All Entries Tagged With: "Finance"
Some Americans Choose Cheap Car Insurance to Save Money
Due to economic recession that resulted in bad credit, deep debt, and poor market, most Americans are in quest to find any possible way to save their hard earned money. American consumers found that through cheap car insurance consumers will get a cheap but quality auto insurance to protect themselves against losses as a result [...]
Consumer Credit in U.S. Dropped $1.3 Billion in June
U.S. consumer credit declined in June for the fifth consecutive months. The U.S. credit decreased $1.3 billion, less than economic expert projected, following a revised $5.3 billion drop in May, the Federal Reserve announced Friday in Washington. The revised $5.3 billion drop in May drop was smaller compared to the initial $9.2 billion decrease. Credit [...]
Refinance Mortgage Rate Still at Record Low
Home loan refinancing dropped again this week. As of now, the 30-year fixed mortgage is 4.5344%. Additionally, the refinance mortgage rates have descend only 3 basis points and over the past 4 weeks the rate has dropped by at least 17 basis points. Bank of America maintained their current refinance rates at 4.906%. BofA lowered [...]
MasterCard and Discover Offers Cash Rebate for Daily Spending
A group of independent researcher coordinated an in-depth analysis and survey and found that people who choose to use cash-back credit cards save allot of money compare to people use cash. However, not all rewards and cash-back cards have the same features. There are some credit card companies who offer airline miles and some offer [...]
U.S. Unemployment rate Stable at 9.5% in July
The U.S. unemployment rate held firm at 9.5% as various companies and employers remained nervous to hire new staff and the U.S. economy shed approximately 131,000 jobs. Additionally, the state and local governments laid off countless workers due to major budget deficit. Last Friday the U.S. Labor Department said that the U.S. economy obtained 71,000 [...]
U.S. Initial Unemployment Claims Surge 19,000 to 479,000
Last Thursday the U.S Labor Department reported that the initial unemployment claims surged above expected by 19,000 last week, which is the highest level in four months. According to the weekly report the state unemployment benefits initial claims totaled a seasonally adjusted 479,000 in the week ended July 31, which is the highest recorded claims [...]
Social Security Trust Fund to be Exhausted by 2037
Social Security Administration recently announced their year end report of the Social Security trust funds status. The report claimed that the Social Security trust funds are expected to be exhausted in 2037, the same date as in last year’s report. The Social Security report noted that achieving the health care savings in order to expand [...]
NY Fed May Tell Banks to Buy Back Bad Mortgages
The Federal Reserve Bank of New York may tell some banks to repurchase past-due home loans that back some of the securities it holds. This aid action would boost the value of the institution’s combined Maiden Lane portfolio which an average $67.4 billion in assets in the week ending July 28, according to Reuters reported. [...]
Home Loan Purchase Applications Rise in Third Consecutive Week
The Mortgage Bankers Association said last Wednesday that the demand for mortgage applications in purchasing homes increased last week for a third consecutive week. The Mortgage Bankers Association claimed that the volume of applications that was submitted for purchase mortgages up by at least 1.5 percent after the previous week’s 2 percent growth. And this [...]
Mortgage Foreclosures Reduce Home Values by 27%
Massachusetts Institute of Technology and Harvard University economic experts said that foreclosed homes had a reduced home sale price by at least 27%. Additionally, near by houses, living within 250 feet of the foreclosed home, might also lose value on their home sale prices with decreases in home sale prices of 1%. American Economic Review [...]
