Consumer Minute: New mortgage rules in effect and retailers' report card

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by Sandra Parker, 13 News Now

WVEC.com

Posted on January 10, 2014 at 11:53 AM

Updated Friday, Jan 10 at 12:01 PM

New rules for mortgage lending go into effect today.  Federal regulators say these new rules will guard against the risky practices that led to the greatest collapse in the housing market since the Great Depression. There won't be much impact for most home loan borrowers who are trying to get a mortgage.  You may have to show more proof that you can afford your monthly mortgage payments.

Some of the nation's largest retailers are getting what you might call a report card. It seems a recent survey shows holiday shoppers say they were most satisfied with Amazon and LL Bean.  They put Abercrombie and Fitch and Walmart near the bottom of the list.

Today's the last day of the Consumer Electronics Show in Las Vegas.  One of the unique products coming out of it is "Elektra Nails."  The artificial fingernails are made of a patented, fiber material which allows wearers to use them like a touchscreen stylus.   In case you're interested, "Elektra Nails" goes on sale in March. 

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