 Personal Finance Daily FEBRUARY 09, 2012 Thursday's Personal Finance StoriesBy MarketWatch
First, the 30-year-fixed mortgage rate held the record low it hit a week ago — 3.87% — while average interest rates on the 15-year-fixed mortgage and other loan products inched higher in response to positive job-market news for January, according to Freddie Mac's latest survey of conforming mortgage rates. Reporting from the International Builders' show in Florida, MarketWatch Editor Steve Kerch says that despite the beating that home prices have taken over the past five years, Americans are still optimistic about their own housing situation, a new poll shows. And in his retirement column today, Robert Powell reports on another interesting study that shows many older Americans are using their home equity to boost tax-deferred savings, such as 401(k) investments. By using the home mortgage interest tax deduction, they're benefiting on both sides of the tax code. It's an intriguing way to leverage home equity, Bob writes, but there are risks along with the potential rewards. — Anne Stanley , Managing Editor, Personal Finance Rate on 30-year-fixed mortgage holds at record low The 30-year-fixed mortgage rate holds the line at the record low it hit a week ago, while average interest rates on the 15-year fixed-rate mortgage and other loan products inch higher in response to positive job-market news. Read more: Rate on 30-year fixed mortgage holds at record low. Boomers turn home equity into 401(k) funds Some boomers are tapping their home equity and investing the money in tax-deferred accounts. There are risks and rewards to this sort of leveraging strategy. Read more: Boomers turn home equity into 401(k) funds. Americans still sold on homeownership Seventy-eight percent of Americans identified as likely to vote in the 2012 presidential election said that owning their own home was one of the most important things in their lives, according to the survey by Lake Research Partners done for the National Association of Home Builders. Read more: Americans still sold on homeownership. What you'll get in the foreclosure deal Count banks, foreclosed home owners and state attorneys general among the settlement's big winners. The losers? You can probably guess. Read more: What you'll get in the foreclosure deal. ECONOMY AND POLITICS House approves congressional insider trading bill The House of Representatives passes overwhelmingly legislation to curtail insider trading of securities by lawmakers and officials in the executive branch — including a provision inspired by an alleged trade made by the husband of House Democratic Leader Nancy Pelosi. Read more: House approves insider-trading bill. ECB mum on Greek bonds, eases collateral European Central Bank chief Mario Draghi says Greek political leaders have reached a deal on austerity measures but won't say whether the central bank will allow a restructuring of its holdings of Greek government bonds. Read more: ECB mum on Greek bonds. Banks, states reach $26 billion foreclosure deal After more than a year of negotiations, the biggest banks, states and federal authorities announce a settlement for more than $26 billion over foreclosure practices. Read more: Banks, states reach $26 billion foreclosure deal. Jobless claims in U.S. drop 15,000 to 358,000 The number of people applying for unemployment benefits fell again last week, supplying further proof the U.S. labor market continues to mend. Jobless claims dropped by 15,000 to a seasonally adjusted 358,000 in the week ended Feb. 4, Labor Department data show. That's near a four-year low. Read more: Jobless claims in U.S. drop 15,000. Bank of England adds another dose of QE The Bank of England, as expected, boosts the size of its quantitative-easing program by pledging to buy an additional 50 billion pounds of securities amid fears the British economy could stall out in the face of tighter credit conditions and the ongoing euro-zone debt crisis. Read more: Bank of England adds another dose of QE. China inflation heats up, casting doubt on policy China's consumer prices rise at a faster-than-expected rate in January, as food prices surged ahead of the Lunar New Year, sparking debate over what the numbers are really saying. Read more: China inflation heats up. INVESTING Bernanke's 2014 pledge sparks global shift In a classic example of unintended consequences, Federal Reserve chief Ben Bernanke's move to reassure markets by keeping interest rates low has instead sparked a stampede into global equities. Read more: Bernanke pledge sparks global shift. The insiders are selling heavily Corporate insiders are now selling their companies' stock at a rate not seen since late last July, a scary parallel for stock bulls, according to Mark Hulbert. Read more: The insiders are selling heavily. Is rumored Amazon shop a stalking horse? Rumors that Amazon.com is looking at opening up a boutique store in Seattle have spurred much speculation on what's really behind the e-tailer's move Read more: Is rumored Amazon shop a stalking horse? Get the latest news on our mobile site: http://www.marketwatch.com/m  MarketWatch has sent you this newsletter because you signed up to receive it. To ensure you receive this newsletter in the future, please add marketwatchmail.com to your list of approved senders. Sent to: kumaresan.selva.blogger@gmail.com Unsubscribe | Subscribe Copyright 2012 MarketWatch, Inc. All rights reserved. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. 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Thursday, February 9, 2012
Personal Finance Daily: Boomers leveraging their home equity
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