http://money.cnn.com/2006/12/06/real_estate/mortgage_apps
Mortgage applications rise as rates tumble. I’m hoping for rates to continue their trend down. My theory is that this might stabilize home prices for awhile. I’ve read a lot of articles that point out the trickle down effect of lackluster home sales. With fewer people buying homes, that also translates in to less consumer spending on all the items that a new homeowner needs.
Â
Some great personal finance questions and answers. I pity the guy that asked the first question, “If I sell my primary residence within one year of buying it, will I owe a capital gains tax?” Poor guy. He may be able to avoid some capital gains taxes if he’s moving for a new job at least 50 miles away, but that doesn’t help him with the amount of sales commissions and local taxes he might have to pay. Chances are, in this market, he’ll lose his shirt.
The last question is also interesting. The reader points out that she’s contributing 6% to her 401k and getting a 6% match from her employer. Her son has been telling her to contribute to a ROTH instead. The columnist points out that she’ll lose the match! That just goes to show you have to be careful who you listen to when it comes to financial advice. Just because there is a “know it all” in the room, doesn’t mean they know anything!
Â
http://www.easier.com/view/Finance/Credit_Cards/Balance_Transfer
This is alarming. This article states that over 4.2 million people in the UK still haven’t paid off their 2005 Christmas debt. If you are still paying on your 2005 Christmas debt, you should really consider your priorities and think about starting a new tradition of a less materialistic Christmas. Just my opinion.