Local households, specifically those who are in the low-income bracket, are anticipated to face a growing financial burden, as mortgage rates rise in line with rising market interest rates.

Some banks are considering that they may charge higher interest on those who are having lower credit ratings. They have decided to charge 0.1- to 0.2-percentage-point additional interest on those having the lowest credit ratings, and that will be balanced by rate cuts for prime customers.

There has been a rise in yields on three-month certificate of deposits (CDs), which is the benchmark for banks lending rates. On Friday, yields on three-month CDs rose by 0.02 percentage points to 2.47 percent . They have also jumped by 0.03 percentage points Thursday.

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Reducing bank account balances and heavy tuition fee payments are forcing the students at the University of Windsor to approach their financial assistance office in droves.

Aase Houser, who is the director of student awards and financial aid at the U of W has said that the number of applicants for student loans has increased 30% as compared to last year. They expect to be very busy this year having lots of competition for very little money. He said that it will be a bit of a feeding frenzy.

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The businesses have been reminded by The U.S. Small Business Administration (SBA) that Aug. 31 is the filing deadline for federal economic injury disaster loans in counties that has been declared as disaster areas across Indiana.

The SBA’s disaster declaration includes thirty-two Indiana counties, including Randolph County. Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to farm-related small business  and

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