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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| May 01, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Homeowners cash out Q1 gains

U.S. homeowners cashed out over $24 bil in home equity in Q1, borrowing against rising home values. But Freddie Mac said these cashouts "hardly made a dent" in the $6 tril in equity in one-family homes. In '02, homeowners cashed out $96 bil in home equity vs. $84 bil in '01.

Consumer sentiment edges down

The ABC News/Money magazine consumer comfort index fell 4 points to -19 this week. In the prior four weeks, the index had risen 13 points from a long-term low. The index followed a similar pattern after the '91 Gulf War.

** June crude rose 0.56 to $25.80, ending a six-day fall amid a lower-than-expected rise in U.S. inventories, Nigeria strife and OPEC ...

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