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30-Year Mortgage Rates Jump to 6.67% (Finance, 6 articles)
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Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages rose to 6.37 percent, up from 6.30 percent last week, which had been the lowest level since they were at 6.24 percent the first week of March. A year ago, 30-year mortgages averaged 6.03 percent, 15-year mortgages stood at 6.06 percent, one-year ARMs were at 4.85 percent and the five-year ARMs were at 5.57 percent. The drop in mortgages has spurred a rebound in mortgage applications, driven in part by homeowners with adjustable rate mortgages who want to refinance to a fixed rate before their current mortgages reset to a higher monthly payment. The housing sector is slowing this year under the impact of rising mortgage rates, after five boom years powered by the lowest mortgage rates in decades. Analysts are predicting that sales of new and existing homes will decline by more than 10 percent as higher mortgage rates make homeownership more costly. " General consensus leans heavily toward the notion that the Fed will not raise rates at that meeting, taking upward pressure off mortgage rates this week said Frank Nothaft An energy auditor will identify problems with the home's energy use and suggest ways to reduce utility bills.
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Wholesale prices rose 1 percent in March (Finance, 4 articles)
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NEW YORK - As anxiety intensifies over rising inflation and the pace of economic growth, Wall Street is hungry for more information. Roughly 19 percent of the S&P 500, or 95 companies, are due to report results, including 12 Dow components. NEW YORK - Consumer sentiment fell to its lowest in eight months in April on rising gasoline prices and troubles in the housing market, while inflation expectations also rose sharply, a survey showed on Friday.
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Microsoft Urges Review of Google-DoubleClick Deal (Finance, 6 articles)
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Microsoft, a veteran defendant of epic antitrust battles in the United States and Europe, is urging regulators to consider scuttling Google s plan to buy DoubleClick, an online advertising company. Bradford Smith said in an interview yesterday that Google's purchase of DoubleClick would combine the two largest online advertising distributors and thus " substantially reduce competition in the advertising market on the Web. SAN FRANCISCO Google Inc. and Clear Channel Communications Inc. announced a long-term agreement Sunday that will allow the Internet search leader to place advertising for its online customers on more than 675 Clear Channel radio stations.
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Trade deficit falls for second month (Finance, 4 articles) [UPDATE]
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WASHINGTON Finance officials expressed satisfaction Saturday with the robust expansion of the global economy but said more must be done to correct trade imbalances. In a separate statement, four governments und including the United States and China und renewed promises to enact policies aimed at rebalancing global trade. WASHINGTON - The U.S. trade deficit improved for a second month as oil imports fell sharply and the politically sensitive deficit with China narrowed to its lowest point in nine months.
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blaster@cs.columbia.edu
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