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  • Bills advance vets cemetery, FORA projects

    AB 1842, by Assemblyman Bill Monning, D-Carmel, allows the state Department of Veterans Affairs to do some aggressive fundraising and seal any financial agreements for cash advances to be used toward the building of the long-awaited cemetery. The

  • Insight: China builds its own military-industrial complex

    HONG KONG () - When China turned to Russia for supplies of advanced weapons through the 1990s, it kick-started Beijing's military build-up with an immediate boost in firepower. . Military experts say that alongside reorganization and

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    Too many succumb to the lure of “quick cash” and the persistent hard-sell from payday and auto title lenders, which operate out of about 250 locations in our city alone. Five years ago, Congress passed the Military Lending Act, making it illegal for

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    For the second time in as many months, the cash-strapped U.S. Postal Service says it will default on a required payment to fund future postal retirees' health benefits. The default on the $5.6 billion, due Sept. 30, will not affect mail delivery or

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News Summary: Rates on US mortgages at record lows
RATES AT RECORD LOWS: Average U.S. rates on fixed mortgages fell again to record lows this week. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates.

Rate on 30-year mortgage hits record low 3.40 pct.

In this Friday, Sept. 21, 2012, photo,a home is for sale in Oklahoma City. Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates. Mortgage buyer Freddie Mac said Thursday, Sept. 27, 2012, the rate on the 30-year loan dropped to 3.40 percent. That's down from last week's rate of 3.49 percent, which was the lowest since long-term mortgages began in the 1950s. (AP Photo/Sue Ogrocki)Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates.

Already signs Fed action is working: Boston Fed's Rosengren
QUINCY, Massachusetts (Reuters) - The Federal Reserve's decision last week to buy large quantities of mortgage-backed securities is already having a positive effect on wholesale mortgage rates, the president of the Federal Reserve Bank of Boston said on Thursday. Eric Rosengren, in a speech to a chamber of commerce in the Boston suburb of Quincy, also said the U.S. economy was clearly in better shape than some developed peers internationally, but still not strong enough to bring the unemployment rate down more quickly. (Reporting By Ben Berkowitz; Editing by Chizu Nomiyama)

Ahead of the Bell: Weekly mortgage rates
Loan buyer Freddie Mac reports Thursday on whether mortgage rates are continuing to hold near recent low rates.

U.S. mortgage refinancing applications rise as rates hit record low: MBA

A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of WashingtonNEW YORK (Reuters) - Applications for home mortgages dipped last week, though demand for refinancings rose as mortgage rates fell to a record low, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, edged down 0.2 percent in the week ended Sept 14. The seasonally adjusted index of refinancing applications gained 0.80 percent. The gauge of loan requests for home purchases, a leading indicator of home sales, tumbled 3.8 percent. ...

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