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Added on the 21/07/2018 14:56:36 - Copyright : Wochit
In March, the US Federal Reserve's lowering of interest rates fueled a housing boom. According to Business Insider, the Federal Housing Finance Agency says that the explosion shows no signs of subsiding. A seasonally adjusted index of prices rose 1.7% in September from the prior month, and prices jumped 7.8% from their year-ago period. Mortgage rates hit their thirteenth record-low of the year last week. The average 30-year fixed-rate mortgage rate fell to 2.72% from 2.84%. However, experts say the good times in the housing market aren't likely to last forever. We expect some moderation in the pace of housing starts in the face of the rapidly escalating health crisis, a faltering recovery, and softening labor market gains. Nancy Vanden Houten, Lead US economist, Oxford Economics
Business Insider reports that in September, sales of previously owned homes leaped 9.4%. According to the National Association of Realtors that's a seasonally adjusted annual rate of 6.54 million. This is the fourth-straight month of accelerating sales, and the latest rate is the fastest since 2006. Economists surveyed by Bloomberg expected the sales rate to climb to 6.3 million from August's revised 5.98 million. The US housing market has served as a bright spot in the slowing economic recovery. Record-low mortgage rates have driven more Americans to buy units.
Tinie Tempah is set to perform a free concert for Amazon Prime members as part of Amazon's Home of Black Friday event.
Major coffee companies may have to watch their backs after CafeX showcased their automated barista in San Francisco. Instead of smiling human baristas, a robotic arm serves up hot brews all with the flick of a finger. CafeX's robotic arm operates via a free smartphone app. Customers download the app, select their desired beans and brews, and automatically pay through the app. The robot arm then prepares the caffeinated drink and serves it to the customer, cutting out all human interaction.
Entrepreneurs in Ivory Coast, the world's largest cocoa bean producer, are positioning themselves to meet growing local demand for chocolate products. As Sonia Legg reports, they're keen to challenge expensive foreign brands with home made as well as homegrown chocolate.
Members of the Great Britain Olympic Team held a press conference at Heathrow, London, on Tuesday after returning from the 2016 Games in Rio de Janeiro. Team GB finished second in the overall medal standing, winning 67 medals in total; 27 golds, 23 silvers and 17 bronzes.
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