Economic outlook

MasterCard partners with IDB to promote financial inclusion in Latin America, Caribbean

MasterCard recently partnered with the Inter-American Development Bank to promote economic inclusion and transparency through the expansion of electronic payments in the Caribbean and Latin America. The five-year partnership aims to promote the transition to e-payment services in the region, thereby helping to cut transaction costs and boost... Read More...

Home Properties announces extended credit line, $250 million term loan

Home Properties announced last week that its revolving credit line has been extended to $450 million and its $250 million term loan has been extended until August 18, 2018. "There was a very high level of interest in participating in the increased credit facility," Home Properties Executive Vice President and CFO David P. Gardner said. "We... Read More...

Optimism among small business owners rises to highest post-recession level

Data from the Wells Fargo/Gallup Small Business Index showed that small business optimism has risen nine points since the second quarter to reach the highest level since the third quarter of 2008. Optimism about the current and future availability of credit contributed to the improvement. In the survey, 28 percent of small business owners... Read More...

Wells Fargo launches savings tool allowing users to plan for retirement

Wells Fargo launched its My Retirement Plan savings tool on Monday, allowing the public to create an online plan for retirement that they can save, manage and update at any time. The savings tool, which uses government data to calculate a user’s retirement income need, calculates a monthly amount to save for retirement and a monthly income if... Read More...

Borrowers take advantage of low interest rates to refinance, shorten loan terms

Data released by Freddie Mac last week showed that borrowers have continued to take advantage of near-record low interest rates to lower monthly mortgage payments and shorten loan terms. Borrowers have also increasingly opted for the safety of long-term fixed-rate mortgages. More than 95 percent of refinancing borrowers chose a fixed-rate loan,... Read More...