Friday, September 3, 2010

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Financial Oversight Reform

See most recent articles: President Obama signs into law historic Wall Street reform that includes a new credit industry overseer to protect consumers. See reform highlights.
Credit Card Reform: See overview of new law's main provisions.
Student Loans: More college aid, easier terms for graduates.
Credit card laws

Latest News & Financial Reform

Mortgage Rates Set New Lows for 10th Time: 30-Year at 4.32% Mortgage Rates Set New Lows for 10th Time: 30-Year at 4.32%

Despite prices of Treasury bonds pulling back somewhat in recent days, mortgage rates continued... 


Pending Home Sales Register Surprise Jump in July: NAR Pending Home Sales Register Surprise Jump in July: NAR

Pending home sales of existing homes unexpectedly jumped 5.2 percent in July based on the forward-looking... 


Record Low Rates Lift Mortgage Refinancing to 15-Month High Record Low Rates Lift Mortgage Refinancing to 15-Month High

Mortgage refinancing activity has bounced back to a 15-month high as borrowers are taking advantage... 


FDIC: ‘Problem’ List Grows – But Earnings Up, Charge-offs Down FDIC: ‘Problem’ List Grows – But Earnings Up, Charge-offs Down

Insured banking institutions reported earnings of $21.6 billion in the second quarter of 2010,... 


Discover: Small Business Confidence Plummets in August Discover: Small Business Confidence Plummets in August

Small business confidence dropped sharply on Discover’s national index in August, with 62... 


Group Urges More Principal Reductions as Foreclosures Outpace Fixes Group Urges More Principal Reductions as Foreclosures Outpace Fixes

The increased use of loan modifications resulting in lower payments has created more “sustainable”... 


Mortgage Fixed Rates Still Setting New Lows: 30-Year at 4.36% Mortgage Fixed Rates Still Setting New Lows: 30-Year at 4.36%

Long-term mortgage rates continued their historic slide this week, with the 30-year fixed rate... 


Sales of Existing Single-Family Homes Plunge to 1995 Level Sales of Existing Single-Family Homes Plunge to 1995 Level

Sales of existing homes plummeted 27 percent in July to a seasonally adjusted rate of 3.83... 


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Consumer & Credit Trends

Average Credit Card Debt Down to 8-Year Low: Below $5,000 Average Credit Card Debt Down to 8-Year Low: Below $5,000

Credit card delinquencies – payments overdue at least 90 days – fell again in the second... 


U.S. Bankruptcies Jump to Highest Level Since 2005 U.S. Bankruptcies Jump to Highest Level Since 2005

Consumer and business bankruptcy filings rose 20 percent in the 12-month period ending June... 


Mortgage Delinquencies Still High at 6.67% in Q2: TransUnion Mortgage Delinquencies Still High at 6.67% in Q2: TransUnion

Mortgage delinquencies – borrowers 60 or more days past due – posted a 14.8 percent increase... 


Lowest Interest Rates Fail to Spark Mortgage Applications Lowest Interest Rates Fail to Spark Mortgage Applications

A key index that measured mortgage applications last week was essentially unchanged, only nudging... 


Report: 21.5% of U.S. Homeowners with ‘Underwater’ Mortgages Report: 21.5% of U.S. Homeowners with ‘Underwater’ Mortgages

The percentage of U.S. homeowners in negative equity, or with “underwater” mortgages, slipped... 


30-Year Mortgage Sets Record Low at 4.49%; 15-Year at 3.95% 30-Year Mortgage Sets Record Low at 4.49%; 15-Year at 3.95%

Fixed-rate mortgages set new lows for the 7th week in a row, with the 30-year at 4.49 percent... 


Discover Reduces Lowest Eligible Student Loan Rate Discover Reduces Lowest Eligible Student Loan Rate

Discover Student Loans, a division of the financial services more widely known for its credit... 


Pending Home Sales Slip Again in Post-Tax Credit Slump Pending Home Sales Slip Again in Post-Tax Credit Slump

Signed contracts to purchase homes dropped again in June, setting a new low for a key, forward-looking... 


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