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Long-Term Mortgage Rates Hit Lows

WASHINGTON (UPI) — Average mortgage interest rates for long-term, fixed-rate loans matched record lows in the week ended Thursday, the Federal Home Loan Mortgage Corp. said. Average rates for 30-year contracts held at 3.66 percent with 0.7 points, maintaining a record low. Thirty-year mortgage rates averaged 4.51 percent the same week of 2011. Average rates […]

Retail Rises In Week With Help From Heat

WASHINGTON (UPI) — U.S. retail receipts jumped 2 percent week to week, and 2.7 percent from the same week a year earlier, a trade group said Tuesday. The International Council of Shopping Centers said sales were “considerably stronger” at apparel stores in the week ending Saturday. Sales also gained and wholesale clubs and specialty stores, […]

Durable Goods Orders Rebounded In May

WASHINGTON (UPI) — The Commerce Department said U.S. durable goods orders rose 1.1 percent in May, a gain that exceeded the 0.4 percent rise economists expected. New orders in May rose to $217.2 billion following two consecutive months of declines, including a 0.2 percent drop in April. Transportation orders in May had the largest increase, […]

Mortgage Activity Down With Rates Mixed

WASHINGTON (UPI) — U.S. mortgage applications fell 7.1 percent in the week ending Friday with interest rates mixed, the Mortgage Bankers Association in Washington said. U.S. mortgage applications rose, while the trade group’s Refinancing Index fell 8 percent from the previous week. “Refinance volume fell last week due largely to a fall-off in refinance applications […]

Pending Home Sales Jumped In May

WASHINGTON (UPI) — The Pending Home Sales Index, a U.S. economic indicator, climbed in May to the highest level in two years, the National Association of Realtors said Wednesday. The index rose 5.9 percent in May to 101.1, up from 95.5 in April. Annual gains were also strong with monthly and 12-month gains noted in […]

Poll: Confidence In Banks Hits Record Low

PRINCETON, N.J. (UPI) — Confidence in U.S. banks has dropped to a record low in an annual survey, research firm Gallup said Wednesday. While confidence in banks fell from 23 percent in 2010 to 21 percent in 2012, banks actually tied for third from the bottom on a list of 16 U.S. institutions, Gallup said. […]

U.S. Home Prices Up Month-To-Month

NEW YORK, (UPI) — U.S. home prices rose month-to-month after seven months of declines in the Standard & Poor’s/Case-Shiller report, the firm said Tuesday. Home prices rose 1.3 percent March to April in both the 10-city and 20-city indexes, but fell 2.2 percent in the 10-city index and 1.9 percent in the 20-city index from […]

Markets Open Flat

NEW YORK, (UPI) — U.S. markets opened flat Tuesday after a closely watched index on U.S. home prices showed April prices declined, but not as much as expected. Home prices in the S&P/Case-Shiller 20-city index showed an annual decline in April of 1.9 percent. Economists had expected a 2.5 percent drop. Investors also remain wary […]

Crude Oil In Holding Pattern

NEW YORK, (UPI) — West Texas Intermediate crude oil held to less than $80 per barrel Tuesday ahead of a European summit that could alter the economic landscape of the eurozone. Regardless of the odds of a radical policy shift, which is not widely expected, traders are hunkering down, likely to avoid big moves until […]

ITT Exelis Tests Coastal Radar System

VAN NUYS, Calif., (UPI) — U.S. company ITT Exelis reports the successful preliminary acceptance testing of the first radar system supplied to Sweden to enhance coastal surveillance. “This is a critical milestone for Exelis and the Swedish armed forces as it marks the official start of enhancing Sweden’s ability to defend its entire coastline,” said […]

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