A live price quote is believable. A price that is not live, for any of the reasons given below, is not believable. Yet many borrowers shopping for a mortgage select lenders on the basis of price quotes that are not live.
For most of its history, the Federal Reserve has been dominated by bankers and orthodox economists, who kill the recovery at the first sign of inflationary risks. Happily, the Fed today is led by Janet Yellen, a very uncharacteristic Fed chair who spent most of her career as a labor economist, of all things. Yellen is aware of the changes in the structure of labor markets and is unlikely to jump the gun on raising rates, though it's always possible that she could be outvoted. The risk today is not that an improving jobs picture will set off inflation. It's that even tight labor markets, by themselves, will not generate enough pressure for wage increases, because workers have lost so much bargaining power.
The Federal Reserve Board is openly mapping out an actual job-killing strategy and drawing almost no attention at all for it. The Fed's job-killing strategy centers on its plan to start raising interest rates, which is generally expected to begin at some point this year.
In an attempt to reverse the slump in China's money supply growth, the People's Bank has just reduced its benchmark interest rates for the second time in three months. A wise move.
GOP presidential aspirant and former neurosurgeon Ben Carson had an interesting idea about bank loans when asked about rising interest rates and the national debt, at a closed-door gathering of Americans for Prosperity at the South Carolina Tea Party Coalition Convention.
You know the old expression "Be careful what you wish for; it may actually come true"? Well, somewhere there are a bunch of early-1980s economists who may now be regretting what they wished for 35 years ago.
CD accounts can still be useful and beneficial financial tools, though. With higher rates than traditional checking and savings accounts, on average, these accounts are great when trying to grow a set amount of funds, on the side, for a future expense or goal.
Low oil prices have already been used to justify an interest rate cut, as well as a delayed and, presumably, reworked federal budget. With such a convenient scapegoat at hand, you can bet it won't be long before low oil prices will be made to shoulder even more blame.
When you're shopping for a home, it's best to stay aware of mortgage trends and in close touch with your lender.
Upper middle class and wealthy people usually don't just lounge on a beach day-after-day. High-powered careers and job changes often accompany financial success. More and more these days, the ability to get that next job can include having a solid credit history.
The housing market has shown massive improvement, nearing pre-recession values around the country; still, less people are willing to buy and choose to rent instead. This can be attributed to the much smaller percentage of first-time buyers.
But even with the generous cash flow facilitated by the Fed, annual productivity of many shale gas and tight oil fields have either peaked or are in terminal decline.
ECB President Mario Draghi has been highly effective with his words alone -- moving markets with speeches and little action. However, by doing so he has also set the bar high and expectations for action are becoming the norm.
We have the central bank of the US acting deliberately to keep workers from getting pay increases. They justify their actions over concerns about inflation, but we need not take these seriously. Who knows what they believe, but the real-world risk of a dangerous inflationary spiral ranks alongside the risk of attacks by Martians.
The conventional wisdom: low interest rates are good for both economic growth and the stock market. Unfortunately for the conventional, the "wisdom" of low-rates-stimulate-growth omits three features.
The marketplace for credit cards is more complicated than ever. Points programs, cash back plans and variable interest rates all have consumers drowning in the fine print, trying to make some sense of what they're applying for.