October 2012

Record Low Mortgage Rates Encouraging Shorter Refinancing Plans

As Americans are being bombarded with news that now is the time to take advantage of  affordable mortgage rates, surveys and mortgage application records suggest the promotion is working.  While there are fewer first time homebuyers entering the market as the availability of credit has tightened in the last few years, the number of mortgage refinance applications has increased significantly . 

Positive Housing Data for the U.S in September

Economists have been anticipating a turnaround in the U.S housing market as the harshest elements of the country’s real estate crash appears to finally have subsided.  Renewed market demand has resulted in a higher volume of new home construction which many analysts believe is a sign consumer confidence is on the rise and the economy is continuing to recover.  A combination of low interest rates, a gradual climb in home prices, and a sharp decline in foreclosures across many states like California have served as grounds for improved confidence in the U.S housing market.

Homeowner Lawsuit Launched Against Libor Banks

In the end somebody has to pay.  That ringing truth has haunted Americans for years as homeowners have bared a huge burden in paying not only for their homes but the aftermath of the 2008 financial collapse.  Now a group of homeowners out of Alabama has taken some of the country’s largest banks to court in New York over alleged manipulation of adjustable rate mortgages through the Libor scandal.

Overwhelming Student Debt Could Become Bigger Disaster than Mortgage Crisis

As the federal election enters its final weeks there are a lot of hot topic issues being put into hyper-partisan mode on both sides of the campaign.  Critics of Romney say his plans will favor the rich getting richer while critics of Obama say he has failed to reign in the economic disaster during his term.  However moderates on both sides will admit that what Obama was left with from former President George W.

Has America’s Housing Market Really Come Back

A true recovery is not something that happens overnight; in many cases, it takes years to get back to stable levels that were booming before a collapse.  In the case of America’s housing market there have been positive signs in the last few weeks that many citizens and even economists would says points to a housing rebound.  But a few weeks of good news while a great starting point, doesn’t necessarily mean that upward bounce in activity is back for good.

Online Complaints Database Puts Heat to Credit Card Providers

What’s the best way to get through to a customer service department that won’t help you?  Turn to a complaints department and make your case there.  Except now with so many institutions using the internet as a medium to reach as many consumers as possible, the process can be reversed to serve as a forum for taking in complaints.  This is exactly what the U.S Consumer Financial Protection Bureau did in helping Americans find solutions to overcharged credit cards.

Mortgage Rates Increase Due to Lower Unemployment Numbers

The last few weeks have seen record low mortgage rates across the U.S in response to the Federal Reserve’s stimulus plan to buy back over $40 billion in mortgage backed securities and maintaining the low interest rates through mid-2015.  The decision was also made to breathe life into the struggling job market in an effort to put more Americans back to work.  

Car Insurance Surcharge Putting Younger People Off of Driving

With money tougher to budget and a tap into available credit all but running dry, the idea of borrowing to buy a car has been a slowly deteriorating idea for many potential drivers; most surprisingly in the teenage market.  Once upon a time a 16 year old wouldn’t wait past the birthday to get the license and go hit the road for a joyride.  Nowadays though, the market has seen significant change.

IMF Issues Report Warning Policymakers to Wake Up

It seems the slow slump of recovery that has plagued the better part of the developed world will continue for a long time according to a new outlook from the International Monetary Fund (IMF).  The global economic outlook has darkened drastically over the last six months as Europe struggles to get its financial houses in order and a political stalemate in the U.S is keeping policy and action from moving forward on economic growth.

Housing Still Struggles to Find Rebound

The housing market has had its share of good news and bad news in the media lately and there’s a lot of debate riding on whether there is sustainable recovery in housing.  The latest moves by the Federal Reserve have given some positive indicators that a new wave of stimulus into the market is on the way.  But there are also many reasons to remain skeptical that America is not out of the woods yet.