Personal Finance Daily: IRS has $1 billion in unclaimed tax refunds

Personal Finance Daily FEBRUARY 23, 2012 Thursday's Personal Finance Stories By MarketWatch Don't miss these top stories: Retro investing: Look back to get ahead How to know if you really beat the market Housing takes another step out of the cellar Fixed-rate mortgage rates rise, ARMs fall What it will take to bring back American jobs The IRS said today it's holding $1 billion in unclaimed tax refunds, owed to people who didn't file a return in 2008. I guess the good news is that, if those taxpayers don't claim the money — they have until April 17 this year to do so — then that's some revenue the government can use, to avoid cutting programs, or maybe to shore up Social Security and Medicare. It's basically a drop in the bucket, but every little bit helps, right? That said, if the money is yours, go get it! Find out more on this IRS page. So, do you think the housing market is in recovery mode, at last? Some recent data point to improvement, but, as Kathleen Madigan writes in her column today, the housing market is a long way from expansion mode. Read her story, plus get the latest on mortgage rates, and see our round-up of investing stories, including a look at how best to determine whether you're beating the market. — Andrea Coombes , Personal Finance editor Housing takes another step out of the cellar Housing looks to be climbing out of the sub-basement, but it's a long way from heading up the stairs to expansion, writes Kathleen Madigan. Housing takes another step out of the cellar. Fixed-rate mortgage rates rise, ARMs fall After three weeks of record lows, rates on 30-year fixed-rate mortgages rose this week, averaging 3.95%, according to Freddie Mac's weekly survey of conforming mortgage rates, released on Thursday. Fixed-rate mortgage rates rise, ARMs fall. INVESTING Retro investing: Look back to get ahead Break out the poodle skirts and crank up the Perry Como. It's often said that investors these days are navigating uncharted territory. The world's major economies are swamped by massive amounts of debt, the Federal Reserve has essentially locked interest rates at zero and the outlook for corporate profits is increasingly cloudy. Retro investing: Look back to get ahead. Simple index funds may be complicating the markets Index funds are often hailed for their low fees, solid performance and transparency. Could they also be destabilizing the markets—and undermining the very diversification they have long promised? Simple index funds may be complicating the markets. How to know if you really beat the market Active investing is a loser's game, says Mitch Tuchman, co-founder of ETF investors' service MarketRiders. But if you insist on owning actively-managed funds, ETF returns can provide a true picture of portfolio results. How to know if you really beat the market. Trend is your friend, until it's not Reversals in markets can be swift, but in the case of stocks this year, they've been worth the risk, writes David Callaway. Trend is your friend, until it's not. Great day for gold The bugs, and even some skeptics, think it could go even further Great day for gold. Canadian oil's quiet pipeline to the West Media attention is focused on Enbridge's proposed $5.5 billion Northern Gateway pipeline from Alberta to isolated Kitimat, B.C. But a quiet plan to expand an existing pipeline is flying under the radar. Canadian oil's quiet pipeline to the West. ECONOMY & POLITICS What it will take to bring back American jobs If we really want to bring back factory jobs lost to outsourcing, we'll have to radically change trade policies that make such outsourcing so profitable, writes Alan Tonelson. What it will take to bring back American jobs. Price of gasoline could determine Obama's fate President Barack Obama's political fortunes have improved right along with the economy, writes Rex Nutting. Republican candidates have been scrambling to find a different winning issue against the president. Price of gasoline could determine Obama's fate. U.S. jobless claims unchanged at 351,000 First-time applications for U.S. unemployment benefits are unchanged week to week, remaining at a level consistent with an improved jobs market. U.S. jobless claims unchanged at 351,000. German Ifo index jump defies recession worries A bigger-than-expected jump in the Ifo Institute's gauge of German business confidence this month will ease recession worries, economists say, a day after a round of weaker-than-expected purchasing managers indexes. German Ifo index jump defies recession worries. 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. 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