Mortgage rates jump above 8.5%

Article Abstract:

Mortgage lenders have increased their rates by a quarter-point, a sign that they expect the Federal Reserve to boost short-term interst rates by half a percentage point on May 16, 2000. Freddie Mac reported that the average rate on a 30-yr mortgage increased to 8.52% from 8.28%, a five- year high. For 15-yr mortgages, rates jumped from 7.94% to an average of 8.17%. In response to the higher rates, house buyers have increased their mortgage loan applications to lenders.

Mortgage Bankers, Real Estate Credit, Mortgage banks

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World crises cause oil price to jump 8.5%

Article Abstract:

Oil prices have risen by more than 8% on Oct 12, 2000. November delivery of crude prices reflected an increase of as much as 11% before settling up $2.81 to $36.06 per barrel on the New York Mercantile Exchange. The increase in oil prices is attributable to the renewed violence in the Middle East and labor problems in Venezuela which have threatened to disrupt the already tight supplies of oil.

Petroleum and Coal Products Manufacturing, Securities prices, Petroleum

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Falling oil prices may foreshadow lower heating bills

Article Abstract:

Falling crude oil prices may provide some relief for consumers struggling with skyrocketing heating bills. Crude oil prices are fallng below $30 per barrrel for the first time in months. The prices of natural gas are also expected to drop as low as $3 from $8.37 if Jan and Feb 2001 are not unseasonably cold. Oil slated for Jan 2001 delivery fell 50 cents on Dec 7, 2000, to $29.35 a barrrel on the New York Mercantile Exchange.

Crude Petroleum and Natural Gas Extraction, Crude Petroleum

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