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With mortgage rates up sharply, many more homebuyers are turning to adjustable rate loans. These can be more affordable, at least at first. But they come with a big risk. Is it worth it?
We're watching wall street. the federal reserve announcing it will be raising interest rates for the first time since 2018 by a quarter of a percentage point. it's almost exactly two years after the fed slashed rates in an effort to offset the effects of the covid-19 pandemic. for more on what this move means to you, we're joined by nbc's tom costello and cnbc's steve liesman. steve, bottom line this for me. what are the short and long-term implications for consumers? >> for consumers we're talking about potentially higher rates for your credit cards. if you have an adjustable rate mortgage, t...
blame. the debt crisis, here you go. the deepening stalemate. president obama reaches out to a new player and the game is you. in norway, breivik's father wish his son would have killed himself rather than slaughter dozens of people. bp has a big turnaround. the company raked in more than $22 billion in profits for the quarter! the debt, minute-by-minute, the nation inches closer to the brink of twault. the countdown less than seven full days before the federal government runs out of money and unable to pay its bills. in washington a stark message is delivered between the pre...
Large number of adjustable rate loan that is will start to reset about halfway through the year on homes that are way under water. homeowners owe more on the mortgages than the homes are wort worth. >> people up and down the income spectrum. regulations on wall street. action on wall street, big time technology shares are rising. dow jones is down more than 21.5 points, s&p is off 3.5 and nasdaq is down almost 6. move over, bill gates. carlos slim is the new top billionaire in town. not really in town, actually. what do we know about this guy? how did he make all his money? new details in thre...
Next year by comparison salaries increase by 4.4 percent in the year 2000. biggest are in oil sector and luxury retail. >> unless you live in scranton. >> facebook mark zucker berg has refinanced the $6 million morton his palo alto home with a 30 year adjustable rate loan of 1.05 percent. it shows while all lending rates from plunged to record lows they are even lower for the rich or people willing to bare the risk of monthly rate adjustment. it cannot go past 9.9 percent. >> it baffles me a billionaire would even have a port. >> more families eliminating college because of the cost. >> famili...