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U.S. Mortgage Rates for 30-Year Loans Rise to 2-Year High

U.S. Mortgage Rates for 30-Year Loans Rise to 2-Year High

U.S. mortgage rates for 30-year loans rose to a two-year high, increasing borrowing costs amid signs of an improving job market. The average rate for a 30-year fixed mortgage climbed to 4.51 percent, the highest since July 2011, from 4.29 percent last week, McLean, Virginia-based Freddie Mac said in a statement today. The average 15-year [...]

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Has Fed killed housing and, with it, the economy?

Has Fed killed housing and, with it, the economy?

Has the Federal Reserve strangled the recovery by hinting that it would soon ease back on the throttle? Will higher mortgage rates stop the housing market in its tracks? Or is the economy now steady enough that the Fed can take off the training wheels by tapering its bond purchases? How the economy — and [...]

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Senate Republicans Put Together Their Own Jobs Plan

Senate Republicans Put Together Their Own Jobs Plan

Rather than support President Obama, Senate Republicans have decided to create their own ‘Jobs Plan.’ The plan is basically a repackaged version of conservatives’ ideal agenda, featuring Republican staples like tax reform, a balanced budget amendment, regulatory overhaul, expedited energy drilling, and, the repealing of Obamacare. The bill draws on past proposals from lawmakers on [...]

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Oil speculation could be adding $600 to your gas bill

Oil speculation could be adding $600 to your gas bill

A consumer group predicts market speculation will cost U.S. households more than ever in 2011 and the drain on household incomes will increase unless government steps in. “Speculation will add $600 to the average household expenditures on gasoline in 2011,” a report released Thursday by the Consumer Federation of America said, “resulting in the highest [...]

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Will There Be Another Round of QE in 2012?

Will There Be Another Round of QE in 2012?

I was just reading a bit about the possibility, or lack thereof, regarding a QE3 in early 2012. Dennis Gartman, author of “The Gartman Letter” doesn’t see it happening and even if it does, there’s some question as to the effectiveness of the tactic in the first place. Gartman states, “The money is created, for [...]

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Why Americans Hate Economics

Why Americans Hate Economics

In university classrooms—and especially the Obama White House—fancy theories of macroeconomics defy basic common sense. By STEPHEN MOORE Wall Street Journal Christina Romer, the University of California at Berkeley economics professor and President Obama’s first chief economist, once relayed the old joke that “there are two kinds of students: those who hate economics and those who really [...]

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A Thriving Growth Area in a Weak Economy: Hair

A Thriving Growth Area in a Weak Economy: Hair

By SABRINA TAVERNISE @ New York Times In low-slung suburban strip malls, nestled among fast-food restaurants and auto supply stores, hair salons are sprouting like mushrooms. The Census Bureau recently noted their jump in an otherwise glum report about mom-and-pop businesses, stating that the number of hairdressers and barbers and the shops they work in grew by [...]

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