Existing home sales near 10 year high in November
U S existing home sales rose 0.7 percent in November to 5.61 million annual pace, the strongest since February 2007. The gain suggests housing could boost fourth quarter growth as buyers rush in ahead of higher borrowing costs amidTrump election and Fed rate hike.
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U S mortgage demand rebounds as rates rise
The Mortgage Bankers Association shows total mortgage applications up 2.5 percent in the week ended Friday to 407.3, despite the 30 year conforming rate jumping to 4.41 percent the highest since May 2014. The 15 year rate climbed to 3.64 percent and the refinance index rose 8.0 percent to 1,449.4.
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Nokia sues Apple over 32 patents in Germany and Texas
Nokia Corp files lawsuits in Dusseldorf Mannheim Munich and the U S District Court in Texas alleging infringement of 32 technology patents covering displays user interfaces software antennas chipsets and video coding. Nokia notes Apple has rejected further licensing offers since 2011.
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