Good news on the job front! The national unemployment rate dips to 9.7 percent from last year’s 10 percent. The unemployment report still shows that the job crisis remains deep and will likely not return to any normal level in the next three to four years. The unexpected decline offers us all hope that employers could start adding more jobs this year.

For your fix of news and information on the housing market, plus updates on Credit Karma from the media, today’s roundup has you covered.

Credit Karma in the News

• The View From The Bay television show mentions Credit Karma in the program 5 Steps to Healthier Finances!
• 3 ways to get a free credit report with no hidden fees at CreditShout features Credit Karma as an easy way to get started on improving your score.
• The Kansas City Star suggests, “Check this KC measurement—how much credit card debt are you carrying?“
• Press Enterprise talks about Credit Karma as one of its recommended online tools to help maintain a good credit history.

Home & Mortgage News

• Kiplinger answers a question about the homeowner tax credit and filing bankruptcy in, “A home buyer credit meets foreclosure.”
• Speaking of the homeowner tax credit, My Dollar Plan outlines simple steps on how to claim your home buyer tax credit.
• MoneyNing answers the question, should I pay off my mortgage, or have one at all?
• If you are indeed planning to take out a mortgage, Foreigner’s Finances offers some tips on which mortgage loan is right for you.
• Homeowners have more than interest rates to consider at tax time, reports The Washington Post.

This Week’s Mortgage Rates

According to Bankrate.com, the four-week streak of declining mortgage rates broke this week as the average 30-year fixed, 15-year fixed, and 5/1 adjustable rate mortgages rose. Despite the upbeat news of economic growth entering 2010, personal income and consumer spending in December, and a stronger-than-expected manufacturing index for January, mortgage rates were bumped up only slightly. Mortgage survey results:

Bankrate’s recent survey results:

• 30-year fixed: 5.15% — up from 5.13% last week (avg points: 0.49)
• 15-year fixed: 4.55% — up from 4.54% last week (avg points: 0.45)
• 5/1 ARM: 4.56% — up from 4.53% last week (avg points: 0.38)

“The Federal Housing Administration said Wednesday that it would raise down-payment requirements, boost its mortgage-insurance premiums, and tighten its loan underwriting practices in a bid to strengthen its capital reserves and remain solvent in the face of rising foreclosures and delinquencies,” reports MarketWatch.

These policy changes by the FHA address the increasing risk in the housing market, and hope to provide more security and stability for both the industry and consumers. Keep up-to-date with home and mortgage news with today’s weekly roundup, as well as some mentions of Credit Karma in the media.

Credit Karma in the News

• The Kansas City Star mentions Credit Karma in, “Kids & Money - free web sites give you credit history, money management tools.”
• Credit Karma contributes interesting information regarding the current credit card climate in the Philly.com post, “Steps you can take to build credit, get a card.”
• WalletPop highlights Credit Karma’s Credit Score Simulator as a useful tool in understanding the new credit reality: scores must be higher to get the best rates.
• Credit Karma’s Credit Score Climate Report is featured in Bankrate’s weekly survey, “National credit card rates.”
• Cute Geek blog names Credit Karma as her Favorite Website of the Week!

Home & Mortagage News

• Existing home sales sink 16.7% reports CNN Money.
• Ever wondered which is right for you, a 15 year versus a 30 year mortgage? Five Cent Nickel helps you figure it out.
• The New York Times provides a guide to the new good faith estimate to help you navigate the new mortgage forms.
• How to calculate mortgage payments for a home, blogs Moolanomy Personal Finance.
• Consumerism Commentary breaks it down: how to claim the new home buyer tax credit on 2009 tax returns.

This Week’s Mortgage Rates

According to Bankrate.com’s weekly national survey, 30-year fixed mortgage rate fell for the fourth consecutive week to 5.13%. 2010 is off to a good start for mortgage shoppers, as rates have fallen each week in the new year. Despite market jitters due to Obama’s proposal on the separation of trading from banking activity and the Fed potentially wrapping up mortgage bond purchases soon, mortgage rates are moving lower although economic shifts may eventually push mortgage rates high again. Mortgage survey results:

Bankrate’s recent survey results:

• 30-year fixed: 5.13% — down from 5.15% last week (avg points: 0.49)
• 15-year fixed: 4.54% — down from 4.56% last week (avg points: 0.43)
• 5/1 ARM: 4.54% — down from 4.63% last week (avg points: 0.38)

Disappointing news from the housing front: Obama’s mortgage plan to fix the foreclosure crisis is a dud and may have put the housing market recovery at risk, reports the Associated Press. Since its implementation last February, only 66,5000 homeowners of the originally projected 3 to 4 million homeowners have been helped by the federal program. This stands as a serious threat to the housing market because more foreclosed properties flooding the market means the housing crisis could take another turn for the worse. More housing market updates included in the roundup below.

Credit Karma in the News

• Dollars and Nonsense blog mentions Credit Karma in resources to monitor your credit score.
• Las Vegas Review-Journal reports on Credit Karma’s recent Credit Climate stats in the article, “You’re from Nevada: higher debt and a lower credit score.”
• Pacific Business News also used the Credit Climate in Hawaii’s December credit card debt up 7%.
• Bite the “debt bullet” .. save hundreds blogs My Debt Regret, who used Credit Karma to help deal with debt.

Home & Mortagage News

• More homeowners struggling as option ARMS rest higher, reports CNBC.
• The Washington Post reports a disturbing new trend: Mortgage lenders can sidestep new rules to prevent low-ball estimates. Lenders seem to be ducking the new, standardized good-faith mortgage estimates the federal government mandated.
• Problems with the Homebuyer tax credit, with no e-file and four-month delays, writes CNN Money.
• A reminder! The clock is ticking on the First-Time Homebuyer Credit, and American Consumer News provides a list of criteria to qualify.
• Read more on the growing trend of people who are letting mortgages slide in order to pay other bills in the article, “What mortgage? many pay plastic first,” from MSN Money

From big cities’ high cost of living to the Midwest’s more affordable financial climate, where you live impacts your finances. If you are (or hope to be) a New Yorker, San Franciscan, or Washingtonian, home prices and general cost of living puts these areas at the top of America’s costliest cities. If you are looking for more bang-for-the-buck cities with solid housing market, stable employment, and reasonable property taxes, Omaha-Council Bluffs, Iowa and Little Rock, Arkansas made the top two spots for affordable living.

For more housing market updates, as well as Credit Karma news, check out the following roundup:

Credit Karma in the News

• Kiplinger mentions Credit Karma in FAQs on the new credit card rules, discussing how to qualify for a credit card with bad credit.
• How to get a free credit score, at Bankrate.com, features Credit Karma.
• Credit Karma makes the list on The Examiner’s Bay Area Cool Companies of 2009.
• ABC News names Credit Karma as a tool for strengthening your finances in 2010.
• More fees, less rate hikes? 5 changes 2010 could bring for credit cardholders, from MyBankTracker, quotes a few predictions from Credit Karma’s CEO Ken Lin: “As we look to 2010, creditors will be competing for the best customers as the economy improves.”

Home & Mortagage News

• The Wall Street Journal reports on how to find a moneymaker in the housing catastrophe.
• Thinking about refinancing? Bankrate.com offers two great articles of refinance tips in credit do’s & dont’s before a refinance and 3 steps to refinance your mortgage.
• Be wary of Uncle Sam’s mortgage modification program because it may affect your credit score, reports The New York Times.
• Read The Simple Dollar blog’s personal house-hunting story on home buying as an emotional purchase.

This Week’s Mortgage Rates

According to Bankrate.com, mortgage interest rates fell for the second straight week. The housing market is picking up more movement as mortgage applications rose a seasonally adjusted 14.3% when compared to a week earlier , applications for new home purchases edged up 0.8%, and refinancing activity surged 21.8% in the first week of January.

Bankrate’s recent survey results:

• 30-year fixed: 5.18% — down from 5.27% last week
• 15-year fixed: 4.69% — down from 4.76% last week
• 5/1 ARM: 4.47% — up from 4.43% last week

New home purchases slowed down at the end of 2009 as November slumped 16% in fewer signed sales contracts compared to October. This is the first decline in sales after nine months of gains, and far surpasses analysts’ expectations of a 2% decrease. Since the deadline for the Homebuyer’s Tax Credit has been extended to the end of June from the original deadline of December 1, 2009, prospective home buyers took a breather in November from rushing to sign contracts.

Uncle Sam anticipates that the extended and expanded Homebuyer Tax Credit, which now includes first-time homebuyers as well as returning homebuyers, will generate as much housing market activity this spring as the program did in the fall of 2009. Read on for more housing market news as well as Credit Karma updates.

Credit Karma in the News

• Women on the Web mentions Credit Karma in the article, “An action plan for 2010,” as a resource to double-check your credit.
• ABC15 News advises consumers to be smart shoppers and don’t pay to clean up your credit score, and encourages readers to check out Credit Karma.
• “If you are able to improve your credit score from good to excellent, you open up a world of option,” said Credit Karma CEO Kenneth Lin in the LA Times article, “New credit-card rules add accountability.
• Road to the Real World blog does a website review of Credit Karma.
• Credit Karma predicts that spending will increase and savings will slow on WalletPop’s top five credit card predictions for 2010. “Many consumers delayed purchases in 2009. Many want good news, and I think with consumer confidence on the way up, 2010 will show increasing consumer spending and less saving,” says CEO Kenneth Lin.

Home & Mortagage News

• The Chicago-Sun Times proclaims that 2010 is good for renters.
• Here’s a few reasons to be a renter right now from the blog Bargaineering and why he dislikes real estate as an investment.
• Rich Credit Debt Loan explains the dangers of long term and interest only loans for homes.
• As mortgage rates steadily increases above 5%, the LA Times reports on how rising mortgage rates will test housing market.
• What are experts’ predictions for 2010’s housing market? The Washington Post forecasts what could follows a decade of boom and bust.

To kick off a prosperous 2010, here are some highlights from Kiplinger’s 11 Things to Celebrate as 2009 Comes to A Close: credit card debt is declining, the personal savings rate is up again, and it’s the best time in decades to buy a new home! Cheers to continued financial success and good news in the new year, for our economy and for each of us.

Credit Karma in the News

• The Baltimore Sun presents Credit Karma data to support why getting rid of that debt burden takes focus and planning.
• USA Today test drives Credit Karma as one of the uniquely free sites where you can and should check your credit profile.
• Another mention of Credit Karma as a good resource to check your credit profile for free can be found on Asbury Park Press.
• Credit Karma’s November Climate Report makes an appearance on The Motley Fool’s amusing blog post, “5 signs your spouse is a financial Tiger Woods.”

Housing Market & Mortgage News

• If you are wondering what a reverse mortgage is and if its right for you, Get Rich Slowly has your answers.
• MSN Money offers 10 great tips for mortgages for 2010 on everything from credit scores to down payments.
• Home costs keep going up reports The Wall Street Journal in this short and helpful article.
• Cash Money Life explains the pros and cons of mortgage escrow accounts.
• Follow this CBS News financial journalist’s predictions for what 2010 has in store for housing market.

Do you think you could live happily on 75% less money? MSN Money poses this question as the Great Recession spills over into 2010 and challenges consumers to do more with less money. Is living a happier, more financially-fit lifestyle on your list of resolutions this year? Read ahead for debt reduction tips and credit card strategies to help you maximize your New Year’s money management habits.

Credit Card News

• Charge cards make a comeback in our credit crunched economy in the Wall Street Journal’s Tamer cards for toughter times.
• Another alternative to credit cards is gift cards, and MSNBC wants to make sure you know how to get full value for your gift card.
• Building an army of cashback credit cards is the best way to optimize your earning power as a savvy credit card user, advises Money Under 30.
• New credit card rules add accountability reports the Los Angeles Times, and explains how your credit card company will change once major industry reforms take effect in February.
• What is the 10 second credit limit increase? Bargaineering blogs on the quick credit line increase you might be eligible for, and also the benefits and drawbacks of upping your limit.

Debt News

• Wise Bread helps consumers get a grip on their debt with advice on how to obtain a clear, concise snapshot of your personal finances.
• If you are intimidated by the heights of your mountain of debt, The Chicago Tribune maps out the first steps on how to scale it.
• Looking into debt consolidation? Doughroller suggests one method of consolidating debt with P2P websites Lending Club or Prosper; it might be just the kind of debt help you need.
• Pay off debt in 2010 by increasing your debt snowball blogs Enemy Of Debt. Some motivating words to get you on your way: “Being broke is no fun. Living paycheck to paycheck is stressful, so now it is time to make the changes necessary.”
• Another post to help with your New Year’s resolution to ditch debt: Kiplinger puts you on a financial diet for 2010 with 4 ways to trim your spending. Start simple with #1: Track your spending.

The unemployment rate is falling! A government report shows that more states, 36 to be exact, reported declining unemployment rates in November while only 8 states posted rising unemployment; 6 states held the same jobless rate. Across the nation, the unemployment rate improved to 10% from October’s 10.2%. Better prospects in the job market could ring in feelings of bottom-to-top economic recovery come new year. For news on Credit Karma and housing market, check out the following round-up:

Credit Karma in the News

• CBS MoneyWatch adds some advice from Credit Karma to the article, “What to do in 2010: banking, loans, and credit cards“.
• Know your limits features Credit Karma November credit trends, reported by St. Joseph News-Press.
• The Coor’s Credit Union Blog does a quick, fun review of our site in Your Credit Karma.
• Improving a great credit score comes down to timing, reports CreditCards.com, and also includes some tips from Credit Karma.
• Want to whip your personal finances into better shape? MickMel blogs about Credit Karma as one of the ways to organize your digital life.

Home & Mortgage News

• Even heard of extreme modifications: 2% mortgage? CNN Money reports.
• CashMoneyLife shares 6 advantages of renting instad of buying your home.
• Should you pay the mortgage or walk away? Wall Street Journal shines some light on the topic before you make a decision.
• Worried about your safety but can’t afford a state-of-the-art alarm system? Frugal Dad blogs on affordable home security techniques to consider during the holidays (and beyond).
• MSN Money reports on an invisible threat to home values, and how neighborhood foreclosures affect local property value.

This Week’s Mortgage Rates

Mortgage rates across the board are inching higher for the third consecutive week, as indicated by Bankrate.com’s weekly national survey. Rates for the three most popular mortagage types–30-year fixed, 15-year fixed, and 5/1 ARM–have increased nearly half a percent since last week. Bankrate.com reports that the continued rise in mortgage rates, which are closely related to yields on long-term Treasury securities, are being influenced by an improving economy and a glut of government debt that has served to push yields on government debt higher in recent weeks.

Bankrate’s recent survey results:

• 30-year fixed: 5.13% — up from 5.04% last week (avg. points: 0.42)
• 15-year fixed: 4.53% — up from 4.47% last week (avg. points: 0.40)
• 5/1 ARM: 4.55% — up from 4.55% last week (avg. points: 0.39)

Did you know that 21 states had an increase in foreclosures of over 100% from 2008 to 2009 and the highest increase was South Dakota with a shocking 1,575% increase? This map shows foreclosure rates by state and shows how foreclosure has affected states and regions. It seems unlikely foreclosures won’t peak and start falling back until unemployment, among other economic factors, improve. Here’s the latest on the housing market and Credit Karma in the news:

Credit Karma In The News

• The Motely Fool declares, cancel Christmas! Credit Karma data helps to support the Fool’s wild suggestion.
• Credit Karma’s latest Credit Climate Report shows that credit card debt falls in San Francisco reports San Francisco Business Times.
• The Consumerist mentions Credit Karma services in the post, Ooh shiny: Sears Card gives free credit scores.
• Credit Karma makes the list of SmartLife’s 100+ sites to help you manage your personal finances online.
• Info Barrel writes a great review on Credit Karma entitled, How to easily get your credit score for free.

Home & Mortgage News

• Do you know what kind of credit score you need to get the best mortgage rates? NY Daily News offer this advice and more to prospective homeowners in 10 things you need to know to get a mortgage in 2010.
• Attention new graduates! Don’t buy a home within 5 years of graduation suggests Bargaineering. Read on to see why.
• CNN Money gives you a sneak peek of the housing outlook for 2010.
• “Cast a wide net”. Check out more of Five Cent Nickel’s take on how to get a good deal on an apartment.
• Wise Bread debunks the cost of living myth and reasons out how to minimize the cost of living when moving.

This Week’s Mortgage Rates

Rates for the three most popular mortgage loans– 30-year fixed, 15-year fixed, and 5/1 ARM– increased slightly this week, according to Bankrate.com’s weekly national survey. Factors, such as the better-than-expected employment report in November and the Federal Reserve continuing to support low interest rates for an extended time, just weren’t enough to move mortgage rates by any appreciable difference. On the bright side, mortgage rates are almost a full percentage point lower than a year ago and still within striking distance of record lows. Mortgage survey results:

Bankrate’s recent survey results:

• 30-year fixed: 5.04% — up from 5.01% last week (avg. points: 0.43)
• 15-year fixed: 4.47% — up from 4.46% last week (avg. points: 0.32)
• 5/1 ARM: 4.55% — up from 4.52% last week (avg. points: 0.32)

Mortgage rates increased slightly this week with 30-year fixed mortgages rising from 5 to 5.01%. There is still plenty of encouraging signs for the housing industry, like the slight drops in 15-year fixed and 5-year ARMs mortgage rates, as well as the extension of homebuyer’s tax credit to help buyers get local deals on new homes. Stay abreast of Home & Mortgage News at every Friday’s roundup so you can track the movement of the latest mortgage rates.

Credit Karma in the News

• Can people with bad credit get a peer-to-peer loan? American Banking News mentions Credit Karma in their answer.
• Sun Sentinel’s flashes some Credit Karma data in the recent article, “Digging Out From Under a Mountain of Debt.”
• Augusta Chronicle quotes Credit Karma CEO Ken Lin in reporting that stores opened early for Friday’s rush.
• My Two Dollars name-drops Credit Karma in their advice on how to make sure your finances are in order for 2010.

Home & Mortgage News

• Check out WalletPop’s top 10 tips for finding a home loan refinance if you are considering refinancing soon.
• Ten questions on the volatile housing market plus the answers you need, brought to you by Yahoo Finance.
• BankRate.com counts down top tips for the homebuyer tax credit.
• Ever wonder how compound interest works on your mortgage? Read up on Eliminate the Muda’s two part series, “Compound interest - friend or foe“.
• Plan ahead for your future home with U.S News & World Report’s, “Getting a Mortgage in 2010: 10 Things to Know“.

This Week’s Mortgage Rates

After record drops in the past months, 30-year fixed mortgages are moving upwards at a snails pace, indicates Bankrate.com’s weekly national survey. While 30-year fixed mortgages rose from 5 to 5.01 percent, the average 15-year fixed mortgage set a new record low of 4.46% while adjustable rate mortgage varied, with the average 3-year ARM jumping to 4.77% and 5-year ARM dropping to 4.52%. Bankrate.com reports that mortgage rates are sinking to such low levels because the Federal Reserve isn’t showing any indication of raising interest rates soon, plus global investors continue to buy debt backed by the U.S government.

Bankrate’s recent survey results:

• 30-year fixed: 5.01% — up from 5.00% last week (avg. points: 0.39)
• 15-year fixed: 4.46% — down from 4.47% last week (avg. points: 0.32)
• 5/1 ARM: 4.52% — down from 4.54% last week (avg. points: 0.30)