Consumer Catch-up: Spending cutbacks, mortgage rates climb, boosting financial well-being

Spending dropped last month, in the biggest decline in 11 months. Americans cut back in January, holding off on purchasing cars, furniture, and other items. The change pushed down retail sales by three tenths of a percent. It's the largest setback since a half a percent fall in February of 2017.
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The Fed is expected to continue working to shrink the agency's balance sheet, including MBS issued by Fannie Mae, Freddie Mac, and Ginnie Mae. However, some believe even more drastic changes are needed for the GSEs. Ginnie Mae Acting President Michael R. Bright spoke before the House
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CHICAGO — A federal jury today convicted an Illinois attorney of fraudulently obtaining loans related to the purchase, maintenance and sale of properties on Chicago's South Side. JESSICA ARONG O'BRIEN fraudulently caused lenders to issue and refinance approximately $1.4 million in mortgage and
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If you look at a chart of house prices going back to the 19th century, the first thing you'll notice is that for most of that time they didn't do all that much. The line looks a lot like a hockey stick: a long period of nothing, followed by a sudden upwards lurch after 1970. The scale of that jump is hard to get one's
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They were outlawed by the federal Fair Housing Act of 1968. Before, the Federal Housing Administration denied mortgages based upon race and ethnicity, a practice known as redlining that kept people who weren't white from buying into more desirable areas where property values were rising.
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The SVIT real estate fair stands for attractive residential offerings in the area of ​​Zurich. We would be pleased to welcome you to our stand no. 1. The fair takes place from Friday, March 16, 2018 to Sunday, March 18, 2018 at Lake Side in Zurich. Admission is free for all visitors. Opening hours: Friday
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Terms and conditions vary from bank to bank depending on internal lending policies, size of the bank and nature of the loan. Some banks, for example, do not charge a fee for early settlement of secured mortgage loans. The bank is able to do so because the objective is to encourage people to pay back
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The creation of this new bank will be crucial for targeting lending at smaller businesses who are being let down by our current financial system. “Labour is committed to setting up a new National Investment Bank alongside a network of regional development banks to build a high-wage, high-productivity
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An $18 million redevelopment of the property will begin soon and is set to be completed in early 2019. Originally built in 1950, then substantially rehabbed in 1981, Edgewood Court currently consists of 204 units, all part of the federal HUD Section 8 program. Following the renovation, Edgewood Court
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A 114-year-old Illinois community bank is moving into one of the most recognizable locations in the Quad Cities. Fortress Bank opens its newest banking center at East 53rd Street and Interstate 74 next Tuesday, February 20. The 8,000-square-foot building was constructed in 1999 as a Gateway
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Eric Schuppenhauer has joined Citizens Bank as president of home mortgage, taking responsibility for mortgage sales, operations, strategy, secondary markets, and technology teams effective March 5. Schuppenhauer will report to Brad Conner, vice chairman and head of consumer banking.
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Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $74.00 target price on shares of American International Group in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating
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This just in: the priciest listing in today's Fresno rental market is going for $2,995 / month. As absurd as it may seem, it's not the only deluxe residential listing out there. But just how upscale are the features, given these high prices? We combed through local listings in Fresno via rental website Zumper to
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Fortune Brands Home & Security Inc. (FBHS) traded on unusually high volume on Feb. 19, as the stock gained 1.45% to close at $63.82. On the day, Fortune Brands Home & Security Inc. saw 3.33 million shares trade hands on 17,380 trades. Considering that the stock averages only a daily volume of
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Mt. Vernon, NY KeyBank Community Development Lending & Investment (CDLI) has provided a $4.4 million Fannie Mae loan to Mt. Vernon Associates, LP, to renovate Greencourt Apartments, a 76-unit, multifamily affordable apartment complex. The subject property consists of 59 units reserved for
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Singapore used property taxation, among other measures, to avoid a glut of cheap money into the island's housing market. Those so-called “additional” levies are still in place, and now Heng is even raising the basic stamp duty slightly. That should help tamp down frenzied collective sales of old condos
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While I have only lived here a few years, I am already a proud Las Vegan and Nevadan. I relocated here in 2014 after my firm, KRE Capital LLC, took a major bet on Las Vegas, investing in the city's condo market with the purchase of a portfolio of more than 1,300 total residences — a move that many
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Outgoing HSBC Holdings group chief executive Stuart Gulliver said the group's business mix is more oriented towards Asia. He said in a statement today that Asia contributed a larger proportion of the group's profits than in 2015, reflecting regional investment in growing the loan book, building insurance
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Whether you're house hunting or not, it can occasionally be amusing to check out a deluxe listing to see what kind of residences folks with some serious cash can afford. So what exactly does the top of the line of Philadelphia's rental market currently look like — and what amenities, room count and
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Chief Economic Adviser Arvind Subramanian on Monday said that there had been a breakdown of internal controls and external regulatory systems in Public Sector Banks (PSBs) in the light of the latest ₹11,500-crore Punjab National Bank fraud. “The problem has been festering for a long time and it is
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