Business
Consumer Credit Climbed In March
WASHINGTON (UPI) — Consumer borrowing rose in the first quarter of 2013, although credit card debt was little changed, the U.S. Federal Reserve said. The Fed said total borrowing rose 5.75 percent on a seasonally adjusted annual rate with non-revolving credit — which includes auto loans, personal loans and student loans — up 8.1 percent […]
U.S. Treasury Borrows $20 Billion For Free
WASHINGTON (UPI) — Demand for relatively safe four-week Treasury bills pushed yield rates down to zero for the U.S. Treasury. There was $5.42 in bids on the dollar, as the Treasury sold $20 billion in four-week notes. That meant for the first time in almost a year and a half, the Treasury was borrowing money […]
Mortgage Activity Climbs On Lower Rates
WASHINGTON (UPI) — U.S. mortgage activity rose last week as long-term interest rates were mostly lower, the Mortgage Bankers Association said Wednesday. The association said mortgage activity rose 7 percent in the week while refinancing activity rose 8 percent in the week ending Friday. Interest rates for 30-year, fixed-rate conforming mortgages decreased from 3.6 percent […]
Judge Approves $2.43 Billion Bank Of America Settlement
NEW YORK (UPI) — A federal judge in New York approved a $2.43 billion settlement to end claims Bank of America misled shareholders when it purchased Merrill Lynch & Co. Bank of America closed on the purchase of Merrill Lynch in January 2009, having announced it had reached a deal to buy the financial giant […]
Bankrate Says Think Tennessee For Retirement, Unthink Oregon
PALM BEACH, Fla. (UPI) — If money is a factor — and isn’t it always? — the best place to retire in the United States is Tennessee, finance consulting firm Bankrate.com said Monday. The state’s cost-of-living is the second lowest in the country, just behind Oklahoma, information from the Council for Community and Economic Research […]
Treasury To Sell 241.7 Million GM Common Shares
WASHINGTON (UPI) — The U.S. Treasury Department said Monday it would put its remaining 241.7 million shares of General Motors common stock up for sale. The Treasury did not specify a date for a sale, but said there would be opportunity for smaller broker dealers, “including women and minority-owned broker dealers,” to participate. The department […]
Deforestation Threatens Mekong Region
BANGKOK (UPI) — If current deforestation rates continue, the Greater Mekong region in Southeast Asia risks losing more than one-third of its remaining forest cover within two decades, a new report said. The WWF report, “Ecosystems in the Greater Mekong,” says that from 1973 through 2009, the five countries comprising the region — Cambodia, Laos, […]
First-Time Jobless Claims Drop By 18,000
WASHINGTON (UPI) — The U.S. Labor Department said first-time jobless benefits claims dropped by 18,000 to 324,000 in the week that ended Saturday. The department revised last week’s estimate from 339,000 to 342,000. With the addition, using current data, initial claims have dropped by 31,000 in two weeks and by 67,000 over the past four […]
U.S. Trade Gap Narrowed In March
WASHINGTON (UPI) — The U.S. trade deficit narrowed for the second consecutive month in March, the Bureau of Economic Analysis said. After a decline of $2.4 billion in February to a downwardly revised $43.6 billion, the bureau said the trade gap shrank by $4.8 billion to $38.8 billion in March. The gap closed as with […]
U.S. Mortgage Rates Head Lower
WASHINGTON (UPI) — U.S. mortgage rates hovered close to or hit record lows in the latest week, the Federal Home Loan Mortgage Corp. said Thursday. Rates slid for the fifth consecutive week with 15-year fixed rate loans hitting a record low for the second consecutive week, reaching 2.56 percent with 0.7 point, down from 2.61 […]
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