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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LowesCos .12 39391 u57.01 55.57 56.79 +1.30 26 21.69 -21 +255 NortikSo NY
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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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
Federal Reserve
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