Economists Predict Recession Will Persist until Midyear By Diane StaffordRISMEDIA, January 6, 2009-(MCT)-Harry Truman joked that he needed a one-armed economist so he wasn’t faced with someone who always said “on the other hand …” Well, BNA Inc. found quite a few one-armed economists.The business research and information company surveyed 25 economists from financial institutions, consulting firms and academia and found near [...]
U.S. to Buy Huge Stake in GMAC By Justin Hyde and Tim HigginsRISMEDIA, Dec. 31, 2008-(MCT)-The U.S. Treasury will inject up to $6 billion into GMAC as part of a plan to shore up the finances of GM’s lending arm and the U.S. auto industry, the Bush administration said Monday.Under the plan, the Treasury will buy $5 billion in preferred GMAC shares, [...]
Mortgage Rates Down Again after Rising above 5.00% Last Week RISMEDIA, Dec. 31, 2008-Mortgage rates increased slightly last week for the first time since early November. The weekly average rates for 30-year fixed mortgages increased to 5.07%, up from 4.96% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate website Zillow.com(R). Rates for 15-year fixed mortgages decreased to 4.86%, [...]
Professional Appraisal Organizations React to Fannie Mae and Freddie Mac Home Valuation Code of Conduct RISMEDIA, Dec. 31, 2008-The nation’s largest organizations of professional real estate appraisers - the American Society of Appraisers, the Appraisal Institute, the American Society of Farm Managers and Rural Appraisers, and the National Association of Independent Fee Appraisers - have issued the following statement in reaction to the revised Home Valuation Code of Conduct (Appraisal [...]
Retirement Experts Share Year-End Tax Tips for Senior Citizens RISMEDIA, Dec. 31, 2008-As the end of a challenging financial year comes to a close, many senior citizens are searching for new ways to save money during their retirement. Retirement expert Eric Bachman and Certified Public Accountant Jeanne Duhe share six year-end tax tips that are simple yet intelligent ways for senior citizens to save [...]