End of Fed bond buying may nudge mortgage rates

The Federal Reserve this week is expected to remove one of the two crutches supporting the economy since the 2008 financial crisis, ending bond purchases that have held down long-term interest rates. The anticipated decision to halt so-called quantitative easing at a two-day Fed meeting that begins Tuesday marks a milestone in the recovery. But…

Divided SEC adopts mortgage rule, decries lax lending

WASHINGTON (Reuters) – US securities regulators adopted a rule on Wednesday designed to avert another financial crisis, but two officials dissented, saying it did not do enough to discourage banks from lending to borrowers with shaky credit and then passing the mortgage risk to investors. The Securities and Exchange Commission approved the so-called risk retention…

Mortgage rates drop below 4% again

Every time theres news about low interest rates on home mortgages I like to open up the lock box where I keep my important documents. There in the folder holding the mortgage papers on my house in southern Maine is an amazing piece of history. It is a copy of the sales agreement for my…

Reverse mortgage repayment must be made swiftly

A reverse mortgage is due when the borrower dies — and if the borrowers heirs do not either repay the loan or give home back to the lender within 30 days, foreclosure will be initiated within six months. (Credit: iStock) First of two columns on reverse mortgages. My late mothers reverse mortgage was a blessing…

10000 reasons you need an emergency fund

The concept of saving for a rainy day is extremely challenging for some people: What if it never rains? It can be really difficult to put aside thousands of dollars for an emergency that may never occur, especially when you have other financial goals you#39;d like to reach. Of course, if you haven#39;t saved up…

Secure credit cards coming in 2015

As record numbers of Americans suffer from identity fraud while banks and merchants are getting hacked, the credit-card industry is providing a new security system for the cardholder. Retailers, banks and card companies are moving from magnetic strips on credit and debit cards to a chip and PIN card system, which is used in Europe….

Bridgeport marks arrival of Tri-State Biodiesel

Bridgeport Mayor Bill Finch and officials from Tri-State Biodiesel on Friday celebrated the start of construction on the companys new manufacturing and distribution center in the Eco-Technology Park on the citys West End. The Bronx, NY-based biofuel company expects to create 25 jobs targeted toward low-income residents within the first two years of operation, according…

Student debt relief for federal loan borrowers

Re Student debt-relief bill all promise, no delivery (Editorial, Oct. 5): This editorial calls for California to underwrite income-based repayment arrangements for the many unemployed and underemployed student debtors out there. While private education loans lack such options and other consumer protections, several income-based plans already exist for federal student loans, which are what most…