DIY developers adore the $35 Raspberry Pi and huge communities have enabled the Linux-powered computer to do cool things like emulate Super Nintendo games and run Android 4.0 Ice Cream Sandwich. What’s next for the cheap computer? The Raspberry Pi Foundation announced it’s launching the “Pi Store” – an app store created in partnership with IndieCity and Velocix. Anyone will be able to download and upload their own apps to the Pi Store for consideration according to Raspberry Pi’s website. The Pi Store will have 23 free apps at launch as well as paid content. As with the success of the Raspberry Pi itself, the Pi Store’s success hinges on the community’s support.
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Is the Christmas card dead?
Labels: TechnologyAuthor Nina Burleigh says the holiday photo is dead — and the internet killed it
Every year around the holidays, countless Americans sit down at their dining room tables to thoughtfully scribble pen-and-paper updates about how they are and what they've been doing with their lives to a select number of friends. These messages are usually written on the back of a recent family photograph (sometimes with Santa hats), before they're sealed, stamped, and mailed around the country, where they're displayed like a trophy over someone else's fireplace.
Could that all be changing? This year, especially, there seems to be a dearth of dead-tree holiday cheer filling up mailboxes across the country. In a recent column for TIME, author Nina Burleigh says the spirit once distilled inside the Christmas card is dying, and a familiar, if fairly obvious perpetrator killed it: The internet. "There's little point to writing a Christmas update now, with boasts about grades and athletic prowess, hospitalizations and holidays, and the dog's mishaps, when we have already posted these events and so much more of our minutiae all year long," she writes. "The urge to share has already been well sated."
[Now] we already have real-time windows into the lives of people thousands of miles away. We already know exactly how they've fared in the past year, much more than could possibly be conveyed by any single Christmas card. If a child or grandchild has been born to a former colleague or high school chum living across the continent, not only did I see it within hours on Shutterfly or Instagram or Facebook, I might have seen him or her take his or her first steps on YouTube. If a job was gotten or lost, a marriage made or ended, we have already witnessed the woe and joy of it on Facebook, email and Twitter.
Burleigh says the demise of the Christmas card is deeply saddening. "It portends the end of the U.S. Postal Service," she writes. "It signals the day is near when writing on paper is non-existent." It's true, says Tony Seifart at Memeburn — "my mantle is empty this year. In fact I haven't received one Christmas card yet."
SEE ALSO: The perks and perils of our newly indexed society
Let's not get too nostalgic just yet, says Alexis Madrigal at The Atlantic. Research firm IBISWorld anticipates that purchases of cards and postage will be the highest it has been in five years — $3.17 billion total. And Hallmark, the industry's biggest player, has seen revenue hold steady since the early 2000s despite the financial crisis. We could also think about this another way: That desire to share, the willingness to inform, could just be extending itself beyond the physical form of the holiday photo.
No matter what time of the year, people now write contemplative letters with weird formatting to an ill-defined audience of "friends"; these are Christmas letters, whether Santa is coming down the chimney or not. There are reindeer horns on pugs in July. And humblebrags about promotions in April. There are dating updates in November. And you can disclose that you were voted mother of the year any damn day you please... For good or for ill, perhaps we're seeing not the death of the holiday card and letter, but its rebirth as a rhetorical mode. Confessional, self-promotional, hokey, charming, earnest, technically honest, introspective, hopey-changey: Oh, Christmas Card, you have gone open-source and conquered us all.
The spirit of the Christmas card is indeed alive and well. It's just not necessarily in a Christmas card.
Read More..
Every year around the holidays, countless Americans sit down at their dining room tables to thoughtfully scribble pen-and-paper updates about how they are and what they've been doing with their lives to a select number of friends. These messages are usually written on the back of a recent family photograph (sometimes with Santa hats), before they're sealed, stamped, and mailed around the country, where they're displayed like a trophy over someone else's fireplace.
Could that all be changing? This year, especially, there seems to be a dearth of dead-tree holiday cheer filling up mailboxes across the country. In a recent column for TIME, author Nina Burleigh says the spirit once distilled inside the Christmas card is dying, and a familiar, if fairly obvious perpetrator killed it: The internet. "There's little point to writing a Christmas update now, with boasts about grades and athletic prowess, hospitalizations and holidays, and the dog's mishaps, when we have already posted these events and so much more of our minutiae all year long," she writes. "The urge to share has already been well sated."
[Now] we already have real-time windows into the lives of people thousands of miles away. We already know exactly how they've fared in the past year, much more than could possibly be conveyed by any single Christmas card. If a child or grandchild has been born to a former colleague or high school chum living across the continent, not only did I see it within hours on Shutterfly or Instagram or Facebook, I might have seen him or her take his or her first steps on YouTube. If a job was gotten or lost, a marriage made or ended, we have already witnessed the woe and joy of it on Facebook, email and Twitter.
Burleigh says the demise of the Christmas card is deeply saddening. "It portends the end of the U.S. Postal Service," she writes. "It signals the day is near when writing on paper is non-existent." It's true, says Tony Seifart at Memeburn — "my mantle is empty this year. In fact I haven't received one Christmas card yet."
SEE ALSO: The perks and perils of our newly indexed society
Let's not get too nostalgic just yet, says Alexis Madrigal at The Atlantic. Research firm IBISWorld anticipates that purchases of cards and postage will be the highest it has been in five years — $3.17 billion total. And Hallmark, the industry's biggest player, has seen revenue hold steady since the early 2000s despite the financial crisis. We could also think about this another way: That desire to share, the willingness to inform, could just be extending itself beyond the physical form of the holiday photo.
No matter what time of the year, people now write contemplative letters with weird formatting to an ill-defined audience of "friends"; these are Christmas letters, whether Santa is coming down the chimney or not. There are reindeer horns on pugs in July. And humblebrags about promotions in April. There are dating updates in November. And you can disclose that you were voted mother of the year any damn day you please... For good or for ill, perhaps we're seeing not the death of the holiday card and letter, but its rebirth as a rhetorical mode. Confessional, self-promotional, hokey, charming, earnest, technically honest, introspective, hopey-changey: Oh, Christmas Card, you have gone open-source and conquered us all.
The spirit of the Christmas card is indeed alive and well. It's just not necessarily in a Christmas card.
Massive PC, Console Game Discounts Ring in Holiday Season
Labels: TechnologyBlack Friday, the day right after Thanksgiving, is normally the day associated with electronics sales. And while the proponents of "Cyber Monday" and "Small Business Saturday" have tried to get in on the action, it's still common knowledge that Thanksgiving weekend is the best time to upgrade your PC or console game arsenal. Right?
Not according to online game retailers. Discounts of up to 80 percent off a game's retail price are taking place across the web, especially in online stores which offer games in the form of digital downloads (which cost nothing to make extra copies of). Here's a look at just a few of the sales going on right now, for Windows and Linux PCs, Macs, game consoles, and mobile devices.
Steam (Windows, Linux, Mac)
The annual Steam Holiday Sale is under way, and it's not just blowing hot air. Complete collections of every Steam game from publishers including Valve are on sale for around the price of one retail title, and individual games can be bought from each bundle for only a few dollars. Each day new sales are available, and most of them are massive, percentage-wise. They're tied to a personal Steam account (which will always be linked to the original name they were created with), but can be bought as gifts for others.
Also check out: Amazon.com's PC download sales, many of which are fulfilled through Steam and are discounted about as much. Amazon's lineup also includes many casual games, of the "$10 store discount rack" variety.
Humble Indie Bundle 7 (Windows, Linux, Mac)
The Humble Bundle crew has been offering cross-platform, name-your-own-price bundles of indie games for several years now, and their seventh numbered offering is timed right for the holiday season. Bundles are giftable, the games can be played on Steam, and you can choose how much of your purchase price goes to game developers and how much goes to select charities.
PlayStation Network (PS3, PSP, Vita)
Console gamers aren't being left out. The PSN Holiday Essentials sale is putting "more than 40 titles" on sale over the next three weeks, with a new selection available every week and even lower prices available to PlayStation Plus members.
Also check out: The Xbox Live Countdown to 2013 sale, with a "Daily Deal" every day until the end of the year.
Other sales
Game publishers SEGA and Square-Enix are discounting many of their most popular titles. SEGA's holiday sale includes PSN, Xbox Live, Android and iOS titles, with most of its mobile games selling for $0.99. Meanwhile, the Square-Enix Winter of Mobile sale page lists huge discounts on iPhone and iPad games, while Android Police blogger Jeremiah Rice has put together a list of which Square-Enix Android games are on sale.
Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.
Read More..
Not according to online game retailers. Discounts of up to 80 percent off a game's retail price are taking place across the web, especially in online stores which offer games in the form of digital downloads (which cost nothing to make extra copies of). Here's a look at just a few of the sales going on right now, for Windows and Linux PCs, Macs, game consoles, and mobile devices.
Steam (Windows, Linux, Mac)
The annual Steam Holiday Sale is under way, and it's not just blowing hot air. Complete collections of every Steam game from publishers including Valve are on sale for around the price of one retail title, and individual games can be bought from each bundle for only a few dollars. Each day new sales are available, and most of them are massive, percentage-wise. They're tied to a personal Steam account (which will always be linked to the original name they were created with), but can be bought as gifts for others.
Also check out: Amazon.com's PC download sales, many of which are fulfilled through Steam and are discounted about as much. Amazon's lineup also includes many casual games, of the "$10 store discount rack" variety.
Humble Indie Bundle 7 (Windows, Linux, Mac)
The Humble Bundle crew has been offering cross-platform, name-your-own-price bundles of indie games for several years now, and their seventh numbered offering is timed right for the holiday season. Bundles are giftable, the games can be played on Steam, and you can choose how much of your purchase price goes to game developers and how much goes to select charities.
PlayStation Network (PS3, PSP, Vita)
Console gamers aren't being left out. The PSN Holiday Essentials sale is putting "more than 40 titles" on sale over the next three weeks, with a new selection available every week and even lower prices available to PlayStation Plus members.
Also check out: The Xbox Live Countdown to 2013 sale, with a "Daily Deal" every day until the end of the year.
Other sales
Game publishers SEGA and Square-Enix are discounting many of their most popular titles. SEGA's holiday sale includes PSN, Xbox Live, Android and iOS titles, with most of its mobile games selling for $0.99. Meanwhile, the Square-Enix Winter of Mobile sale page lists huge discounts on iPhone and iPad games, while Android Police blogger Jeremiah Rice has put together a list of which Square-Enix Android games are on sale.
Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.
Red Hat shares up on acquisition and 3Q results
Labels: TechnologyRed Hat Inc.'s shares jumped Friday on the software company's solid third-quarter results and plans to acquire cloud-based software company ManageIQ.
THE SPARK: Red Hat said late Thursday that it would buy privately held ManageIQ for $104 million in cash.
The Raleigh, N.C., company also reported that it earned 29 cents per share for its fiscal third quarter on an adjusted basis, up a penny from the prior year and in line with analyst expectations. Its revenue for the period increased 18 percent to $343.6 million, which beats the $338 million that analysts polled by FactSet had forecast.
THE BIG PICTURE: ManageIQ's software helps businesses deploy and manage private clouds. Red Hat said the deal will expand the reach of its public-private cloud setups for its customers. The acquisition is expected to have no material impact to Red Hat's revenue for its fiscal year ending in February.
THE ANALYSIS: Stifel Nicolaus analyst Brad R. Reback said that the company has been able to maintain momentum even in a difficult environment and he thinks the latest deal offers an interesting longer-term angle for its business. He thinks the company is well positioned to generate at least 15 to 20 percent billings growth in the future. He reiterated a "Buy" rating and a $65 price target on its shares.
SHARE ACTION: Shares gained $2.25, or more than 4 percent, to $54.86 in afternoon trading. Shares have traded between $39.19 and $62.75 in the past 52 weeks.
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THE SPARK: Red Hat said late Thursday that it would buy privately held ManageIQ for $104 million in cash.
The Raleigh, N.C., company also reported that it earned 29 cents per share for its fiscal third quarter on an adjusted basis, up a penny from the prior year and in line with analyst expectations. Its revenue for the period increased 18 percent to $343.6 million, which beats the $338 million that analysts polled by FactSet had forecast.
THE BIG PICTURE: ManageIQ's software helps businesses deploy and manage private clouds. Red Hat said the deal will expand the reach of its public-private cloud setups for its customers. The acquisition is expected to have no material impact to Red Hat's revenue for its fiscal year ending in February.
THE ANALYSIS: Stifel Nicolaus analyst Brad R. Reback said that the company has been able to maintain momentum even in a difficult environment and he thinks the latest deal offers an interesting longer-term angle for its business. He thinks the company is well positioned to generate at least 15 to 20 percent billings growth in the future. He reiterated a "Buy" rating and a $65 price target on its shares.
SHARE ACTION: Shares gained $2.25, or more than 4 percent, to $54.86 in afternoon trading. Shares have traded between $39.19 and $62.75 in the past 52 weeks.
Dozens of Android Games, Apps Discounted for Google Holiday Sale
Labels: TechnologyThe Google Play store -- that's the name of the Android "app store," or the "Android Market" for those of you new to the change -- is featuring dozens of game and app sales for Android smartphones and tablets. Well, actually, it's not; you can see some of the discounted apps on the front page, but there's no special section of the website or on-device market that says where the ones on sale are, or even how to find them. And the "Holiday Surprise" feature is only a handful of deals picked by Google itself.
Here's a look at some of the major game publishers' Android sales, along with discounted creativity apps and where to find more details.
Gameloft's "Android Christmas" sale
It may be too late for Hanukkah this year, but top-tier Android publisher Gameloft has put a dozen of its titles up for sale for Christmas just $0.99 . These games are normally in the $5-7 range, making them among Android's priciest.
Besides its licensed games based on movies -- like superhero films "The Dark Knight Rises" and "The Amazing Spider-Man," and (inexplicably) "The Adventures of Tintin" -- Gameloft is best known for creating mobile versions of popular PC and console games. Not in the sense that they are official ports, so much as that they're remarkably similar, to the extent that they arguably could be official ports if the serial numbers were filed off. With that in mind, several of its Modern Combat (which are totally not Modern Warfare) and N.O.V.A. first-person shooters (which are totally not Halo) are included in the sale, although the most recent installment of the former -- Modern Combat 4 -- is not.
Superhero fans may also want to check out Marvel Games' Avengers Initiative, which isn't a Gameloft title but is also on sale for $0.99 .
Square-Enix's "Winter of Mobile" sale
Best known for having invented the jRPG genre, Square-Enix has brought several of its most popular titles to Android, and most of them are discounted (from their extremely high launch prices) for the holidays.
Crystal Defender, Chrono Trigger, and Final Fantasy have all received numerous 1-star reviews on Google Play for technical issues, and reviewers complain that the titles haven't been optimized for Android hardware. The Chaos Rings titles, however, fare much better with reviewers, and are much more steeply discounted as well, at $3.99 each compared to their usual price of $12.99. They're ports of the iOS originals, which were Square-Enix's first attempts at making "real" jRPGs for mobile devices.
SEGA's Holiday Sale
SEGA's games are on sale for the holidays across the board, on pretty much every platform. On Android, that mostly amounts to Sonic 4 (episodes 1 and 2) and Sonic CD, all of which are on sale for $0.99 . Strategy title Total War Battles and rollerblade platformer Jet Set Radio, meanwhile, are on sale for $1.99.
Creativity / productivity apps on sale
Android phones and tablets aren't just for gaming. If you didn't pick up Microsoft Office-compatible OfficeSuite Pro 6+ during Google's earlier $0.25 sale, it's discounted to $0.99 now from its regular price of $14.99. Autodesk's professional drawing apps, SketchBook Mobile and SketchBook Pro for Tablets, are $0.99 and $2.99 compared to $1.99 and $4.99 regularly, and the Jotter handwriting app -- which requires a Samsung Galaxy Note -- is half-off at $1.99.
Stay up to date
Many more Android games and apps are being discounted for the holidays. Apps such as (the aptly-named) AppSales can help keep you apprised of the latest additions. Meanwhile, the Android Police blog is maintaining an up-to-date "Enormous List" of all holiday sales.
Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.
Read More..
Here's a look at some of the major game publishers' Android sales, along with discounted creativity apps and where to find more details.
Gameloft's "Android Christmas" sale
It may be too late for Hanukkah this year, but top-tier Android publisher Gameloft has put a dozen of its titles up for sale for Christmas just $0.99 . These games are normally in the $5-7 range, making them among Android's priciest.
Besides its licensed games based on movies -- like superhero films "The Dark Knight Rises" and "The Amazing Spider-Man," and (inexplicably) "The Adventures of Tintin" -- Gameloft is best known for creating mobile versions of popular PC and console games. Not in the sense that they are official ports, so much as that they're remarkably similar, to the extent that they arguably could be official ports if the serial numbers were filed off. With that in mind, several of its Modern Combat (which are totally not Modern Warfare) and N.O.V.A. first-person shooters (which are totally not Halo) are included in the sale, although the most recent installment of the former -- Modern Combat 4 -- is not.
Superhero fans may also want to check out Marvel Games' Avengers Initiative, which isn't a Gameloft title but is also on sale for $0.99 .
Square-Enix's "Winter of Mobile" sale
Best known for having invented the jRPG genre, Square-Enix has brought several of its most popular titles to Android, and most of them are discounted (from their extremely high launch prices) for the holidays.
Crystal Defender, Chrono Trigger, and Final Fantasy have all received numerous 1-star reviews on Google Play for technical issues, and reviewers complain that the titles haven't been optimized for Android hardware. The Chaos Rings titles, however, fare much better with reviewers, and are much more steeply discounted as well, at $3.99 each compared to their usual price of $12.99. They're ports of the iOS originals, which were Square-Enix's first attempts at making "real" jRPGs for mobile devices.
SEGA's Holiday Sale
SEGA's games are on sale for the holidays across the board, on pretty much every platform. On Android, that mostly amounts to Sonic 4 (episodes 1 and 2) and Sonic CD, all of which are on sale for $0.99 . Strategy title Total War Battles and rollerblade platformer Jet Set Radio, meanwhile, are on sale for $1.99.
Creativity / productivity apps on sale
Android phones and tablets aren't just for gaming. If you didn't pick up Microsoft Office-compatible OfficeSuite Pro 6+ during Google's earlier $0.25 sale, it's discounted to $0.99 now from its regular price of $14.99. Autodesk's professional drawing apps, SketchBook Mobile and SketchBook Pro for Tablets, are $0.99 and $2.99 compared to $1.99 and $4.99 regularly, and the Jotter handwriting app -- which requires a Samsung Galaxy Note -- is half-off at $1.99.
Stay up to date
Many more Android games and apps are being discounted for the holidays. Apps such as (the aptly-named) AppSales can help keep you apprised of the latest additions. Meanwhile, the Android Police blog is maintaining an up-to-date "Enormous List" of all holiday sales.
Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.
US fixed mortgage rates fall to new record lows
Labels: Business Fixed U.S. mortgage rates fell again to new record lows, providing prospective buyers with more incentive to brave a modestly recovering housing market.
Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan dropped to 3.62 percent. That's down from 3.66 percent last week and the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year mortgage, a popular refinancing option, slipped to 2.89 percent, below last week's previous record of 2.94 percent.
The rate on the 30-year loan has fallen to or matched record low levels in 10 of the past 11 weeks. And it's been below 4 percent since December.
Cheap mortgages have provided a lift to the long-suffering housing market. Sales of new and previously occupied homes are up from the same time last year. Home prices are rising in most markets. And homebuilders are starting more projects and spending at a faster pace.
The number of people who signed contracts to buy previously occupied homes rose in May, matching the fastest pace in two years, the National Association of Realtors reported last week. That suggests Americans are growing more confident in the market.
Low rates could also provide some help to the economy if more people refinance. When people refinance at lower rates, they pay less interest on their loans and have more money to spend. Many homeowners use the savings on renovations, furniture, appliances and other improvements, which help drive growth.
Still, the pace of home sales remains well below healthy levels. Many people are still having difficulty qualifying for home loans or can't afford larger down payments required by banks.
And the sluggish job market could deter some would-be buyers from making a purchase this year. The U.S. economy created only 69,000 jobs in May, the fewest in a year. The unemployment rate rose to 8.2 percent last month, up from 8.1 percent in April.
The government reports Friday on June employment.
Mortgage rates have been dropping because they tend to track the yield on the 10-year Treasury note. A weaker U.S. economy and uncertainty about how Europe will resolve its debt crisis have led investors to buy more Treasury securities, which are considered safe investments. As demand for Treasurys increase, the yield falls.
To calculate average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
The average does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for 30-year loans was 0.8 point, up from 0.7 percent last week. The fee for 15-year loans also was 0.7 point, unchanged from the previous week.
The average rate on one-year adjustable rate mortgages fell to 2.68 percent, down from 2.74 percent last week. The fee for one-year adjustable rate loans rose to 0.5 point, up from 0.4 point.
The average rate on five-year adjustable rate mortgages was unchanged at 2.79 percent. The fee stayed at 0.6 point.
Read More..
Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan dropped to 3.62 percent. That's down from 3.66 percent last week and the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year mortgage, a popular refinancing option, slipped to 2.89 percent, below last week's previous record of 2.94 percent.
The rate on the 30-year loan has fallen to or matched record low levels in 10 of the past 11 weeks. And it's been below 4 percent since December.
Cheap mortgages have provided a lift to the long-suffering housing market. Sales of new and previously occupied homes are up from the same time last year. Home prices are rising in most markets. And homebuilders are starting more projects and spending at a faster pace.
The number of people who signed contracts to buy previously occupied homes rose in May, matching the fastest pace in two years, the National Association of Realtors reported last week. That suggests Americans are growing more confident in the market.
Low rates could also provide some help to the economy if more people refinance. When people refinance at lower rates, they pay less interest on their loans and have more money to spend. Many homeowners use the savings on renovations, furniture, appliances and other improvements, which help drive growth.
Still, the pace of home sales remains well below healthy levels. Many people are still having difficulty qualifying for home loans or can't afford larger down payments required by banks.
And the sluggish job market could deter some would-be buyers from making a purchase this year. The U.S. economy created only 69,000 jobs in May, the fewest in a year. The unemployment rate rose to 8.2 percent last month, up from 8.1 percent in April.
The government reports Friday on June employment.
Mortgage rates have been dropping because they tend to track the yield on the 10-year Treasury note. A weaker U.S. economy and uncertainty about how Europe will resolve its debt crisis have led investors to buy more Treasury securities, which are considered safe investments. As demand for Treasurys increase, the yield falls.
To calculate average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
The average does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for 30-year loans was 0.8 point, up from 0.7 percent last week. The fee for 15-year loans also was 0.7 point, unchanged from the previous week.
The average rate on one-year adjustable rate mortgages fell to 2.68 percent, down from 2.74 percent last week. The fee for one-year adjustable rate loans rose to 0.5 point, up from 0.4 point.
The average rate on five-year adjustable rate mortgages was unchanged at 2.79 percent. The fee stayed at 0.6 point.
W.Va. teachers to attend 'Finance University'
Labels: Business West Virginia University's business school is teaming up with the state auditor's office and a nonprofit economic literacy group called the West Virginia Jump$start Coalition to present a conference for educators to learn personal finance — and how to teach it to their students.
This year's Finance University is the 10th annual event for middle- and high-school teachers. It will be held Monday through Friday at the Charleston Conference Center.
Conference organizers say that participants will take a course to prepare for teaching their students personal-finance topics, including credit-card use, saving and investing, insurance, retirement plans, and more. Fifteen financial experts also are expected to give presentations.
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This year's Finance University is the 10th annual event for middle- and high-school teachers. It will be held Monday through Friday at the Charleston Conference Center.
Conference organizers say that participants will take a course to prepare for teaching their students personal-finance topics, including credit-card use, saving and investing, insurance, retirement plans, and more. Fifteen financial experts also are expected to give presentations.
Average on 30-year US mortgage stays at 3.55 pct.
Labels: BusinessThe average rate on the 30-year fixed mortgage held steady this week, staying slightly above the lowest level on record. Low mortgage rates have aided a modest housing recovery.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan was unchanged at 3.55 percent. In July, the rate fell to 3.49 percent, the lowest since long-term mortgages began in the 1950s.
The average on the 15-year fixed mortgage, a popular refinancing option, slipped to 2.85 percent, down from 2.86 percent last week. That's above the record low of 2.80 percent.
Cheap mortgages have helped lift the housing market. Sales of new and previously occupied homes are well above last year's levels. Low rates have also allowed people to refinance, which lowers monthly mortgage payments and helps boosts consumer spending.
Home prices are increasing more consistently this year, largely because the supply of homes has shrunk while sales have risen. And the number of Americans who owe more on their mortgages than their homes are worth declined in the second quarter.
Still, the housing market has a long way back. Home sales are below healthy levels. And many people are still having difficulty qualifying for home loans or can't afford larger down payments required by banks.
Mortgage rates are low because they tend to track the yield on the 10-year Treasury note. A weaker U.S. economy and uncertainty about how Europe will resolve its debt crisis have led investors to buy more Treasury securities, which are considered safe investments. As demand for Treasurys increase, the yield falls.
To calculate average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
The average does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for 30-year loans was 0.6 point, down from 0.7 point last week. The fee for 15-year loans was changed at 0.6.
The average rate on one-year adjustable rate mortgages was steady at 2.61 percent. The fee for one-year adjustable rate loans also was unchanged, at 0.4 point.
The average rate on five-year adjustable rate mortgages fell to 2.72 percent from 2.75 percent. The fee declined to 0.6 point from 0.7.
Read More..
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan was unchanged at 3.55 percent. In July, the rate fell to 3.49 percent, the lowest since long-term mortgages began in the 1950s.
The average on the 15-year fixed mortgage, a popular refinancing option, slipped to 2.85 percent, down from 2.86 percent last week. That's above the record low of 2.80 percent.
Cheap mortgages have helped lift the housing market. Sales of new and previously occupied homes are well above last year's levels. Low rates have also allowed people to refinance, which lowers monthly mortgage payments and helps boosts consumer spending.
Home prices are increasing more consistently this year, largely because the supply of homes has shrunk while sales have risen. And the number of Americans who owe more on their mortgages than their homes are worth declined in the second quarter.
Still, the housing market has a long way back. Home sales are below healthy levels. And many people are still having difficulty qualifying for home loans or can't afford larger down payments required by banks.
Mortgage rates are low because they tend to track the yield on the 10-year Treasury note. A weaker U.S. economy and uncertainty about how Europe will resolve its debt crisis have led investors to buy more Treasury securities, which are considered safe investments. As demand for Treasurys increase, the yield falls.
To calculate average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
The average does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for 30-year loans was 0.6 point, down from 0.7 point last week. The fee for 15-year loans was changed at 0.6.
The average rate on one-year adjustable rate mortgages was steady at 2.61 percent. The fee for one-year adjustable rate loans also was unchanged, at 0.4 point.
The average rate on five-year adjustable rate mortgages fell to 2.72 percent from 2.75 percent. The fee declined to 0.6 point from 0.7.
Ahead of the Bell: Weekly mortgage rates
Labels: BusinessLoan buyer Freddie Mac reports Thursday on whether mortgage rates are continuing to hold near recent low rates.
Last week the average rate on the 30-year fixed mortgage held steady at 3.55 percent, slightly above the record low of 3.49 percent that was reached in July. Meanwhile, the average rate on the 15-year fixed mortgage, a popular refinancing option, dipped to 2.85 percent from 2.86 percent.
Cheap mortgages have helped the housing market recover this year. Sales of new and previously occupied homes are well above last year's levels.
Home prices are increasing more consistently this year, largely because the supply of homes has shrunk while sales have risen. And the number of Americans who owe more on their mortgages than their homes are worth declined in the second quarter.
Still, the housing market has a long way back. Home sales are below healthy levels. And many people are still having difficulty qualifying for home loans or can't afford larger down payments required by banks.
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Last week the average rate on the 30-year fixed mortgage held steady at 3.55 percent, slightly above the record low of 3.49 percent that was reached in July. Meanwhile, the average rate on the 15-year fixed mortgage, a popular refinancing option, dipped to 2.85 percent from 2.86 percent.
Cheap mortgages have helped the housing market recover this year. Sales of new and previously occupied homes are well above last year's levels.
Home prices are increasing more consistently this year, largely because the supply of homes has shrunk while sales have risen. And the number of Americans who owe more on their mortgages than their homes are worth declined in the second quarter.
Still, the housing market has a long way back. Home sales are below healthy levels. And many people are still having difficulty qualifying for home loans or can't afford larger down payments required by banks.
Rate on 30-year mortgage hits record low 3.40 pct.
Labels: BusinessAverage U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.40 percent. That's down from last week's rate of 3.49 percent, which was the lowest since long-term mortgages began in the 1950s.
The average on the 15-year fixed mortgage, a popular refinancing option, fell to 2.73 percent, down from the record low of 2.77 percent last week.
The Fed is spending $40 billion a month to buy mortgage-backed securities. The goal is to lower mortgage rates and help the housing recovery. Fed Chairman Ben Bernanke says the program will continue until there is substantial improvement in the job market.
Some economists expect mortgage rates to fall even further because of the Fed's bond purchases.
The housing market already is benefiting from the lowest mortgage rates on record. Sales of both previously occupied and newly built homes in the U.S. are up from last year. Home prices are rising more consistently. And builders are more confident in the market and are starting to build more homes.
The broader economy is also likely to benefit from a revival in the housing market. When home prices rise, Americans typically feel wealthier and spend more.
Still, the housing market has a long way back. Sales and construction rates remain below healthy levels.
And some economists question whether lower rates will make much of a difference. The average rate on the 30-year fixed mortgage has been below 4 percent since early December. So most people who can qualify have likely already taken advantage of the lower rates.
Many people who would like to refinance or buy a home can't because they fail to meet stricter lending requirements or don't have enough money to make a down payment.
To calculate average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
The average does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for 30-year loans was 0.6 point, unchanged from last week. The fee for 15-year loans also held steady at 0.6 point.
The average rate on one-year adjustable-rate mortgages dipped to 2.60 percent from 2.61 percent. The fee for one-year adjustable rate loans was unchanged at 0.4 point.
The average rate on five-year adjustable-rate mortgages fell to 2.71 percent from 2.76 percent. The fee remained at 0.6 point.
Read More..
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.40 percent. That's down from last week's rate of 3.49 percent, which was the lowest since long-term mortgages began in the 1950s.
The average on the 15-year fixed mortgage, a popular refinancing option, fell to 2.73 percent, down from the record low of 2.77 percent last week.
The Fed is spending $40 billion a month to buy mortgage-backed securities. The goal is to lower mortgage rates and help the housing recovery. Fed Chairman Ben Bernanke says the program will continue until there is substantial improvement in the job market.
Some economists expect mortgage rates to fall even further because of the Fed's bond purchases.
The housing market already is benefiting from the lowest mortgage rates on record. Sales of both previously occupied and newly built homes in the U.S. are up from last year. Home prices are rising more consistently. And builders are more confident in the market and are starting to build more homes.
The broader economy is also likely to benefit from a revival in the housing market. When home prices rise, Americans typically feel wealthier and spend more.
Still, the housing market has a long way back. Sales and construction rates remain below healthy levels.
And some economists question whether lower rates will make much of a difference. The average rate on the 30-year fixed mortgage has been below 4 percent since early December. So most people who can qualify have likely already taken advantage of the lower rates.
Many people who would like to refinance or buy a home can't because they fail to meet stricter lending requirements or don't have enough money to make a down payment.
To calculate average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
The average does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for 30-year loans was 0.6 point, unchanged from last week. The fee for 15-year loans also held steady at 0.6 point.
The average rate on one-year adjustable-rate mortgages dipped to 2.60 percent from 2.61 percent. The fee for one-year adjustable rate loans was unchanged at 0.4 point.
The average rate on five-year adjustable-rate mortgages fell to 2.71 percent from 2.76 percent. The fee remained at 0.6 point.
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