Recovery | MyFOX Spokane

US rate on 15-year mortgage at record 2.56 pct.

Submitted by Fox First at Ten on May 2nd

By MARCY GORDONAP Business Writer WASHINGTON (AP) - The average U.S. rate on the 15-year fixed mortgage fell to a new record low last week, and the rate on the 30-year fixed loan declined. Cheaper mortgages have encouraged more home-buying and refinancing. Mortgage buyer Freddie Mac said Thursday

Obama nominates Pritzker, Froman for economic jobs

Submitted by Fox First at Ten on May 2nd

By NEDRA PICKLERAssociated Press WASHINGTON (AP) - President Barack Obama on Thursday chose two old friends with corporate executive experience for top posts on his economic team, naming longtime fundraiser Penny Pritzker as Commerce secretary and adviser Michael Froman as U.S. Trade Representative

Obama to tap Pritzker, Froman for economic jobs

Submitted by Fox First at Ten on May 2nd

By JULIE PACEAP White House Correspondent WASHINGTON (AP) - President Barack Obama on Thursday will nominate longtime fundraiser and philanthropist Penny Pritzker to run the Commerce Department and economic adviser Micahel Froman as the next U.S. Trade Representative. Pritzker, a Hyatt hotel

Pickups spur increase in April auto sales

Submitted by Fox First at Ten on May 1st

By TOM KRISHER and DEE-ANN DURBINAP Auto Writers DETROIT (AP) - Detroit was king in April, with demand for its big pickups helping to boost U.S. auto sales and offset a soft month for Toyota. Ford, GM and Chrysler sold a total of 144,042 full-size pickups, up 29 percent from last April, driven by

US jobs data add to market concerns ahead of Fed

Submitted by Fox First at Ten on May 1st

By PAN PYLASAP Business Writer LONDON (AP) - With a large chunk of Europe on holiday, financial markets were lead-footed Wednesday ahead of a policy statement from the Federal Reserve. A soft private payrolls report from ADP raised concerns over the state of the U.S. economy but reinforced market

Asia stocks down, China manufacturing growth slows

Submitted by Fox First at Ten on May 1st

By PAMELA SAMPSONAP Business Writer BANGKOK (AP) - Asian stock markets fell Wednesday in holiday-thinned trading after the pace of China's manufacturing growth slowed in April, raising fears of a weaker recovery in the world's second-largest economy. The China Federation of Logistics and

China manufacturing growth slows in April

Submitted by Fox First at Ten on May 1st

BEIJING (AP) - An industry group says manufacturing growth in China slipped in April as exports continued to decline, raising questions about the strength of recovery in the world's second-biggest economy. The China Federation of Logistics and Purchasing said Wednesday that its purchasing

Building toward recovery

Submitted by Fox First at Ten on April 30th

By Jeremy Quittner The construction industry continues to add fire to the economic recovery, according to the March private company index from Sageworks. While the Sageworks index supports a host of other recent data that point to a housing market recovery, it also indicates economic improvement

Building toward recovery

Submitted by Fox First at Ten on April 30th

US home prices up 9.3 pct., most in nearly 7 years

Submitted by Fox First at Ten on April 30th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - U.S. home prices rose 9.3 percent in February compared with a year ago, the most in nearly seven years. The gains were driven by a growing number of buyers who bid on a limited supply of homes. The Standard & Poor's/Case-Shiller