THE ECONOMY.(TO THE POINT)

U.S. mortgage rates keep falling

U.S. 30-year mortgage rates fell to 6.55% this week from 6.63% last week, Freddie Mac said. That's the lowest since Nov. 16, when it stood at 6.51%. The 15-year rate fell 7 basis points to 5.99%. That's the lowest since Nov. 8. But rates for one-year adjustables edged up 1 point to 4.61%. Low mortgage rates have helped keep home sales and refinancing activity at high levels.

Funds pare down U.S. exposure

Worried still more firms will become enmeshed in scandals, 12 fund families cut their weightings for U.S. stocks to 48.1% of their holdings in June from 49.8% in May, a Reuters survey found. They also cut Treasury …