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Big bank stocks dip on fear of low interest rates
Big bank stocks dip on fear of low interest rates
Many bank stocks slipped Monday as traders bet that low interest rates and slow loan growth will weaken the companies' profits this year. Big U.S. banks are set to begin announcing their first-quarter earnings later this week. Analysts say the banks may revise their profit expectations downward beca

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Pyongyang rumblings have little effect on SKoreans
Pyongyang rumblings have little effect on SKoreans
Outsiders might hear the opening notes of a war in the deluge of threats and provocations from North Korea, but to South Koreans it is a familiar drumbeat. Separated from the North by a heavily fortified border for decades, they have for the most part lived with tough talk from Pyongyang all their

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News Summary: Tips on applying for a mortgage
News Summary: Tips on applying for a mortgage
MORTGAGE APPLICATION: Most would-be homebuyers will end up applying for a home loan. Getting the best deal means keeping on top of changes to interest rates, but also rule changes with popular government-backed loan programs. FHA CHANGES: This week, the Federal Housing Administration put into effect

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6 key considerations when applying for a mortgage
6 key considerations when applying for a mortgage
For most would-be homebuyers, making a run at homeownership is going to mean getting approved for a home loan. It's a process that, at best, can be stressful and confusing. Borrowers can be better prepared by taking steps to study their options and learn what to expect from a lender. "It's surprisin

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US rate on 30-year mortgage slips to 3.54 pct.
US rate on 30-year mortgage slips to 3.54 pct.
Average U.S. rates on fixed mortgages crept closer to their historic lows this week, a trend that could help the housing recovery strengthen. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year fixed loan edged down to 3.54 percent from 3.57 percent last week. That's near

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Study: Dementia tops cancer, heart disease in cost
Study: Dementia tops cancer, heart disease in cost
Cancer and heart disease are bigger killers, but Alzheimer's is the most expensive malady in the U.S., costing families and society $157 billion to $215 billion a year, according to a new study that looked at this in unprecedented detail. The biggest cost of Alzheimer's and other types of dementia i

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US service firms grow more slowly, hiring weakens
US service firms grow more slowly, hiring weakens
Two reports Wednesday showed that U.S. service companies grew more slowly in March and private employers pulled back on hiring. The declines suggest businesses may have grown more cautious last month after federal spending cuts took effect. The Institute for Supply Management said that its index of

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US home prices rose in February by most in 7 years
US home prices rose in February by most in 7 years
U.S. home prices jumped in February by the largest amount in seven years, evidence that the housing recovery strengthened ahead of the all-important spring-buying season. Home prices rose 10.2 percent in February compared with a year earlier, CoreLogic, a real estate data provider, said Wednesday.

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Fannie's record profit a symbol of housing rebound
Fannie's record profit a symbol of housing rebound
Home prices are up. Foreclosures are down. Construction is up. And now comes the latest sign of the U.S. home market's revival: Fannie Mae, the mortgage giant that nearly collapsed five years ago, has earned its biggest yearly profit ever. Fannie Mae earned $17.2 billion last year and said Tuesday

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Is home where the profit is?
Is home where the profit is?
J.C. Penney is honing in on its home department as part of a bigger plan to turn its stores into mini-malls of sorts. The struggling department-store chain is unveiling revamped home areas within its stores that feature 20 boutiques that highlight 50 new brands. The areas will include an eclectic m

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US construction up 1.2 percent in February
US construction up 1.2 percent in February
Spending on U.S. construction projects rebounded in February, helped by a surge in home construction, which rose to the highest level in more than four years. Construction spending rose 1.2 percent overall in February compared to January, when construction had dropped 2.1 percent, the Commerce Depa

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US construction spending rose 1.2 percent in February, led by surge in home building
US construction spending rose 1.2 percent in February, led by surge in home building
US construction spending rose 1.2 percent in February, led by surge in home building.

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US mortgage rates edge up this week
US mortgage rates edge up this week
Average U.S. rates on fixed mortgages edged up this week but remained near historic lows. Here's a look at rates for fixed and adjustable mortgages over the past 52 weeks:

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News Summary: 30-year mortgage rate at 3.57 pct.
News Summary: 30-year mortgage rate at 3.57 pct.
LOW RATES: Average U.S. rates on fixed mortgages edged up this week but remained near historic lows. Low rates have helped drive the housing market's steady recovery. THE NUMBERS: The average rate on the 30-year fixed mortgage rose to 3.57 percent from 3.54 percent last week. That's near the 3.31 pe

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US rate on 30-year mortgage ticks up to 3.57 pct.
US rate on 30-year mortgage ticks up to 3.57 pct.
Average U.S. rates on fixed mortgages edged up this week but remained near historic lows. Low rates have helped drive the housing market's steady recovery. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year fixed loan rose to 3.57 percent from 3.54 percent last week. Tha

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Grenada to revive program selling citizenship
Grenada to revive program selling citizenship
Grenada announced Wednesday that it intends to revive a program that will essentially allow investors from across the globe to buy citizenship on the sparsely-populated Caribbean island known for its beaches and spice-scented forests. The strategy is part of a growing trend in the Caribbean to drum

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Gov't eases mortgage rules for troubled borrowers
Gov't eases mortgage rules for troubled borrowers
A federal agency says it is easing rules for troubled borrowers to lower their monthly mortgage payments on loans backed by Fannie Mae or Freddie Mac. The Federal Housing Finance Agency, which oversees the two government-controlled lenders, says borrowers who are at least 90 days delinquent on thei

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Signed contracts to buy US homes dips slightly
Signed contracts to buy US homes dips slightly
Fewer Americans signed contracts to buy homes in February, but the level stayed near a three-year high, and analysts believe sales of previously occupied homes will keep rising in the coming months. The National Association of Realtors said Wednesday that its seasonally adjusted index for pending h

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Jump in home prices sends stock indexes higher
Jump in home prices sends stock indexes higher
The latest signs of recovery in the U.S. housing market are sending stocks higher on Wall Street. The Dow Jones industrial average was up 90 points, or 0.6 percent, at 14,537 at midday Tuesday. The Standard & Poor's 500 index rose eight points, or 0.5 percent, to 1,559. The Nasdaq composite was up

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Sector Snap: Homebuilders
Sector Snap: Homebuilders
Shares of homebuilders posted slight gains Tuesday, amid an overall up market, after the release of mixed housing data. According to the Commerce Department, sales of new homes dropped to a seasonally adjusted annual rate of 411,000 in February. That's a decline of 4.6 percent from the January leve

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