Jan 23, 2010

Vanguard weekly update (1/23/10)

According to the Vanguard weekly update, bonds and stocks tumbled this week after a proposal by the Obama administration to impose new regulations on the banking sector. The economy continued to send mixed signals, including a surprising 4% decline in new housing starts and a spike in jobless claims. Meanwhile, on a positive note, the Conference Board's index of leading indicators rose for the ninth month in a row. For more details on this please check http://www.vanguard.com/econweek012210.

It goes without saying that job creation should be at the center of the recovery for things to look up long term. The incentives provided by the administration have provided the shot in the arm for job growth (if not arresting the decline) and economists and businesses like Privo Corporation (where mortgage home loan processing is an important activity) are hoping that these will provide the momentum for the general market to improve. For more information on mortgage loan processing and how PrivoCorp helps closes loans faster - check out our website @ privocorp.com

Jan 18, 2010

CNN: Record 3 million households hit with foreclosure in 2009

According to CNN Money almost 3 million homeowners received at least one foreclosure filing during 2009, setting a new record for the number of people falling behind on their mortgage payments.

RealtyTrac, the online marketer of foreclosed homes, reported that one in 45 households -- or 2,824,674 properties nationwide -- were in default last year. That's 21% more than in 2008, and more than double 2007's total.

For more information on this article visit CNN Money.

Jan 16, 2010

Vanguard weekly update (First in 2010)

Its been a while since we posted the Vanguard's weekly update. Fortunately there is good news on the economy front. The Federal Reserve's most recent Beige Book showed continued signs of economic growth,while many businesses increased their inventories, signaling an expected pickup in sales. Consumer prices continued to rise slowly, but inflation remains in check. Meanwhile, December's retail sales were less than expected,despite a relatively good holiday shopping season.