Last Wednesday, the Federal Reserve stated that it would keep short-term interest rates near 0% although the central bank announced that the economy was recovering from its crisis.
Popularity: 2% [?]
Archive for September, 2009
Mortgage Rates Below 5% – Time To Buy?
On September - 28 - 2009
It has only been a few days that the mortgage rates slipped below 5% and mortgage loan applications have already jumped up by 13% since last week. The average rate is 4.9% but some rates can be as low as 4.65% for a fixed, 30-year mortgage.
Popularity: 2% [?]
No Recovery for America!
On September - 27 - 2009
A few months ago I wrote a post about the economic prediction of Gerald Celente who said that the newly elected President Obama at the time can not do anything to avoid the brewing revolution in America. He forecasted food riot, tax riot and all other dark things like that, with the deeper and longer depression that has ever happened in history. He forecasts that there is no recovery. There will be a time when Americans do not go shopping during the holiday season as they would be thankful enough to even have food on the table.
Popularity: 2% [?]
CCCS Helped One Family Get Out of $100,000 Debt
On September - 25 - 2009
Millions of Americans now are stressing over increasing pile of bills and debts on their desk. One service that actually works to help you soothe your tension and frustration is help from the consumer credit counseling service.
Popularity: 3% [?]
Walls Closing in: Lack of Spending Chokes the US Economy
On September - 23 - 2009
With the economy still crumbling, the consumer credit has dropped enormously by $21.5 billion only in one month from June to July 2009. This is according to the the figures that were released by the Federal Reserve earlier this week. In July the US consumer credit totaled $2.49 trillion in June and decreased by 10% down to $2.47 trillion in July. This is the lowest consumer credit ever since 2006.
Popularity: 2% [?]
Holders of US Debt
On September - 23 - 2009
If you are wondering who holds the most US debt, here is a list compiled by CNBC.
15: Luxembourg – $104.2 Billion
14: Depository Institutions – $107.3 Billion (commercial banks, savings banks, credit unions)
13: Russia – $119.9 Billion
12: Insurance Companies – 126.4 Billion
11: Brazil – 139.8 Billion
10: Caribbean Banking Centers – 189.7 Billion
9: Oil Exporters – $191 Billion
8: United Kingdom – $214 Billion
7: Pension Funds – $465.4 Billion
6: State and local governments – $522.7 Billion
5: Other Investors – $629.7 Billion (“other” refers to individuals, government sponsored enterprises, brokers and dealers, bank personal trusts, estates, corporate and non-corporate businesses)
4: Japan – $711.8 Billion
3: China – $776.4 Billion
2: Mutual Funds – $769.1 Billion
1: Federal Reserve and Intergovernmental Holdings – 4.785 Trillion
Popularity: 5% [?]
FHA’s Dumb Questions Proposed For Mortgage Shoppers To Ask Lenders
On September - 20 - 2009
With the 30-year mortgage rates sliding back to 5.04% last week, it is hoped that the number of mortgage application will once again increase despite the last week’s fall of application volume by 8.6%.
The Federal Reserve recently proposed to amend the Truth in Lending Acts and one of the interesting proposal is the one proposing to expand the disclosures required at mortgage application. It is expected that the mortgage borrowers will be able to shop for more information first before committing themselves with a loan.
Popularity: 2% [?]
Buying Some Peace of Mind For Your Future
On September - 17 - 2009
As I was trying to find out about Texas senior care in the internet, I read some sad facts about how a couple in Dallas had to terminate their long-term care insurance because their premiums has been significantly increased from $223 to $382 per month. Although the long-term care insurance industry is still pretty young, a lot of people are buying their peace of mind with their insurance, hoping they will be able to get a place in a Texas retirement home.
Popularity: 3% [?]
Credit Cards Aimed To Manage Your Debt
On September - 16 - 2009
Finally after so many years of encouraging and tricking consumers to load up on debt, the credit card industry is now offering credit cards that actually help consumers to manage their debt. JP Morgan’s new credit card, Blueprint, features help for consumers to manage their debt. Consumers are able to track their own spending in order to pay in full of what they owe each month. They also give online help and tools for consumers to manage their own repayment plan.
Popularity: 2% [?]
Can Loan Modification Programs Make Things Worse?
On September - 15 - 2009
Although many have experienced a relief in their monthly payments after their mortgage loan was modified, some say that it has made things even worse for them. They end up having larger debt on their homes and pay a higher monthly payment. Apparently, mortgage lenders roll late fees, back taxes and other kinds of taxes into the principal to a point that for some it is now even impossible to make payment, not just ‘difficult’. This is the one reason, apparently, that many modified mortgage loans are sliding back into default.
Popularity: 2% [?]
