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Crude Oil Holds Under $93

NEW YORK, (UPI) — Crude oil prices slid back under $93 a barrel on the New York Mercantile Exchange Thursday as the government reported a weekly gain in U.S. stockpiles. Total supplies reached 381.6 million barrels after eight consecutive weeks of inventory increases, the Energy Information Administration said. With supplies at a 22-year high, the […]

Facebook To Start At $38 Per Share

NEW YORK, (UPI) — U.S. Internet giant Facebook said its starting point for its debut as a publicly traded company would be $38 per share. The price, which would raise $18.4 billion, values the firm at $104 billion. Only Visa Inc. has raised more on its first day, the Los Angeles Times reported Thursday. Visa […]

Delinquent Mortgage Loans Drop

WASHINGTON (UPI) — The delinquency rate for U.S. mortgage contracts dropped to 7.4 percent at the end of the first quarter of 2012, a national trade group said. The Mortgage Bankers Association said the rate of homes with payments 30 days past due improved from 8.3 percent, the delinquency rate at the end of the […]

Foreclosures Hit Pre-Recession Level

IRVINE, Calif. (UPI) — U.S. properties in foreclosure fell to their lowest total in April since before the recession, a private online marketplace for distressed properties said. RealtyTrac said one in every 698 U.S. housing units was involved in foreclosures in April, a 5 percent decrease from March and a 14 percent decrease from April […]

Jobless Claims Unchanged In Week

WASHINGTON (UPI) — The number of first-time jobless claims was unchanged in the week ended Saturday, the U.S. Labor Department said The four-week rolling average of first-time claims fell to 375,000, down 4,750 from the previous week, but the number of claims filed in the week, 370,000, was unchanged from the previous week’s revised figure. […]

Leading Economic Indicators Dipped In April

NEW YORK (UPI) — The U.S. index of leading economic indicators fell 0.1 percent in April after six consecutive month of gains, the Conference Board said Thursday. The Leading Economic Index fell to 95.5, following an increase of 0.3 percent in March and a 0.7 percent increase in February. Economists had predicted a 0.1 percent […]

Long-Term Mortgage Rates Hit New Lows

WASHINGTON (UPI) — Average mortgage rates for long-term, fixed-rate loans fell to record lows for the third consecutive week, the Federal Home Loan Mortgage Corp. said. In the week ending Thursday, average rates for 30-year contracts dropped from 3.83 percent to 3.79 percent with 0.7 points. Thirty-year mortgage rates averaged 4.61 percent the same week […]

Record Low Rates Push Mortgage Activity Up

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose 9.2 percent in the week ended Friday with interest rates hitting record lows. The trade group’s Refinancing Index also rose significantly, up 13 percent, the MBA said. Interest rates for 30-year, fixed-rate conforming mortgages fell from 4.01 percent to 3.96 percent with average […]

Eurozone CPI At 2.6 Percent

BRUSSELS (UPI) — The 12-month consumer price index in the 17-member eurozone rose 2.6 percent in April, the European Union’s data office said Wednesday. The inflation rate is 0.1 percentage points lower than March, Eurostat said. For the 27-member European Union, the annual rate of inflation in April was slightly higher at 2.7 percent. Sweden, […]

Industrial Production Rose In April

WASHINGTON (UPI) — Industrial production rose 1.1 percent in April after two months of holding unchanged, the U.S. Federal Reserve said Wednesday. In April, manufacturing output increased 0.6 percent after falling 0.5 percent in March. Manufacturing gains were pushed by a 4 percent gain in automobile production. Excluding vehicles, manufacturing production rose 0.3 percent in […]

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