Report: GOP to try own tax hike as cliff talks stall again

Just hours after there was a reported breakthrough in fiscal cliff negotiations, there were signs on Tuesday that the GOP will move forward with a proposed tax hike, without involving the Democrats.Politico and The Hill said House Speaker John Boehner was preparing a bill that called for a tax hike on households making more than $1 million a year. If the proposal is similar to other ideas floated...

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Why gun control, fiscal cliff issues are on collision course

Congress now faces two critical issues with an early January deadline, gun violence and the fiscal cliff, which could lead to an extraordinary session to start off the New Year.Joint_Session_of_CongressAn intersection of the two hot-button issues is the prospect of deep cuts to the nation’s mental health system. But also on the radar is the distinct possibility that fiscal cliff and gun control debates...

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Constitution Check: Who has the power to fill the president’s cabinet seats?

Lyle Denniston looks at the controversy over two Cabinet nominations by President Barack Obama, and how it further erodes the constitutional respectability of the nomination and confirmation process.The statement at issue:“With Chuck Hagel, a former senator from Nebraska, emerging as a front-runner to be President Obama’s next secretary of defense, critics are taking aim at his record on Israel as...

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The daily gossip: Ben Affleck is open to running for Senate, and more

5 top pieces of celebrity gossip — from Claire Danes' newborn baby to Psy's pricy new Los Angeles condo1. Ben Affleck is open to running for SenateIn recent months, Ben Affleck has been in the news as much for his political activism as for his filmmaking — but would he ever give up the gridlock and constant scrutiny of Hollywood filmmaking for the gridlock and constant scrutiny of Congressional politics?...

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Kenyan house prices rise in Q3 on interest rate drop

NAIROBI (Reuters) - Kenya's house prices rose by 7.1 percent in the third quarter of 2012 compared to the same period last year, a real estate firm said on Wednesday, as lower mortgage rates on the back of falling interest rates spurred demand for prime real estate.Housing has been one of Kenya's fastest growing sectors over the last decade, fuelled by a burgeoning middle class with higher disposable...

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Rate on 30-year mortgage hits record low 3.40 pct.

WASHINGTON (AP) — Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates.Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.40 percent. That's down from last week's rate of 3.49 percent, which was the lowest since long-term mortgages began in the...

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Already signs Fed action is working: Boston Fed's Rosengren

QUINCY, Massachusetts (Reuters) - The Federal Reserve's decision last week to buy large quantities of mortgage-backed securities is already having a positive effect on wholesale mortgage rates, the president of the Federal Reserve Bank of Boston said on Thursday.Eric Rosengren, in a speech to a chamber of commerce in the Boston suburb of Quincy, also said the U.S. economy was clearly in better shape...

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Ahead of the Bell: Weekly mortgage rates

WASHINGTON (AP) — Loan buyer Freddie Mac reports Thursday on whether mortgage rates are continuing to hold near recent low rates.Last week the average rate on the 30-year fixed mortgage held steady at 3.55 percent, slightly above the record low of 3.49 percent that was reached in July. Meanwhile, the average rate on the 15-year fixed mortgage, a popular refinancing option, dipped to 2.85 percent...

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Ahead of the Bell: Weekly mortgage rates

WASHINGTON (AP) — Loan buyer Freddie Mac reports Thursday on whether mortgage rates are continuing to hold near recent low rates.Last week the average rate on the 30-year fixed mortgage held steady at 3.55 percent, slightly above the record low of 3.49 percent that was reached in July. Meanwhile, the average rate on the 15-year fixed mortgage, a popular refinancing option, dipped to 2.85 percent...

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U.S. mortgage refinancing applications rise as rates hit record low: MBA

NEW YORK (Reuters) - Applications for home mortgages dipped last week, though demand for refinancings rose as mortgage rates fell to a record low, an industry group said on Wednesday.The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, edged down 0.2 percent in the week ended Sept 14.The seasonally...

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