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U.S. home values have hit bottom, Zillow says
SEATTLE — U.S. home values have risen four consecutive months, Zillow.com said on Tuesday, a trend that led the housing website to declare that the market has turned the corner from its five-year slump. “After four months with rising home values and increasingly positive forecast data, it seems clear that the country has hit a […]
Mortgage rate falls to record low 3.79%
WASHINGTON — Average U.S. rates for 30-year and 15-year fixed mortgages fell to record lows for the third straight week. The steady decline has made home-buying and refinancing more affordable than ever for those who can qualify. Mortgage buyer Freddie Mac says the rate on the 30-year loan dipped to 3.79 percent. That’s down from […]
Economy improving, but rates staying low
WASHINGTON — The job market’s gains may endure. Record-low interest rates will, too. Those signals emerged Tuesday from the Federal Reserve after its latest policy meeting. The Fed sketched a slightly sunnier view than it did in January, when it announced a plan to hold short-term rates near zero through 2014 to help the economy. […]
Realities of Real Estate: Mortgage rates hit all-time low
With the exception of those fortunate few who can pay cash, the ups and downs of the mortgage industry are an integral part of buying a home. Sometimes qualification standards are low, but interest rates are high; and other times, such as today, interest rates are low, but qualification standards are high. Furthermore, the federal […]
Maryland Mortgage Program rate at record low
The Maryland Department of Housing and Community Development said Monday the interest rate for the state’s flagship mortgage financing program, the Maryland Mortgage Program, has dropped to 3.5 percent, the lowest level in its history. The program is primarily targeted to first-time homebuyers and purchasers of foreclosed and short-sale homes. The drop follows the national […]
Bank of America shares at two-year low below $10
NEW YORK — Bank of America shares hit a two-year low Monday. The stock fell 3.6 percent in midday trading, hitting a low of $9.53. It is the only large bank with a share price in the single digits. Most bank stocks fell Monday on fears about the effect of a potential U.S. government debt […]
May manufacturing activity cooled to 20-month low
WASHINGTON — U.S. manufacturing activity expanded in May at the slowest pace in 20 months, the latest sign that a sharp rise in energy prices is hampering economic growth. The Institute for Supply Management, a trade group of purchasing executives, said Wednesday that its index of manufacturing activity fell to 53.5 percent in May from […]
Trade deficits narrows to 9-month low in October
WASHINGTON — The U.S. trade deficit fell to its lowest level in nine months, as growing demand for American goods overseas and a falling dollar pushed exports to their highest level in more than two years. The trade deficit narrowed to $38.7 billion in October, the Commerce Department reported Friday. The figure was 13.2 percent […]
