Tax credit available to first-time home buyers in RI ( Admin posted on July 31st, 2014 )


A new tax credit program announced Tuesday will help first-time home buyers in Rhode Island.

The program gives first-timers a credit of up to $2,000 a year on their federal taxes, for the life of the mortgage, as long as theyre living in the home.

Rhode Island Housing said theres enough money in the program to help about 500 home buyers.

About 20 local lenders are participating in the program.

New Tax Credit Program Aimed At Encouraging First Time Home Buyers ( Admin posted on July 31st, 2014 )

Rhode Island Housing Director Richard Godfreys at the event launching the program offering tax credits to first time home buyers.

Reserve requirement of Brazil banks eased to boost economy ( Admin posted on July 30th, 2014 )

Reserve requirement of Brazil banks eased to boost economy

Big News Network.comFriday 25th July, 2014

SAO PAULO – Brazils central bank Friday announced plans to ease banks reserve requirements, freeing up $13 billion (R$30 billion) to stimulate lending and boost the economy facing twin challenges of sluggish growth for the fourth year and persistent high inflation.

The new measures, which aim to ease lending rules to help small businesses, come as leftist President Dilma Rousseff prepares to seek a second four year term in the October elections.

The central bank decided to adopt measures to improve the distribution of liquidity in the economy, the bank said.


Let’s Steel Ourselves for the Economics of the “Second Machine Age” ( Admin posted on July 30th, 2014 )

Transatlantic cooperation, as strong and as fluid as it is has been defined throughout history, finds resilience in its loose framework. Post-Cold War, it has found its definition in the economic dominance of the United States and European Union.  But in light of recent events in Ukraine and along the Middle East borders, now more than ever we find common ground on the principles of democratic institutions, free markets and national sovereignty. The abiding trend of globalization has limited our available options as we defend these principles.

Economic sanctions for the trespasses in Ukraine are targeted and limited, in part, because of the feared economic blowback to those sanctions....

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Categories: Economics

Week ahead in business and economics: July 28-Aug 1 ( Admin posted on July 30th, 2014 )

Diageos full-year results will serve up another uncomfortable day of
questioning fo the firms chief executive Ivan Menezes, who took over from
the long-standing Paul Walsh last July, just as trading in emerging markets
took an unfortunate turn for the worse.

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Categories: Economics

NAB says mortgages well under control ( Admin posted on July 30th, 2014 )

Along with surging house prices, the rivalry between banks is raising concerns about a decline in lending standards in the $1.3 trillion mortgage market.

But, despite regulators warning about the risks of very cheap debt, NAB which has about 16 per cent of the mortgage market says the figures show households remain prudent in managing their debts. NABs executive general manager of lending and deposits, Antony Cahill, said customers were taking advantage of the record low interest rates by putting away extra income.

These are themes that point to the Australian consumer being a little bit more careful, a little bit more prudent in terms of understanding debt and ensuring they...

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Categories: Understanding Debt

Real World Economics: Good intentions made bad policy ( Admin posted on July 30th, 2014 )

If the current influx of minors from a few Central American countries teaches us anything, it is the wisdom of Robert Burns paraphrased argument that, The best laid schemes of mice and men oft go awry, and leave us nothing but grief and pain.

Well-intended US and international policies to reduce the horrors and injustices suffered by those fleeing political persecution or imminent peril may have been best laid plans when adopted. But the effects have been far from what was intended and often negative.

Right now we are focused on coping with a spate of children from Central America. But some European Union nations face near identical chronic problems of immigrants risking peril...

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Categories: Economics

What goes up can come down ( Admin posted on July 29th, 2014 )

Everybody wants a discount on car insurance. Why else would we watch the Esurance TV ads where a crazy lady in the beige turtleneck named Beatrice talks about how she shops for car insurance and how she posts vacation photos to her living room wall instead of mailing the photos to friends, all just to save money?

Sometimes, though, consumers dont realize all of the discounts they are eligible to receive. Would you expect a break because your car has daytime running lights? Maybe not, yet four of the top 10 insurers offer a discount for daytime running lights, based on a new survey by

Daytime running lights are a fairly common feature now. But you cant really count...

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Categories: Economics

8 big mistakes first-time homebuyers make ( Admin posted on July 29th, 2014 )

The housing market is hot, thanks to favorable interest rates and home prices that remain relatively low around much of the country.

According to the National Association of Realtors, pending home sales rose sharply in May, with lower mortgage rates and increased inventory pushing home sales upward in all four regions of the US

And as underwriters start to ease their standards–the secondary mortgage market is starting to come back for buyers with squeaky clean finances, according to John Barrentine, co-founder and CEO of RED Real Estate Group–industry experts are expecting the market to continue to make significant gains in the second half of the year.

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Categories: First Time Home Buyers

Creating equity versus debt ( Admin posted on July 29th, 2014 )

WASHINGTON, July 17, 2014 – Some of the biggest investments that people make are in their cars and in their homes. People want to own these items instead of being owned by them.

It’s tough for someone to financially plan, though, if they are in debt. And its a painful fact that homes and cars can create equity, they can also create more debt.

“As an individual consumer’s debt increases, it’s logical that he or she would want to reduce the cost of these major payments,” said Steve Bowman, Chief Credit Risk Officer at GM Financial. “One way to achieve this goal is to seek a more affordable car payment by extending the length of the auto...

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Categories: Automobile Finance