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Finance, Economy & Government Issues Archive


Fed Makes Emergency 0.75% Rate Cut

RISMEDIA, Jan. 23, 2008-(NYTimes.com)-The Federal Reserve, responding to an international stock sell-off and fears about a possible United States recession, cut its benchmark interest rate by three-quarters of a percentage point on Tuesday. ...


It’s Time to Decide: Is Professional Tax Help Warranted?

RISMEDIA, Jan. 23, 2008-(MCT)-Soon, W2 tax forms will hit your mailboxes. Banks will mail your interest earnings statements. Churches and charities might send you records of your donations this past year. ...


Your Money: Should I Tap My 401(k) to Pay Off Debts?

RISMEDIA, Jan. 21, 2008-(MCT)- Q: My wages haven't really kept up to increases in my expenses in the last year. I've racked up a large amount of credit card debt and I'm thinking about taking a loan against my 401(k) to pay off my debts. Will I regret this later? ...


Want Early Tax Refund? Take a Number

RISMEDIA, Jan. 21, 2008-(MCT)-Income tax season won't start on time this year. If you're not looking forward to facing the Tax Man, that's not a problem. But if you want that refund right away, it could be. ...


ARM’s Lose Their Luster

RISMEDIA, Jan. 18, 2008-Is the hey-day of adjustable-rate mortgages a thing of the past? Freddie Mac released the results of its 24th Annual Adjustable-Rate Mortgage (ARM) Survey of prime loans, which found: ...


Can They Break the Deadlock? NAHB and The Financial Services Roundtable Join Forces

RISMEDIA, Jan. 18, 2008-The National Association of Home Builders (NAHB) and Housing Policy Council (HPC) of The Financial Services Roundtable joined forces today in taking a leadership role to break the deadlock in Congress over regulatory oversight reform of the housing government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. ...


Ugliest Mortgage Number in 20 Years Reported

RISMEDIA, Jan. 18, 2008-Evidence of a weaker economy pushed mortgage rates to the lowest point since July 2005, with the average conforming 30-year fixed mortgage rate now 5.75%. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.36 discount and origination ...


Eight Measures to Boost the Economy

(MCT)-Any successful stimulus package must replace the lost income of displaced workers and boost demand for goods and services offered by businesses. Here's a look at some ideas under consideration. ...


Homeowners Continue to Refi: Leads Jump This Week

RISMEDIA, Jan. 17, 2008-Looks like refinancing continues to be a popular option for homeowners. Refinance loans topped mortgage application news this week with The Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 11, 2008. Let's look at the numbers: ...


The Fight for Good Credit

RISMEDIA, Jan. 17, 2008-(MCT)-Remember trying to refinance during the real estate boom? You were lucky if your broker or lender returned your calls within two weeks. ...


MBA: Slow Economic Growth + Lower Levels of Mortgage Originations = 2008

RISMEDIA, Jan. 16, 2008-The Mortgage Bankers Association (MBA) projects that economic growth will continue to slow through the first half of 2008, but expects economic activity will begin to pick up in the second half of 2008 and resume trend-like growth toward the end of 2009. Total mortgage production will ...


Chase Promotes Terry Lindsey for Fast-Growing Correspondent Business

RISMEDIA, Jan. 16, 2008-Chase announced the promotion of Terry Lindsey to national sales manager of Correspondent Sales among key appointments that reflect the business's continuing growth. ...


30-Year Fixed-Rate Mortgage Plummets

RISMEDIA, Jan. 11, 2008-Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.87% with an average 0.4 point for the week ending January 10, 2008, down from last week when it averaged 6.07% as well. Last year at this ...


Fannie Mae to Reimburse for Referrals to HOPE Hotline

RISMEDIA, Jan. 9, 2008-As part of its ongoing commitment to support borrowers facing potential foreclosure, Fannie Mae will reimburse its servicing partners when they refer homeowners who are behind in their mortgage payments to the HOPE Hotline for counseling. ...


Chase Expands Mortgage Office in Coral Gables

RISMEDIA, Jan. 8, 2008-Chase has announced the hiring of new area and sales managers for the expansion of its Coral Gables mortgage office. The office, which opened five years ago at 225 Alhambra Circle, is expanding to meet the growing needs of the area. ...