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THE ECONOMY.(TO THE POINT)
Construction hits record in April
U.S. construction spending jumped 0.5% to a record $1.067 tril annual rate. Economists expected 0.7%. Ongoing low mortgage rates continue to fuel construction. Businesses looked more confident as private nonresidential construction added 1.3% to $233.26 bil, its fastest growth since May '02.
Home prices up 12.5% over year
The Office of Federal Housing Enterprise Oversight said low mortgage rates, income growth and speculation in some markets pushed prices up. Home values appreciated another 2.21% in Q1 over Q4 '04, or an annualized rate of 8.82%.
** Mortgage applications fell last week despite lower mortgage rates. The Mortgage Bankers Association's index was off 2.8% to 709.1 after a 4.3% gain last week. Fixed 30-year mortgages averaged 5.61% last week vs. 6.24% a year ago.
** Consumer confidence rose in the week of May 29 on lower gas prices, the ABC News/Washington post consumer comfort index showed. It rose to -13 from ...
- Thai Central Bank Warns Borrowers to Prepare for Higher Mortgage Rates.
- Newspaper article from: Knight Ridder/Tribune Business News June 4, 2004 700+ words
...Thailand yesterday. Atchana Waiquamdee, a central bank assistant governor, said that while...mortgages with fixed-rate loans. But the central bank said borrowers should be prepared for...percent to 6 percent. Analysts expect the central bank to eventually raise rates by up to a...
- AUSTRALIAN BANKS REVIEW MORTGAGE RATES AFTER RBA HIKES CASH RATE.
- News wire article from: AsiaPulse News November 7, 2007 700+ words
...today. The banks were today reviewing their mortgage rates, after the central bank lifted the key cash rate to 6.75 per cent...Ltd (NAB) (ASX:NAB) said its variable mortgage rates and credit card rates were under review...
- SUNCORP REVIEWING MORTGAGE RATES AFTER OFFICIAL CUT.
- News wire article from: AsiaPulse News February 3, 2009 700+ words
...SYDNEY, Feb 3 Asia Pulse - Banking and insurance group Suncorp-Metway Ltd (ASX:SUN) is reviewing its mortgage rates after the central bank cut the cash rate. "Our rates are being reviewed," Suncorp spokesman Jamin Smith said. Brisbane...
- BIG FOUR AUSTRALIAN BANKS REVIEWING MORTGAGE RATES.
- News wire article from: AsiaPulse News February 3, 2009 700+ words
...Feb 3 Asia Pulse - Australia's biggest four home loan lenders are reviewing their are reviewing their mortgage rates after the central bank cut the cash rate. "Our rates are under review," Commonwealth Bank of Australia Ltd (ASX:CBA...
- United States: US Mortgage Rates Drop to 5.2%, Freddie Mac Says.
- News wire article from: TendersInfo July 11, 2009 700+ words
...don t think mortgage rates are going to...loans. The central bank is trying to...statement June 24. Mortgage rates reached a record...April after the central bank announced its...at a profit. Mortgage rates started climbing...
- Mortgage rates rise for third week
- Newspaper article from: The Washington Post October 31, 2009 700+ words
...loans in order to encourage lower mortgage rates. It increased the size of that program...a profit. The plan helped drive mortgage rates to a record low of 4.78 percent twice in April. The central bank's purchasing program is scheduled...
- Mortgage rates post highest rise in two years on key rate hike.
- News wire article from: YON - Yonhap News Agency of Korea November 27, 2005 700+ words
...key rate hike, the central bank said Sunday. According...since South Korea's central bank raised its key interest...63 percent, the central bank said. It was also...consecutive rise in the mortgage rates since June, when it...
- S.KOREAN MORTGAGE RATES LOG HIGHEST RISE IN TWO YRS ON RATE HIKE.
- News wire article from: AsiaPulse News November 28, 2005 700+ words
...key rate hike, the central bank said Sunday. According...since South Korea's central bank raised its key interest...63 per cent, the central bank said. It was also...consecutive rise in the mortgage rates since June, when it...