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Consumer Corner: Foreclosure settlement no magic bullet for economy
WASHINGTON, Feb. 12 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell in the week ending Feb. 12, the Federal Home Loan Mortgage Corp. said Thursday.
The 30-year, fixed-rate mortgage averaged 5.16 percent with an average 0.7 points in the week, down from the previous week's 5.25 percent, Freddie Mac said.
A year ago, 30-year, fixed-rate mortgages averaged 5.72 percent.
At 4.81 percent with an average 0.7 points, the 15-year, fixed-rate average also declined, dropping from the previous week's average of 4.92 percent. A year ago, 15-year fixed-rate mortgages averaged 5.25 percent, the report said.
"Interest rates for 30-year fixed-rate mortgages are almost 1.5 percentage points below 2008's peak ... offering many homeowners an incentive to refinance," said Frank Nothaft, Freddie Mac vice president and chief economist.
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WASHINGTON, Feb. 14 (UPI) --
More U.S. companies agreed to disclose what effects their products had on forests as consumer awareness of deforestation grows, an environmental group said.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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