What the Fed's Rate Cut Could Mean for Homebuyers
11/26/2024
Mortgage rates are a key factor for many homebuyers. Even a small change can have a big impact. For example, on a $450,000 mortgage, a shift from 6.5% to 7.0% can raise monthly payments by $150. After years of low rates, mortgage rates increased in 2022 and 2023. But with the Federal Reserve's recent rate cuts, there's new hope for lower rates ahead.
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What the Fed's Rate Cut Means for Home Equity Lines of Credit (HELOC)
11/26/2024
With the Fed's recent rate cuts, it's a great time to consider a Home Equity Line of Credit (HELOC). Lower interest rates can make borrowing against your home's equity more affordable. Whether you're looking to fund a home renovation, consolidate debt or cover other expenses, a HELOC offers flexibility and lower monthly payments.
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Can You Spot a Phishing Scam?
10/02/2024
Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. And in this time of expanded use of online and mobile banking, the problem is only growing worse. In fact, the Federal Trade Commission's report on fraud estimates that American consumers lost a staggering $10 billion to phishing scams and other fraud in 2023, an increase of 13.6% over 2022.
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Mortgage Do's and Don'ts - Going Beyond the Application & Approval Process
05/03/2024
At Solvay Bank, we are committed to helping you manage what could be one of the largest financial decisions of your life ? buying a house! This practical Mortgage Do's and Don'ts list can help you to prepare for what happens beyond the application and approval process.
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April is Community Banking Month!
04/29/2024
April is Community Bank Month! At Solvay Bank, we're proud to serve our community for over 107 years and are deeply committed to investing back into our local neighborhoods. Thank you for allowing us to be your trusted financial partner! Learn more about the Community Bank difference. Member FDIC. Equal Housing Lender.
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