The Lowest Mortgage Rate ... Ever!

Mortgage rates hit historic lowAmerica reached a milestone on Thursday: The lowest home mortgage rate in history.

According to mortgage financier Freddie Mac, interest rates on a 30-year fixed mortgage dropped below 4% -- to 3.94% to be precise -- for the first time ... ever. And if you can scrape together the cash to manage a 15-year fixed-rate mortgage, the deals are even cheaper -- as low as 3.26%.

Today, we can say, it has literally never been cheaper to finance a home.

But There's Another Important Milestone

Simultaneous with Freddie Mac's astounding announcement, The Wall Street Journal reported that U.S. home ownership (defined as the percentage of owner-occupied housing relative to all occupied housing units) declined 1.1% over the past decade.

Spread over 10 years, that doesn't sound like much, and ownership rates are still the second-highest in history. But it's actually the biggest drop we've seen since the Great Depression.

What Does It All Mean to Homeowners and Home Shoppers?

With stricter bank lending standards making it harder to get a loan, and a weak economy making it harder to afford a home, demand for mortgages is drying up. And as you probably learned in Economics 101, lower demand makes for lower prices.


If, however, you're one of the lucky few who can afford a house in today's economy, it's never been cheaper to finance. For that matter, if you've already bought, now might be a good time to hit up your banker for a refinancing.

But what if you're one of the even luckier few who not only has money for a house, but a bit of extra cash available for investment? Here's where things get a bit trickier.

What Does It Mean to Investors?

Low mortgage rates probably bode poorly for the banks who make home loans, so I'd be leery of investing in Bank of America (BAC) or JPMorgan Chase (JPM) until this trend reverses. I'd furthermore counsel against rushing into an investment in PulteGroup (PHM) or KBHome (KBH) on the theory that low rates will make their businesses boom. The facts just aren't supporting that theory.

A better idea -- if you've got the balance sheet to work it -- might be to lock in a lower rate on your current home, then buy a second home at the same low rate. Rent out the first, and live in the second. Because even if people aren't buying houses, chances are they still want a roof over their heads. Today's low rates give you a great chance to play landlord.

Motley Fool contributor Rich Smith does not own shares of any companies named above. The Motley Fool owns shares of Bank of America and JPMorgan Chase.


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Source: http://www.dailyfinance.com/2011/10/07/the-lowest-mortgage-rate-ever/

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Deutsche Bank Cuts Price Targets On Louis Vuitton, Gucci and Burberry


Gucci New China Store Opening

Deutsche Bank was quick to lower price targets today on eight luxury good conglomerates following the close of Paris fashion week.

Though most brands showed to strong review, fears that a slowing Chinese consumer will cut back put pressure on the mostly French firms. Analyst Francesca DiPasquantonio noted that markets remain focused on 2012 uncertainty as opposed to current healthy returns. 

PPR, the owner of Gucci, Yves Saint Laurent, and Puma saw the deepest cut. DiPasquantonio lowered the $14 billion firm's target price by 17% to €120. LVMH, holder of iconic brands like Louis Vuitton, Marc Jacobs and Tag Heuer, had its target price cut 8%. 

Smaller brands Salvatore Ferragamo and Burberry took haircuts of 12% and 14%, respectively. Deutsche Bank maintained mostly buy and hold ratings on the sector, expecting segment growth of 6% to outpace global GDP growth of 3% next year. Hermes remained the only company on the list with a sell rating, trading 40% above target.

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U.S. Unemployment and Europe's Bailout Let the Market Breathe This Week

U.S. unemployment, European bailoutAfter what seems like an eternity in the doldrums, the stock market came to life this week as investors bet that the economy wouldn't be as bad as had been priced in. After falling on Monday, the Dow Jones Industrial Average (INDEX: ^DJI) posted a big gain over the next four days.

This week, the ISM Index, a gauge of manufacturing activity, rose more than expected. Construction spending grew, as opposed to contracting, as analysts expected. And Europe started to get its act together on a massive bailout fund.

But as usual, it all starts with unemployment.

It's All About Jobs

The biggest report of the week came out Friday morning, when the Labor Department announced nonfarm payrolls for September.

Overall payrolls rose by 103,000, higher than the 60,000-worker gain economists were expecting. The private sector pulled more than its fair share, adding 137,000 jobs as government workers continue to take the brunt of budget crunches around the country.

The Labor Department also revised July and August payroll numbers up a total of 99,000.
This continues a trend of OK but not great economic data in the U.S. as we teeter on the brink of another possible recession. With unemployment stuck at 9.1% it's going to be hard to see a meaningful improvement in the economy until more workers begin working.

Right now, it's as if 90% of the economy is rolling along like a well-oiled machine while 10% is left in the dust. This isn't unusual in the wake of a recession driven by debt and a banking collapse, but it won't feel like a real recovery until more of the economy is included.

Oil Is On a Comeback

Earlier this week, I talked about how Europe's bailout plans and unemployment would rule the week on the market. Well, the news out of Europe midweek was positive and oil was the biggest beneficiary of the market's sigh of relief.

Oil bottomed at $75 Tuesday, but climbed as high as $84 today, driving many energy stocks higher. On the S&P 500, three of the biggest winners were Marathon Petroleum (MPC), Tesoro (TSO), and National Oilwell Varco (NOV), all of which saw their share prices climb at least 12% over the past week.

This week's recovery in the stock market and oil prices doesn't mean Europe is out of the woods, but we may be seeing a light at the end of the tunnel. Slovakia and Malta are the only holdouts keeping the bailout from moving forward, and there's hope that they could vote on ratifying an agreement next week.

Then we move on to a possible orderly default in Greece, which will probably drive the market for the next six months.

Singing the Tech Blues

While oil was screaming higher on hope the economy would recover, concern that PC spending will be weaker than expected sent semiconductor companies south this week.

Research company Gartner said semiconductor sales would fall 0.1% this year, reversing from a previous estimate of 5.1% growth. That helped send shares of Micron Technology (MU) and Advanced Micro Devices (AMD) lower this week.

Loss of a Legend

In reviewing the macroeconomic events of the week, I would be remiss if I didn't mention the loss of Steve Jobs, a worldwide business icon. He built not one, but two businesses into multibillion-dollar empires -- Apple (AAPL) and Pixar -- and revolutionized the computer, the phone, and the music industry, just to name a few.

Jobs was just one man, but he had a greater impact on business and our economy than anyone else in my lifetime. He will be missed.

A Good Week, but Not Great

Depending on your preferred perspective, you could see positives or negatives in the economic data this week. It isn't like we're blowing the economic indicators out of the water, but we aren't in a tailspin, either.

Improving factory activity and a steady gain in jobs are some much-needed positive news heading into earnings season. Next week, we'll find out what all of this economic data means for businesses when they begin reporting earnings.

Motley Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool. The Motley Fool owns shares of Apple and National Oilwell Varco. Motley Fool newsletter services have recommended buying shares of Apple and National Oilwell Varco, as well as creating a bull call spread position in Apple.

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Source: http://www.dailyfinance.com/2011/10/07/u-s-unemployment-and-europes-bailout-let-the-market-breathe-th/

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The Wall Street Protesters Are Now In 15 Major Cities Across The Country


Occupy Philadelphia

It's time for us to check in with occupations in major cities across the country. Demonstrations launched in New Orleans, Portland, and Austin (to name a few) yesterday.

And as a sign that this whole movement is gaining momentum, most of these new protests are starting with hundreds, sometimes thousands of protesters showing up on day one.

According to our sources at Occupy Wall Street, people from other cities approached them about how their camp is organized, so you see the same things being done across the country. You see the human microphone, and you see the same chants.

Of course, we'll also check in with cities that have been going for a bit, like San Francisco and Washington DC. And we'll let you know which cities will be seeing occupations in the coming days.

Seattle

On Wednesday two dozen protesters were arrested for illegally putting up tents in Westlake Park. Most have been arraigned and released without bail.

Now the Mayor is going to allow protesters to camp out in City Hall Park, which has bathrooms, during the night.

But they'll still march in Westlake, and according to Fox News, they'll be getting a boost from the city's unions when they do. We'll see what happens when they march to protest the Afghan War this afternoon.

 Check out a local news station's coverage of the arrests here:

Portland

Occupy Portland started yesterday with 10,000 marchers. 600 of them stayed over night. They're occupying Chapman Square, which is annoying Seattle marathon runners. The Mayor is trying to find a solution to that problem, but the protesters say they are confident that they can all share the space.

Occupy DC

Yesterday, the Stop The Machine protest was held in DC. Its an anti-war protest, and while the Occupy DC protesters expressed their solidarity (and some attended) Stop The Machine, they want to keep it clear that they are a separate movement.

They also have a sense of humor. They made this video pretending to be The 1% riding the DC metro. They play pretty awesome song at the end too.

See the rest of the story at Business Insider

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Credit Card Consolidation Loans - What Are The Options With It?

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In today's world, people having substantial credit card debt exist in abundance. Credit cards and how they are so commonly used has made this all possible. One of the problems though is that at times people will all of a sudden find themselves in a place they didn't realize they were headed. They find themselves dealing with debt they simply can't handle. At this point in time they are left with only a few options to consider. They can look to file for bankruptcy. They can simply ignore paying the debt and face the consequences down the line. Or they can make the intelligent decision to explore credit card consolidation loans as the best path to deal with the problem.

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Debt Management - Benefits and Drawbacks of Using Credit Cards

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Using credit cards for instant payment is a very convenient method of payment in today's world. However, there are loopholes and not everyone would fancy the idea of spending thousands from their credit cards due to high interest rates and other service charges.

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A Complete Guide To The Ponzi Scheme That Is Suburban America


suburbs

Suburban America is a Ponzi scheme.

A report out today from Strong Towns makes this bold claim.

It argues that city planners, like Bernie Madoff, swapped long-term obligations for short-term cash to expand at an unsustainable rate, developing land they could never afford to maintain.

Strong Towns backs up this argument with case studies of a series of doomed municipal projects.

Publicly funded roads will bankrupt municipal budgets

A small, rural road is paved, with the costs of the surfacing project split evenly between the property owners and the city.

Strong Towns asked: Based on the taxes being paid by the property owners along this road, how long will it take the city to recoup its 50% contribution.

The answer: 37 years. The road is only expected to last 20 to 25 years.

Click here for this case study.

A tax-based funding system will not work

A suburban road is in disrepair and needs to be resurfaced. The small project involves repair of the existing paved surface and the installation of new asphalt. The total project cost was $354,000.

Strong Towns asked: Based on the taxes being paid by the property owners along this road, how long will it take for the city to recoup the cost of this project.

The answer: 79 years, and only if the city adjusts its budget higher for capital improvements, in other words, it would immediately need to raise taxes 46%.

Click here for the case study.

'Free roads' are a myth

A group of high-value lake properties petition the city to take over their road. They agree to pay the entire cost to build the road -- a little more than $25,000 per lot -- in exchange for the city agreeing to assume the maintenance. As one city official said, "A free road!"

Strong Towns asked: How much is the repair cost estimated to be after one life cycle and how does that compare to the amount of revenue from these properties over that same period?

The answer: It will cost an estimated $154,000 to fix the road in 25 years, but the city will only collect $79,000 over that period for road repair. To make the numbers balance, an immediate 25% tax increase is necessary along with annual increases of 3% with all of the added revenue going for road maintenance.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/bbpnbI2pTN0/suburban-america-ponzi-scheme-case-study-2011-10

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HAPPY BIRTHDAY VLAD: How Putin's Biggest Fans Have Celebrated His Birthday


putin's birthday

Vladimir Putin is 59-years-old and his supporters have celebrated in style.

Festivities began last night when crowds gathered in 15 cities across Russia, reports the BBC. Supporters sang to animated versions of the Russian president that were broadcast on large screens in the city center. Some, however, have gone even furher.

Al Arabiya reports that a group of young women, dubbed "Putin's Army" hosted a tasting of the Russian prime minister's favorite dishes in Moscow's Red Square. They also said they would rank the sexiest parts of Putin's body and recorded this suggestive birthday video for him.

Additionally, RT reports that thousands are taking to Twitter to write poetry in honor of the day. Small rhyming pieces, ranging from messages of support, to sarcastic bouts of opposition are currently making the rounds, all ending in with "Thank Putin For This." 

Putin's birthday also coincides with the murder of anti-Kremlin journalist Anna Politkovskaya. Her former employer, Novaya Gazeta, an opposition newspaper, said today that under Putin Russia's future will be one of "constant nausea."

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Three Myths About Small-Business Debt

There is an old saying that if you repeat something often enough, it becomes the truth. That can be a dangerous practice in the business world, especially when it comes to handling your money. So to help you separate fact from fiction, we are listing the three biggest myths about debt that need to be debunked. Here?s our top trio of non-truthfulness.

1. You can?t build or expand a business without debt.

Nonsense, baloney and simply not true. Just ask the founders of Apple Computer, Mattel Toys or Starbucks?all Fortune 500 companies that started with next to nothing. The truth is, according to the Census Bureau?s data, 60% of all small businesses opened in a given year need less than $5,000 to start . They don?t want to begin their dream saddled with huge debt.

2. A line of credit is needed to cover cash-flow fluctuations.

Once again, not true. With good accounting and budgeting practices, any business?even those that are seasonal or unpredictable?can forecast their cash flow and be ready for down times throughout the year. Plus, having cash saved (retained earnings) allows you to become your own line of credit.

3. Large purchases require debt.

Okay, you understand not going into debt for pretty much anything. But what about those big purchases, like real estate or expensive equipment, that can costs thousands and thousands of dollars? You have to borrow, right? Absolutely not. The same theory holds true for the big-buck buys. You don?t need to borrow. Instead, make a plan, save for them and pay cash.

Dave systematically saves toward a purchase goal and puts a very specific amount as a line item in the monthly accounting, almost as if it were an expense.

In the meantime, he:

  • Rents until he can pay cash.
  • Outsources to avoid going into debt.
  • Buys used instead of new at a significantly lower cost.

The best way to grow your business is to take a lesson from The Tortoise and the Hare. Slow and steady always wins the race. You don?t need to borrow money to make it big. Instead, save for what you need and then expand. It lowers risk and minimizes mistakes. And that?s the truth! No myths allowed.

No leader should lead without these principles. It?s what your team members need to see in you, and what you want to see in them. Learn more about the EntreLeadership Live Events, and put Dave's 20 years of proven business principles to work for you.

In 20 years, Dave has grown his company to a national winning brand with more than 300 team members who have impacted millions of lives. His company has been named one of the ?Best Places to Work in Nashville? four years in a row. EntreLeadership is how he?s done it and how you can do it too. Get your copy of the new book now!

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Source: http://www.daveramsey.com/article/three-myths-about-small-business-debt/lifeandmoney_business

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