Average U.S. mortgage rates rose only slightly this week and continued to hover near record lows, a trend that has helped boost home sales and refinancing.
U.S. sales of new homes jumped last month to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy.
The state’s quasi-public economic development agency lost track of $69 million in loans to businesses because no one was in charge of keeping tabs on that money, members of the board that oversees the agency were told Friday.
The semi-public agency charged with overseeing economic development efforts in Wisconsin did not track how much was owed on $8 million in overdue loans for more than a year, leading Gov. Scott Walker to promise dramatic corrective action.
The average U.S. rate on a 30-year fixed mortgage has fallen to near its record low set earlier this month.
China demanded Thursday that Washington repeal steep tariffs on solar panels that Chinese producers fear will shut their equipment out of the American market.
U.S. builders trimmed their activity for a second straight month in August as a solid gain in home construction failed to offset declines in nonresidential activity and government projects.
Sales of new homes in the United States dipped slightly in August from July but the median price of homes sold during the month rose by a record amount.
U.S. construction spending fell in July from June by the largest amount in a year, weighed down by a big drop in spending on home improvement projects.
The U.S. economy grew at a tepid 1.7 percent annual rate in the April-June quarter, suggesting growth will stay weak in the second half of the year.