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24.40MDow Volume:
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4581
Price Chg %Chg 1 Day
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/quotes/zigman/627449/realtime 16,506 +154 0.94%
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/quotes/zigman/3870025/realtime 1,970 +21 1.07%
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/quotes/zigman/629063/realtime 2,338 +25 1.06%
Gold
/quotes/zigman/662444/delayed 1,126 -8 0.66%
Oil
/quotes/zigman/2331095/delayed 46.25 0.00 0.00%
FTSE 100
/quotes/zigman/3173262/delayed 6,202 +119 1.96%
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/quotes/zigman/2380246/delayed 10,361 +313 3.12%
CAC 40
/quotes/zigman/3173214/delayed 4,678 +123 2.70%
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/quotes/zigman/2759620/delayed 10,079 +141 1.42%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +9 2.59%
Asia Dow
/quotes/zigman/6959860/realtime 2,714 +11 0.40%
Nikkei 225
/quotes/zigman/5986735/delayed 18,182 +87 0.48%
Hang Seng
/quotes/zigman/2622475/delayed 20,935 -250 1.18%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,765 +311 1.22%
Singapore
/quotes/zigman/1709939/delayed 2,906 +28 0.98%
Euro
/quotes/zigman/16008136/realtime/sampled 1.11 -0.01 0.97%
Yen
/quotes/zigman/16008150/realtime/sampled 120.28 -0.05 0.04%
Pound
/quotes/zigman/16008140/realtime/sampled 1.52 -0.01 0.37%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 +0.00 0.01%
DXY Index
/quotes/zigman/1652083/delayed 96.41 +0.42 0.44%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.81 +0.25 0.28%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.19 +0.01 0.33%
German 10y
/quotes/zigman/15866409/realtime 0.76 -0.02 2.66%
Italy 10yr
/quotes/zigman/15866497/realtime 1.95 -0.04 2.20%
Spain 10yr
/quotes/zigman/15866444/realtime 2.12 -0.02 1.03%
U.K. 10yr
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Japan 10yr
/quotes/zigman/15866525/realtime 0.40 +0.00 0.13%
Crude Oil
/quotes/zigman/2331095/delayed 46 0 0.00%
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/quotes/zigman/3134148/delayed 15 +0 1.11%

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Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 89.54 -0.35 -0.39%
AAPL /quotes/zigman/68270/composite 112.06 -0.28 -0.25%
GOOG /quotes/zigman/30194416/composite 615.49 1.15 0.19%
BAC /quotes/zigman/190927/composite 16.11 0.26 1.64%
C /quotes/zigman/5065548/composite 52.42 0.67 1.29%
F /quotes/zigman/264304/composite 14.04 0.17 1.19%
T /quotes/zigman/398198/composite 33.18 0.36 1.10%
BP /quotes/zigman/247026/composite 32.75 0.55 1.71%
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5 yr CD
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0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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Fewer Home Buyers Are First-Timers

The vast majority of home buyers already own a home.

Peshkov Daniil / Shutterstock.com

Despite low interest rates, low prices and slowly rising sales, first-time homeowners accounted for just 34% of all buyers in July, according to data released this morning by the National Association of Realtors. While that figure has inched up slightly from the month and year prior, the association says first-time home buyers account for 40% of purchasers under normal conditions.

The reluctance of newcomers to enter the market may be further adding to housing’s woes. After all, first-time buyers are vital to boosting sales, especially during downturns, since when they buy a home, they aren’t also selling a previous home to finance the purchase.

Their recent absence is largely due to the current challenges of saving up enough for a down payment: In a survey released in June by Trulia, an online real estate marketplace, 47% of all adults who aren’t homeowners and who wish to buy a home said that the down payment is the biggest obstacle to entering the housing market. Most mortgages require at least a 10% down payment, and in some pricey markets, like New York and San Francisco, coming up with that cash can take years, says Jed Kolko, chief economist at Trulia. A poor credit history, which makes it difficult to qualify for a mortgage, was the second most common issue holding back would-be first timers, according to Trulia’s survey.

Many potential buyers are also facing higher unemployment rates than other groups. The unemployment rate among 25- to 34-year-olds stood at 8.2% in July, compared with 6.9% for 35- to 44-year-olds and 6.5% for 45- to 54-year-olds, according to the Bureau of Labor Statistics.

Separately, first-time buyers are competing against investors — who tend to have all-cash offers and who go after the same, lower-price homes, says Leonard Baron, real estate lecturer at San Diego State University. Sellers who are eager to unload their homes are more willing to work with investors, since the sale doesn’t hinge on a bank’s decision to approve them for a mortgage. More recently, experts say, tight inventory has made it even harder for first timers to compete.

In the past, government intervention encouraged more first timers to buy a home. They accounted for nearly half of all purchases during the first half of 2009 through spring 2010, according to the NAR. That spike was partly attributable to the federal government’s $8,000 tax credit for first-time home buyers.

But there was also a larger supply of homes to choose from at that point, says Walter Molony, a spokesman for the NAR. Going forward, experts say, a larger economic recovery will have to occur in order for more lifelong renters to become home buyers. And more lower-price-range homes — in particular, foreclosures and other distressed properties now being held off the market — need to go on sale, says Molony.

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MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

London Markets Close in:

need to know
ISM services index slows, but tops forecast
Jobless claims rise to two-month high
U.S. trade deficit shrinks 7.4% to $41.9 billion
Joy Global cuts guidance as profit, sales miss
Acadia eyes FDA OK on Parkinson's pyschosis
Europe markets rise | FTSE 100 heads for gain
Treasury's Lew irked by China's FX move
Rio Tinto sees solid demand for iron ore, steel
Novartis to begin selling Neupogen copy in U.S.
Syrian refugees reach Norway — via the Arctic

Tom Brady's 'Deflategate' suspension overturned by judge, AP reports
Tom Brady’s ‘Deflategate’ suspension overturned
The real Deflategate verdict? NFL’s in trouble

Donald Trump tells Kareem Abdul-Jabbar: ‘You don’t have a clue about life’
Trump’s new feud is with Kareem Abdul-Jabbar

Caroline Baum: No one knows what Trump would do as president, but it’d be great!
What Trump would do as president: It’d be great

Trump, Clinton play liar’s poker: Delamaide

Video: Watch China’s 90-minute military parade in 60 seconds
Watch China’s    90-minute parade in 60 seconds
China markets close for war anniversary

These are the college majors that are dying

They tangled with student debt all summer
College help for low-income families

43% of U.S. homes are at high risk of natural disaster
43% of U.S. homes are at high risk of natural disaster

Why the British Hugo Chavez will be good for the economy
Why the U.K. Hugo Chavez will be good for its economy

Bill Gross calls a Fed rate hike ‘too little, too late’
FDIC chief: Rates may catch banks off-guard
Junk-bond stress level climbs to 5-year high

Why India is worth a look if you’re cooling on China

History’s lessons in surviving market crashes

Apple’s biggest challenge: Topping the iPhone 6
Apple set to join content contest
What to expect from the Apple event on Sept. 9

Why gold now looks more risky than stocks
Why gold now looks more risky than stocks: Reeves
Still too many gold market bulls: Mark Hulbert

GoPro’s stock rocked by supplier’s outlook

10 cities in U.S. with the very worst traffic problems
Lowest Labor Day gas prices in 11 years: AAA
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Markets »

24.42MDow Volume:
Avg Vol: 113.01M
Unchanged
188
Decliners
1411
Advancers
4583
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,506 +154 0.94%
Nasdaq
/quotes/zigman/12633936/realtime 4,787 +37 0.79%
S&P 500
/quotes/zigman/3870025/realtime 1,970 +21 1.07%
GlobalDow
/quotes/zigman/629063/realtime 2,338 +25 1.07%
Gold
/quotes/zigman/662444/delayed 1,126 -7 0.64%
Oil
/quotes/zigman/2331095/delayed 46.25 0.00 0.00%
FTSE 100
/quotes/zigman/3173262/delayed 6,202 +118 1.95%
DAX
/quotes/zigman/2380246/delayed 10,361 +313 3.11%
CAC 40
/quotes/zigman/3173214/delayed 4,677 +122 2.67%
FTSE MIB
/quotes/zigman/1482176/delayed 22,167 +555 2.57%
IBEX 35
/quotes/zigman/2759620/delayed 10,080 +141 1.42%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +9 2.59%
Asia Dow
/quotes/zigman/6959860/realtime 2,714 +11 0.40%
Nikkei 225
/quotes/zigman/5986735/delayed 18,182 +87 0.48%
Hang Seng
/quotes/zigman/2622475/delayed 20,935 -250 1.18%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,765 +311 1.22%
Singapore
/quotes/zigman/1709939/delayed 2,906 +28 0.98%
Euro
/quotes/zigman/16008136/realtime/sampled 1.11 -0.01 0.96%
Yen
/quotes/zigman/16008150/realtime/sampled 120.28 -0.05 0.04%
Pound
/quotes/zigman/16008140/realtime/sampled 1.52 -0.01 0.37%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 0.00 0.00%
DXY Index
/quotes/zigman/1652083/delayed 96.41 +0.42 0.44%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.81 +0.25 0.28%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.19 +0.01 0.33%
German 10y
/quotes/zigman/15866409/realtime 0.76 -0.02 2.76%
Italy 10yr
/quotes/zigman/15866497/realtime 1.95 -0.04 2.24%
Spain 10yr
/quotes/zigman/15866444/realtime 2.12 -0.02 1.07%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.83 +0.01 0.65%
Japan 10yr
/quotes/zigman/15866525/realtime 0.40 +0.00 0.13%
Crude Oil
/quotes/zigman/2331095/delayed 46 0 0.00%
Gold
/quotes/zigman/662444/delayed 1,126 -7 0.64%
Corn
/quotes/zigman/7599553/delayed 366 -1 0.34%
DJIA F
/quotes/zigman/38649152/delayed 16,467 +137 0.84%
S&P F
/quotes/zigman/30356461/delayed 1,965 +17 0.89%
Silver
/quotes/zigman/3134148/delayed 15 +0 1.11%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 89.49 -0.40 -0.44%
AAPL /quotes/zigman/68270/composite 112.06 -0.28 -0.25%
GOOG /quotes/zigman/30194416/composite 616.47 2.13 0.35%
BAC /quotes/zigman/190927/composite 16.10 0.25 1.58%
C /quotes/zigman/5065548/composite 52.40 0.65 1.26%
F /quotes/zigman/264304/composite 14.04 0.17 1.23%
T /quotes/zigman/398198/composite 33.18 0.36 1.08%
BP /quotes/zigman/247026/composite 32.75 0.55 1.69%
GE /quotes/zigman/227468/composite 24.85 0.28 1.14%
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5 yr CD
1.5%
2 yr CD
0.8%
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MMA $10K+
0.3%
MMA $50K+
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National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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