| Fed's rate cuts ignite a rush to refinance
A positive note in the chorus of bad economic news sounds loudly, like a call to arms. Or, as happened after the Federal Reserve dropped short-term interest rates three-quarters of a percentage point Tuesday, a race to refinance. The refinancing frenzy began right after the Fed's announcement, local brokers and bankers reported. The 10-year Treasury bond rates on which fixed mortgages are based also fell, and interest rates for 30-year loans plunged as far as 5.125 percent, the lowest level since spring 2004. On Jan. 1, the 30-year fixed rate averaged 6.07 percent; it has ranged between 6 percent and 6.5 percent for two years. Though the number of refinancing applications will not be available until Wednesday from the Mortgage Bankers Association, newspaper and television accounts from Bangor, Maine, to Los Angeles described a boom in activity.
No. 10 Michigan State Beats Northwestern
Morgan scored seven during that stretch, but Michigan State was just getting started.
Allen hit two 3-pointers and Neitzel added one as the Spartans went on an 11-0 run midway through the first half, boosting their lead to 28-11. Another 3 by Allen and two free throws by Morgan made it 36-15 with 5:17 left in the half, before Northwestern scored 13 straight points. More articles Help a family on Long Island. Donate to Newsday Charities. Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. .
Regan and Tindall injury doubts for England
Bristol hooker Mark Regan has emerged as England's latest casualty ahead of the Six Nations Championship opener against Wales at Twickenham. Gloucester sinks WaspsLeicester beat NewcastleSix Nations previewGloucester centre Mike Tindall, meanwhile, who is set to make a Test return next Saturday after missing the 2007 World Cup campaign through injury, suffered bruised ribs during his side's Guinness Premiership 18-17 victory over Wasps. .
|
