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THE ECONOMY.(TO THE POINT)
Low rates lift home loan demand
The Mortgage Bankers Association's mortgage application index climbed 9.2% last week. The refinance index rose 16.1%. The purchase application index, which measures demand for loans to buy a home, rose 4.8% to a near-record level. The 30-year fixed mortgage was 6.82% last week. That's the fourth straight week below 7%.
Homeowners cash out on refis
Among U.S. homeowners refinancing mortgages in Q1, 61% squeezed equity from their homes, says mortgage lender Freddie Mac. That's up from 51% a year ago and 48% in Q4. Low loan rates and rising home prices have spurred the cash-out refinancing. Cash-outs give consumers more money to pay down debt or spend on cars and other items.
Homes less affordable in Q1
Rising home prices and a spike in interest rates were to blame, a real estate industry group said. The National Association of Realtors said its housing affordability index slipped to 137.2 in Q1 from 141.0 in Q4 and 140.2 a year ago. Lean housing inventories and strong demand have boosted the median price of an existing home 8% from a year ago, the NAR said.
Study blasts subprime home loans
- GOP Using Debt Ceiling to Leverage Balanced Budget Plan
- Transcript from: NPR Morning Edition January 17, 1996 700+ words
...urging their leadership not to raise the debt ceiling until President Clinton agrees to sign...they'll vote to raise the federal debt ceiling, which could reach another crisis point...over the weekend that he thought the debt ceiling would be raised regardless of what happens...
- No Deal on Debt Ceiling Comes From GOP-Clinton Talks
- Transcript from: NPR All Things Considered November 1, 1995 700+ words
...no agreement on extending the federal debt ceiling resulted. Neither side wants to hurry...Congress will need to vote to extend the debt ceiling in order to allow the government to...doing in there was to talk about the debt ceiling, how they would avoid this government...
- DEBT CEILING FIGHTS RECALL THE REAGAN YEARS.(MAIN)
- Newspaper article from: Albany Times Union (Albany, NY) November 5, 1995 700+ words
...measures to increase the $4.9 trillion debt ceiling temporarily until early December to...approval of a permanent increase in the debt ceiling and federal spending to pressure Clinton...by 2002. Without an increase in the debt ceiling, the Treasury said it cannot pay...
- Congress tiptoes around raising debt ceiling: Rules of fiscal restraint may be...
- Newspaper article from: The Christian Science Monitor April 8, 2002 700+ words
...an administration tried to raise the debt ceiling without going through Congress, it...an absolute obligation to raise the debt ceiling, and will eventually have to do it...which would be the consequence if the debt ceiling were broken. But the threat of that...
- Debt Ceiling: Analysis of Actions Taken During the 2003 Debt Issuance...
- General Accounting Office Reports & Testimony June 1, 2004 700+ words
...Treasury) to avoid exceeding the debt ceiling during the 2003 debt issuance suspension...all major accounts that were used for debt ceiling relief have been properly credited or...not be issued without exceeding the debt ceiling. During this period, which lasted...
- Congress should schedule vote on debt ceiling.
- Newspaper article from: The Dallas Morning News (via Knight-Ridder/Tribune News Service) May 23, 2002 700+ words
...clean vote on increasing the nation's debt ceiling. Congress will likely reach the $5...that contains vague references to the debt ceiling. No call to arms. Just acknowledgment...numbers in the spending bill to raise the debt ceiling. Not a good plan. We understand why...
- Congress should schedule vote on debt ceiling.(Knight Ridder/Tribune News...
- Newspaper article from: Knight Ridder/Tribune News Service May 23, 2002 700+ words
...clean vote on increasing the nation's debt ceiling. Congress will likely reach the $5...that contains vague references to the debt ceiling. No call to arms. Just acknowledgment...numbers in the spending bill to raise the debt ceiling. Not a good plan. We understand why...
- House approaches vote of temporary $30 million rise in debt ceiling.
- Magazine article from: The Bond Buyer Morrison, Joanne November 6, 1995 700+ words
...package that would include both the debt ceiling hike and an extension of a temporary...the Treasury would exceed the current debt ceiling on about Nov. 15 and might default...also considering extending the public debt ceiling through Dec. 5 or Dec. 6. Domenici...
