According to some analysts, mortgage rates again “wandered about aimlessly” last week. It is becoming more apparent that the current economic recovery will be a very slow and muted affair, at least for the time being. With manufacturing issues appearing to cool, consumers remaining on the sidelines, and, in last week’s PPI and CPI, inflationary [...]
Last month saw rates spiking higher as optimism about the economy began to grow. June started with news that the economy had only lost 345,000 jobs in May. Other data, including some housing data and the ISM indices, began to show that the rate of economic hemorrhaging was finally slowing. A few inflation indicators also [...]
Mortgage rates continue to hit record lows as the economic activity slows and the federal government continues to seek ways to stimulate housing market activity. 2.6 million jobs were shed in 2008. This represents the worst year for job losses since the US worked through demobilizing after World War II. Nearly every other economic indicator [...]
In December, major credit card reform was finally announced by federal regulators. Consumer advocates have been working for years to get many of the changes in place. One of the biggest new regulations applies to interest rates on existing balances. Previous rules allowed companies to change borrowers’ interest rates on existing balances with very few [...]
May began with mortgage rates hovering in record low territory. Rates for conforming 30-year, fixed-rate mortgages appeared to be firmly entrenched below five percent. With massive government intervention and a global recession, it appeared to many that rates would remain below 5% for at least a few months. However, as talk of a potential depression [...]
Signs of economic stress seem to be everywhere – high unemployment, entire industries under fire, and governments attempting to stem the carnage. While most media coverage sensationalizes the failures of major corporations, the truth is that in every corner of America, independent, local businesses are struggling to survive like never before. You may not ever [...]
In today’s housing market, if you ask most people what are the most important steps for selling a home, most will respond with a list of items regarding the house itself. The list may include fresh coats of paint, repairing any broken or damaged features of the home, and removing clutter from rooms and closets. [...]
While pundits and talking heads debate the state of the real estate market and try to affix blame for the struggles the industry has experienced, savvy real estate investors and wise vacation-home buyers are snatching up bargains around the country. The real estate market may not have hit bottom yet, but timing the absolute bottom [...]
Have you noticed anything different about your credit card lately? Twenty-one percent of consumers have realized that their interest rate has increased, according to a recent survey by Synergistics Research Corp. Another seventeen percent saw an increase in their minimum monthly balance, while almost ten percent noticed that their credit limit had decreased. Unfortunately, many [...]
Two major announcements over the last few weeks have helped push mortgage rates to new record lows. The Federal Reserve announced that it would continue to purchase mortgage-backed debt and securities. At the current rate of purchases, the Fed may buy nearly every conforming mortgage originated this year. Additionally, the government has begun to provide [...]
While the media heaped scorn on Bernard Madoff after his arrest for what may turn out to be the biggest Ponzi scheme in history, thousands of people fall victim to financial fraud every year. In many cases, victims are unwittingly misled by the same people – their friends. Peer-driven financial scams have been around for [...]
From challenges in the labor market to the shrinking of our portfolios, signs of economic stress are all around us. For many people the stress is all too real, stemming from a job loss or other financial hardship. However, for the majority of Americans who are not in financial straits, the psychological stress from these [...]
As the economy began to slide last year, many people focused on making New Year’s resolutions regarding their personal finances. Sadly, according to a number of studies, a whooping eighty-five percent or more of us fail to keep any of our New Year’s resolutions. Even more unsettling is that by the time February begins, fifty [...]
It seems that every other week, mortgage rates hit a new historic low. Events of the last few months have driven mortgage rates to levels that many experts thought were lower than mortgages would ever go. While the struggling economy has certainly contributed to lower rates, recent government programs and rumors of more programs to [...]
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One of the most exciting adventures you will ever encounter is purchasing a home. If you’re a first time buyer or an experienced investor we will make the process quick and easy. Your home loan professional will be able to discuss your qualifications with you on an individual basis. To get started immediately click here [...]
The FHA now offers a variety of loan programs to a large population and FHA mortgages have fixed interest rates. Many find these home loans attractive because they require very small down payments, non occupants can assist income, and because the FHA regulates the closing costs. These loans also have qualifications that are easier to [...]
The differences in the type of interest you pay on your home loan will impact the price of your monthly payments. With simple interest, interest is calculated once and is fixed. This can create savings for the home owner because with compound interest, the interest amount is added to the principle continually and then begins [...]
On CNNMoney.com a writer from the associated press wrote an article today on banking and its effect on the shareholders. The beginning of the story is below
Banks cutting dividends, diluting shares to raise badly needed capital
NEW YORK (Associated Press) – America’s banks and brokerages are scrambling to raise badly needed cash, but it may be [...]
Alexandra Twin a Senior writer for CNNMoney.com wrote a very realistic article today about the our market indicators and where they are heading. Here is the beginning of the story below.
An economic rebound may be far in the distance, but stocks usually stabilize first. Here’s why the market should wobble in place in the second [...]
Deb Riechmann of the Associated Press wrote an interesting article today about how President Bush is working on a way to show the people how we can drill oil with minimal amount of damage to the Wildlife. The beginning of the article is below
WASHINGTON – President Bush is accusing Democrats in Congress of blocking his [...]
Vikas Bajaj from the New York Times put a great article together about our realestate market and what is really going on. Here is a short piece below…
America’s home-buying season, when for-sale signs sprout like dandelions, is shaping up to be even worse than expected this year, with prices falling, sales slowing and few signs [...]
Martin Crutsinger an AP economics writer wrote a great article today on US manufacturers and the struggle that our nation has with it. A quick excerpt is below…
US manufacturers win victory that clears the way for penalty tariffs against Chinese pipe
WASHINGTON (AP) — U.S. steel pipe manufacturers, who have been battling a surge in imports [...]
Elizabeth Stanton at Bloomberg wrote an article today speaking about the problems in our stock market by oil increases. The story goes as follows…
June 20 (Bloomberg) — U.S. stocks slid to a three-month low, led by consumer and technology companies, as threats of increased violence in the Middle East pushed oil prices higher and analysts [...]
Ari Levy at Bloomberg wrote an interesting article today about Washington Mutual and its subprime market trouble. The beginning of the story goes as follows
June 20 (Bloomberg) — Washington Mutual Inc. should fire Chief Executive Officer Kerry Killinger and replace its board after an 85 percent stock-price plunge in the past year, said David Dreman, [...]
Thursday June 19, 11:01 am ET
Ap Business Writer
Leading economic indicators are barely higher as economy grows at a crawl
NEW YORK (AP) — A private business group says its index of leading economic indicators inched higher for the second month in another sign that higher fuel and food prices, tighter credit and a depressed [...]
By H. JOSEF HEBERT, Associated Press Writer
WASHINGTON – With gasoline topping $4 a gallon, President Bush urged Congress on Wednesday to lift its long-standing ban on offshore oil and gas drilling, saying the United States needs to increase its energy production. Democrats quickly rejected the idea.
“There is no excuse for delay,” the president said in [...]
Tuesday June 17, 11:18 am ET
By Jeannine Aversa, AP Economics Writer
Wholesale prices post biggest gain in 6 months, propelled by energy and food costs
WASHINGTON (AP) — Wholesale prices bolted ahead in May at the fastest pace in six months as energy and food costs marched higher.
The Labor Department reported Tuesday that its Producer Price Index, [...]
Tuesday June 17, 12:06 pm ET
By Madlen Read, AP Business Writer
Stocks decline as economic readings point to effects of rising energy prices on economy
NEW YORK (AP) — Stocks declined Tuesday as investors reviewed worrisome data that underscored the drag of higher energy prices on the economy.
In volatile trading, crude oil at times rose above $134 [...]
Monday June 16, 2:02 pm ET
WASHINGTON–(BUSINESS WIRE)–Builder confidence in the market for newly built single-family homes edged down in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index slipped to 18 this month, returning to the record low that was posted in December of 2007 (the series began [...]
Monday June 16, 9:43 am ET
By Dan Wilchins
NEW YORK (Reuters) – Investment bank Lehman Brothers Holdings Inc (NYSE:LEH – News) posted a quarterly loss of $2.8 billion on Monday, matching its forecast, after recording massive trading and hedging losses.
With the results coming in as expected, analysts focused on the potential for future write-downs at the [...]
Friday June 13, 6:00 pm ET
By Tim Paradis, AP Business Writer
Stocks rise sharply as data point to stable rates; inflation rises but doesn’t alarm investors
NEW YORK (AP) — Wall Street ended a turbulent week with a sharp gain Friday after government readings on inflation and a drop in oil prices eased worries about the effect [...]
Friday June 13, 1:49 pm ET
By Alan Zibel, AP Business Writer
Housing crisis worsens as number of US homes facing foreclosure in May up 48 percent
WASHINGTON (AP) — Soaring foreclosures are continuing to raise questions about the mortgage industry’s claims that they are making a dent in the housing crisis.
Foreclosure filings last month were up nearly [...]
Investor’s Business Daily
Thursday June 5, 7:00 pm ET
Joe Gose
Housing looks apt to get darker before a dawn, shadowed by unseen inventory.
Bank-owned homes typically don’t show up in headline figures, nor do ailing borrowers who are still in their homes or owners who want to sell but are waiting in hopes the market will improve. Yet [...]
Wednesday June 4, 3:23 pm ET
By Jeannine Aversa, AP Economics Writer
Bernanke doesn’t see repeat of `70s style spiraling prices, wages
WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke said Wednesday he does not believe the United States will experience the out-of-control prices seen with 1970s oil shocks.
His assessment came in a speech delivered [...]
Tuesday June 3, 7:44 pm ET
By Jeannine Aversa, AP Economics Writer
Inflation creeps up Bernanke’s list of worries, suggesting Fed’s rate cuts done for now
WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke has moved inflation up on his list of worries, suggesting more pointedly than ever that the time for cutting interest rates is [...]
Tuesday June 3, 5:42 pm ET
By Joe Bel Bruno, AP Business Writer
Wall Street grows more fearful that banks and brokerages still suffering from credit crisis
NEW YORK (AP) — Wall Street fell sharply for a second straight day Tuesday as investors grew more worried that the financial sector is still suffering badly from the [...]
The reality of a real-estate industry in the tank, job losses, foreclosed homes and empty office space is a far cry from the glitz and fantasy of popular TV shows set in the California county.
By Christopher Palmeri, BusinessWeek
The sun still sets magnificently on the cliffs of Laguna Beach. The Angels are slugging away on [...]
Jobless Claims Drop in Latest Week
By RUTH MANTELL and BRIAN BLACKSTONE
May 22, 2008 2:01 p.m.
WASHINGTON — U.S. home prices fell a seasonally adjusted 1.7% in the first three months of 2008 — the largest quarterly price decline on record, the Office of Federal Housing Enterprise Oversight reported Thursday.
Prices fell in 43 states, according to the [...]
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