Stay updated on financial news, market trends, and economic changes that affect your money. From interest rate hikes to government policy shifts, we break down what’s happening now—and what it means for your finances.
Consumer delinquencies in nearly all loan categories declined in the third quarter of 2009, according to a report released today by the American Bankers Association (ABA). This is the first time since 2007 that so many loan categories experienced a decline in delinquencies, which the ABA defines as a late payment that is 30 or … Read more
Pending home sales fell sharply in November but remained “comfortably” above the level of activity from a year ago, the National Association of Realtors reported today. The index used to measure contracts signed in November fell 16% to 96.0 from an upwardly revised 114.3 in October, but is 15.5% higher than November 2008 when it … Read more
The Federal Trade Commission (FTC) announced today that they are suing the world’s leading computer chip maker Intel Corporation, saying that the company “has illegally used its dominant market position for a decade to stifle competition and strengthen its monopoly.” In it’s complaint, the FTC alleges that “Intel has waged a systematic campaign to shut … Read more
The Federal Trade Commission has issued a warning to consumers to be skeptical of anyone trying to sell test kits, inspections, or quick fixes for problems caused by imported drywall that has turned out to be contaminated. Earlier this year, it was determined that some U.S. homes built between 2003 and 2008 contain imported drywall, … Read more
New claims for jobless benefits rose by 17,000 to a seasonally-adjusted 474,000 for the week ending December 5, the Department of Labor reported today. The unexpected rise in initial jobless claims comes after five straight weeks of declines. The four-week moving average was 473,750, down 7,750 from the previous week’s revised average of 481,500. The … Read more
Bank of America announced last week that it would repay the entire $45 billion received from the Troubled Asset Relief Program (TARP). Paying back the funds would allow the North Carolina-based bank to break free of the federal government’s restrictions and save approximately $3.6 billion annually in interest payments to the government. BofA has already … Read more
I received an automated call a couple of months ago. After listening to the message from the other end, I thought it sounded strangely like my credit card company was calling me to give me a better interest rate – but when has that ever happened? The recording said that they were calling from “card … Read more
Existing home sales in October surged 10.1% as the first-time home buyer credit continues to drive sales, the National Association of Realtors (NAR) reported today. Existing homes sales last month were at a seasonally-adjusted annual rate of 6.10 million units, which includes single-family homes, townhomes, condos, and co-ops. The October pace of sales activity was … Read more
Consumers have until December 7, 2009 to make a comment on the recently issued proposal to amend the “Free Credit Report Rule” (formally the Free Annual File Disclosures Rule), the The Federal Trade Commission (FTC) announced today. The FTC posted the proposed rule on their website on October 7, 2009 and stated that public comments … Read more
Delinquencies for loans on one to four-unit homes rose to a seasonally-adjusted rate of 9.64% of all outstanding mortgages in the U.S. for the third quarter, the Mortgage Bankers Association (MBA) reported today. Non-adjusted, the delinquency rate rose from 8.86% in the second quarter to 9.94% in the third quarter. The mortgage delinquency rate is … Read more
