Chapter 2 -TD Bank, Scotiabank latest to raise mortgage rates

http://www.nationalpost.com/related/topics/story.html?id=2097728

Summary :

There are numerous of Canadian banks that are rising the cost of taking out a mortgage with them. Just on Tuesday, TD Bank raised rates on fixed mortgages, now with a five year posted rate it has increased to o.29 of a percentage point to 5.84%. The rates has also raised up for two, three, and four year fixed rate mortgages. The two year went up to 0.3 of a point to 4.2%, three year went up to 0.3 too but to 4.75% and lastly the four year will increase up to 0.35 which will be 5.29%. After TD bank has raised their mortgage rates, followed by Scotiabank they announced they are rising their mortgage rates as well. All this changes will be effected on Wednesday.

Connection:

In this article, you can see that several of Canadian banks are rising their cost of taking out a mortgage with them. TD Bank and Scotiabank has raised the mortgage rates ranging from 0.1 to 0.35 just on Tuesday. This article relates to Chapter 2 because it talks about the rates being increased in the mortgage. It is already bad with all the other things going on right now, but now they are increasing the mortgage rates too.

Reflection:

In my opinion, I don't think they should raise the mortgage rates because once they raise the mortgage rates then the home owners will have to pay more for their mortgage. Mortgage is a big part of life. There is already tons and tons of people losing jobs right now, and now they hear about the mortgage rate going up. I don't think they will want to buy a house or anything because of the increase for the mortgage rate. It will be harder for people to pay off their mortgage and that also means having to work a second job to pay off everything.

Apple Investors Catch Religion?

http://www.cnbc.com/id/32880029

Summary

With the outbreak of the recession, the stock market has improved.Even though the money has been tight in some cases, Apple company has made a soaring raise in the stock market. Climbing the 52 week high in the morning. The mac sales surpassed estimates for the September quarter, with a seven percent year-over-year increase. Analysts predict that something closer to five percent would translate into at least 2.8 million Mac computers being sold around the world. The invention Apple has made like,Ipods,Iphones,Mac's and downloads from the App store.This is why Apple is expanding and continues to attract new customers. Apple would not have gotten to this glory day,where everyone knows where and what Apple's creation are .That is why investors in Apple would continue to support the company financially.

Connections

In this article, despite what other people think and put theories as to how it is really weak but there are some temporary factors. in the first chapter, the textbook talk about Financial Accounting Standards Board (FASB) which sets accounting standards for American corporations;there are currently numerous groups involved in the process of trying to devise international accounting standards. The article reports FASB rule change is certainly meaningful when it passes. Even if FASB allows more litheness, but rest guaranteed that a change will come?

Reflection

After reading this article, I think if the Financial Accounting Standards Board (FASB) rule is truly significant and it will have great outcomes if it comes to pass. If FASB allows more flexibility to implement any changes in its accounting then it will assure a change will come.