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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| September 02, 2004 | COPYRIGHT 2004 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

Mortgage applications steady

The Mortgage Bankers Association's index of mortgage activity slipped 0.6% to 642.7 in the week ended Aug. 27. New home loans fell 0.1% to 443.1 while refinancings declined 1.1% to 1,804.1. The average interest rate on a 30-year fixed mortgage fell to 5.75% from 5.78%.

** The average price of a home financed by lending giants Freddie Mac and Fannie Mae climbed 9.4% in the 12 months to June. That's the largest gain since '79. Prices rose 2.2% in Q2 from Q1, with Hawaii and coastal states seeing the biggest jumps.

Poll: Confidence eased last week

The ABC News-Money magazine consumer comfort index fell 2 points to -11 in the week ended Aug. 22 from the previous week. Of those polled, 37% feel confident about the economy, lower than 38% a week earlier. In addition, 59% said their finances are in good shape, the same as the week before.

Euro zone jobless rate steady

The region's jobless rate in July remained at 9%, or 12.7 mil people out of work, the same level as in June, ...

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