Daily News 2/9/2015
February 09, 2015
Monday – February 9
Oil prices continue to rise after the steep sell-off in recent months. The price for West Texas Intermediate oil is currently near $53/barrel, up from $43 in the past few weeks. The recent rise in oil is pushing prices at the gas pumps higher. The national average price for a regular gallon of gasoline is at $2.17, up from $2.05 a week ago. A spokesman from motor club AAA said that gas prices are increasing due to refinery issues and due to the rise in oil prices. Many refineries conduct maintenance and upgrades in the spring to prepare for the busy driving season, which can reduce production at a time when both driving and gasoline demand rises as the weather improves.
Renters in 2014 paid a record amount, dolling out a collective $441 billion in rent payments, up $20.6 billion, or 4.9% from 2013. In 2014, developers broke ground on the largest number of rental units in 25 years for both single and multi-family rentals, but there is still a shortage. But 2015 could be the year that renters could be looking at purchasing homes due to the recent announcement from Fannie Mae and Freddie Mac on new low down payments. In addition, home loan rates are near record low levels, which could entice renters to look to purchase home in 2015.
Popular online tax preparer TurboTax, has resumed electronic filing of state income tax returns after a rash of fraudulent returns and claim refunds in recent weeks. Early this past Friday it was learned that Minnesota’s revenue department stooped accepting returns via TurboTax due to the fraudulent returns. Taxpayers who were recently using the online tax service said that when they logged into the site, they found that a return had already been filed.
