Fed keeps interest rates at 5.25 percent - 2007-01-31
Highlighting a robust U.S. economy and good news on inflation, the Federal Reserve kept interest rates steady on Wednesday and extended a half-year breather for U.S. borrowers. Wall Street climbed in reaction. Fed Chairman Ben Bernanke and his central bank colleagues left a key interest rate unchanged at 5.25 percent, the fifth straight meeting without moving the rate. The decision was unanimous.
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Refinance Mortgage Applications Pick Up - 2007-01-31
The Mortgage Bankers Association declared that its seasonally adjusted index of mortgage application activity climbed 3.2 percent to 631.1 in the week ended Jan. 26. The upturn occurs after last week's December reports on U.S. new and existing home sales displayed signs of improvement. The group's seasonally adjusted refinance mortgage application index expanded 4.9 percent to 1,940.2, sending it 11 percent higher than a year ago.
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