Business

Current Mortgage Rates Today – SunTrust and U.S. Bank make changes

Graph of 15-Year Rates

(Best Syndication News) Mortgage interest rates trended higher today as lenders adjusted their loan products to the changing benchmarks (see the mortgage rate charts below). Most lenders, including KeyBank, JPMorgan Chase, PNC and U.S. Bank, raised their rates, while SunTrust and Bank of America lowered them.

Benchmarks

Stock markets closed higher Wednesday on a light holiday trading day. Black Friday sales are starting earlier than ever this year, with many stores opening Thanksgiving evening. Wal-Mart, Sears, and K-Mart opened at 8pm while Target opened at 9pm.

Current Mortgage Rates Today – Citibank and Bank of America Raise Rates

Chart of VA Mortgage Rates

(Best Syndication News) Mortgage interest rates fell today as money flowed away from the government safe-havens (see the mortgage rate charts below). JPMorgan Chase, PNC, KeyBank, and U.S. Bank were among the lenders lowering their rates; however Citibank and Bank of America moved in the opposite direction.

Benchmarks

Federal Reserve Chairman Ben Bernanke said that lawmakers need to solve the fiscal-cliff issue before the December 31st deadline. The central bank doesn’t have enough tools to deal with another recession next year, according to the Fed Chair.

Current Mortgage Rates Today – KeyBank and PNC raise their loan rates

Graph of FHA mortgage rates

(Best Syndication News) Mortgage interest rates advanced today as investors were optimistic that fiscal cliff negotiations will be fruitful (see the mortgage rate charts below). JPMorgan Chase lowered their rate, but most banks, including KeyBank and PNC, raise their loan rates.

Benchmarks

Equity markets have been suffering from uncertainty surrounding the fiscal cliff – a series of tax increases and spending cuts that will occur if Congress and the Whitehouse fail to reach an agreement by December 31st 2012.

Cisco announces plan to buy Meraki for $1.2 Billion

Clouds - BSN

(Best Syndication News) - Cisco (NASDAQ: CSCO) announced that they are planning to buy Meraki, a cloud-networking company. The privately held company offers midmarket clients a solution to network with central management from a cloud. Meraki Inc., has its headquarter in San Francisco, California and more offices in New York, London, and Mexico.

Cisco wants to add Meraki because the IT Industry can take advantage of the mobile-cloud. The purchase of Meraki will help Cisco offer more software-centric solutions to ease management of company networks. The cloud networking expansion will help Cisco address customers who have a mobile workforce.

Kodak and CVS/pharmacy continue four-year partnership

Fortune cookie - BSN

(Best Syndication News) - Eastman Kodak Company announced that they would continue to have their photo kiosk services at CVS/pharmacy for four more years. There are 105,000 KODAK Picture Kiosks at various retail locations, according to Kodak’s Retail Systems Solutions (RSS) business. With 7,400 stores nationwide, CVS/pharmacy is the largest customer of the Kodak Retail Systems Solutions.

CVS Caremark Corporation (NYSE:CVS) has over 15,000 KODAK Picture Kiosks at their locations. Part of the new agreement includes CVS/pharmacy improving and adding the KODAK Adaptive Picture Exchange (APEX) dry lab systems. The new photo developing solution is more economical, which can increase profitability.

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