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Bank rates (Detroit Free Press)

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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 ...


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Mortgage approvals at record low The number of mortgages approved for people buying a home fell to a new low for the second successive month in April, the Bank of England said. Just 58,000 loans were approved in April, the lowest since the Bank began collecting data 15 years ago.


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