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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Nov 17, 2006
Page
12
A sizable drop in gas prices helped consumer costs fall 0.5 percent for the month, the second straight decline, while Fed data showed a 0.2 percent uptick in industrial output amid auto factory cuts. Inflation pressures appear to ease as growth slows, with core inflation up only 0.1 percent.
Washington rates on 30 year fixed mortgages slid to 6.24 percent the lowest in eight months from 6.33 percent as inflation data showed declines. Freddie Mac notes all major loan types fell with 15 year fixed at 5.94 percent and one year adjustable at 5.53 percent amid housing downturn signals.
Democrats pick Nancy Pelosi as the first female speaker and swiftly elect Steny Hoyer as majority leader by a secret ballot 149 to 86. Pelosi thanked supporters, while other members warned healing is needed after a bruising leadership contest as the party prepares to govern. Rep. Serrano cautioned about lingering tensions.
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