Refinance Mortgage: Mortgage equity withdrawal falls - 2006-01-03
Mortgage equity withdrawal dropped to 8.276 billion pounds in the third quarter of last year from 10.001 billion in the second quarter, the Bank of England revealed on Tuesday. Higher house prices in the last few years had fed a trend of refinance mortgage loans to extract cash which many economists say had helped support spending.
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Construction spending hits record in Nov. - 2006-01-03
Construction spending reached an all-time high in November as government spending to construct schools, highways and sewer systems offset a small dip in home building. The Commerce Department declared that total building activity climbed to a record $1.146 trillion at an annual rate in November, up 0.2 percent from the October pace.
Read the full story at BusinessWeek