Stocks Slip as Housing Surges Prompt Rate Outlook Shift
Stocks fell Thursday after April housing sales jumped the most in 14 years. Dow dropped 84.52 to 13441.13, Nasdaq down 39.13 to 2537.92 as advancers lagged decliners four to one. A separate Consumer Action survey shows late credit card fees averaging 28 with penalty rates at 24.51 percent, mirroring Fed rate hikes.
MENTIONED IN THIS ARTICLE
Scott Fullman
Israel A. Englander & Co
Fed
New York Stock Exchange
United States
Consumer Action
Federal Reserve Board
Mortgage rates rise to seven month high across loans
Freddie Mac reports weekly averages show 30-year fixed mortgages at 6.37 percent nationwide, up from 6.21 percent and the highest since late October. Fifteen-year loans at 6.06 percent, five-year ARMs at 6.02 percent, and one-year ARMs at 5.64 percent.
MENTIONED IN THIS ARTICLE
Federal Reserve
Freddie Mac
Auto industry fights fuel economy rules campaign
The auto industry launches a $1 million radio ad drive to oppose 35 mpg fuel economy goals amid upcoming congressional debate. AAM spokesman Charles Territo says the industry employs 6.6 million workers and warns against broad mandates. Ads target states with many pickup and SUV owners this weekend.
MENTIONED IN THIS ARTICLE
Congress
Charles Territo
The
Alliance of Automobile Manufacturers
Gazette
Active military set for student loan savings
Iowa residents on active duty since Sept 11 2001 with private loans from Iowa Student Loan receive zero percent interest for up to 24 months. About 400 borrowers identified with an average $10 000 principal and 6 percent rate, potentially saving $500 to $600. Call 1 800 243 7552 to check eligibility.
MENTIONED IN THIS ARTICLE
The
Gazette
Cedar Rapids
Iowa
Steve McCullough
Afghanistan
Iraq
McCullough
Iowa National Guard
Iowa Army National Guard
Guard
Paul David
Leonard Boswell
Tea parties spark a new career for Hiawatha mom
Britta’s Victorian Tea Parties brings parties to customers with china decorations cakes tea and vintage dress-up trunks. Run by 42 year old Marlene Zweibohmer in Hiawatha the service starts at 175 dollars and can be tailored for adults. Zweibohmer left radio after 16 years including 11 years as a morning personality on KHAK to stay at home with her children and later launch the business after hosting a tea party for her daughter in 2003.
MENTIONED IN THIS ARTICLE
Cliff Jette
Taryn Beckman
Cedar Rapids
Britta Zeweibohmer
Hiawatha
Penelope Gardner
Aantta Zweibohmer
Celiné Alverez
Schaeffer Caldwell
Zweibohmer
St. Paul's
Britta
KHAK
Celine Alverez
Britta Zweibohmer
Tea Parties Gone Viral for Britta Zweibohmer
Britta Zweibohmer builds a thriving Victorian Tea Parties business after assisting a party for a daughter. Mothers recommend her to others, boosting bookings. She notes weekends fit her family schedule as her husband Travis watches the kids.
MENTIONED IN THIS ARTICLE
Travis
New home prices drop as sales surge in April
Washington AP reports the new home market shows 16.2 percent April sales gain to 981,000 annual rate the best in 14 years while median price fell 11.1 percent to 229,100 dollars. Analysts say price cuts reflect builder desperation amid a deep slump despite the rise in sales in the South weather partial.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Practical lessons foster teeny economists in two Kansas City classrooms
In Blue Springs Missouri and Kansas City Missouri two teachers use hands on money lessons with elementary students. Vicki Stanton leads the School of Economics and Rosemary Roadhouse teaches fourth graders at St. Pauls Episcopal Day School. The programs include immigrant role play and classroom auctions to teach buying selling saving and decision making.
MENTIONED IN THIS ARTICLE
Vicki Stanton
Rosemary Roadhouse
Stanton
School of Economics
Blue Springs
Roadhouse
St. Paul's Episcopal Day School
Kansas City
Cardill-Mason Elementary
St. Paul’s
M&ms
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David.dewitte
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Marlene Lucas
Ritta Zweibohmer
Ana
Lysts
South
David Seiders
National Association of Home Builders
Steve Rosen
Sta
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