National Consumer Protection unleashes new mortgage rules

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The U.S. Consumer Financial Protection Bureau released new rules on mortgage lending that limits the debt-to-income ration for people taking on conforming mortgages to 43 percent of a household’s monthly income. In high priced states like Connecticut, what does this mean? Could it depress prices? Could it slow down sales? We’ll be checking into this […] [Read More]

Bridgewater hires Northern Trust for back-office services

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A little more than a year since Westport-based Bridgewater Associates turned over some of its back-office functions to BNY Mellon, the world’s largest hedge fund is hiring Northern Trust’ to replicate some of that work. Northern Trust announced the Bridgewater deal on Tuesday. According to Chicago-based NT, it will replicate certain middle and back-office services […] [Read More]

Great time to buy a mansion on credit

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Those seeking jumbo loans for homes paid on average just 0.14 percent more than people with conforming loans last week, as the spread between the two types of mortgages continues to shrink. The Mortgage Bankers Association reported Wednesday, conforming, 30-year fixed mortgages, for loans with outstanding balances of less than $417,500 nationally, got on average […] [Read More]

Attn: Walmart shoppers and competitors a credit union is now available

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On Tuesday, Nutmeg State Federal Credit Union announced it is expanding and will open up branches in Walmart stores in Berlin and Cromwell in the coming months. Walmart continues to work to provide more services to attract shoppers in an economy that has remained stubbornly stagnant as consumers remain cautious. Walmart has made inroads in […] [Read More]

2012 Holiday hiring highest in six years

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This explains why the State’s unemployment assistance phone system has been overwhelmed during the last week. According to hiring consultant firm Challenger Gray and Christmas, retailers added728,300 staff nationally, between October and New Year’s Day, the biggest total since 2006, when retailers added 746,900. Connecticut retailers appear to have participated in the increase in hiring […] [Read More]

Fiscal Cliff deal in sight

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Senate leaders and the President claimed to have seen the shadow of a deal to prevent America from plunging off the fiscal cliff. But then everyone realized it just means we’ll have six more months of gridlock. (It’s a joke based on the ground hog seeing its shadow.) AP reported just after 4 p.m., Congress […] [Read More]

Last Call!

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Better think ahead if you want to chase your hangover with something from home on New Year’s Day, the package stores will all be closed. The Department of Consumer Protection send out a press release this weekend urging people to get their alcohol before New Year’s Day, to drink responsibly and to not drink and […] [Read More]

Digging up kickbacks in Connecticut construction

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Masons, landscapers, electricians and drywallers, will nod and say it’s part of the business here in Connecticut and it can’t be stopped – kickbacks. Exactly how big of a problem kickbacks are in the construction business here is unclear. Could be pretty small, but certainly, if it’s widespread, it could be one reason why wages […] [Read More]

Refinance rush as mortgage rates set a new low

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The Mortgage Bankers Association said Wednesday mortgage rates set a record low in the nation, with a fixed-rate, 30-year mortgage averaging about 3.47 percent for the week ended Dec. 7. Mortgage activity was up last week by 6.2 percent compared to the prior week, with the increase due primarily to refinancing activity, which now accounts […] [Read More]

Push on for paycheck fairness

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U.S Rep. Rosa DeLauro, D-3, is advocating Congress pass the Paycheck Fairness Act after an  American Association of University Women report ranked the states by the gender-based wage gap.  Connecticut came in at 25th out of 50 states, with women making just 78 cents for every dollar made by a man. “Today’s AAUW report is […] [Read More]
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