The stock market has been decimated from a high of near 30,000 last month to hovering around 24,500 today. There are many schools of thought on what caused the market pullback. Some say it's a direct result of fear about the Coronavirus. When fear subsides, they argue, the market will continue to rise. Others say the price drop is due to underlying concerns about the economy, and Coronavirus was just the catalyst.
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The Federal Reserve cut interest rates another 50 basis points, and 30-year mortgage rates have dropped again to their lowest level on record. If you have a mortgage, now is a great time to refinance your mortgage. The average 30-year fixed mortgage is less than 3.5%. If you want to pay off your mortgage faster, you can consider a 15-year mortgage. The monthly payments will be higher, but you'll save money in total interest payments.
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Recession: Here's how the coronavirus crises is different from 2008
A plunging stock market. The widening shadow of recession. Fed interest rate cuts and government stimulus.
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For many Americans, the stomach-churning market drops and growing recession talk of the past few weeks – triggered by the global spread of the coronavirus – are reviving memories of the 2008 financial crisis and Great Recession.
Take a breath. While the toll the infection ultimately takes on the nation isn't clear, the economic upheaval caused by the outbreak will likely not be nearly as damaging or long-lasting as the historic downturn of 2007-09.
'Money is on sale:' What does the historically low 10-year Treasury yield mean for your wallet?
The yield on the 10-year Treasury ( ^TNX ) dipped below 1% for the first time on record last week and continues to fall as coronavirus fears and an all-out oil price war grip investors.
"If money is a product and the interest rate is the price of money, it's like money is on sale," said Tendayi Kapfidze, the chief economist at LendingTree. "It's like the Black Friday for money."
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The decline in rates spurred homeowners across the country to refinance into a lower rate. About 80% of households could have lowered their mortgages by a half-percent, according to Michael Fratantoni, chief economist at the Mortgage Bankers Association.
Organizations receive grant money to help build tourism | News, Sports, Jobs - Williamsport
Fourteen organizations will share a total of $135,000 in award funding from the Lycoming County Visitors Bureau and Williamsport/Lycoming Chamber of Commerce for helping to bring tourism to the area.
Individuals representing many of the groups were on hand Wednesday to officially accept their awards and talk about how the dollars will help them with continuing to boost tourism.
Sandy Spencer, of Rotary Balloon Fest/Air Show, and Janet Harris, executive director, Williamsport Symphony Orchestra, said the dollars allow them to purchase billboard advertising to attract people from outside the area to their events.
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Get those money issues settled before the marriage
Any new relationship, or new stage in one, means you'll need to tweak the way you pay expenses and plan for the future.
It may be hard to keep focused on some of the less-thrilling money stuff when your heart is filled with joy. But nailing it down at the start is the best way to avoid financial strain or pain.
Unfortunately, there's no rule book for how to manage finances with someone you love. The only thing you can do is look at the options, see what other people have done and then have some open, real conversations together. As always, good communication is key.
Dow Jones and stock markets: What does volatility mean for my money?
The sell-off is part of a brutal stretch for stock markets around the world, weighed down by increased fears that the spreading coronavirus could slow the global economy.
Fears of a recession were also fueled Monday by a drop in oil prices after major producers were unable to strike a deal to prop up the price of crude.
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Since February 12, when the Dow reached a high of 29,551.42, the index has shed roughly 5,700 points as of Monday trading.
Deficient roads costing Louisville drivers more money
LOUISVILLE, Ky. (WAVE) - Louisville business leaders are pushing a plan to raise the tax and vehicle registration fees.
The plan follows a new report that shows deteriorating roads costs Louisville drivers more money because of higher vehicle operating costs and gas burned sitting in traffic.
It found driving on roads in the Louisville urban area costs the average driver an extra $1,700 a year.
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TRIP's report found Kentucky's road fund has a $500 million dollar backlog of maintenance road projects.
Smart Money: Apartment hunting tips - The Daily Orange
Summer internships offer professional development opportunities, and an independent experience. Be ready to research by asking around. Friends who recently interned in the same city may have recommendations. Some employers may be able to connect you with current employees who were formerly interns themselves who may also be able to provide guidance in a new city.
If you landed your dream job and are getting ready to graduate, spend time researching apartment options and factors such as location pricing, amenities and cost of utilities. These factors are all significant to a decision. Websited like Zillow, Hotpads and Apartments.com can help. These websites are interactive and allow filters for a search based on the specific amenities of apartments, such as budget, location, number of rooms and other qualities.
Happening on Twitter
California's Sacramento County has at least 10 coronavirus cases, and will "shift from containment to mitigation."… https://t.co/g1n5V5du2h NPR Tue Mar 10 18:32:04 +0000 2020
The government can't negotiate the future of Britain's trade with the EU in a few months during what could well bec… https://t.co/iyWC5kLDbj DavidLammy (from Tottenham) Tue Mar 10 08:17:48 +0000 2020
Even without the #coronavirus, suspension or elimination of the #payrolltax is the quickest and most sensible means… https://t.co/WAEb0S0NIq michaeljohns (from New Jersey, USA 🇺🇸) Tue Mar 10 18:49:53 +0000 2020
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