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U.S. mortgage rates rise again
The 30-year fixed rate rose 6 basis points to 7.02% this week. The 15-year mortgage rose 7 points to 6.51%. One-year adjustables rose 2 points to 5.12%. A year ago, the 30-year rate was 7.09%, the 15-year mortgage 6.66% and the ARM 6.5%.
IMF happy with Argentina talks
Emergency talks over how to get Argentina out of its economic crisis have been productive, but no date has been set for discussions on a new loan, the IMF said. The two sides began talks in Buenos Aires on Wednesday, responding to appeals from Argentina for the IMF to resume lending.
Canada's GDP rose 0.2% in Nov.
Our northern neighbor's economy expanded for a second straight month, fueled by strong auto sales. Low interest rates, due to sharp cuts by the Bank of Canada in 2001, fueled housing. Auto sales jumped on 0%-interest deals. The government reported strength in computers and travel industries. It noted weakness in oil and gas exploration, due to lower energy prices, and said manufacturing output also declined slightly.
Dollar surges as optimism grows