For the first time in decades, interest rates for jumbo home loans are lower than rates for a typical mortgage. And because of that, the luxury market is the fastest growing sector of home loans. In Phoenix, sales of homes that cost more than $500,000 are up 64 percent.
This could be the last day the United States is assured of its borrowing authority. Congress could forestall this crisis by raising the debt ceiling, as it has roughly a hundred times before. But the debt ceiling is tied to the same confrontation that's kept much of the federal government shut down.
The possibility of an American default on its debt is huge news across the continent. Europe is barely emerging from its own debt crisis. Europe's recovery rests on demand for its exports and the U.S. is by far the European Union's largest export market.
Revelations about the NSA's online surveillance have upset many countries, and some want to exercise greater control over the Internet. But experts say the likely result would be greater surveillance worldwide.
You're driving down the street, and there on the corner, something familiar: a person waving a giant advertisement. Wait, that's not a real person! In cities across the sign-waving mannequins are helping to advertise things like cash for gold, furniture and apartments.
Day 15 of the government shutdown had a promising beginning, marked by a bipartisan proposal from Senate leaders to reopen the government and raise the debt ceiling. But those hopes were quickly dashed.
Tuesday is the deadline for taxpayers who requested an extension on their 2012 tax returns. With most of its staff currently furloughed, the Internal Revenue Service is not answering calls, issuing refunds or collecting audits. Even so, don't expect a filing reprieve; the midnight deadline is still in effect.
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