Mortgage rates rose for the fourth straight week, ending the year above 5 percent. The average fixed rate on a 30-year mortgage was 5.14 percent this week, up from 5.05 percent last week, Freddie Mac said Thursday.
Oil prices edged above $79 a barrel Wednesday as the nation’s crude supply fell for the fourth week in a row. Gasoline supplies also fell unexpectedly and futures neared a high for the year for January delivery, a contract that closes Thursday.
The U.S. government is imposing new duties on imports of steel pipes from China, the latest sign of trade tensions between the two countries.
Interest rates dipped in the market for previously issued Treasurys Tuesday after a successful auction of $42 billion of five-year notes.
Americans are ending 2009 feeling better about the economy than when the year began, buoyed by optimism that job prospects will improve in the first half of 2010.
Better holiday sales and rising commodities prices pushed stocks to their sixth straight gain and new highs for 2009. Major indexes edged higher in light trading Monday after sales figures showed shoppers spent more freely this holiday season, a sign that consumers are feeling better about the economy.
Interest rates rose Monday, but were down from their highest levels following a decent auction of two-year notes. The yield on the 10-year Treasury note, which is used as a benchmark for interest rates on mortgages and other consumer loans, rose to 3.85 percent from 3.80 percent Thursday.
Two House Democrats who favor a government insurance plan, a central element of health care legislation passed in their chamber, acknowledged Sunday it might have to be sacrificed as negotiators work out a final agreement with the Senate.
Asian stock markets rose Monday as a jump in Japan’s factory production suggested the region’s economic recovery is gathering pace.
Officials at Reagan National Airport have reopened a terminal that was closed after a broken pipe caused flooding. A spokeswoman for the Metropolitan Washington Airports Authority said the flooding Saturday was ankle deep in the terminal C baggage claim area.
A 23-year-old Nigerian man who claimed ties to al-Qaida was charged Saturday with trying to destroy a Detroit-bound airliner, as authorities learned his father warned U.S. officials of concerns about his son’s religious beliefs.
Shoppers across the country returned to malls Saturday, rummaging through thinly stocked shelves hunting for deals, next year’s Christmas gifts and, for most, gifts for themselves.
Democrats are troubled by the inconsistency of Republican lawmakers who approved a major Medicare expansion six years ago that has added tens of billions of dollars to federal deficits, but oppose current health overhaul plans.
Hocking the house for quick cash is a lot harder than it used to be, and it’s causing headaches for homeowners, banks and the economy.
As merchants look to this weekend and the rest of the Christmas aftermath, they’re counting on droves of gift card-toting customers to return to malls.