Mortgages rates fall to record lows; 30-year at 4.85%

Date: Thu, 26 Mar 2009 12:01:44 -0400

Mortgages rates fall to record lows; 30-year at 4.85%

The average rate on 30-year fixed-rate mortgages hit a record low this
week, after the Federal Reserve announced it would purchase Treasury
securities over the next six months, Freddie Mac's chief economist
said onThursday.

GEITHNER UNVEILS NEW RULES FOR THE WALL STREET GAME

Treasury Secretary Timothy Geithner is expected to propose sweeping
new financial regulations during Congressional testimony Thursday,
including tougher government oversight of financial risk taking,
according to reports.

CHINA CENTRAL BANKER SEES GROWTH RECOVERY ON 'SUPERIOR SYSTEM'

People's Bank of China Governor Zhou Xiaochuan, in a week in which he
called for the abandonment of the dollar as the world's reserve
currency, says economic growth in China is recovering due to the
country's "superior system
advantage."

ECONOMIC REPORT: U.S. ONGOING JOBLESS CLAIMS RISE 122,000 TO RECORD 5.56 MILLION

The number of people collecting state unemployment benefits reaches
yet another new record, jumping 122,000 to a seasonally adjusted 5.56
million, Labor Department data show. First-time claims also tick
higher.

BEST BUY'S FORECAST EXCEEDS ESTIMATES, LIFTING STOCK

Investors cheer a rosier-than-expected forecast by the nation's
largest electronics retailer even after it posted 23% drop in its
quarterly profit.