RATES AT RECORD LOW: Average U.S. mortgage rates fell to fresh record lows this week, a trend that is boosting home sales.THE NUMBERS: Mortgage buyer Freddie Mac said the average 30-year loan rate dipped to 3.31 percent, the lowest on records dating back to 1971. The average on the 15-year fixed mortgage dropped to 2.63 percent, also a record.HOUSING RECOVERY: Home sales and construction are rising,...
Retirement Savings Plan Reality: Save More
Labels: BusinessThere's a buzz building in California over a state move to create a retirement savings plan for private employees with no workplace 401k. It might seem that everyone has plenty of access to a retirement savings plan, but at least a third of U.S. households get to retirement with just Social Security to back them up, reports MarketWatch.The "pioneering" part of such a retirement savings plan would...
US pending home sales jump to nearly a 6-year high
Labels: BusinessAn index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years. Steady job gains and record-low mortgage rates have made home buying more attractive.The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index rose 5.2 percent to 104.8 in October. Excluding a few months when...
US home sales jump to highest level in 3 years
Labels: BusinessU.S. sales of previously occupied homes jumped to their highest level in three years last month, bolstered by steady job gains and record-low mortgage rates.The National Association of Realtors said Thursday that sales rose 5.9 percent to a seasonally adjusted annual rate of 5.04 million in November. That's up from 4.76 million in October.Previously occupied home sales are on track for their best...
US home sales surge to highest level in 3 years
Labels: BusinessU.S. sales of previously occupied homes jumped to their highest level in three years last month, bolstered by steady job gains and record-low mortgage rates. The report was the latest sign of a sustained recovery in the housing market.The National Association of Realtors said Thursday that sales rose 5.9 percent to a seasonally adjusted annual rate of 5.04 million in November. That's up from 4.76...
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Report: Iran plans Hormuz Strait naval maneuvers
Labels: WorldIran is planning naval maneuvers in international waters near strategic Strait of Hormuz, where one-fifth of world oil supply passes, the official IRNA news agency reported Tuesday.The report quoted Iran's navy chief, Adm. Habibollah Sayyari, as saying the maneuvers will begin Friday from the Strait of Hormuz to the northern part of Indian Ocean in an area of about 1 million square kilometers (400,000...
In Egypt Islamists' bastion, discontent creeps up
Labels: WorldWhen election-time rolls around, this impoverished province of farmlands south of Cairo has proven one of the most die-hard bastions of support for Islamists in Egypt, producing lopsided victories for the Muslim Brotherhood and its ultraconservative allies.Last weekend's referendum that approved Egypt's Islamist-backed constitution was no exception. According to final results released Tuesday, nearly...
Israel to build 942 more homes in east Jerusalem
Labels: World Israel has advanced the process of building 942 more settler homes in east Jerusalem under a new fast-track plan to tighten its grip on the territory, which the Palestinians claim as the capital of a future state.A government planning committee on Monday moved the project to the advanced stage of asking contractors to submit bids to build them, the Interior Ministry said Tuesday. Once a bid...
Israel revisits ban on female prayer at holy site
Labels: World Israel's prime minister has instructed a quasi-governmental Jewish organization to find a solution for non-Orthodox Jewish female groups wishing to pray at one of Judaism's holiest sites.An official said Tuesday Prime Minister Benjamin Netanyahu asked Natan Sharansky, chairman of the Jewish Agency, to look into the matter. The official spoke anonymously according to government regulations.Last...
Pope decries slaughter of 'defenseless' Syrians
Labels: World Pope Benedict XVI wished Christmas peace to the world Tuesday, decrying the slaughter of the "defenseless" in Syria, urging Israelis and Palestinians to find the courage to negotiate and encouraging China's new leaders to allow more religious freedom.Delivering the Vatican's traditional Christmas day message from the central balcony of St. Peter's Basilica, Benedict also encouraged Arab spring...
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