Interest Rate Mortgages

Many home buyers took advantage of low intereste rates during the GFC. But now they are coming up for renewal and will find it tough to pay. Mark Bouris talks to Andrew Robertson at ABC’s Lateline Business

It’s time to stop Wall Street banks and their credit card subsidiaries from taking advantage of struggling families in Rhode Island and across the nation. That’s why Sheldon introduced “The Empowering States’ Rights to Protect Consumers Act.” Prior to 1978, each state had the ability to enforce interest rate limits to protect its citizens. This legislation would restore historic, long-standing states’ rights to protect consumers from high interest rates.

For more news visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ facebook.com All eyes are on Federal Reserve president Ben Bernake after the interest rate hike. The Europeans have done it, and so have the Chinese, but the Federal Reserve doesn’t seem ready to join the rate hike race – - at least for now. It’s been a busy period for central banks around the world. The European Central Bank President lifted interest rates as expected, China’s central bank lifted its key lending rate earlier in the week and some Federal Reserve officials are hinting rates may need to go higher in the US The beef: rising inflation boosted by skyrocketing commodity prices. Oil prices have risen roughly 25 percent since January when unrest in Egypt fired up and spread to other regions causing fears of energy supply disruptions. US consumers have been feeling those gains with higher prices at the pump. But in a speech earlier this week, Fed Chairman Ben Bernanke didn’t seem convinced those higher prices are here to stay. The Federal Reserve has a dual mandate: to control prices but also to increase employment. While the labor picture has been improving in the US, unemployment remains stubbornly high at 8.8 percent and wages remain subdued. Because of this, Wall Street doesn’t think the Fed is likely to raise rates anytime soon. Clark Winter is president of Clark Winter Enterprises. [Clark Winter, President, Clark Winter Enterprises]: “I think the Fed is aware of how …