Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, November 5, 1993 TAG: 9311050319
SECTION: BUSINESS PAGE: A-11 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
WASHINGTON - Interest rates on 30-year, fixed-rate mortgages shot above 7 percent for the first time since mid-August, the Federal Home Loan Mortgage Corp. said Thursday.
Economists said the increase to 7.11 percent from 6.86 percent last week probably signals at least a temporary end to the yearlong downward trend in mortgage rates.
On one-year adjustable rate mortgages, lenders were asking an average initial rate of 4.17 percent, down from 4.19 percent a week earlier.
- Associated Press
Mustang roundup brings wiring repairs
DEARBORN, Mich. - Ford Motor Co. has corralled 1,800 1994 Mustangs in a lot at its Dearborn Assembly plant to replace faulty wiring behind the dashboard before shipping the cars to dealers.
The worst problem involved a wiring harness supplied by Augat Automotive Components of Mount Clemens, Mich. The unit left the Mustangs subject to electrical failure, said sources inside the plant. - Knight-Ridder/Tribune
Lower jobless claims another positive sign
WASHINGTON - The number of Americans filing first-time claims for jobless benefits fell 10,000 last week to the lowest level in a month, the Labor Department said.
New applications for unemployment insurance totaled 338,000, down from a revised 348,000 during the week ended Oct. 23. It was the smallest number of new claims since 321,000 applications were filed during the week ended Oct. 2.
Since the first of the year, an average of 131,000 new jobs have been created each month.
The less-volatile four-week moving average of claims, which analysts say more accurately reflects the labor situation, was 345,250, up from 341,000 in the period ended Oct. 23. It was the highest since an average of 347,250 in the period ended Aug. 14. - Associated Press
by CNB