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The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.48 percent, down from 5.58 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages fell to 4.87 percent from 5.01 percent, and 5-1 adjustable rate mortgages also fell to 4.65 percent, down from 4.73 the week prior.

The economic crisis is likely to cause the first major fall in the number of migrants coming to work in OECD countries since the 1980s, according to a new OECD report. This is already happening, for example, in Ireland, Spain and the UK, which were among the countries first hit by the downturn.

The annual rate of growth of M3 decreased to 3.7% in May 2009, from 4.9% in April 2009. The threemonth average of the annual growth rates of M3 over the period March 2009 - May 2009 decreased to 4.5%, from 5.2% in the period February 2009 - April 2009.

The world economy is being buffeted by several shocks. The United Kingdom, like most OECD economies, is in a deep recession. House prices are falling after an extended period of large increases which left many households over-extended. Financial conditions are tight, and the financial market crisis has threatened the stability of the financial system. External conditions are also highly unfavourable. The recovery is likely to be slow and unemployment is expected to climb significantly. Both monetary and fiscal policies have eased to cushion the severe downturn with the policy rate now at historically low levels and quantitative easing measures under way. The authorities have also moved quickly to introduce a wide range of measures to stabilise the financial system.

Fitch Ratings says in a new report that the global economy has likely stopped shrinking and will slowly begin to recover during the second half of this year. However, economic recovery will be anaemic and unemployment will continue to rise through most of next year and, consequently, the world's major central banks are not expected to begin raising policy interest rates until late 2010 at the earliest.

Global purchases of IT goods and services by businesses and governments in 2009 are projected to decline by 10.6 percent when measured in US dollars, compared with the 3 percent decrease previously projected at the beginning of the year by Forrester Research, Inc..

The 2010 fiscal year begins for most states July 1. It brings an austere continuation of recession-driven cuts in essential services and poor prospects for improvement through 2011, according to a series of updated reports on state budget conditions issued by the Center on Budget and Policy Priorities.

Over the past few months, Americans have watched as financial institutions have received government bailouts, or been shut down and have had to close their doors due to the economic crisis. It is perhaps not surprising then that almost three in five Americans (58%) say they do not consider any of nine financial institutions and insurance companies to be honest and trustworthy; that is, they would not believe a statement by someone who works for one of these companies.

While the term "data-stealing malware" is a relatively new one, its sole purpose for existence is a familiar story: To steal proprietary information such as online banking credentials, credit card numbers, social security numbers, passwords, and more from compromised networks and PCs in order to fuel an underground cyber crime economy driven by profit-seeking criminal networks that cross geopolitical boundaries.

Online advertised vacancies declined 66,700 to 3,294,800 in June, according to The Conference Board Help-Wanted Online Data Series (HWOL)™ . In the five months since January, online labor demand has dropped a relatively modest 71,000, in sharp contrast to the 1,200,000 decline in the previous five months from August 2008 to January 2009.