AARP Finance - Will Thanksgiving mark the turning point of the market.
Traditional stocks and share have always risen either during the week either side of Thanksgiving day, the question of AARP members lips is will this mark the start of a revival.
Citibank group is struggling to survive and may be up for sale. The automobile industry is struggling even with the price of oil falling and many jobs in associated businesses continue to be at risk.
AARP members need to take stock of the situation and those that have savings are seeing lower returns due to the fall in interest rates which are now hardly matching inflation. It is better at the moment to use some savings to pay off credit and loan account which have high rates of interest rather than keep the money in the bank.
Fannie May and Freddie Mac have both announced an armistice on foreclosures during the holiday period until January. "With this suspension, seriously delinquent borrowers may have an opportunity to avoid foreclosure and work out terms to stay in their homes," said Federal Housing Finance Agency director James B. Lockhart III, the regulator in charge of Fannie Mae and Freddie Mac. This will provide a little bit of cheer for a few AARP members.