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Interest rates 'hit retail sales'
Interest rates 'hit retail sales' - Trends
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A good news-bad news scenario continues on the housing front, with mortgage interest rates dropping again to record lows, according to the latest survey by home-loan buyer Freddie Mac . The bad news: With the winding down of government stimulus programs, even fewer people are taking advantage of the eye-popping rates to buy homes. The lenders that Freddie surveyed early this week were offering well-qualified borrowers 30-year fixed loans for up to $417,000 at an average rate of 4.58%, the lowest since the survey began in 1971. For 15-year fixed-rate mortgages the average was 4.04%. Adjustable-rate loans with the first five years ...
The U.S. Dollar had a mixed performance last week, rising sharply against the commodities currencies, where it gained 3.9% versus the Aussie, 3.6% against the Kiwi and a slightly less dramatic 2.5% vis-à-vis the Loonie. Nevertheless, the Greenback declined 1.5% and 0.9% against the Euro and Sterling respectively, and the Dollar also fell sharply against the Yen by 2.3%. Furthermore, Gold also had a major reality check, dropping over $60 per ounce at one point last week and settling at $1,207.70 per ounce for the Comex August gold futures contract on Friday. Crude oil was also down ... Read More
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INTEREST RATES 'HIT RETAIL SALES'
HENRY PAULSONS CROOKSBOOK: warns of more bankruptcies, more banks will fail, the ...
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