U.S. commercial real estate has been one of the most sour topics for financial markets in recent months but few would know it given the outperformance of bonds supported by office buildings, shopping centers and apartments.

A rally fueled by cheap valuations and government programs in commercial mortgage-backed securities has been underway since March and accelerated this month. Year-to-date returns pushed above 20 percent over benchmark government securities, according to Barclays Capital indexes.

Gains are remarkable as falling revenue from commercial properties and a severe shortage of financing continue to darken the outlook, which has been cited by banks including Goldman Sachs Group Inc. for reducing second-quarter profit.

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FOR YEARS, the public has successfully lobbied state legislators to mandate insurance coverage for everything from fertility treatments to mental-health care. The effect of this has been to provide more comprehensive insurance than in most other states but also to raise costs. Now that the state requires that businesses offer insurance and that individuals buy it, the Legislature should discipline itself by sending all proposals for mandates to an existing panel that weighs their cost and effectiveness.

Providing cost-benefit analyses of proposed mandates is already a responsibility of the Division of Health Care Finance and Policy. While legislators generally request a review by the agency before a mandate becomes law, that should be a requirement.

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Changes in the appraisal process can make buying, selling and refinancing a challenge at a time when the housing market is struggling to come back.

Bill and Sheri Wallace had already moved out of their Rosemount home and were two days away from closing on it when an appraisal came in $215,000 less than the agreed-to sale price of $645,000.

The would-be buyers backed out. Now, the Wallaces, who were downsizing to a smaller house now that two of their three children are off to college, are paying two mortgages on top of costs to stage the house, a nearly 5,000-square-foot Craftsman-style with a pool that’s back on the market for $650,000.

Their real estate agent blames a new federal mandate meant to tighten up a faulty appraisal process that has been criticized for inflating home values and contributing to the housing meltdown.

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Fatal wrecks involving teen drivers have declined for five consecutive years in Texas, a trend researchers credit to tougher driver’s license laws and safe-driving campaigns in schools.

Drunken driving is the fifth most likely cause of fatal crashes involving teen drivers, a report released Monday shows. Alcohol impairment takes a back seat to driving at night; speeding and racing; distractions, such as talking and texting on a cellphone; and low seat-belt use.

In 2007, 419 people in Texas were killed in crashes involving drivers ages 16 to 19, down from 625 deaths in 2002. The numbers indicate that the state’s graduated license requirements are working, say officials at the Texas Transportation Institute, which wrote the report. Since 2002, young drivers have steadily been granted more driving privileges, such as driving alone or at night, after they have gained six to 12 months of experience.

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Commercial real estate values around the country have dropped 35 percent from their peak in October 2007, according to Moody’s REAL Commercial Property Price Indices.

The decline appears to be accelerating as the index dropped more than 15 percent during April and May. Transactional volume also fell along with value, which is showing signs of effects from distressed sales.

“May marked a new low for both counts,” the report said.

Along the lines of kicking a sector when it’s down, a rise in interest rates caused several deals to unravel, hitting apartment sales the hardest.

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Interest rates are down and it’s tempting to refinance your mortgage. But refinancing is only a good idea under the right circumstances. Consider the following when deciding if the time is right.

Know how much it will cost

When you refinance, you take out a new, cheaper loan and use the proceeds to pay off your old mortgage. Whenever you borrow money, there will be costs involved. These might include points — or a percentage of the loan amount — that you will have to pay the bank or other mortgage holder, as well as attorney costs and other fees.

Do your homework to find out what the fees will be.

Next, figure out how much you will save each month by refinancing. Given the loan fees and what you might save, does the refinancing still seem like a good deal?

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Connecticut plan could be in place by 2012

Critics say it’s too expensive at $1 billion a year

Lawmakers in Connecticut are moving ahead with plans for universal healthcare in the absence of federal legislation, following the lead of a pioneering law in neighboring Massachusetts.

As the Obama administration and Democratic leaders in the U.S. Congress struggle to find support for a plan to extend healthcare to millions of Americans, Connecticut is one of a handful of states seeking to go it alone and reverse a trend that has left more than 47 million Americans uninsured.

The Democratic-controlled legislature overrode a veto by Republican Governor Jodi Rell on Monday to create a nine-member board to craft a universal healthcare system.

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Local experts say people should prepare for more trouble

With the commercial real estate market in decline, many people wonder if it’s hit rock bottom.

Not by a long shot, according to the folks at Tucson Realty and Trust.

“Across the country, there’s going to be a tsunami of commercial mortgages that will default,” said Hank Amos, president of Tucson Realty and Trust.

Tucson Realty and Trust offered its mid-year report last week, when company representatives gave their predictions for the local commercial real estate market.

According to prognostications, a wave of foreclosures similar to that left people in the home market drowning in a sea of debt and creditors scrambling for the lifeboats is pressing down on the commercial market.

As commercial property values fall and businesses struggle to make ends meet, companies that rent properties will fight to pay the rent and owners to make their mortgage payments. Amos said that’s a recipe for disaster once banks begin to call in the notes on the properties.

Added to that, banks have been stingy with financing.

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At this time next year, it will be illegal for Wisconsin motorists to drive without insurance.

But exactly how many will obey the new law and obtain a policy is anyone’s guess.

That’s because, in part, the mandatory auto insurance law just approved as part of the state budget won’t make motorists prove they have insurance unless they are pulled over by police for an unrelated traffic violation.

Also working against buying insurance: the cost.

Advocates for the poor say people who now are driving without insurance will be even less able to afford it because changes in the law make minimum coverage more expensive.

But 48 other states already have mandatory auto insurance – New Hampshire is the last holdout – and the public wants it here, too, said state Sen. John Lehman (D-Racine).

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First-time homebuyers and those thinking about refinancing are in a sweet place.

Mortgage rates just fell for the third straight week, according to mortgage finance firm Freddie Mac.

“The credit markets are still tight, but they have loosened up significantly from 90 days ago,” said Scott Norman, vice president of the Texas Mortgage Bankers Association.

So is this a good time to enter a mortgage transaction? It might be, if you can qualify.

“The two biggest issues are going to be credit and down payment,” Norman said. “Those are really going to trigger your ability to get a mortgage in a decent amount of time.”

Here’s what you’re up against in specific mortgage situations and what you can do to increase your chances of getting a deal done.

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