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Spain and Italy Ratings Downgraded While Belgium Under Review

belgium currency downgraded

World Financial News: M0re European debt worries arise as Spain and Italy were both downgraded by Fitch Ratings. Belgium is also in trouble as its currency is under review by Moody’s Investors. Don’t let the complex talk fool you – it’s all about too much debt and the inability to pay it off (source: Bloomberg.com).

Personal Finance News: You can’t change Bank of America’s decision to charge $5 for debit card transactions, but here’s a great explanation of how BofA came up with the number (source: TheConsumerist.com).

Daily Finance Summary: U.S. stocks saw a weekly gain but ended down for the day. Gold and silver had their first weekly gain in 5 weeks despite the continuation of European debt worries. The unemployment report saw a modest game, prolonging the recession and validating many fears that it won’t be a quick recovery.

Stocks, Metals and Mortgage Rates
Dow Jones: 11,103 (-20) you lost -0.18%
S&P 500: 1,155 (-10) you lost -0.82%
Gold: $1,641 (-0.71%) you lost -$12
Silver: $31.23 (-0.78%) you lost -$2.42
30-Year Fixed Mortgage Rates: 4.09% (+0.06)
15-Year Fixed Mortgage Rates: 3.52% (+0.08)


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