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September 9, 2010
WASHINGTON - Mortgage rates mostly edged up last week as investors' fears about the economy eased.Mortgage buyer Freddie Mac says the average rate for a 30-year fixed loan was 4.35 percent, up from 4.32 percent the week before. Last week's was the lowest number since Freddie Mac began tracking rates in 1971.
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Is another federal home-buyer tax credit coming?We think it's important for the market to have time to recover on its own," says Walter Molony, spokesman for the National Association of Realtors.Bernard Markstein, senior economist with the National Association of Home Builders, says a new credit is neither likely nor desirable.
September 8, 2010
WASHINGTON - The number of people signing up for unemployment benefits dropped to the lowest level in two months, an encouraging sign that companies aren't resorting to deeper layoffs even as the economy has lost momentum.The Labor Department reported Thursday that new claims for unemployment aid plunged last week by a seasonally adjusted 27,000 to 451,000. Concerns about a possible new recession had arisen after a batch of downbeat reports in August.
September 9, 2010
The economy was still growing in August, though not quite as robustly as it had been earlier in the year, the Federal Reserve's monthly "Beige Book" report on business conditions nationwide said Wednesday. "Reports from the twelve Federal Reserve Districts suggested continued growth in national economic activity during the reporting period of mid-July through the end of August, but with widespread signs of a deceleration compared with preceding periods," declared the report, prepared by the San Francisco Fed based on reports from businesses and outside economists.
September 8, 2010
Sept. 06--In 2007, a booming construction industry employed about one in every 15 workers in South Florida, a total of more than 160,000 people. Three years later, one out of 24 workers are employed in construction. Throw in the jobs lost in related fields such as real estate agents, architects, mortgage brokers, landscape designers and appraisers and there's no doubt on this Labor Day what employment sector is hurting the most.
September 6, 2010
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