California unemployment rate falls

The state’s unemployment rate fell to 8.5% in June, according to figures released Thursday by the state’s Employment Development Department. That’s down from 10.6% in June 2012, the steepest decline by any state during that time period. It’s not...

Mortgage Interest rates heading higher

Rates are slowly drifting upward. They have risen ½ % point since the lows of last fall. People have gotten too used to low rates and don’t get that this is historic and not normal. The federal reserve has been artificially keep in g interest rates low by buying up 10...

More fed meddling

In an effort to boost the housing market, the federal reserve has taken a new and unusual step. Instead of merely buying treasury bonds to lower mortgage rates, it is now going to buy mortgage backed securities. You know them- the toxic ones that caused the problem in...