Business
Builder Confidence Rises Slightly
WASHINGTON, Dec. 19 (UPI) — Builder confidence in the U.S. market for newly built, single-family homes rose slightly in December, a national housing market index indicated. The National Association of Home Builders/Wells Fargo Housing Market Index gained for the third consecutive month, adding 2 points to reach 21, the trade group said. The index remains […]
CPI Up Slightly
WASHINGTON, Dec. 16 (UPI) — The Consumer Price Index for core prices rose 2.2 percent in November on an annual basis, one tick higher than October and within range of a federal target. Core prices, which exclude food and energy items, rose 2.1 percent on a 12-month basis. The U.S. Federal Reserve’s target is for […]
Savings Bonds To Go Digital
WASHINGTON, Dec. 16 (UPI) — The U.S. Treasury Department said bank sales of paper savings bonds will convert to an all-digital system in 2012. The switch is part of the department’s “all-electronic initiative,” which was begun last year by the Bureau of Public Debt. The change to an all-digital system for savings bonds that used […]
WTO Gives Russia Membership
GENEVA, Switzerland, Dec. 16 (UPI) — Trade ministers at the World Trade Organization have agreed to allow Russia entrance into the 153-member international trade group. The agreement puts an end to a glaring omission in the WTO, as Russia has become an increasingly important gas and oil exporting nation that has critical political influence in […]
Industrial Production Drops Slightly
WASHINGTON, Dec. 16 (UPI) — Industrial production fell 0.2 percent in November after rising 0.7 percent in October, the U.S. Federal Reserve Board said. Manufacturing output dropped 0.4 percent, while production at mines rose 0.1 percent in the month. Output at utilities rose 0.2 percent after three consecutive months of declines, the Fed said Wednesday. […]
Former Fannie, Freddie Executives Charged
WASHINGTON, Dec. 16 (UPI) — U.S. finance regulators have charged former executives of the nation’s largest mortgage brokers with misleading investors about their risky mortgages holdings. The Securities and Exchange Commission filed the charges in Manhattan against former Federal Home Loan Mortgage Corp. Chief Executive Officer Richard Syron and two other former Freddie Mac executives, […]
Report: U.S. Postal Service Tops Worldwide
LONDON, Dec. 15 (UPI) — The troubled U.S. Postal Service has the highest ranking among universal postal service providers, a British study released Thursday indicates. The Oxford Strategic Consulting review found that the U.S. Postal Service, which is considering cutbacks in delivery service, facilities and personnel to overcome a multibillion dollar debt, was at the […]
First-Time Jobless Claims Down Last Week
WASHINGTON, Dec. 15 (UPI) — Initial unemployment claims fell 19,000 to a seasonally adjusted 366,000 for the week ending Dec. 10, the U.S. Labor Department said Thursday. The previous week’s revised figure was 385,000, the department said in a release. The four-week moving average was 387,750, a drop of 6,500 from the previous week’s revised […]
30-Year Mortgage Rate Ties Record Low
WASHINGTON, Dec. 15 (UPI) — The average fixed mortgage rates are at or near all-time lows, Freddie Mac said Wednesday. The 30-year fixed rate of 3.94 percent matched a record low set Oct. 6, and the 15-year fixed rate of 3.21 percent set a record low, the Federal Home Loan Mortgage Corp.’s Primary Mortgage Market […]
Foreclosures Down 3 Percent In November
IRVINE, Calif., Dec. 15 (UPI) — Foreclosure filings on U.S. properties fell 3 percent in November from the previous month and 14 percent from November 2010, RealtyTrac said Thursday. The report also indicated one in every 579 U.S. housing units was in foreclosure during the month. “Despite a seasonal slowdown similar to what we’ve seen […]
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