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The Paul Ryan budget: your guide to what's in it

Rep. Paul Ryan, Mitt Romney's running mate, is best known for drawing up a series of spending-and-tax plans meant to challenge the Obama administration's policies from the right. But it's been some time since his latest budget, which Mr. Ryan terms a "path to prosperity," was released. Here's a primer on what's in it.

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Mortgage rates climb to two-year high

Mortgage rates for a 30-year fixed rate mortgage climbed to 4.51 percent this week, hitting a two-year high. Mortgage rates have been rising on expectations that the Federal Reserve will slow its bond purchases this year.
Tax VOX Uncle Sam's growing investment portfolio

The federal government has been borrowing rapidly to not only finance recent budget deficits but also make financial investments. These investments now total about $1.1 trillion, and the debt supporting Uncle Sam’s investment portfolio accounts for almost 10 percent of the $11.9 trillion in public debt.
Why federal budget deficit is falling faster than CBO expected

The federal budget deficit will shrink this year to $642 billion, the nonpartisan CBO said in a new estimate Tuesday. Just three months ago, it was forecasting a deficit of $845 billion.
Georgia firefighters rescued; gunman dead

A Georgia man who held four firefighters hostage on Wednesday died during the rescue effort. One of the firefighters was injured. The man took the hostages in an attempt to have his utility services restored. His home was in foreclosure.
Fannie Mae record profit: How long until it pays back bailout money?

Fannie Mae, the mortgage giant, made a record $17.2 billion in 2012. So far, it has paid back $36 billion of the $116 billion it received in a US bailout.
What's in Paul Ryan plan? Surprising numbers from GOP House budget. (+video)

The GOP budget plan Paul Ryan is putting forward in the House is filled with ambitious numbers, big and small. The bottom line: reduce the national debt and the interest payments to service it.
State of the Union 2013: A step forward on housing?

President Obama's State of the Union address included a proposal to extend refinancing to a wider section of homeowners, giving the economy a boost. But such proposals have languished before, so this time Mr. Obama may resort to executive action.
Americans now love 15-year fixed mortgages

Rates on a 15-year fixed mortgage are so low that many homeowners can afford the higher payment, which allows them to pay off their mortgage in 15 years instead of the standard 30.
The Monitor's View Home truths in new mortgage rules

New regulations on home mortgages from the Consumer Financial Protection Bureau will raise ethical standards and lower risks. But they don't reduce government incentives that might create another housing bubble.
AIG, saved by US bailout, now considers suing US government

AIG may join a lawsuit alleging that the terms of the US government bailout were unfair to investors, but such a move risks infuriating the taxpayers whose money saved it from ruin.
Bank of America settles with Fannie Mae. $10B for risky home loans.

Bank of America has reached a settlement with Fannie Mae over questionable home loans the bank sold to the lender during the housing bubble. The $10 billion settlement from Bank of America will include a $3.6 billion payment to Fannie Mae and $6.75 billion in bought back loans.
Home sales up, inventory down: good for home prices and for builders

The US housing recovery marched on in October with several positive signs: sales, prices, and permits to build new homes were up, and the supply of homes for sale was the lowest in years.
Mortgage rates slip back toward record lows

Mortgage rates edge down this week to 3.39 percent for a 30-year loan. As mortgage rates have fallen this year to record lows, home sales and refinancings have picked up
Economic toll of Sandy: Damage second only to Katrina?

Superstorm Sandy cut a path of destruction that could near $50 billion. Economic activity in New York City dipped 20 percent in storm's wake, but economists do not expect that Sandy will have a major impact on the nation's economic growth.
The Monitor's View Oh, the ease of blaming others in a crisis

When earthquake experts are sentenced for bad predictions and lenders accused of bad calls on mortgages, society needs a reminder that individuals are responsible for their actions.
Mortgage rates rise from last week's record lows

Mortgage rates in the US rose to an average 3.39 percent last week, up from 3.36 percent. Last week's 30-year mortgage rates were the lowest since long-term mortgages began in the 1950s.
Saving Money Major banks settle with homeowners. Are you entitled?

If your home loan is serviced by one of the five major lenders – including Bank of America and Wells Fargo – you may be entitled to a share of one of the largest civil settlements in history.
Housing prices: Are short sales in danger?

As housing prices recover, short sales have become an increasingly popular escape route for indebted homeowners. But the future of short sales depends on a tax cut extension from Congress that may or may not come, and realtors argue that housing prices haven't rebounded enough for many homeowners to afford their debt forgiveness as a tax.
Time to refinance your mortgage? Rates hit historic lows.

Mortgage interest rates are at their lowest point since records have been kept. Last week, some 81 percent of the loans made were refinancings, according to the Mortgage Bankers Association.
Paper Economy New mortgage data shows slight rise in home prices

Home prices increased 0.2 percent since June, according to the latest house price index from the Federal Housing Finance Agency. Home prices rose 3.90 percent above the level seen in July 2011.
Mortgage rates fall to record low 3.49 percent

Mortgage rates for 15-year agreements fell to a new record low this week, and the average 30-year rate touched its record low. Mortgage rates matched their lowest level since long-term mortgages began in the 1950s.
Focus Housing market turning a corner? Signs of hope for homeowners.

Rising home values and declining foreclosure rates indicate a slow but steady recovery for the US housing market. Obstacles remain, however, including negative equity due to 'underwater' mortgages.
Fed easing: How many homeowners will it really help?

Federal Reserve's new push to ease mortgage rates won't help underwater homeowners and those with bad credit. Despite current low rates, two-thirds of homeowners have interest rates above 5 percent.
Housing prices: Agents make houses sell for a lot less. On purpose.

Housing prices are manipulated by shady real estate agents who practice 'flopping.' Instead of making homes look good to raise housing prices, tey make them look bad so banks will sell them for a loss.
The Paul Ryan budget: your guide to what's in it

Rep. Paul Ryan, Mitt Romney's running mate, is best known for drawing up a series of spending-and-tax plans meant to challenge the Obama administration's policies from the right. But it's been some time since his latest budget, which Mr. Ryan terms a "path to prosperity," was released. Here's a primer on what's in it.