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MoneyRates Top Stories
  • As Bond Interest Rates Fall, Will Mortgage Rates Follow?

    As the bond market reversed its trend recently and sent interest rates lower, it raised the possibility that mortgage rates could follow suit. Read More >>

    Posted 07/02/2009
  • Madoff Gets Prison Sentence of 150 Years

    Confessed investment scam artist Bernard Madoff has been sentenced to 150 years in Federal prison. Madoff's Ponzi scheme--taking new money from investors to pay returns to existing investors--ruined the financial lives of thousands of people with losses approaching $50 billion. The sentence was given with no possibility of parole. Madoff is 71 years old.

    Posted 07/01/2009
  • What Happens to Interest Rates if the U.S. Dollar Gets Hit By a "BRIC"

    Find out how actions of the "BRIC" countries could affect your savings accounts and certificates of deposit by pushing interest rates and inflation higher Read More >>

    Posted 06/29/2009
  • More Stimulus Money Not Needed, Says Top Obama Adviser

    With worries growing over massive government spending that could eventually lead to inflation, Barack Obama political adviser David Axelrod said that the $787 billion stimulus was enough for now, even though unemployment has not abated. Axelrod also noted that most of the stimulus money had not yet been spent.

    Posted 06/29/2009
  • U.S. Treasury Debt In Danger of Downgrade

    Famously bearish financial analyst Robert Prechter predicted that the lavish spending habits of the United States government will result in a steep decline in the perceived creditworthiness of the U.S. government. Prechter sees Treasury debt losing its AAA rating by the end of 2010, leading to higher interest rates across the board.

    Posted 06/25/2009
  • Federal Reserve Sees Economy on the Mend

    The Federal Reserve announced its view that certain areas of the economy, such as manufacturing, appear to be stabilizing or even improving. The Fed also proclaimed that the agency would not, as of now, continue pumping money into Treasury bonds in an effort to keep interest rates low.

    Posted 06/25/2009
  • Stock Market Pulls on World Bank Prediction

    Major U.S. stock indices dropped sharply in early Monday morning trading, with the Dow trading lower by 138 pionts and the Nasdaq off 2.5 percent. The decline followed a prediction by the World Bank that the world economy would shrink by 2.9 percent in 2009. The Dow briefly reached 9,000 in early June, but now sits at 8,408.

    Posted 06/25/2009
  • Where Poor Folks Bank: Their Phones

    According to Reuters, up to $5 billion in transactions will take place by way of mobile phone by the year 2012, with unbanked Africans leading the charge. What effect on traditional bank products such as CDs and money market accounts would adding another billion people to the banking system have? Reuters doesn't say.

    Posted 06/17/2009
  • Would Less Pay for Bankers Mean a Return to Conservative Banking?

    The Obama Administration and a Democrat-controlled Congress are discussing ways to limit "excessive compensation" at financial institutions. While what bankers get paid may not directly affect what banks pay on deposits, legislation in this area could signal a continuing shift towards conservative banking practices. Read More >>

    Posted 06/12/2009
  • Stick with Short-Term Certificates of deposit or Money Market and Savings Accounts if Inflation Starts to Rise

    While the case for rising inflation is mixed, it is a good idea not to lock in interest rates for too long if inflation may be on the rise. Read More >>

    Posted 06/12/2009
  • The Fed Issues Warning to Congress

    Federal Reserve Chairman Ben Bernanke has admonished Congress over rising deficits. The Fed's plan to keep mortgage rates low through the large scale purchase of mortgage securities and U.S. Treasuries has been faltering as long term interest rates continue to climb due to concerns over the $2 trillion budget deficit. Bernanke is calling on lawmakers to reduce the deficit in an effort to keep the Fed's mortgage rate plan stabilized.

    Posted 06/04/2009
  • General Motors Files Bankruptcy

    The nation's largest automaker, General Motors, filed for bankruptcy this week. The bankruptcy will be tantamount to a takeover, as the U.S. government will own close to 60% of the new company after committing a total of $50 billion to the automaker. The government will try to recapture their investment in GM in the near future, although for now U.S. taxpayers will foot the bill. The large cash outlay could put more upward pressure on interest rates.

    Posted 05/31/2009