Business News

Online Holiday Sales increase over Thanksgiving Day and Black Friday

Laptop keys upclose - BSN

(Best Syndication News) - While many Americans opted to go shopping at traditional brick-and-mortar stores last week, the number of people shopping online during Thanksgiving Day and Black Friday is increasing. U.S. retail e-commerce spending for the first 23 days of November totaled $13.7 billion, according to report by comScore (NASDAQ:SCOR). The National Retail Federation also found a trend in online shopping during this holiday weekend.

On Black Friday, online shoppers spent 1.042 billion, comScore found. This was a 26 percent increase in spending compared to Black Friday 2011. Online Thanksgiving Day sales increased 26 percent compared to the previous year's figures. Put side-by-side, online Thanksgiving Day sales totaled only $633 million, much smaller than Black Friday sales.

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.

Samsung and LG receive Awards for Most Efficient HDTV Sets

Samsung 26EH4000 wins SEAD Global Efficiency Medal

(Best Syndication News) - Samsung and LG HDTV sets have been recognized for being the most energy efficient units currently on the market. The Super-efficient Equipment and Appliance Deployment (SEAD) awarded the first-ever SEAD Global Efficiency Medal to Samsung and LG for some of their HDTV sets.

SEAD is an initiative to encourage governments and the private sector to develop and deploy energy efficient products. On their website, SEAD states that they were first introduced at the UN Framework Convention on Climate Change - a December 2009 conference held in Copenhagen - by U.S. Secretary of Energy Steven Chu and Indian Environmental Minister Jairam Ramesh.

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.

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