News

Finance and Economy

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 [...]

Historic Low Mortgage Rates Continue; Many States 30-year Fixed Mortgage Rates Fall Below 5.00 Percent
RISMEDIA, Dec. 29, 2008-Mortgage rates remained low last week and many states saw sub-5.00 percent rates for the first time in recent history. The weekly average rates for 30-year fixed mortgages declined to 4.96 percent, down from 5.15 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web [...]