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The Conference Board Consumer Confidence Index™ Plummets Further in February 2009

added: 25-02-2009

The Conference Board Consumer Confidence Index™, which had decreased moderately in January, declined in February, reaching yet another all-time low. The Index now stands at 25.0 (1985=100), down from 37.4 in January. The Present Situation Index declined to 21.2 from 29.7 last month. The Expectations Index decreased to 27.5 from 42.5 in January.

Economic Stimulus Bill Raises Reverse Mortgage Loan Limit

added: 25-02-2009

The Economic Stimulus Bill signed recently by President Obama provides even more of America's seniors with the opportunity to benefit from a reverse mortgage. The new bill will raise the HECM loan limits to 150 percent of the Freddie Mac loan limit. Currently, that would create a HECM loan limit of $625,500, helping older Americans access even more of the equity available in their homes to augment retirement incomes or offset investment losses.

Fitch: 30% of UK Repossessions from Non-Conforming Mortgages

added: 25-02-2009

Fitch Ratings said that approximately 30% of all repossessions in the UK during 2008 came from defaults of non-conforming borrowers, despite this sector comprising under 10% of the entire UK mortgage market.

Economic Concerns and Gas Prices Keep Consumers Driving Less

added: 25-02-2009

Consumers’ economic concerns and uncertainty about the future of gas prices are contributing to declines in miles driven, even though gasoline prices have declined sharply from last summer's historic highs. According to recent survey conducted by The NPD Group, 56 percent of consumers surveyed say they are driving less.

Fitch: Latvia's Government Collapse Heightens Execution Risk to IMF Programme

added: 25-02-2009

Fitch Ratings says that the collapse of Latvia's coalition government on 20 February 2009 could delay the adoption of budget amendments to maintain Latvia's budget deficit at 5% of GDP, as required by the IMF under a EUR7.5bn loan programme agreed in December 2008. Furthermore, Fitch believes that a failure to maintain budget controls could delay the disbursement of international funds to Latvia, and lead to renewed pressure on Latvia's currency.

Companies Could be Losing More Than $5,000 Per Employee Per Year by Not Addressing Inefficient Communication Issues

added: 25-02-2009

Communications barriers and latencies can cost small and medium businesses up to 40 percent of their productive time, according to a Siemens-sponsored global study.

What US Consumers Want From Mobile Phone?

added: 25-02-2009

According to the results of a poll conducted by GetJar, the world’s leading independent app store, ease of use, brand and embedded content are the top three features that U.S. consumers consider when choosing a new mobile phone. Mobile handset features like touch screen, overall phone design and memory rank lower on the list of purchase-deciding factors in the U.S.

30-Year Mortgage Rates Stay Steady Despite Housing Plan News

added: 25-02-2009

Although President Obama announced a sweeping Homeowner Affordability and Stability Plan, the weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for thirty-year mortgages remained steady last week at 5.25 percent, up slightly from 5.23 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®.

Nationally, Home Price Declines Closed Out 2008 with Record Lows According to the S&P/Case-Shiller Home Prices Indices

added: 24-02-2009

Data through December 2008, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the prices of existing single family homes across the United States continue to set record declines, a trend that prevailed throughout all of 2007 and 2008.

Fitch: Rating Headroom to Weaken in European Luxury Goods Sector in 2009

added: 24-02-2009

Fitch Ratings says that against a backdrop of declining disposable income and consumer confidence, larger European luxury goods and above-premium alcoholic beverages and cosmetics companies are likely to be cushioned from these effects by balanced capital structures and healthy legacy profit margins and cash flow generation. Conversely, Fitch expects smaller companies, typically characterised by lower product or geographical diversification and more limited financial flexibility, to be more negatively impacted by the current economic downturn.

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