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)