All Or Nothing Apparent Motto Of Business World
In New York the AP notes the volatile boom bust pattern in housing and finance. It cites high mortgage rates at 13.5 percent reducing buyers and boosting unemployment, with 1 million construction jobs lost in 1982 and only about 15 percent of families able to secure a fixed rate loan. If rates fell to 8 percent nearly 30 percent could qualify for housing. The stock market dipped slightly on broader money supply news as housing groups warn the deficit drives high and unstable rates.
MENTIONED IN THIS ARTICLE
New York
Harry Pryde
National Association of Home Builders
Industry
NAHB
Wall Street Noon: Gainers Narrowly Lead Losers on Exchange
The noontime report shows losers with a slim edge over gainers among NYSE issues. The Fed reported a 1.1 billion drop in the money supply for the week ended Oct 5, suggesting weaker liquidity and dampening rate-cut hopes. American Express led the active list.
MENTIONED IN THIS ARTICLE
Federal Reserve
American Express
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