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an old joke used to be that in tough times, banks lend money only to people who don't need it.
mortgage rate drop helping in nevada
‘twas the day after christmas and for some nevada residents, rate drops mean change may come - and not just in presidents. interest rates for 30-year fixed mortgages dropped nationally for the eighth week to reach 5.14 percent, the lowest on record since freddie mac (the federal home loan mortgage corp.) began a weekly rate survey in 1971. so loans are being written.
changing credit card terms squeeze consumers
aggressive rate increases on credit cards are threatening to push struggling consumers into financial ruin, accelerating home foreclosures and the nation's descent into recession.
auto sales fall 32% in october
ford reports a 29% drop for the month compared with last year; general motors is down 45%. among imports, toyota falls 21% and honda, 26%. the last time auto sales were this bad, the u.s. had just gone to war in iraq -- for the first time.
