benchmark rate

WASHINGTON | US construction spending down 0.1% in October

WASHINGTON — Spending on U.S. construction projections fell 0.1% in October, the third consecutive monthly decline, as weakness in home building and non-residential construction offset a rebound in government projects. The October decline matched a similar 0.1% drop in September and followed a 0.4% fall in August, the Commerce Department reported Monday. Construction has been … Continue reading WASHINGTON | US construction spending down 0.1% in October

BANGKOK | Asia shares mixed ahead of Trump-Xi meeting at G-20 summit

BANGKOK — Share prices were mixed Friday in Asia ahead of the planned meeting by Presidents Donald Trump and Xi Jinping at the Group of 20 summit this weekend. KEEPING SCORE: Japan’s Nikkei 225 index climbed 0.4 percent to 22,348.56 and the Hang Seng in Hong Kong added 0.7 percent to 26,633.88. The Shanghai composite … Continue reading BANGKOK | Asia shares mixed ahead of Trump-Xi meeting at G-20 summit

WASHINGTON | US home construction rose 1.5 percent in October

WASHINGTON  — U.S. home construction improved a slight 1.5 percent in October, but in a troubling sign, ground breakings for single-family houses fell. The Commerce Department said Tuesday housing starts rose to a seasonally adjusted annual rate of 1.23 million, up from 1.21 million in September. The gains came entirely from apartments. Starts for single-family … Continue reading WASHINGTON | US home construction rose 1.5 percent in October

WASHINGTON | US average mortgage rates flat to higher; 30-year 4.94 pct.

WASHINGTON — U.S. long-term mortgage rates were steady to slightly up this week, at their highest levels in nearly eight years and dampening home sales. Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year, fixed-rate mortgage was unchanged from last week at 4.94 percent. That’s the highest level for the benchmark rate … Continue reading WASHINGTON | US average mortgage rates flat to higher; 30-year 4.94 pct.

WASHINGTON | Fed leaves key rate unchanged but sees further hikes ahead

WASHINGTON — The Federal Reserve has left its key policy rate unchanged but signaled that it plans to keep responding to the strong U.S. economy with more interest rate hikes. The next rate hike is expected in December. The Fed kept its benchmark rate in a range of 2 percent to 2.25 percent. A statement … Continue reading WASHINGTON | Fed leaves key rate unchanged but sees further hikes ahead

NEW YORK | US stocks edge mostly lower after a big post-election surge

NEW YORK — Stocks in the U.S. are taking small losses at midday Thursday after a big rally the day before. Technology and internet companies are slipping after chipmaker Qualcomm gave a disappointing revenue forecast for the current quarter. Health care companies are broadly higher after a big gain a day ago following the U.S. … Continue reading NEW YORK | US stocks edge mostly lower after a big post-election surge

WASHINGTON | US mortgage rates fall slightly; 30-year at 4.85 percent

WASHINGTON— Long-term U.S. mortgage rates dipped slightly this week, taking a pause after weeks of steady increases stoked by rising interest rates. Home borrowing rates remain at their highest levels in more than seven years, with the key 30-year rate approaching 5 percent. Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages declined … Continue reading WASHINGTON | US mortgage rates fall slightly; 30-year at 4.85 percent

WASHINGTON | Mortgage rates leap to 7-year highs; 30-year at 4.90 percent

WASHINGTON — Long-term U.S. mortgage rates leaped this week to their highest levels in seven years amid global anxiety over rising interest rates that has gripped financial markets. Costs for would-be homebuyers are climbing. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages jumped to an average 4.90 percent this week from … Continue reading WASHINGTON | Mortgage rates leap to 7-year highs; 30-year at 4.90 percent