44 Total Quotes

Greg McBride Quotes

[In 2002, rates on both types of cards are nearly certain to rise. Even fixed-rate cards are no shelter.] The jockeying around to find a low-rate card is really only half the equation, ... The real thing to do is pay down debt.
Greg McBride
#Cards

The environment has improved dramatically thanks to the Federal Reserve interest rate hikes. Cash investments look pretty good right now.
Greg McBride
#Environment

We'll continue to see some movement in response to anticipation of future Fed rate hikes.
Greg McBride
#Anticipation

If the prospects that your home will appreciate in value are good, paying PMI is not the end of the world,
Greg McBride
#Home

If the prospects that your home will appreciate in value are good, paying PMI is not the end of the world.
Greg McBride
#Home

Conventional wisdom says if you're getting a large refund, it's a bad thing, that you've lent money to the government for free for the past year. If your refund is the only way you can save, who's to say it's a bad idea? It may not be the best way to save, but it's better than nothing at all.
Greg McBride
#Government

In a rising interest rate environment, there's very little justification for holding on to credit card debt. It should almost always be the primary focus of your debt reduction efforts.
Greg McBride
#Debt

That difference of roughly 1.5 percentage points is enough to generate $150 in interest income that you'd otherwise leave on the table with a $10,000 investment.
Greg McBride
#Income

Fee income is the great stabilizer of bank earnings, particularly in unfavorable interest rate environments such as the one we're currently experiencing.
Greg McBride
#Income

If you have to sell in an environment of rising interest rates, you could sell it substantially below what you paid for it.
Greg McBride
#Environment

It's the punitive fees that are escalating so quickly. What some banks are doing now is cutting the cost of the first bounced check so the guy who bounces a check once in a while catches a break.
Greg McBride
#Banks

The range of scores is more intuitive to the consumer. Lenders will have a choice about which scoring methodology to use. Whether they accept the new system will depend on pricing, and how widespread the new scores are accepted.
Greg McBride
#Choice

Loyalty programs are popping up in many other areas of our daily activities, whether through the airlines or hotels, supermarkets or restaurants. It was just a matter of time before financial services joined in.
Greg McBride
#Loyalty

To be able to lock in those kinds of returns — without risk — is attractive to investors at a time when bond investments are lucky to be break even.
Greg McBride
#Risk

That's where the payment pain is going to come for a lot of households.
Greg McBride
#Pain

This has been a good time for CD investors. It's long overdue. Income-dependent investors like retirees are seeing their cash investments finally bear fruit.
Greg McBride
#Income

Banks have embraced consumer banking and really want to attract that business. They're starting to realize there's a fine line between generating fee income and alienating customers.
Greg McBride
#Business

The market is going to slow from the frenetic pace of the past few years. But with fixed mortgage rates remaining below 7 percent, and expected to (remain there) for the balance of 2006, the purchase market will still be very healthy relative to historical levels.
Greg McBride
#Past

What we're seeing here is a growth in the punitive type of fees. The fees are really going to get you if you step outside the bounds set by financial institutions.
Greg McBride
#Growth

In that case, you are easily looking at a 9-month, maybe a year, interest penalty.
Greg McBride
#Interest

With bank fees rising and interest checking accounts remaining at low yields, consumers need to be more conscientious than ever in finding the best options for their money.
Greg McBride
#Interest

Bouncing a check results in a punitive fee from your bank, and the punishment is growing increasingly harsh.
Greg McBride
#Punishment

It sounds like nickel-and-dime stuff, but it adds up to real money.
Greg McBride
#Money

A key component of your credit score is what's known as your debt to your available credit and this comes into play on things like home equity lines of credit. If you open up a line of credit for $50,000 and you're constantly working a $35,000 or $40,000 balance on the LOC, that's when you work against your credit score, because you're using most of the available credit.
Greg McBride
#Debt

Keep that line of credit open for at least the first few years, otherwise you may face a penalty or have to pay closing costs that the lender originally paid when you took out the loan.
Greg McBride
#Credit

Interest rates are coming off of 45-year lows.
Greg McBride
#Interest

For borrowers who are stretched thin, this leaves little equity cushion if the value of the home declines.
Greg McBride
#Home

For consumers, it will create some confusion. Saying you have a credit score of 750, for example, takes on a whole new meaning. It was a good score on the old system but is only fair in the new one.
Greg McBride
#Confusion

I don't think there is any doubt that credit standards are tougher at this point than they were a year ago. The very best rates only go to the very best credit profiles.
Greg McBride
#Doubt

One thing is evident looking at the different bank fees and rates. They maximize revenue and minimize risk, and that's what the institutions are geared toward, that's what they're in business for, like it or not.
Greg McBride
#Risk