FHA proposal raises mortgage caps for higher income buyers
A proposal backed by realtors would let FHA insure larger loans up to 172,678 in high cost areas and over 100,000 in lower cost regions, expanding government backing for mortgages. Critics warn this shifts risk to taxpayers and could crowd out private insurers.
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Federal Housing Administration
Congress
FHA
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House of Representatives
California
Chicago
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Washington D.C
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Housing starts fall nationwide as Kansas income dips
Washington AP reports housing starts dropped 9.8 percent in June, with rates above 8 percent since April. Regional declines occurred nationwide except the Northeast, while Kansas personal income fell 0.3 percent due to reduced wheat subsidies. Mortgage rates near 8.4 percent in June weigh on activity.
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Washington
Northeast
Commerce Department
Kansas
National Association of Home Builders
Railroads, drugs, and snacks in a mixed market snapshot
Kansas City Southern Industries agreed to a buyout by Illinois Central, while planning a spin off of its mutual fund unit DST Systems and Janus Capital to shareholders. Sprint reported a 40 percent rise in Q2 net income to 220 million on 3.2 billion revenue, with 811 thousand cellular customers. Digital Equipment Corp. sold disk drive operations to Quantum for 400 million and to buy a portion of Quantum's disks. Honda expands North American production with 1100 new jobs and 3.8 billion in regional investment. OTC drug requests rise for hair loss and heartburn remedies, with FDA advisory panels likely to back OTC status. Sucrets tins retired. new plastic container increases per-lozenge price by 1.5 cents.
MENTIONED IN THIS ARTICLE
Kansas City Southern Industries Inc
Illinois Central Corp
DST Systems Inc
Janus Capital Corp
Kansas City Southern
Illinois Central
U.S
Sprint Corp
Sprint
Digital Equipment Corp
Quantum Corp
Quantum
Digital
Rocky Mountain Magnetics Inc
Local Stocks and Market Update Notice
Local stock data mentioned with a dial in line and a market update number, inviting readers to check the Saturday Journal-World for the complete market wrapup. The item preserves the local notice tone and includes the contact reference.
MENTIONED IN THIS ARTICLE
Journal-World
Greenspan Says Rates May Rise To Curb Inflation
Fed Chairman Alan Greenspan told Congress that rates could move higher to keep inflation in check as the economy grows faster than sustainable. He noted a weaker dollar risks inflation later and said further rate adjustments depend on data, with a July-August FOMC meeting eyed for action.
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Washington
Federal Reserve
Alan Greenspan
Congress
Central Bank
Greenspan
Senate Banking Committee
Clinton
Midland area markets show grain and livestock prices
Local prices as of today list Midland Elevator Wheat 3.34, corn 2.20, milo 3.56, soybeans 5.84. Omaha Livestock Market reports hogs mostly steady, cattle light trade, and woolly sheep none. Kansas feedlot sales quiet with 43,500 head week to date. Nonferrous metals and precious metals quotes from New York and London, with copper at 1.16 per pound and gold around 387.45 per troy ounce, weathered by interbank rates from Commerce Bank of Kansas City.
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Midland
Dana, New
Uspa
Omaha
USS
Dodge City
Cryartuspay
Kansas
Commerce Bank of
Kansas City
N.A
U.S
Commerce Bank
Treasury bill rates fall in weekly auctions
Rates on short term Treasuries eased to a three week low as three month bills averaged 4.31 percent, down from 4.50 percent, and six month bills at 4.71 percent, down from 4.94 percent. A separate Fed report shows the one year Treasury bill yield steady at 5.49 percent, the most used index for ARMs.
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Washington
Treasury
Treasury Department
Federal Reserve
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