michigan home equity loan
Bank rates
Major Michigan financial institutions were surveyed last week to determine the interest rates they charge for loans, and APYs they pay for savings deposits. Rates were quoted as of Friday. APYs on deposit accounts are based on the minimum amount to open the account. CD yields are fixed-interest rate offers only. New car loan rates apply to a $20,000 loan for 5 years. Home equity line and loan rates apply to a $50,000 loan with an 80% Loan-to-Value ratio. .
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Families feel bite of inflation
After years of mellow inflation, prices for everything from seafood to medical care and airfares have been rising at a faster clip than consumers have seen in 15 years.
And how people are feeling it.
In a monthly ritual so routine most consumers don't notice, the federal government this week released the latest data on consumer prices. The Labor Department's Consumer Price Index showed that overall prices across the country rose 0.2 percent in June from the month before.
By itself, the monthly increase was hardly a checkbook-buster. But compared with a year ago in June, overall inflation in the United States was 4.3 percent higher _ an escalating pace unseen since 1991.
Nancy and Richard Chance, a hardworking couple living in Elk Grove, Calif., don't need the federal government to tell them things are getting tighter.