 Personal Finance Daily OCTOBER 06, 2011 Pros and cons of 401(k) loansBy MarketWatch
Also in the day's Personal Finance news, Freddie Mac reports that the average interest rate on the 30-year fixed mortgage dropped to 3.94%. While continued record-low rates are an advantage to some homeowners and would-be homeowners, they really reflect serious concerns over global recession. Read Amy Hoak's column on what effect rates below 4% are having on the housing market. — Anne Stanley , managing editor, Personal Finance That 401(k) loan may cost more than you realize About one in four investors borrow money from their 401(k), but while such loans have some benefits compared with other sources of credit, they also can hit your retirement savings in unexpected ways. Read more: That 401(k) loan may cost more than you realize. Rate on 30-year mortgage falls below 4% Average rates on 30-year fixed mortgages fall below the 4% mark for the first time, according to Freddie Mac. Read more: Rate on 30-year mortgage falls below 4%. ECONOMY AND POLITICS Geithner: Europe crisis could cause major damage A severe crisis in Europe could cause significant economic harm by undermining confidence and weakening demand, Treasury Secretary Timothy Geithner says. Read more: Europe crisis could cause major damage, Geithner says. Bank of England launches more QE; pound drops The Bank of England, stunning currency markets, announces another round of quantitative easing. The move prompts a steep selloff in the British pound. Read more: Bank of England launches more QE. Weekly initial jobless claims up 6,000 to 401,000 Initial claims for the week ended Oct. 1 show an increase of 6,000 to a seasonally adjusted 401,000, according to Labor Department data. It constitutes only a small reversal of the 33,000-claim drop in the prior week. Read more: Weekly initial jobless claims up 6,000. Trichet legacy hinges on debt crisis outcome Jean-Claude Trichet has scrambled to contain the debt crisis from consuming the euro, but his departure from the helm of the European Central Bank leaves his legacy yet to be determined. Read more: Trichet legacy hinges on debt crisis outcome. INVESTING Rally a two-day wonder or something more? The two-day share rebound may be more a function of an oversold market than the latest grand plan to save the euro zone, writes Kevin Marder. Read more: Rally a two-day wonder or something more? Steve Jobs: No CEO of his generation came close You have to go back decades to find someone of such stature, writes commentator Brett Arends. Read more: Steve Jobs: No CEO of his generation came close. The triumph of Dennis Slothower The investment letter that evaded the 2008 crash is now the top performer for 2011, and it's still snarlingly bearish Read more: The triumph of Dennis Slothower. Why Microsoft should bid for Yahoo A report that Microsoft Corp. (MSFT) might be looking at Yahoo Inc. (YHOO) again, while inevitable in an auction, raises old risks and opportunities. But the world has changed in three years. An Internet arms race is in the cards. Read more: Why Microsoft should bid for Yahoo. Get the latest news on our mobile site: http://www.marketwatch.com/m |
Thursday, October 6, 2011
Pros and cons of 401(k) loans - Market Watch
