Personal Finance

"The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week, pushed down by an aggressive government campaign to reduce borrowing costs. The rate, published Thursday by Freddie Mac, is the lowest since the mortgage finance company began tracking the data in 1971. The previous record of 4.78 percent was set during the week ending April 30 and matched last week." - LANjackal from Bookmarklet

"The Reid bill also assaults health savings accounts, or HSAs, which allow individuals to accumulate tax-free funds for future medical expenses when coupled with low-premium, high-deductible insurance. The Reid bill changes tax provisions to make HSAs less attractive, but the real threat comes via increased regulation. These insurance products will likely be barred from the insurance "exchanges" that will demolish and supplant today's individual market. Employers will also find them more difficult if not illegal to offer once the government has new powers to "define the essential health benefits" that all plans must eventually offer. Plans that focus mainly on catastrophic health expenses, instead of routine procedures, aren't generous enough for Democrats." - LANjackal from Bookmarklet

"Capitalism is still alive and well, say the world's two richest men, despite lingering shocks from the longest, deepest recession since the Great Depression. "The financial panic is behind us," said famed investor Warren Buffett, who recently made what he called an "all-in wager" on the U.S. economy by acquiring railroad Burlington Northern Santa Fe. "The bottom has come in stocks. Don't pass on something that's attractive today."" - LANjackal from Bookmarklet

#notetoself look up webcast of this talk - Maхx Tee

"Finance professionals have been using Mathematica for years to optimize portfolios, develop and refine analytic risk models, rapidly prototype products and trading strategies, deploy analysis tools over the web, and much more." - Judah Richardson from Bookmarklet

"The number of contracts to buy previously owned homes in the U.S. rose in September for an eighth straight month as Americans rushed to meet a deadline for a home-buyer tax credit. The index of signed purchase agreements, or pending home sales, rose 6.1 percent after a 6.4 percent gain in August, the National Association of Realtors said in Washington. Compared with a year earlier, pending sales rose 19.8 percent, without adjusting for seasonal variations. Many buyers accelerated purchases of new homes to take advantage of the $8,000 tax credit before it expires Nov. 30. Foreclosure-driven price declines and low mortgage rates have also pushed sales up this year." - LANjackal from Bookmarklet

"Racing to complete their purchases before a tax credit for first-time owners expires, homebuyers pushed sales up last month by the largest amount in more than 26 years." - LANjackal from Bookmarklet

"Better-than-expected results from Travelers, AT&T, McDonald's and 3M push the Dow past 10,000 again, sparking a bigger rally." - LANjackal from Bookmarklet

"McDonald’s Corp., the world’s largest restaurant company, jumped the most in five weeks in New York trading after third-quarter profit and global comparable sales rose more than analysts estimated. McDonald’s climbed $1.17, or 2 percent, to $59.50 at 4 p.m. in New York Stock Exchange composite trading in the biggest gain since Sept. 16. It has declined 4.3 percent this year. Sales at restaurants open at least 13 months rose 3.8 percent, the Oak Brook, Illinois-based company said today in a statement. Analysts projected a rise of 2.9 percent, the average of four estimates compiled by Bloomberg." - LANjackal from Bookmarklet

"Investors are seeing the kind of earnings numbers that make them feel confident about stocks. The stock market stepped to new highs for the year Monday after a handful of earnings reports bolstered hopes that the economy is coming back sooner than many analysts had thought." - LANjackal from Bookmarklet

"After the close, Google reported a third-quarter profit that topped estimates, sending shares 2% higher. The Dow Jones industrial average (INDU) gained 47 points, or 0.5% according to early tallies, ending above 10,000 for the second session in a row. The Dow is currently at its highest point since Oct. 3, 2008, when it closed at 10,325.38. The S&P 500 (SPX) index edged up 4 points, or 0.4%, and the Nasdaq composite (COMP) was barely higher." - LANjackal from Bookmarklet

How can you not like breaking a significant barrier like that! - manielse (Mark Nielsen)

"U.S. stocks rallied, sending the Dow Jones Industrial Average above 10,000 for the first time in a year, on better-than-estimated earnings at JPMorgan Chase & Co. and Intel Corp." - LANjackal from Bookmarklet

Excellent... - ‘-.-’ Tutivillus Grift