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Still, it's important at times like this to step back and count your blessings. Inflation is no longer on top of Alan Greenspan's worry list, so the Fed chief has room to cut interest rates, probably starting late this month. Corporate profits, though slowing, will still be up in the coming year. Mortgage rates have declined sharply, putting a floor under home values. That's critical because despite the explosion of stock-market wealth over the past decade, the most valuable asset most Americans own is their home. The unemployment rate remains low at 4%, and many economists...
Among bonds, Treasury securities that mature in five to seven years offer the best combination of safety and potential total return. For cash, six-month bank CDs probably beat money funds, where interest payments will float lower as the Fed cuts short-term interest rates...
...house hunting you may finally get a break. As the economy slows, more homes will become available at attractive prices. And mortgage rates should decline as the Fed cuts short-term rates. But don't wait too long; mortgage rates will head higher as a recovery takes shape. With the job market expected to stay fairly strong, others will be bidding against you, so don't hold out for a screaming bargain...
...represents a saving of $241.49 a month on a $250,000 mortgage. The 30-year fixed rate is the best deal in town at the moment because long-term rates have come down sharply while short-term rates haven't moved much. That dynamic will change as the Fed starts cutting rates. But for now the average rate on a one-year adjustable is 7.02%, not much lower than a 30-year fixed-rate mortgage with which you'll never have to worry about yearly adjustments that could go much higher...
...Games People Play as well as making his own short films and a Yes concert film. In 1989 he released his first feature, and the movie gods smiled on him. It was called sex, lies, and videotape. The $1.2 million romantic Rubik's cube resonated with a public largely fed up with the mindless action-heavy fare of 1980s Hollywood, and by independent-film standards it became a blockbuster. It also cleared a path from the art house to the mall and launched a brigade of indie and indie-minded movies--from Pulp Fiction to American Beauty--into the mainstream...