Credit and Loans

Young Adults pay off Credit Card Debt Slower than Older Adults

Credit card pile - BSN

(Best Syndication News) - Credit card debt balances are considerably higher for young adults than for the elderly, according to a new study. The researchers also found that the younger adults are taking more time to pay off their balances.

Lucia Dunn, co-author of the study and professor of economics at Ohio State University, suggested that if the trend for the young adults continues into retirement, there could be serious financial problems in the years to come. She continued to explain that if their projections are correct, many of these young adults who have credit card debt will die owing the lenders money.

Current Mortgage Rates Today – Loan rates advance at most banks including JPMorgan Chase & PNC

Graph of 30-year loan

(Best Syndication News) Mortgage interest rates inched higher today despite a downturn in some of the benchmarks (see the mortgage rate charts below). JPMorgan Chase, Bank of America, and PNC raised their rates while Citibank lowered them.


Stocks continued to move higher as investors continued their reluctant migration back into equities later in the session Friday. The three major indexes were below par early on but the blue-chips broke into positive territory by the closing bell.

Current Mortgage Rates Today – Citibank and Bank of America raise their loan rates

5/1 ARM

(Best Syndication News) Advancing benchmarks continued to push interest rates higher today despite a drop in the secondary lending market (see the mortgage rate charts below). SunTrust bucked the trend and lowered their mortgage loan rates; however JPMorgan Chase, Bank of America, and Citigroup raised their mortgage products.


Stock prices were higher for the second-straight day as U.S. President Barack Obama nominated Jacob Lew. The optimism was sustained after last week’s agreement on taxes and a positive earnings report registered by Alcoa Inc. (NYSE:AA) on Tuesday. Lew will be the point-man in President Obama’s debt-ceiling negotiations with Republicans in Congress.

Current Mortgage Rates Today – JPMorgan Chase and U.S. Bank among the lenders lowering rates

Chart: 15-year FRM

(Best Syndication News) Mortgage interest rates inched higher today as pressure on stock prices eased (see the mortgage rate charts below). SunTrust and KeyBank raised their conventional loan rates while U.S. Bank and Chase lowered them.


Markets opened higher and remained just slightly above par throughout most of the session. It was the first positive day all week. Investors were happy to see Alcoa Inc. (NYSE:AA) post better-than-expected quarterly results early in the earnings season.

Current Mortgage Rates Today – SunTrust, KeyBank, and other lenders lower rates

VA Loans

(Best Syndication News) Mortgage interest rates shifted lower again as capital markets swung back into the safe-havens (see the mortgage rate charts below). Bank of America raised their rates while most other lenders lowered them.


A better-than-expected earnings report from Alcoa Inc. (NYSE:AA) wasn’t enough to pull the Dow Jones Industrial Average (DJIA) higher Tuesday. The company also sees a fruitful 2013 if investors don’t focus on negative factors like the debt ceiling. The price of raw materials, including aluminum, can be affected by consumer confidence.

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