Mortgage Rates Tumble Even as Credit Downgrade Takes Hold

Mortgages

Mortgage Rates Tumble Even as Credit Downgrade Takes Hold

Mortgage Rates Tumble Even as Credit Downgrade Takes Hold

The national average mortgage rate dropped to the lowest level seen so far this year despite experts’ fears that the credit downgrade would lead to a sharp increase in rates for all consumer loans, according to a report from the Washington Post. Freddie Mac, the government-controlled mortgage backing giant, said that the average rate for… Read More

Man Jailed For Not Paying Fishing Fine

Personal Finance

Man Jailed For Not Paying Fishing Fine

Man Jailed For Not Paying Fishing Fine

Kyle Dewitt spent three days in jail because he was too poor to pay a fishing fine. Last spring, Dewitt was ticketed and fined $215 for fishing smallmouth bass out of season (Dewitt disputes the charge). But Dewitt, 19 years old with a fiancée and a nine-month-old son, lost his job at a grocery store… Read More

Financial News Roundup: U.S. Companies Downgraded, Back-To-School Bargains

Students

Financial News Roundup: U.S. Companies Downgraded, Back-To-School Bargains

Financial News Roundup: U.S. Companies Downgraded, Back-To-School Bargains

Today’s top news headlines feature details regarding the unemployment crisis and reasons many U.S. companies also saw their credit rating decline. Plus, parents can save money on back-to-school items this fall by bargain shopping. Job Crisis Details Emerge CNN Money Today’s unemployment crisis remains one of the most pressing issues facing the country, and CNN… Read More

What Does America’s Credit Downgrade Mean for You?

Personal Finance

What Does America’s Credit Downgrade Mean for You?

What Does America’s Credit Downgrade Mean for You?

There’s lots of bad news surrounding the announcement by Standard & Poor’s to downgrade the credit rating of the U.S. government. The decision will make it more expensive for the country to borrow money, adding to the national debt, and the announcement has thrown the stock market into a serious tizzy. But here’s a surprise:… Read More

CFPB Launches Another New Mortgage Form

Mortgages

CFPB Launches Another New Mortgage Form

CFPB Launches Another New Mortgage Form

The new forms from the new federal Consumer Financial Protection Bureau, put together using ideas from two previous types of paperwork, are now available for review on the agency’s website. Part of the Dodd-Frank Wall Street Reform and Consumer Protection Act mandates that the CFPB combine the two-page Truth In Lending forms with the three-page… Read More

Senators: Jumbo Mortgages Still Need Taxpayers’ Help

Mortgages

Senators: Jumbo Mortgages Still Need Taxpayers’ Help

Senators: Jumbo Mortgages Still Need Taxpayers’ Help

A trio of powerful senators introduced a bill this week that would extend a major government subsidy for the ailing real estate market. If passed, the law would allow taxpayer-owned mortgage companies to continue buying jumbo mortgages, worth up to $729,750. If the bill, or one like it, fails to pass before the end of… Read More

Debt Deal Costly For Some Student Borrowers

Students

Debt Deal Costly For Some Student Borrowers

Debt Deal Costly For Some Student Borrowers

Students seeking new federal loans to afford college or graduate school may find the market somewhat less generous starting next summer. Congress’ last minute debt compromise eliminates close to $1 trillion in spending, including the government’s subsidized interest payments on Stafford loans to graduate and professional students.

Even Doonesbury Wants Warren Senate Run

Personal Finance

Even Doonesbury Wants Warren Senate Run

Even Doonesbury Wants Warren Senate Run

Ever since President Obama skipped over the chance to appoint Elizabeth Warren the first leader of the consumer watchdog agency she essentially created from scratch, there’s been a lot of talk about whether Warren would return home to Massachusetts and run for Senate. Now even a comic strip is getting in on the odds-making. Doonesbury,… Read More

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