In today's news: Oil prices go up again but gas prices finally drop some, 401(k) rules may get stricter, the government wants your advice about mortgage paperwork, used car prices are revving up, and Android phones might have an awful flaw.
Just yesterday, we reported that oil prices dropped but gas prices hadn’t yet. Today? “Oil climbed more than 3 percent on Wednesday in a broad commodities rally, while gasoline pump prices continued to fall across the country,” USA Today reports. Go figure.
Some U.S. senators want to limit your ability to use your 401(k) for emergencies. “Workers will be limited in tapping their 401(k) retirement plans for loans under legislation two senators plan to introduce today that’s designed to counter the erosion of retirement assets,” Bloomberg reports.
If you know a better, simpler way to apply for a mortgage, Uncle Sam wants you. “A federal consumer watchdog is trying to make it easier to comparison shop for a mortgage, USA Today reports. “It’s asking for the public’s feedback on how to simplify the paperwork borrowers receive when applying for a home loan.”
If you have an old car, this is the best time to sell it. “Dealers are paying an average of $11,660 for a used car or truck, up almost 30 percent since December 2008,” MSNBC reports. The reason? “People are holding on to cars and trucks for about a year longer than they did before the recession, which has created a tight supply of used vehicles.”
A new security threat has been discovered in 97 percent of Android phones. “Researchers found that users of Android devices running versions 2.3.3 and below could be susceptible to attack when they are connected to unencrypted Wi-Fi networks,” CNN reports. “Anyone else on that network could gain access to, modify or delete Android users’ calendars, photos and contacts.”