Washington News Rampup Billions in T-bills Sold at Auction
The Treasury sold 15 billion in three month bills at 1.210 discount and 15 billion in six month bills at 1.265 percent. Both rates reach highs since early November. Real yields show 1.228 and 1.291 percent respectively on 10 000 and 9 936 40 dollar bills.
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Washington News
Record Home Sales Fueled by Low Mortgage Rates
A 2.6 percent September sales rise surpassed expectations as mortgage rates hit 30 year lows. economists note housing remains a bright spot while overall growth is uneven. Fed action and political caution frame the outlook as Dow advances and 2002 home sales pace nears record levels.
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White House
Ari Fleischer
Fleischer
Fed
Wall Street
Association
Home mortgage rate trends dip in September and October
Mortgage rates show 6.09 percent in September and 6.62 percent in October with a slight rise from the prior week’s 6.94 percent. The data marks the seventh weekly low of the year, underscoring ongoing softness in borrowing costs despite narrowing spreads.
Former prosecutor named INS chief
A former prosecutor was named chief of the Immigration and Naturalization Service as scrutiny of the agency intensified following the September 11 attacks.
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INS
Fees Freeze Threatens Small Business Borrowing
Small firms face delayed or blocked loans as the SBA program funds drop from 12 billion to 5 billion and the annual cap falls to 500 000 from 2 million. Senate approved a measure, but House stalled it, risking jobs and economic development until January when funds may revive. Carter, spokesman for the House Small Business Committee, warned lenders and owners.
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SBA
Ee Ee
Socembiak Tanienenaer
Senate
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Carter
House Small Sakes Committee
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