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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Feb 21, 2003
Page
2
Freddie Mac data show 30 year fixed at 5.84 percent, 15 year at 5.21 percent, and one year adjustable at 3.81 percent. The declines mark record lows since start of tracking, fueling refinancing and strong home sales while supporting the broader economy.
Amtrak warns it will need about 1.8 billion dollars next year to maintain current service and roughly 2 billion annually through 2008 for capital repairs, as Congress provided 1.05 billion for the current budget year with funds routed through the Transportation Secretary and new limits on long distance train subsidies.
Stocks dropped as four weak economic reports, from a record U S trade deficit to a sharp rise in producer prices and rising unemployment claims, spurred fears of an Iraq war impact. The Dow closed 85.64 lower at 7914.96 amid energy price concerns and a weaker leading indicators index.
The dollar weakened against most major currencies except the pound after the Commerce Department reported a December trade deficit of 44.2 billion dollars, up from 40.0 billion in November. For 2002 the deficit hit a record 435.2 billion, signaling strain from funding the current account.
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