Archive for November, 2016

Black Friday/Cyber Monday Online Sales Top Forecasts

Posted on November 28, 2016 by Laura Lam

Black Friday’s blockbuster online sales don’t appear to have come at Cyber Monday’s expense.  As of 10 a.m., retail websites had raked in $540 million on the reigning champion of digital shopping days. That level of spending puts Cyber Monday on pace to reach a record $3.36 billion, on growth of 9.4%, according to Adobe Digital Insights. The firm’s update comes fresh off the heels of a larger-than-expected lift in Black Friday online revenue, which some had worried might eat into Cyber Monday’s sales. Digital revenue on Black Friday rose 21.6% to $3.34 billion, easily topping Adobe’s forecast for $3.05…

2016 Black Friday & Holiday Spending Predictions

Posted on November 25, 2016 by Laura Lam

The holidays (and holiday shopping) are officially here!  Today is Black Friday and Cyber Monday is just three days away.  Thus begins the month-long sprint to Christmas and Hanukkah. Here are this year’s holiday stats and facts that are impacting the shopping experience. Adobe Digital Insights shared its 2016 holiday predictions. It looks like 2016 will be a good year. Black Friday will be bigger than ever. For the first time, sales are expected to exceed $3 billion, an 11.5% increase over last year. Cyber Monday’s sales will exceed $3 billion, an increase of 9.4% over last year. 5% of customers…

Happy Thanksgiving from Saldutti Law Group

Posted on November 24, 2016 by Laura Lam

We hope this Thanksgiving finds you with plenty of reasons to give thanks …  ~ The Saldutti Law Group staff  

Thanksgiving 2016 vs.1966: A Comparison

Posted on November 24, 2016 by Laura Lam

Today is Thanksgiving, a time when Americans gather with family and loved ones to share a traditional meal. Thanksgiving Day, November 24, has remained the same since President Abraham Lincoln first made it a national holiday in 1863, but the menu has changed many times since then. To help you get a better idea of just how much Thanksgiving meals have evolved, here’s a comparison of a Thanksgiving menu in 1966 and a typical menu for this year. Today, the deep fried turkey has become an American Thanksgiving staple.  Although Vogue reported that the dish was first publicly recognized in the 1930s,…

Modest Economic Growth Expected in 2017

Posted on November 22, 2016 by Laura Lam

The U.S. economy is expected to continue growing modestly in 2017, but the unknown about policies to be enacted by President-elect Donald Trump’s administration pose both upside and downside risks, according to Fannie Mae.  Economic growth is still forecast to come in at 1.8% for this year, and a similar pace is anticipated for the following year, said Fannie Mae.  But uncertainty remains about Trump’s approach to economic and housing issues once he assumes office in January. “We haven’t changed the general tone of our forecast at this time, but we will incorporate new policy assumptions as they become more…

Budgeting for a Stress-Free Holiday

Posted on November 21, 2016 by Laura Lam

As the holiday season approaches, life can get downright crazy. Shopping, parties, school programs, buying groceries. With everything on your mind and on your calendar, it’s easy to get the new year with a spending hangover.  Fortunately, it’s easy to keep up with your money and avoid overspending. It just takes a little time and intentionality. Here’s how: Start thinking of gift ideas now.During the holidays, stores are competing for your business. So if a specific item isn’t on sale at one place, chances are it will be on sale somewhere at some point this season. The sooner you know what…

What are Bank’s Top Weapons for Cyber Defense?

Posted on November 17, 2016 by Laura Lam

There is no disputing that cybersecurity is a top concern for banks today.  Spending on digital protection continues to be one of the top line items in banks’ tech budgets.  Some banks are trying to be more than reactive, completely rethinking how they’re approaching cybersecurity. Instead of looking to build a fortress, banks are seeking a bigger grasp of the threats they face and developing strategies that go beyond pure defense. Some banks are pairing with auditing firms to anticipate vulnerabilities and prepare for regulatory IT exams so that they can fix areas with issues and prevent them from occurring…

Is the Future of the CFPB at Stake?

Posted on November 16, 2016 by Laura Lam

Republican lawmakers and big names on Wall Street have been trying to weaken or abolish the Consumer Financial Protection Bureau since it was created more than five years ago.  Now they might actually have some leverage. President-elect Donald Trump says he would “dismantle” Dodd-Frank, the legislation that gave birth to the federal consumer watchdog. His election, combined with the Republican sweep in Congress, gives leverage to the lawmakers and financial groups looking to rein in the independent agency’s powers. The unfriendly environment in Washington is coming just weeks after the CFPB was dealt another major blow. Last month, a federal appeals court ruled that…

U.S. Mortgage Rates Rise Post Election

Posted on November 15, 2016 by Laura Lam

The average interest rate on U.S. 30-year fixed-rate mortgages rose to its highest level in five months with rising Treasury yields, according to mortgage finance agency Freddie Mac. U.S. mortgage rates rose again this week, though still hover around historically low levels, according to Freddie Mac.  The 30-year fixed mortgage averaged 3.57% for the week ending Nov. 10, up from 3.54% the previous week.  A year ago, mortgage rates stood at 3.98%. Favorable mortgage rates played a role in moving U.S. home sales forward, as well as driving the refinance market.  “This week’s survey reflects pre-election market conditions,” said Sean Becketti, chief…