November 27th, 2009
Friday Scoop on Housing Market and Credit Karma News
Black Friday is here –the kick-off to holiday shopping madness that starts at 12:00 am for some dedicated shoppers and will continue until Christmas Eve for last minute gift-givers. If you need to map out your Black Friday game plan, Mainstreet’s Ultimate Black Friday Deal List details 20 of the top hotspots for early morning deals and all-day discounts. Braving the long lines, dodging rude customers, and fighting over the last HD-TV is up to your own discretion.
Once you’re settled down after a long shopping day, don’t forget to look over the latest housing market and CK in the news to keep yourself on track with financial updates.
Credit Karma in the News
- MSN Money mentions Credit Karma as a useful financial tool in the article, “5 ways to kill your credit scores.”
- Gabeanderson.com 6.0 writes a great review on CK! “It’s a great way to make sure your credit is in good standing, and it’s always fun to track data over time…” the blog states.
- The Harbus’ interview with LearnVest CEO, “Why most twentysomethings don’t understand personal finance,” talks personal finance fun and gives a nice mention of CK services.
- How you can get free credit scores from Credit Karma, blogged by Rob Deals.
Home & Mortgage News
- CNN Money answers a question on whether mortgage modification hurts your credit, homebuyer tax credit, and more.
- If you own rental real estate, you should definitely read ahead on SmartMoney about what you need to know on tax rules for losses on rental real estate.
- Housing market is looking perky again as new-home sales up and mortgage rates match record lows, reports USA Today.
- Interested in refinancing? The Washington Post published this article, “There’s more to a refinance than the rate,” with some great questions to ask yourself before you take the refinancing plunge.
- While the Internet might be the greatest invention of the 20th century, not everything should be done online just because it can; MoneyBlogger gives some compelling reasons why you shouldn’t apply for a mortgage online.
This Week’s Mortgage Rates
Mortgage rates are holding at a new record low, as indicated by Bankrate.com’s weekly national survey. While mortgage rates for 15-year fixed mortgage, average 1-year ARM, and 5-year ARM have slipped under 5% in past weeks, the average conforming 30-year mortgage rate has fallen to a record 5.00% this week. It’s still prime time for new home buyers with great rates for many mortgage options.
Bankrate’s recent survey results:
- 30-year fixed: 5.00% — down from 5.06% last week (avg. points: 0.44)
- 15-year fixed: 4.47% — down from 4.48% last week (avg. points: 0.29)
- 5/1 ARM: 4.54% — down from 4.58% last week (avg. points: 0.33)
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