payments and you have enough equity(FHA allows you to refinance up to 97% of the appraised value) you should be just fine.
(that was funny)
Is your ARM readjusting to a high rate? The prime rate is .25% right now, almost nothing.
Remember there are prepayment pentalties too.
Do you know how much it will be readjusting to? You might be happy just allowing it to do its thing.
Banks are not lending right now unless you have 10 or 20% down. You might be in for some trouble trying to re-fi.
And expect Chase to block your credit limit. Don't pay late or they will hike up your interest to 32%.
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Second, how much equity do you have in your home? The value has decreased in many homes. You home could be worth less than your mortage balance. To refi, you need at least 20% equity.
Third, that $20K in credit card debt will work against you in getting approval for a decent interest rate mortgage. You should take the next 8 months and work on pay it off.
Do you have to pay any closing costs when you refinance your home?
I've been in my home for about a year, and with the fed cutting interest rates I've been thinking about trying to consolidate my two loans into one low interest mortgage. I've got 25% through Chase at 8.75% and the remaining 75% through Wells Fargo at 6.25%. I'm thinking about refinancing, but am wondering if I'd have to pay closing costs again. Does anybody know about the process involved? Thanks.
Yes, you have to pay closing costs REGARDLESS of what they tell you.
You'll either pay it in a rate hit, out-of-pocket, or they will roll it into the mortgage...but it will be there.
You will get a Good Faith Estimate and a TIL, just like you did with your original loan that will spell out the terms.
Here is the rule of thumb:
1. Make sure that you are beating your interest rate by a minimum of 1%.
3. Check for a prepayment penalty first.
3. Make sure that your monthly savings outpace the closing costs to 'recoop' in no more than 36 months, or it's not worth it.
For example, if your combined monthly payment is $1,000 per month, and your NEW mortgage payment will be $850 per month, and let's say your total closing costs are $3,000...you take the $3,000 and divide by the $150 per month savings...the figure that pops up on your calculator should be 36 or less.
Make sure you are also, planning on being in the home for longer than the number of months that pops up on the calculator...or else you have refinanced for nothing, and it's just money flushed down the toilet.
Secondly, the fed rate cuts have nothing to do with long term mortgage interest rates and will not affect them.
Lastly, the answer to your question is yes, you would have to pay closing costs again unless you do a "no cost refi", in which case your rate would be higher than if you payed for closing.
I would suggest that your first step in your decision making process would be to get an evaluation of the value of your home. If my suspicions are correct, you may not be in a position to refi anyway.
Have a 5 year interest only loan on home, upside down on home Can i refinance or how can i switch to 30yr fix?
My mortgage company is Chase. What can i do?
Contact your company and see how they would feel about refinancing. Its better to do 30 years, and over pay.. and beat the bank.
Personal loan or auto refinance websites?
I am trying to refinance my car through way of either a lender that deals with auto refinancing or through a personal loan. I got denied a loan to refinance my car, but only because the value of my car is like more than half of what I still owe on it.
So are there any reputable sites that deal with personal loans, or auto refinancing? I've already tried lendingtree.com, and that is still processing. And I got denied by Chase.
Please don't visit the other three sites listed on the answer above. I have reported the answer for being spam. They ask for personally identifiable information like SSN without a secure connection. Bad Idea.
A few other sites you can try for refinancing include:
http://www.rategenius.com
http://www.myautoloan.com
http://www.umbrellaauto.com
Some have credit unions as lenders, but try a local credit union as well.
Are you looking to refinance or need financing for a new home purchase? Are you working with a direct lender?
If you are in need of financing for a new home purchase or looking to refinance your current mortgage, a simple call today can save you thousands. I work for a direct lender that cuts out the lender costs and higher rates that the middle men charge to make a profit. In a matter of minutes I can provide you savings that you will see each and every month.
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Every loan option available!!
Please contact me at andrew.l.kindya@chase.com
Not the place to drum up business. Go out and do it like the rest of us.
auto loan refinance .... ?
i have a auto loan with chase ...can i refinance with chase again and get a lower interest rate .... as the fed cut the interest rates im thinking they will cut my rates if i refinance ... but i donno if i can refinance at the same place where i took the load i.e chase bank
You can refinance any time and at any lending institution you want. Yes, even your current lender if they are interested. The Fed rate cut is not directly impacted on their refinance rates thought. It's worth a shot, but don't get discouraged if they turn you down. Lenders are being very stingy right now.