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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jul 02, 2010
Page
11
Washington reports show higher unemployment claims and weak home sales while manufacturing slows. The four week average reached 466,500, keeping claims above 450,000 since January, fueling fears of a double dip recession as lawmakers debate extending unemployment benefits amid a holiday recess.
More than 1.3 million jobless Americans will not see their unemployment benefits restored before Congress recesses for Independence Day. An additional 200,000 long term unemployed could lose weekly aid, as Republicans filibuster a bill to extend checks. The measure failed by two votes. Reid indicated a revote after a Byrd replacement is named.
Rates fall to 4.58 percent for 30 year fixed loans, the lowest since Freddie Mac began tracking in 1971, as investors seek Treasury safety. Refi activity rises about 9 percent but remains well below 2009 levels, with tighter credit and dwindling home equity limiting borrowing.
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