Business News

Current Mortgage Rates Today – SunTrust and U.S. Bank lower their loan rates

VA Mortgages

(Best Syndication News) Mortgage interest rates continued to fall today as secondary lenders adjusted to the shifting capital markets (see the mortgage rate charts below). JPMorgan Chase, SunTrust, Bank of America, and U.S. Bank were among the banks following a downward trend.

Benchmarks

Stocks nose-dived again as investors shifted their focus from Greece to the United States. The prospect of failed budget negotiations weighted heavy on equity markets.

2012 Cyber Monday Sales reach Record Numbers

Going up chart - BSN

(Best Syndication News) - IBM (NYSE: IBM) announced that Cyber Monday 2012 online sales grew by 30.3 percent compared to the same time last year. According to IBM's analysis, this was the biggest spending day ever seen online.

Jill Puleri, IBM Global Retail Leader, says more consumers spent more time shopping online on Thanksgiving Day. Consumers now use multiple devices at the same time, such as their mobile phone and their laptop. They now have tools to find the best prices for products, and they use social networking to tweet and blog about their purchases. Puleri said the big problem retailers faced this year was their brick-and-mortar stores were becoming the showroom. The consumer tries out the product at the store and then goes home to buy it online to save money.

Current Mortgage Rates Today – Loans lower at PNC and Citibank

FHA chart

(Best Syndication News) Mortgage interest rates were lower today as lenders adjusted their loan products to the changing secondary market (see the mortgage rate charts below). U.S. Bank, SunTrust, PNC, and Citibank were among the banks making changes.

Benchmarks

New concerns over the fiscal cliff and European debt pushed equities lower Monday as money moved into the safe-havens. The estimated losses to consumer spending could eclipse all of the expenditures made during the Black Friday weekend if the country tumbles off the cliff.

Target announces exclusive deal with Sam & Libby Brand Footwear

Target store - BSN

(Best Syndication News) - Target Corporation (NYSE:TGT) announced an exclusive partnership with Brown Shoe Company’s Sam & Libby brand footwear. The partnership will stock Target stores with designer shoes without the hefty price tags. The Sam & Libby brand shoes will start to show up at the brick-and-mortar stores and online on May 5, 2013.

Sam & Libby for Target stores will have 20 footwear styles for women starting at $24.99. There will be sandals, wedges, and pumps. Each season the shoe collection will change to reflect the changing trends.

Current Mortgage Rates Today – Conventional loans higher

FRM

(Best Syndication News) Mortgage interest rates are higher today as capital markets take on riskier investments (see the mortgage rate charts below). SunTrust and Bank of America raised their base rate, while JPMorgan also made changes.

Benchmarks

Stocks were higher again Black Friday as investors anticipate an excellent shopping season. Sales are expected to increase four percent this year, according to the National Retail Federation. Many stores, including Wal-Mart, Target, Toys-R-Us, and K-Mart, were open late Thanksgiving Day this year.

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