Highest Level

WASHINGTON | US home sales fell in September to slowest pace in 3 years

WASHINGTON — U.S. home sales fell for the sixth straight month in September, a sign that housing has increasingly become a weak spot for the economy. The National Association of Realtors said Friday that sales declined 3.4 percent last month, the biggest drop in 2 ½ years, to a seasonally adjusted annual rate of 5.15 … Continue reading WASHINGTON | US home sales fell in September to slowest pace in 3 years

MILAN | Italian markets hit by concerns over budget spat

MILAN  — Italy’s financial markets are shaken following the European Union’s stinging rebuke of the new populist government’s budget bill, which pushes the deficit far beyond previously agreed levels. Italy’s government borrowing rose, with the yield on the benchmark 10-year bond on Friday hitting its highest level since 2013. The increase suggests investors are more … Continue reading MILAN | Italian markets hit by concerns over budget spat

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  | US housing starts sank 5.3 percent in September

WASHINGTON  — U.S. home construction fell 5.3 percent in September, a sign that rising mortgage rates may be weighing on the market. The Commerce Department says that housing starts slipped last month to a seasonally adjusted annual rate of 1.2 million, down from 1.27 million in August. So far this year, starts have increased 6.4 … Continue reading WASHINGTON  | US housing starts sank 5.3 percent in September

WASHINGTON | US budget deficit hits highest level in 6 years

WASHINGTON — The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Donald Trump’s tax cuts caused the government to borrow more heavily in order to cover its spending. The Treasury Department said Monday that the deficit climbed $113 billion from fiscal 2017. Debt will … Continue reading WASHINGTON | US budget deficit hits highest level in 6 years

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

LOUISVILLE, Ky | Kentucky bourbon inventory at highest level since 1972

LOUISVILLE, Ky— Kentucky’s bourbon distilleries ratcheted up production again last year, boosting overall inventory to 7.5 million barrels of aging whiskey — the highest volume since 1972, an industry group said Thursday. Rounds of distillery expansions and start-ups have put the sector on a trajectory toward higher production, but an industry leader warned trade disputes … Continue reading LOUISVILLE, Ky | Kentucky bourbon inventory at highest level since 1972

WASHINGTON | US trade deficit widened to $50.1 billion in July

WASHINGTON— The U.S. trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. The deficit in goods with China and the European Union set records. The Commerce Department said Wednesday that the deficit in goods and services — the difference between what America … Continue reading WASHINGTON | US trade deficit widened to $50.1 billion in July