Money

Average U.S. 30-year Mortgage Rate at 4.28%

Filed under: Mortgages, Housing Market, Federal Reserve, Home Buying, Interest Rates Matt York/AP WASHINGTON — Average U.S. rates on fixed mortgages rose slightly this week, staying near three-month lows. Rates could fall next week now that lawmakers reached a deal to avert a possible government debt default. Mortgage buyer Freddie Mac says the average rate on the 30-year loan increased ...

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Jobless Ranks Fall, But Calif. Backlog Weighs on Data

Filed under: Labor, Job Market, Unemployment, Economy Craig Warga/Bloomberg via Getty Images WASHINGTON — The number of Americans filing new claims for unemployment benefits dropped from a six-month high last week, but remained elevated as California continued to deal with a backlog related to computer problems. Initial claims for state unemployment benefits fell 15,000 to a seasonally adjusted 358,000, the ...

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Money Minute: IBM Awaits Investor Reaction; Budget Deal Reopens Gov't

Filed under: Earnings, Market News, GDP, U.S. Government, Stocks What will investors focus on now that Congress has finally allowed the government to reopen? That’s one of seven money stories you need to know this Thursday. The crisis in Washington has been averted, at least for another few months, so investors can turn their attention back to the Federal Reserve, ...

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Video: Stocks surge on news of debt deal

October 17, 2013 4:53 AM Stocks are poised to continue their rally Thursday morning with the news of the end of the shutdown standoff. Charlie Rose reports. Powered by WPeMatico

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Video: Fortune magazine's "Most Powerful Women" revealed

October 10, 2013 8:24 AM Fortune’s editor-at-large Pattie Sellers talks to the “CBS This Morning” co-hosts about the magazine’s new issue spotlighting the most powerful women in business. Powered by WPeMatico

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Video: Yellen: "While we have made progress, we have farther to go"

October 10, 2013 5:18 AM President Obama nominated Janet Yellen to be the next head of the Federal Reserve. She would be the first woman to head the central bank if confirmed by the Senate. Norah O’Donnell reports. Powered by WPeMatico

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Video: Janet Yellen expected to be nominated to head Fed Reserve

October 9, 2013 4:33 AM President Obama is expected to nominate Janet Yellen to lead the Federal Reserve. CBS News’ senior business correspondent Anthony Mason joins the “CBS This Morning” co-hosts to discuss the expected selection of Yellen, who would be the first woman to lead the central bank. Powered by WPeMatico

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Video: Markets fall as potential financial crisis looms

October 8, 2013 4:36 AM The market has slowly declined in recent weeks and the Dow Jones dropped 136 points of Monday. Gillian Tett, Financial Times assistant editor and columnist, explains the effect of the government shutdown and the potential default on U.S. debt on the economy and American consumers. Powered by WPeMatico

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Making Money Amid the Chaos: Investing Tips for a Turbulent Market

Filed under: Investing Basics, Investing AP file, Peter Morgan While there is always some degree of turmoil ongoing in the markets, the last several months have been unusually disorderly. Investors are caught in the middle of a seemingly contradictory situation — economic tepidity and geopolitical anxieties mixed with a confusingly optimistic and upward-trending stock market. At the same time as ...

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Stocks Rise Sharply on Optimism for a Debt Deal

Filed under: Market News, U.S. Government, Treasury, Stocks, Investing Spencer Platt/Getty Images By STEVE ROTHWELL NEW YORK — The stock market surged in late morning trading as Washington closed in on a deal to avoid a default by the U.S. government. The Dow Jones industrial average (^DJI) spiked 200 points, or 1.3 percent, to 15,370 in midday trading shortly after ...

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