The rate dropped to 4.85 percent from 4.98 percent a week earlier, Freddie Mac, the McLean, Virginia-based mortgage buyer, said today.
Mar 27 - Asia markets hit 11-week high on hopes the U.S. economic downturn may be easing.
Stock markets got off to a positive start today as the latest revision of data on the U.S. economic slump wasn't as bad as expected.
Mar. 26 - Marc Chandler, global head of currency strategy at Brown Brothers Harriman, discusses the Mexican Peso with Carrie Lee and Foreign Exchange Correspondent Vivianne Rodrigues.
One month of improved data does not constitute an economic recovery and recession in the United States will last for at least a few more months, Atlanta Federal Reserve President Dennis Lockhart said on Thursday.
A book coming this fall will offer one of the ultimate inside takes on the economic crisis _ from former Secretary of the Treasury Henry M. Paulson, Jr.
The Commerce Department on Thursday reported that the economy was sinking a bit faster than the 6.2 percent annualized drop for the October-December quarter estimated a month ago.
Morgan Stanley and Mitsubishi UFJ Financial Group Inc. will merge their Japanese securities businesses to create the nationa s third-largest brokerage.
Asian markets gained Thursday, building on this month's rally as better-than-forecast economic data in the U.S. buoyed hopes that government stimulus measures are starting to heal the global economy.
Every major market across Asia advanced as investors took relief in figures showing orders at U.S. factories for cars, household appliances and other durable goods climbed 3.4 percent last month. Also, new home sales rose 4.7 percent in February. The figures _ better than the market's expectations _ lifted optimism that demand in the world's largest economy might bottom out in the coming months.
February new home sales rise unexpectedlyNew home sales rebounded unexpectedly last month, but were still the second-worst on record and remained well below last year's levels, according to data released Wednesday.
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