Freddie Mac has stated that the 30 year mortgage is at record lows and fell to its lowest rate in 37 years. The rate has dropped to 5.19% from 6.14% a year ago. According to bankrate.com, the average monthly rate is at 5.28%, and the record low for their 10 year index was 4.88%. What is even more interesting is that the averages may not be telling the full story. Some lenders are still a little frozen while others are ready to lend. There appears to be rates as low as 4.25% out there.
December, 2008
Yet Another Strike Against the U.S. Dollar!
Submitted by Sean Hyman on Wed, 12/31/2008 - 11:49During 2008, one of the few financial instruments in the world that went up was the U.S. dollar. It became a great defensive play as investors ran back to the “world’s reserve currency”. Also, investors began to flee the emerging markets and repatriated their funds back into the U.S. which caused them to sell out of the foreign currencies and repurchase dollars.
Also, as stocks and commodities plummeted throughout the latter part of 2008, investors looked for any “beaten down” safe havens out there that they could run to. The dollar had been sold off for years back to back. So there were very few financial instruments beaten down like this one. (However, the Japanese yen was in the same shape also).
So for a combination of all of these reasons, the dollar was “propped up” during 2008.
9 New Years’ Resolutions that Will Change your Financial Life
Submitted by Bob OBrien on Tue, 12/30/2008 - 13:18Happy New Year from MyWealth.com!!! 2008 was a difficult year for most people, but 2009 is a brand new year and although things will probably still be rough, you can ease your pain by knowing your financial future will be different. Building wealth and financial security is a lot easier than you think and all you need is a little more education and direction.
Get Poised to Profit from More Retail Store Closings After the Holidays!
Submitted by Sean Hyman on Mon, 12/29/2008 - 15:47It was a nightmare of a year for the retailers in 2008. It doesn’t look like the start of 2009 will be much better for them. After a whopping 160,000 stores closed in 2008 I am expecting many more closings to follow in January and February.
You see, many of these “ailing retailers” won’t tip their hand that they are about to fold until they’ve raked in every last cent they can from the Christmas and after Christmas sales. Once this rush dies off by the end of January, we will see the next wave of closings.
Six Tips to Help You Avoid a “Madoff Type” Investment Scandal
Submitted by Bob OBrien on Mon, 12/29/2008 - 12:13As the fallout from the Bernard Madoff scandal continues to be unraveled, the story only gets sadder and sadder. Many people seem to believe that the victims are just very wealthy people, but this is absolutely not the case. Some of the victims are retirees that have lost everything and can no longer pay their day to day bills.
Get Ready for a “Fed Induced” Period of Inflation!
Submitted by Sean Hyman on Fri, 12/26/2008 - 10:14Well, 2008 has been a period of deflation. The U.S. and global economy has slowed dramatically and thus corporate expansion has come to a halt as consumer spending dried up.
So the Fed didn’t sit idly by. No, they do what they feel they do best which is print money. It’s a great tactic short term to get things going…normally (but usually a bad mistake longer term for the economy).
I say, normally, because when the Fed pumps money into the economy and gives banks access to more money and lower interest rates…they normally pass along the money and the low rates to the public and to corporations which need the money to expand and grow.
Saving for your kids' college - 529b plans and other options
Submitted by Bob OBrien on Wed, 12/24/2008 - 10:56
Housing Prices and Sales Still Sinking
Submitted by Bob OBrien on Tue, 12/23/2008 - 15:34The November real estate numbers came out today and they were not very good. The median average price in the U.S. for a home dropped from $208,800 to $181,300, a 13.2% drop from last year. Inventory is still rising going from a 10.2 month supply of homes to an 11.2 month supply. Which means it would take 11.2 months to sell all the current properties for sale. In a stable real estate market this number is about 6 or lower. Nearly 50% of the activity in the market was buyers of distressed properties according to the National Association of Realtors.
1 Euro = 1 Pound??? It could happen!
Submitted by Sean Hyman on Tue, 12/23/2008 - 10:56For years and year, whatever direction the euro went, the pound tagged along and vice versa. This produced a wide trading range for the last 30 years. However, we live in a new day today as we break through those historic highs this month!
Check out the chart below.
30 Year Highs are Taken Out! Will we reach parity?!?
There’s been a power struggle since the advent of the euro!
