Posts tagged "Quicken Loans"
Quizzle introduces: the Quicken Loans $500 Home Buyer Bonus
You’re thinking….did I read that right? $500? Must be a catch, huh? Not this time.
We’ve all heard the news – it’s a great time to buy a home, right? But now, Quizzle’s mortgage partner, Quicken Loans, wants to give you another reason to buy a home this summer with their $500 Home Buyer Bonus.
Here are the details:
- Purchase a new home and get your mortgage through Quicken Loans.
- Signed purchase agreement and loan application must be received by July 31, 2009.
- Your loan must close by December 31, 2009.
- Receive a check for $500 after your loan closes with Quicken Loans.
- BIGGER BONUS – get an additional $250 (that’s a total of $750 in your pocket!) if you work with an In-House Realty approved real estate agent. In-House Realty can help match you with an experienced real estate agent in your area at no cost! And until July 31, they’ll be paying you!!
Log in to Quizzle to check out YOUR mortgage options and your current home value. Then go to Quicken Loans and fill out this easy form to talk to a Home Loan Expert and apply for your loan.
Don’t forget – first-time home buyers can ALSO get up to an $8,000 tax credit when you buy a home this year. Add all this with some of the lowest home prices and lowest rates in history and it’s a no brainer – there has simply never been a better time to buy a home!
Fed funds rate stays at 0%; Federal Reserve Press Release Translated
All the smarty pants who make up the Federal Reserve met today to once again discuss the state of the economy and determine the action needed by them to aid a struggling American economy. One of the main things they do is determine what the Fed funds rate will be. The Fed funds rate is the rate at which banks lend to each other and is one way the Fed can regulate the supply of money to the US economy.
The following is an official press release from the Fed regarding its decision today, with a translation (for the rest of us) mixed in for all the financial jargon by Bob Walters, Chief Economist for Quicken Loans. Obviously, our version is in bold. Enjoy!
Release Date: April 29, 2009
For immediate release
Now
Information received since the Federal Open Market Committee met in March indicates that the economy has continued to contract, though the pace of contraction appears to be somewhat slower. Household spending has shown signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth, and tight credit. Weak sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories, fixed investment, and staffing. Although the economic outlook has improved modestly since the March meeting, partly reflecting some easing of financial market conditions, economic activity is likely to remain weak for a time. Nonetheless, the Committee continues to anticipate that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will contribute to a gradual resumption of sustainable economic growth in a context of price stability.
The Fed received super secret, on the low-down, information that the economy is contracting. How do they figure this stuff out?!
The Fed also points out that the consumer continued to spend (you can’t hold a shopper down!), but that businesses have cut back significantly.
Lastly, they mention that all the money they are pumping into the economy ishelping and should continue to help as time goes on.
In light of increasing economic slack here and abroad, the Committee expects that inflation will remain subdued. Moreover, the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stability in the longer term.
They say here that because the economy isn’t doing well (they call it “economic slack”), inflation (prices) will stay low.
In these circumstances, the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and anticipates that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. As previously announced, to provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of up to $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt by the end of the year. In addition, the Federal Reserve will buy up to $300 billion of Treasury securities by autumn. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is facilitating the extension of credit to households and businesses and supporting the functioning of financial markets through a range of liquidity programs. The Committee will continue to carefully monitor the size and composition of the Federal Reserve’s balance sheet in light of financial and economic developments.
This is the “kitchen sink” paragraph. They say here that they will do everything in their power to pull the economy out of a tailspin. Stuff like:
- Taking short term rates to 0% (yay! Free money!)
- Spending $1.25 trillion to purchase mortgages to keep today’s mortgage rates low
- Buy $300 billion of Treasury securities (kind of a neat trick to buy debt from yourself…)
Questions? Just holler: blog@Quizzle.com
Homeowner & Mortgage Tax Tips
Yes, death and taxes are often uttered in the same breath, but tax time doesn’t have to be all bad news! As a homeowner, you may be eligible for more tax breaks than you know. We’ve assembled some tips to help you get the most tax perks from homeownership, and keep as much money as the law allows! So watch this video from our friends at Quicken Loans to get the best tax tips for homeowners. Enjoy!
Federal Reserve talks, mortgage rates drop
The 10 brilliant minds who make up the Federal Reserve met yesterday to once again discuss the state of the economy and determine the action needed by them to aid a struggling American economy. The Fed funds rate is one way the Fed uses to regulate the supply of money to the US economy.
No surprise, they decided to keep targeting the Fed funds between 0-.25%. In bigger news, they announced they would spend another $1.2 trillion buying mortgage-backed securities and other debts from Fannie Mae. Immediately following the announcement, mortgage rates dipped about .375 points to under 5% on 30-year fixed loans.
That’s why many of you Quizzlers saw a mortgage rate alert on your homepage - we’re giving you the hook up! And you know who to call to help you out with your mortgage, right? RIGHT?! (hint, hint)
The following is an official press release from the Fed regarding its decision today, and a translation (for the rest of us) of all the financial jargon by Bob Walters, Chief Economist for Quicken Loans:
For immediate release
Now
Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending. Weaker sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories and fixed investment. U.S. exports have slumped as a number of major trading partners have also fallen into recession. Although the near-term economic outlook is weak, the Committee anticipates that policy actions to stabilize financial markets and institutions, together with fiscal and monetary stimulus, will contribute to a gradual resumption of sustainable economic growth.
The Federal Open Market Committee (10 people who decide things for the banking system), also known as the “Fed”, is seeing that the economy is getting worse. Job losses = less spending by consumers. Businesses can’t borrow = less spending by businesses.
Despite all that bad news, the Fed feels that, over time, all the money they have pumped into the economy will start to turn the economy around.
In light of increasing economic slack here and abroad, the Committee expects that inflation will remain subdued. Moreover, the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stability in the longer term.
Given that the economy is essentially a train wreck, and given that people will be spending less, and given that when people spend less companies have to lower prices – the Fed expects that prices (inflation) will remain low. In fact, the Fed is more worried that prices might actually fall (which, believe it or not, is also bad for an economy).
In these circumstances, the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and anticipates that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide greater support to mortgage lending and housing markets, the Committee decided today to increase the size of the Federal Reserve’s balance sheet further by purchasing up to an additional $750 billion of agency mortgage-backed securities, bringing its total purchases of these securities to up to $1.25 trillion this year, and to increase its purchases of agency debt this year by up to $100 billion to a total of up to $200 billion. Moreover, to help improve conditions in private credit markets, the Committee decided to purchase up to $300 billion of longer-term Treasury securities over the next six months. The Federal Reserve has launched the Term Asset-Backed Securities Loan Facility to facilitate the extension of credit to households and small businesses and anticipates that the range of eligible collateral for this facility is likely to be expanded to include other financial assets. The Committee will continue to carefully monitor the size and composition of the Federal Reserve’s balance sheet in light of evolving financial and economic developments.
The Fed will keep short term rates (the rates at which banks borrow from each other) at 0%. That was no surprise.
What was a surprise (and a happy one for those of us at Quizzle & Quicken Loans), was that the Fed decided to go on a shopping spree that would make Donald Trump blush. The Fed decided to:
• Purchase an ADDITIONAL $750 billion of mortgage backed securities (on top of the $500 billion they agreed to buy last November). THIS is the decision that caused mortgage rates to fall significantly.
• Purchase an additional $100 billion of Fannie Mae and Freddie Mac debt. This will allow those companies to buy up more loans – which will also be good for mortgage rates.
• Purchase $300 billion of long term Treasury securities. This will drive down government rates.
o So – in sum, the government just agreed to spend $1.2 TRILLION. They will be putting it on their credit card. (How would you like to get that bill?!)
Quizzle is a movie star!
Click here to view the embedded video.
Quizzle has it’s own video now! A couple of very talented peeps from the Quizzle Marketing team put together this super simple video to describe Quizzle. While I could say a million super things about Quizzle, I think this video really does it in a special way.
We’re really excited that Quizzle is now in movies! Our hope is that more people learn about how useful Quizzle can be to their financial goals. Check out the video above, or see any of our lovingly produced Quicken Loans videos, designed to bring clients all the information they need to make smart financial decisions!!!!
Happy Valentine’s Day from Quizzle!
Happy Valentine’s Day Quizzlers!
In the world of buzz-marketing, Word-of-Mouth-marketing, and TRUST-marketing, a little LOVE goes a long way.
Here are some HONEST, HEART-FELT comments we’ve received lately from our Quizzle ADMIRERS…
- I am IN-LOVE with Quizzle. I FRICKIN LOVE Quizzle!
- Hi, I am so HAPPY I found your site
- I LOVE the Quizzle overview. It shows the Quizzle score and Credit score in an easy to see format
- Very, VERY SWEET features from Quicken! Thank You!
- This is amazing!! It’s so easy and simple to get started. I LOVE Quizzle.
Have a QUIZZLICIOUS day everyone. Remember to TREAT your SWEETHEART well today and don’t forget, it’s always good to SPREAD A LITTLE QUIZZLE LOVE!
Quizzle tip: Download Suze Orman’s “2009 Action Plan” free at Oprah.com!
At Quizzle, we’re all about awesome freebies - especially ones that could help get you on the right financial path! Duh…Quizzle is free and full of freebies, right?
So, here is a very cool freebie from TV Queen Oprah and her favorite finance expert, Suze Orman. From now until Thursday (January 15), you can download Suze’s new book, the “2009 Action Plan,” for free! It’s over 200 pages and goes over everything from credit to real estate to 401k to saving for college. Pretty awesome!
But you do have to hurry - it won’t be available after Thursday. So get over to Oprah.com and download it! Heck, with your free credit report in Quizzle and Suze’s advice, you can totally get yourself on the right financial path in 2009!
New Year Resolution #1: Financial Fitness in 2009
Worried about the economy? Been hoarding all your pennies lately? You’re not alone. Heck, even the US federal budget is looking a little hefty these days and might topple the scales at nearly $1.2 trillion next year.
If you’re not sure where to start, Quizzle has you covered. Take a deep breath and we’ll make this as simple as possible. We’ll assess, act & automate. I’ll be your financial fitness trainer.
1. Assess. Oh hey, Quizzle fits beautifully in here, doesn’t it?
Free credit report comparing all your debts, rainy day funds, budget tool…yes, we need all that. Clear your dining room table; pull out all your bills. Pinpoint all your “problem areas.” Are there just nagging issues there that you’ve been meaning to do something about, just “haven’t had the time”? Time is money – and you’re wasting it.
2. Act. Let’s do something about those issues, yes?
If you have credit card debt, ask yourself why. That list on your credit card statement….was each one of those card swipes necessary? If they were, consider consolidating. Call your current credit card company and tell them you want a lower rate. You’d be surprised what you can get by just asking. If they won’t budge, find a 0% introductory offer somewhere else and start shedding the wallet weight.
Mortgage an issue? Like I’ve said before, you’d be nuts to not consider refinancing right now. If you haven’t talked to a banker yet….well, let’s just say I’m going to make you run an extra lap for that one. Do it. Mortgage rates are at 37-year lows. It does not hurt to check and it could potentially save you hundreds of dollars.
What else? You probably know a thousand ways to save a little cash, don’t you? You just might not do them yet. You might not need to cut coupons (hey, everybody is doing that, too), but how often are you buying lunch on the fly? A little planning ahead in this department can not only save you some dough, but you could enjoy healthier cooking and eating with your family.
Need motivation? Check out more than 25 Ways to Save from the Frugal for Life blog. Easy stuff. These are like the push-ups…we all know how to do a push-up and we know they’ll put us in better shape, but how often are you nose-to-ground? Drop and give me 20!
3) Automate. Ah yes. Back to cruise control, but now we’re traveling at a safe speed.
Here you are at Quizzle, so I know you have the Internet. No hiding. Is your internet/cable/gas/electric/rent/mortgage/insurance payment automatically deducted? No? Well, come on – nearly all service providers allow automatic deductions from your bank account. Sign up! Not only will you never have to suffer a late payment (Ouch! Credit! Ouch!), but your life could become significantly less stressful. No hunting for stamps (ooh! Saved $.42!) and no midnight “Did I pay that?!?” panics.
What about the money you get to keep? Is your paycheck direct deposited? Are you contributing to a retirement fund? What about overdraft protection on your checking account? Ask your bank about linking your checking and savings so you never have to pay an overdraft fee again. It’s your money and no one is going to do this stuff for you. Driving by the gym does not equal pounds lost, right?
As you can see, the key here is automating. Once you begin to automate, you’ll have much less to worry about. And really, with these lovely online inventions like Quizzle or Quicken Online that are totally FREE, you have no excuses. We all know technology is a great thing – start utilizing it for your finances and you’ll be surprised how much easier your life can be. If you follow these easy rules, the only pounds you should gain are a few extra in your wallet.
Quizzle welcomes its 100,000th Quizzler!
The Quizzle team celebrated its 100,000th Quizzler at a team party last night. It was a wild 2008! Quizzle grew from 1,000 Quizzlers at the end of February ‘08 (back when Quizzle launched) to hit 100,000 earlier this week! Quizzle Nestle 100-Grand candy bars were flowing freely this week.
Today, I’d like to take a moment to thank the amazing Quizzle Team, our partners, and YOU for turning this Dan Gilbert vision into a reality. Quizzle accomplished its goal of building a truly-free educational tool to help average people get a better understanding of their home, credit, money and life!
So, I’d like to give a HUGE THANKS to a lot of great people. First, thank you to our IT team (who’s the ”#1 IT place to work” in the nation – 3 years running), our client relations team (who create new ‘raving fans’ every day), our marketing team (who dream-up cool new Quizzle tools and generate nation-wide word-of-mouth buzz – on $zero advertising).
Next, I’d like to thank our elite partners - Quicken Loans (for helping so many people improve their mortgage situation), Experian (for providing credit reports and scores), Cyberhomes (for calculating Quizzlers home values), Onboard Informatics (for providing amazing neighborhood information) and In-House Realty (for matching clients with the best agents in the country).
And finally, a big thanks you to YOU, the people who chose to live in Quizzland and reap the benefits of the free tool! You’ve played a huge role in the direction of Quizzle by sending us well-over 2000 pieces of feedback (all of which we’ve responded personally to). Keep the feedback coming - your ideas will continue to drive the vision and direction of Quizzle in the exciting months to come.
In an upcoming blog post, I’ll let you in on the secrets of some cool new stuff coming to Quizzle in ’09 (but that’s for another day). Today I just wanted to say THANK YOU to the team. Thanks for your DEDICATION to the project, COMMITMENT to the vision, EXECUTION of the details and constant FOCUS on the client experience!
That was one heckuva Quizzlating year! Thank you and Happy Quizzling.
Quizzle is thankful for all of YOU!
Happy (belated) Thanksgiving! It’s no-doubt been a crazy year in the financial industry with a large heap of uncertainty and a bounty of unforeseen changes. But it’s Thanksgiving time - a time to put worries aside, count your blessings and feast on the most important things in life: family, friends, health, job, etc.
Here are a few things that Quizzle is thankful for today:
- YOU! And the other 96,913 people who have decided to settle in the land of Quizzle!
- The unbelievable word-of-mouth from you, Clark Howard (radio), Dave Ramsey (radio), Wall Street Journal, and many others who have helped gather and educate new Quizzlers!
- Those of you who are using Quizzle to harvest your good credit, make smarter decisions, and realize the American Dream of home ownership.
Here are a few things that you early Quizzle settlers have told us you were thankful for this year:
- Your site is really awesome. It has come in handy during these really hard times. Thank you Quizzle.
- Very user friendly and flexible. You will receive consideration for my future mortgage needs.
- This is the kind of service internet users should expect - great information. Now I know where I stand and what steps are needed to upgrade my fico score. Thanks!
- Thanks Quizzle. I will work harder to pay off my credit cards early.
- You provide a great service. I’m glad I heard about you on the Clark Howard radio program.
- This site is super awesome! My new favorite everything site. WOW!
- Everything was right on the money….I Love Quizzle….it’s the Best!
- I heard about you on the Dave Ramsey show…Thank you so much…I am trying to buy a home and this was a very helpful site.
- Great website! Fun to use too. Thanks!
- This is a very cool tool! I am very much looking forward to using it going forward to assess my standing and purchase a new home in the next year and a half. Thanks.
- Quizzle is ridiculously amazing!
- This was so easy and FRIENDLY. I have put off looking at my “bad credit report” for so long. You helped me get started and encouraged me to raise my score. THANK YOU!
We are thankful to each of you who’ve provided feedback this year! We use these daily “conversations” with you to make important changes and improve you Quizzle experience - please keep the feedback coming!
Enjoy the holiday season and remember to be smart and stay in-the-know with Quizzle!
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