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Bluefield Daily Telegraph in Bluefield, West Virginia

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Newspaper

Bluefield Daily Telegraph

Location

Bluefield, West Virginia, United States of America

Date

Oct 07, 2003

Page

6

Stocks rise modestly on investor optimism

New York AP report notes modest gains as investors cautious after last week’s rally. Dow up 22.67 to 9594.98, Nasdaq +12.91, S&P 500 +4.50 with light volume due to Yom Kippur. Motorola up 1.22 to 13.50 on spin off its semiconductor unit. PeopleSoft up 0.62 to 20.43 on higher Q3 guidance.

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Refinancing may leave retirees with lingering mortgage debt

The article notes that many homeowners in their 40s and 50s who take out 30 year loans to refinance or buy homes may carry mortgage payments into retirement. Experts caution that life spans, income changes, and housing prices affect payoff prospects, while some borrowers use 30 year loans for lower monthly payments and tax deductions.

Washington Malcolm Buckey Ponte Vedra Beach Fla Walter Molony Annandale Mark Zandi Economy.com Richmond Buckey Molony Florida Cathy West Virginia Greg McBride Bankrate.com McBride Doug Duncan The Mortgage Bankers Association of America

Treasury auctions yield lower short term bills

The Treasury sold 16 billion in three month bills at a discount rate of 0.920 percent and 16 billion in six month bills at 0.995 percent, both down from the prior week. The new rates understate returns to investors, with 0.939 percent for three months and 1.017 percent for six months. The Fed noted one year yields at 1.17 percent, down from 1.29 percent.

Washington Treasury Treasury Department Federal Reserve

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