“If you are planning to buy a home anytime soon, you’ll most likely need to apply for a mortgage. Unfortunately, mortgages can be tougher to get these days than many people think.
Credit standards have relaxed a bit, but are still high on a historic basis. For example, the average FICO score for an approved conventional mortgage is 755, and the average score of those applicants who get denied is 724, which is considered to be a very good credit score…”
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Freddie Mac released its Primary Mortgage Market Survey results.
According to the results, fixed mortgage rates are lower this week than they were at this time last year.
30-year fixed-rate mortgage averaged 4.14%, while it was at 4.46% at this time last year.
Image via Twitter/FreddieMac
The United States economy took a turn for the worse in the first quarter of 2014, falling 2.9%.
It is the first time the economy has shrunk since 2011, and it is the worst drop since 2009.
Job growth, however, remains at steady growth.
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According to officials, Advance Auto Parts will be employing 600 workers in North Carolina by the end of 2017.
Average pay for workers will be around $110,000 per year, and Governor of North Carolina says that the company could get over $17 million in tax breaks.
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In recent weeks the stock market has been inching higher in an orderly and contained way.
The listless environment has left active-trader clients sitting and waiting for something to respond to.
Low volatility has been often reflected as a calm before a storm. There is unease among traders because they don’t know what to fear.
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The Senate Republicans have blocked legislation toward student loan forgiveness.
The legislation would have allowed students to refinance their loans at lower rates to give them some debt relief.
There was a 56-30 vote on the legislation.
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After the economy “got off to a bumpy start,” the World Bank has cut its global growth forecast.
The United States forecast has been dropped from 2.8% to 2.1% while 2015 remains unchanged.
The World Bank does believe, however, that “growth is expected to pick up speed as the year progresses.”
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Colorado Governor John Hickenlooper signed legislation proposing to create a financial bank for the newly legal marijuana business in the state.
Banks do not currently work with marijuana businesses, as the drug is stilled banned by federal law. The new legislation would put in place checking systems so that marijuana businesses do not have to only deal in cash.
Image by World Economic Forum via Wikimedia Commons.
Agnik is a Big Data analytics company assisting mostly in the insurance and automotive industries.
The company has recently announced that it has partnered with Liberty Mutual Insurance, giving its customers savings on Liberty Mutual home and auto insurance.
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A study by the Colorado Hospital Association shows that hospitals are saving millions in states that have expanded Medicaid coverage under the Affordable Care Act.
On average, in states that expanded coverage, there was a $0.9 million decrease in charity care cost. In states that did not expand, charity care cost increased by $0.4 million on average.
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