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  • New Credit Card Practice Under Scrutiny
    Some universities have been trying to cut costs by issuing university business credit cards to their employees. The practice can be less expensive than other means of trying to pay school bills. However, Arizona universities have run into a stumbling block in their effort to promote cost efficiency: financial abuse. The Arizona Republic newspaper has found [...]
    [July 31st, 2007]
  • New Credit Card Scam
    Internet experts say that credit card thieves are employing a new tactic: making donations to charity using pilfered charge cards. The strategy may enable thieves to steal more money than was possible in the past. The virus protection company Symantec reports that making a small charitable donation is used to test the card in order to [...]
    [July 31st, 2007]
  • Consumer Borrowing Rises Dramatically
    The Federal Reserve is reporting that consumer borrowing skyrocketed in May—the greatest increase in credit card debt in 6 months. Consumer credit jumped 6.4%, which was a monumental increase over the 1.1% jump in April. In fact, the increase in May was just about twice the amount that financial observers were expecting. The hike can be [...]
    [July 31st, 2007]
  • Credit Card Companies Offer New Insight Into Consumer Spending
    The credit industry has uncovered some surprising news about consumer spending. Apparently, young people are going to become bigger spenders than their Baby Boomer parents. A study by VISA USA found that the Echo Boomer generation will be leading the growth in many retail categories. In fact, customers between the ages of 18 and 28 will [...]
    [July 25th, 2007]
  • Reasons for Bankruptcy are Varied
    A new study indicates there are a myriad of reasons behind consumer bankruptcies. The report shows that the vast majority of respondents, 63%, said they were overextended on credit. Such a figure may not be all that surprising, considering the widespread availability of credit cards in today’s marketplace. Failing to plan for the future may be [...]
    [July 25th, 2007]
  • Fed to Protect Homeowners from Mortgage Abuse
    The chairman of the Federal Reserve Board is determined to ensure that prospective homebuyers are shielded from lending practices that could be considered abusive—a move that some legislators say is long overdue. In an appearance before the Senate Banking Committee, Ben Bernanke said, “A lot of the subprime mortgage paper is not, you know, as good [...]
    [July 25th, 2007]
  • New Hope on the Credit Card Front
    While the housing market appears to be sluggish and the overall economy may appear to be a mixed blessing, the outlook appears to be bright for credit card companies and their cardholders. The American Bankers Association reports that the rate of credit card delinquencies is surprisingly good, all things considered. The actual delinquency rate in the [...]
    [July 19th, 2007]
  • Low Interest Rates May Not Affect Stocks the Way We Thought
    While there are plenty of reasons for those in the financial community to support low interest rates, now comes word that such rates may not have the effect on stocks that investors have come to believe. Some analysts this July are saying that low interest rates are only good for the stock market when stock valuations [...]
    [July 19th, 2007]
  • College Graduations Bring Decisions About Student Loans
    A number of college graduates are venturing into the job market this summer, hoping to earn enough money to start paying back their student loans. Experts say the typical college graduate has a number of student loans to pay back, given the expenses of tuition, books, and housing. Of course, it can be daunting trying to [...]
    [July 17th, 2007]
  • Experts Recommend Comparison Loan Shopping This Season
    This summer, financial experts are recommending that consumers shop around when it comes to student loan consolidation. While combining several student loans into one can save a college graduate money in the long run, loan consolidation is not necessarily an automatic money-saver in 2007. Flashback to 2006. Financial experts were recommending that college graduates refinance loans prior [...]
    [July 17th, 2007]
  • State to Offer Students a Financial Incentive on Loans
    A number of government entities these days are trying their best to make school financing a bit easier for college students. Yet, students and recent graduates continue to feel the financial pinch that comes from having to take out several loans to pay for their tuition, books, supplies, housing, and meal costs. In fact, the student [...]
    [July 17th, 2007]
  • Congress Poised to Tackle Student Loans
    The $85 billion-dollar student loan industry is now under Congressional scrutiny. Education committees in the Senate and House have O.K.’d legislation designed to overhaul the country’s student loan program. The overhaul is designed to help increase financial aid to students and make it easier for recent college graduates to repay their loans. In recent months, investigators at [...]
    [July 15th, 2007]
  • Student Loan Financial Group Announces Rate Increase
    Student Loan Financial Group says interest rates on variable-rate student loans will rise eight basis points to .08 percentage points on July 1st. Therefore, student borrowers with older variable-rate loans are being encouraged to apply for loan consolidation by June 30th to take advantage of the lower rate. The Student Loan Financial Group is considered one [...]
    [July 15th, 2007]
  • Experts Offer Financial Help to College Students
    Now that summer’s here, high school students may have some extra time on their hands. And financial experts note that this may be the perfect time for students thinking about college to plan out their financial strategies. Given the high cost of a college education in the 21 st century, students would be wise to start [...]
    [July 13th, 2007]
  • Wal-Mart Unveils New Money Strategies
    The corporate powerhouse known as Wal-Mart has unveiled some interesting financial strategies for the year ahead. The company has decided to introduce the Wal-Mart MoneyCard, which is a prepaid Visa that can be utilized wherever Visa is honored. Customers can re-load the card for a fee of $4.95. Interestingly enough, the MoneyCard can also be used [...]
    [July 13th, 2007]
  • Study Shows Customers Late on Mortgage Payments
    A new study issued by a major credit reporting agency indicates that people are more likely to be on time with their credit card payments than with their mortgage payments. The study, conducted by Experian, indicated that subprime consumers are more likely to be 30 days late on their mortgage payments than on their credit card [...]
    [July 13th, 2007]
  • Financially Smart Strategies for Summer
    With the arrival of summer may come the temptation to go on a shopping spree—at your vacation destination, on the Internet, or at your local mall. However, financial experts recommend being financially smart this summer by following some tried-and-true credit management techniques. For college students who are working their way through the summer, 2007 may be [...]
    [July 11th, 2007]
  • Housing Slump is Expected to Continue
    There is every indication that the housing crisis that has gripped the nation is likely to continue in the months ahead. Money magazine reports that some 42 percent of major housing markets are in a state of decline. In fact, there are predictions that some markets will drop by double digits in the coming five years. In [...]
    [July 11th, 2007]
  • Treasury Yields Decrease Following Housing Report
    Bond prices rose Monday following a report that indicated May home sales figures were disappointing. The 10-year Treasury note increased 10/32 or $3.12 on a $1,000 note for a yield of 5.09 percent, a decrease from 5.13 percent Friday. Meanwhile, the 30-year increased 17/32 or $5.31 on a $1,000 note for a yield of 5.21 percent. [...]
    [July 9th, 2007]
  • Interest Rate Round-Up
    A recent survey of interest rates on typical banking products conducted by Bankrate.com yielded mixed results. The survey of large banks and thrifts, performed June 20th, indicates that home equity lines of credit stood at a rate of 8.19 percent, with 8.01 percent assigned for loans. While the home equity line of credit was unchanged, the [...]
    [July 8th, 2007]
  • Home Sales Dip to a Four-Year Low
    New statistics show that sales of existing houses dropped to the lowest level in four years in May. Meanwhile, the median home price has slipped for the 10 th month in a row—a new record. According to the National Association of Realtors, sales of single-family houses and condominiums decreased 0.3 percent to 5.99 million units last [...]
    [July 7th, 2007]
  • Worries About Interest Rates Decline on Wall Street
    Wall Street is apparently not as worried about rising interest rates as it was earlier this year—judging from a recent rise in the Dow. The Dow Jones Industrial Average soared 100 points Monday. The catalyst appeared to be a report indicating disappointing home sales. That report lent credence to the theory that the Federal Reserve will [...]
    [July 7th, 2007]
  • The Latest on Credit Card Debt
    For years, a number of financial experts have been saying that many Americans are in over their heads when it comes to credit card debt. They say that consumers are charging up a storm—leading to years of financial frustration. But just how large is the debt mountain that many Americans are buried under? The answer may [...]
    [July 6th, 2007]
  • Fixed-Rate Mortgages Preferred By Homeowners
    The end of the nation’s housing boom has also meant a decline in the number of people opting for so-called “balloon mortgages.” With a balloon mortgage, a homeowner’s monthly mortgage payment balloons when there’s a rise in the interest rate. Such adjustable-rate mortgages were once seen as a way to enable homebuyers to pay out less [...]
    [July 6th, 2007]
  • Second Homes’ Demand Increases
    Rising mortgage rates, waning interest in subprime mortgages, and bigger-than-needed inventories have combined to give rise to disappointing news on the housing front. However, there is one sector of the housing market that appears to be doing well—the secondary home market. Once upon a time, second homes were the exclusive property of the rich. However, more [...]
    [July 5th, 2007]
  • Home Sales Take a Hit
    Confidence among American home builders appears to be eroding. That’s because house sales are apparently suffering from the one-two punch of stricter lending practices and increasing mortgage rates. That, at least, is the viewpoint of the National Association of Home Builders. The association’s market index dropped two points to 28 in June. That’s the lowest figure recorded [...]
    [July 5th, 2007]
  • Consumers Feeling Pinch of Higher Interest Rates
    American consumers appear to be taking a hit as a result of the rise in interest rates. The yields on the 10-year Treasure note, which affect a number of long-term interest rates, have risen sharply recently. The fallout is expected to have an immediate effect on homeowners and prospective homebuyers alike. For instance, homeowners who are [...]
    [July 2nd, 2007]
  • Inflation Fears May Be Overblown
    A recent report by the Associated Press indicates that worries about inflation may be premature. The report indicated that, if you consider wholesale prices without taking energy and food costs into consideration, the situation is certainly not bleak. In fact, wholesale prices appear to be holding steady, indicating that the Federal Reserve may not alter interest [...]
    [July 2nd, 2007]
  • More Trouble in the Housing Industry
    The name “Freddie Mac” has become synonymous with home-buying—and with good reason. The organization represents the second-largest buyer and guarantor of home mortgages. In other words, if you own a home, chances are good that you’ve had some dealings with Freddie Mac. The housing slump that has affected much of the U.S. in recent months has [...]
    [July 2nd, 2007]
  • Forecast Darkens for U.S. Subprime Mortgage Market
    Subprime mortgages are often considered the wild cards of the U.S. mortgage industry. Extended to individuals who may have less-than-stellar credit, these mortgages are accompanied by a great amount of risk for lenders. However, with the increased risk comes the possibility of greater rewards. As a result, subprime mortgages can be considered a mixed blessing for [...]
    [July 2nd, 2007]
  • Foreclosures Once Again on the Rise
    The Mortgage Bankers Association is reporting that foreclosures on adjustable-rate mortgages made to individuals with troubled credit histories skyrocketed in the first quarter of 2007. Late payments on mortgages also increased dramatically in the initial three months of the year, jumping to an astounding 15.75 percent. The figure represents the percentage of payments which were more [...]
    [July 2nd, 2007]
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