Mortgage Applications Rise, Thanks to Low Interest Rates

by | Nov 10, 2010 | Towing

Demand for mortgage loans rose last week, driven by low interest rates.

The Mortgage Bankers Association said its Market Composite Index rose 5.8% on a seasonally adjusted basis from a week earlier. The index measures the volume of applications for loans. Demand for loans for new homes gained 5.5%, while the number of applications for loans to refinance rose 6%.

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Mortgage Applications Rise, Thanks to Low Interest Rates originally appeared on DailyFinance on Wed, 10 Nov 2010 08:21:00.

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China Trade Surplus Grows to $27 Billion

by | Nov 10, 2010 | Towing

China posted its second-largest trade surprlus of the year in October, giving further ammunition to critics who say that the country’s currency should be stronger.

The country’s October exports were worth $27.15 billion more than its imports for the month, the largest figure for any month this year except July, MarketWatch reported.

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China Trade Surplus Grows to $27 Billion originally appeared on DailyFinance on Wed, 10 Nov 2010 07:06:00.

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ING Prepares U.S. Insurance Business for IPO

by | Nov 10, 2010 | Towing

Dutch bank ING Groep (ING) is preparing its U.S. insurance business for an IPO.

ING agreed to separate its banking and insurance businesses by the end of 2013 so it could get European Commission approval for a government bailout, Bloomberg News said. The bank is now considering IPOs for both its European and U.S. insurance divisions.

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ING Prepares U.S. Insurance Business for IPO originally appeared on DailyFinance on Wed, 10 Nov 2010 06:50:00.

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Ambac Sues U.S. Over $700 Million in Tax Returns

by | Nov 9, 2010 | Towing

Ambac Financial Group, which Monday declared bankruptcy, is suing the U.S. for attempting to seize $700 million in tax refunds. The bond insurer warns that seizing the refunds could ruin its chances of reorganizing.
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