on 6 Jun 2013

PRAGUE: Cities in Germany and the Czech Republic were scrambling Wednesday to stave off potential disaster as a flood wave headed north, sending thousands of people fleeing their homes.

Hungary has also declared a state of alert as waters surge in the mighty Danube, which is also threatening cities in Austria.

In the Czech Republic, where eight people have already perished in the floods, thousands of households in the north were without power, gas and drinking water.

Several cities in the north of the Czech Republic and eastern Germany are threatened by the surging waters of the Elbe river after torrential rains across swathes of central Europe.

In the German city of Dresden, near the Czech border, several hundred people have been evacuated as water levels in the Elbe were forecast to reach up to nine metres.

Across the Czech Republic, over 19,000 have been evacuated since the floods began, firefighters' spokeswoman Nicole Zaoralova said.

Water levels in the Elbe were expected to peak in the Czech industrial city of the Usti nad Labem on Wednesday, said Jiri Petr, a spokesman for the Povodi Labe water company.

The rising river has already forced 3,700 people from their homes in Usti nad Labem, which lies about 30 kilometres from the German border, and flooded the local railway station.

The water levels expected in Usti nad Labem are close to those recorded in 2002 when massive flooding swept central Europe, killing 17 people in the Czech Republic alone.

In addition to the eight people already declared dead, Czech police are still searching for four missing people.

From Usti, the mass of water will head downstream to eastern Germany, where cities on the Elbe, including Dresden and Magdeburg, are bracing for the flood.

In Magdeburg, authorities declared a state of emergency and said they expected the river, normally at two metres, to rise to almost seven metres -- higher than in 2002.


View the original article here

on 1 Jun 2013

A slew of data about the housing market will be the focus of economic news in this holiday-shortened week.

Tuesday

The Standard & Poor's/Case-Shiller home-price index for December is scheduled to be released, and forecasters expect it to show that prices edged down 0.5 percent in 20 major cities. The index is calculated using a moving average of the previous three months, and captures when home sales close, not when contracts are agreed to. That means an expected dip in home prices - analysts predict a 2.3 percent drop in the year ended in January - should reflect the autumn lull in the economy. The question is whether the improved economic outlook over the past few months will translate into a firming up of home prices in early 2011.

Wednesday

The National Association of Realtors plans to release data on existing-home sales, which are expected to show that the pace of transactions edged down 1.5 percent in January, following a steep 12.3 percent rise in December. Even if the projection of a slight January dip proves accurate, it will be only a slight reversal of December's gains.

Thursday

Two more pieces of housing data before the weekend: The Commerce Department's new home sales data is expected to show an 8.8 percent decline in the pace of home purchases in January. It's not as bad as it sounds; it would represent only a partial reversal of a 17.5 percent gain in December.

And the Federal Housing Finance Agency is releasing its home-price index, which is expected to be unchanged.

Also Thursday, orders for durable goods are expected to show a rise of 3 percent. However, analysts expect orders for non-defense capital goods excluding aircraft, a less volatile measure of trends in business investment, to have fallen 0.9 percent.

Friday

The Commerce Department is expected to revise its fourth-quarter gross domestic product estimate from 3.2 percent to 3.3 percent.

- Neil Irwin

Neil's Must Reads

How has Tim Geithner gone from being the most-attacked public servant in town to last man standing among President Obama's economic team? Noam Scheiber has the story in The New Republic. And the McKinsey Global Institute has a new report on the productivity gains the United States will need to maintain its global economic edge.

Find links at washingtonpost.com/mustreads


View the original article here

Heritage Wines will host a series of free wine tastings this weekend.Caleb Ferguson for The New York Times Heritage Wines will host a series of free wine tastings this weekend.

The Brooklyn Flea expands its empire with the debut on Friday of SmorgasBar, located on Front Street near Fulton Street at the South Street Seaport, to help the area’s recovery from Hurricane Sandy. Through October, various vendors will set up shop next to a bar — which serves beer, wines and spirits — located inside a shipping container. The hours are 11 a.m. to 11 p.m. Friday and Saturdays, and 11 a.m. to 10 p.m. the rest of the week.

Heritage Wines, 237 DeKalb Avenue in Fort Greene, Brooklyn, will host a series of free wine tastings this weekend featuring producers who grow grapes in regions with volcanic land. Wines form Greece, Italy and Hungary will be tasted on Friday from 6 to 8 p.m. and Saturday and Sunday from 3 to 5 p.m.

A Polish festival with food, music and family-friendly activities will take place rain or shine Saturday and Sunday at the German Masonic Park, 89 Western Highway in Tappan, N.Y. For the food, expect traditional fare like pierogies, stuffed cabbage, kielbasa and potato pancakes.

An Indonesian food bazaar, which takes place a few weekends throughout the summer, will be open on Sunday from 10 a.m. to 4 p.m. outside the Al-Hikmah Mosque, 48-01 31st Avenue in Astoria, Queens. Attendees can expect traditional dishes like nasi rawon and a variety of skewers.

In conjunction with the premiere this weekend of HBO’s “Behind the Candelabra,” a film about Liberace, an exhibit displaying the performer’s famed grand piano, the world’s largest rhinestone and other items from the Liberace Foundation will be on display at the Time Warner Center. In a nod to Liberace’s taste for only drinking sparkling wine in public, Moët & Chandon will also have a large Champagne tower on display for the celebration. The exhibit is open through Memorial Day from 9 a.m. to 9 p.m.

Brunch service begins at the recently opened Little Prince, 199 Prince Street in SoHo, on Saturday. The menu skews toward a French influence with dishes like a brioche pain perdu soaked in vanilla crème with berry compote and ricotta, croquet madame. The menu is available from 11 a.m. to 3 p.m. Saturday and Sunday.


View the original article here

Bright red and oddly shaped, the restaurant, positioned at an angle and tucked away from the intersection of Routes 35 and 100 in Somers, has been in business since before 1925. Helmed by a series of owners and called Muscoot Diner, Muscoot Restaurant, Muscoot Inn — and for a short, wayward time, Little Brauhaus — the Scoot, as it is affectionately referred to by local residents, was taken over last year by Ann-Margaret Wagner and Eddie Lubic, owner of Eduardo’s in Mount Kisco.

The two gave the restaurant a face-lift with a new kitchen, fresh paint and repaired air-conditioning. But evocative details remain: terrazzo floors are worn bare by thousands of feet, bowed walls show the effects of time, and the bar looks like the meeting place it has been for countless get-togethers over the years.

A menu of good-value comfort food adds to the neighborhood-meeting-place feel. No one gets dressed up to go the Scoot, and the food is similarly straightforward. But that doesn’t mean it isn’t good — and sometimes very good. Steamed little neck clams in garlic butter broth were plump, sweet emissaries of the sea. A baby spinach salad was just-picked fresh and came with chunks of hard-boiled egg, red onion, terrific croutons, tomato and a vinaigrette that — like all of the Scoot’s sauces and dressings — was house-made. And a New York strip with mushroom sauce was a nice piece of steak cooked just to order and accompanied by garlicky mashed potatoes.

There are items you can get only at the Scoot, like Ann-Margaret’s Famous Fresh Rotisserie Chicken Dinner, half a chicken cooked to crispy but juicy deliciousness with a sweet sauce that married well with the rice pilaf and sautéed spinach sides. The meatballs were huge and garlicky, served with a mound of excellent ricotta over spaghetti, and the tasty clams casino, prepared according to “Eddie’s own recipe,” includes a secret combination of spices. The desserts, which change nightly, are mostly old fashioned and house-made. Though the rice pudding was watery and underdone and the chocolate layer cake was a bit stale, the German chocolate cake, made with just the right amount of shredded coconut and big chunks of pecans, was close to ideal.

Muscoot Tavern gives some nods to contemporary interests. Gluten-free pizza, pasta and buns are available. Whole wheat pasta is on the menu; Captain Lawrence beer, from Westchester’s own microbrewery, is on tap. And when extra virgin olive oil is used on a pizza, it is listed as just “EVOO.” But the approach remains old school. The calamari was served with a solid, basic marinara. The flavorful chicken wings come with classic blue cheese, celery and carrot sticks. And the chicken parmigiano was prepared the traditional way, with plenty of fresh mozzarella and that same marinara over linguine.

There is a popular lineup of thin-crust pizzas baked with fresh herbs. We tried “the Brooklyn,” which was basically a margherita, made with tomato sauce and fresh mozzarella and basil. It was lovely, but the best part of that evening was in simply watching the tables around us. The restaurant has live music on Saturday nights and a local guitarist and singer were playing. Children were happily running around, and their parents were greeting each other across tables. As the waiters deftly wove through the crowd, it was easy to imagine the same scene decades ago. Little has changed at places like Muscoot Tavern, and it is its link to the past — before subdivisions and S.U.V.’s, too-fussy food and “mixologists” — that is the restaurant’s greatest appeal.

?

Muscoot Tavern

105 Somerstown Turnpike, (Route 100), Somers

(914) 232-2800

muscoottavern.com

GOOD

THE SPACE An odd-shaped, intriguing space with bowed walls, a low ceiling that opens up in the center and a well-worn floor. Wheelchair accessible.

THE CROWD Casual, relaxed, often families or groups. Waiters are attentive.

THE BAR A cozy, welcoming area along one side of the main room. The wine list is small and mostly house ($7 to $9 a glass; $24 to $75 a bottle), the beers ($4 to $7 a glass) are basic (with a few exceptions, including Westchester’s own Captain Lawrence), but the drinks are big and the bartender is friendly.

THE BILL 14-inch pizzas run $12 to $20; entrees, $14 to $19 or low $20s for the occasional special. Major credit cards accepted.

WHAT WE LIKED Clams casino, chicken wings, steamed clams, fried calamari, baby spinach salad (special); Brooklyn pizza, New York strip, Danish baby back ribs (special), spaghetti with meatballs, rotisserie chicken, chicken parmigiano with linguine, fried lobster tail (special); German chocolate cake (special), lava cake, brownie sundae.

IF YOU GO Open Monday to Thursday, noon to 11 p.m.; Friday and Saturday, noon to midnight; Sunday, 4 to 10 p.m. Reservations for groups of eight or more only. Free parking on site.

RATINGS Excellent, Very Good, Good, Fair, Poor.


View the original article here

Andrew Leighton is not a golfer, but the prospect of living on a golf course was intriguing when he and his family discovered the Cross Creek neighborhood. Now, Leighton, his wife, Jackie and their two children enjoy the view from their home adjacent to the course, located along the border between Prince George's and Montgomery counties.

"Sitting on the deck, watching the golfers play, is very nice," said Leighton, 42, a native of Jamaica. The Leightons had lived in the nearby Cherry Hill Road area and had been looking for a bigger house. They found spacious, modern homes in Cross Creek, along with what Leighton called a very welcoming neighborhood, great for raising a family.

"Our neighbors' children attend the same Catholic school (St. Francis International School in Silver Spring) as my kids, so we've got a carpool thing going. There are six or seven homes nearby where I know everyone," he said.

Cross Creek has attracted families such as the Leightons as well as other residents who say the upscale development, located just off Interstate 95 and minutes from the Beltway, is perfect for commuting between Washington and Baltimore. And residents have found that once they return home from work, they are greeted by friendly neighbors and enjoy plenty of outlets to satisfy active lifestyles.

Many were attracted by the golf course, a challenging 6,300-yard par 70 layout along both sides of the Little Paint Branch stream. The course winds its way through the community, mainly behind the homes, and motorists need to be wary of "cart crossings" as golfers traverse the streets.

Patsy Koehler and her husband, Bob, avid golfers who had lived nearby off Fairland Road, made the move to the community in 2003. "We loved it," Patsy Koehler recalled. "Loved the golf course, loved the houses, loved it all."

"For a community course, it's beautiful," she said. "Big trees, greenery . . . a lot of natural environment because the builder didn't cut down the trees. You would never know it was in the middle of suburbia."

When the Koehlers aren't golfing, they're often watching other golfers from their home just off one of the fairways. They also spend time with friends in the neighborhood. Residents say the open interior layouts of the homes, built mostly by Ryan Homes and NV Homes, are perfect for socializing. "A marvelous house to entertain because it's not compartmentalized," said Bob Koehler, 58, whose home features an open floor plan, with large windows and a high ceiling.

Patsy Koehler, 63, serves as the president of the Cross Creek Club Homeowners Association, which sponsors a host of community events designed to unify residents in the development, which lacks continuous street connections because of the golf course and the natural areas. In addition to a spring festival and picnic, the association has held international dinners and jazz nights.

That has created an atmosphere that residents say encourages community engagement. Brian McDaniel, 41, a lawyer and avid golfer, said the course was a draw for him, as was Cross Creek's location, which keeps him within reach of his D.C. office as well as courthouses in Rockville, Upper Marlboro and Baltimore.

But McDaniel said Cross Creek is more than just a convenient place to live. He recalls his neighbors' friendliness while his family was moving in about three years ago and says the positive vibe has continued. "Our community is very diverse. There's a number of different ethnicities. We've all been very respectful of one another . . . learning about other cultures." McDaniel and his wife, Felecia, a fitness expert, and their 3-year-old daughter have found that there is plenty to do as a family. In addition to the golf course and neighborhood parks, the nearby Fairland Community Recreation Center features gymnastics and aquatics, and the Gardens Ice House offers skating. "You can't go wrong if you want to stay active," he said.

McDaniel and Leighton work with Koehler on the association's board, which serves more than 600 homeowners.


View the original article here


View the original article here

Diner’s Journal embraces news and opinion about recipes, wine, restaurants and other matters culinary. Contributors include Eric Asimov, Melissa Clark, Glenn Collins, Susan Edgerley, Florence Fabricant, Patrick Farrell, Jeff Gordinier, Elaine Louie, Julia Moskin, Maria Newman, Robert Simonson, David Tanis, Emily Weinstein, Pete Wells and others.


View the original article here

on 31 May 2013

I was touring a new home, and one of the features that really interested me was the central vacuum system. It seems like one of these would be really handy. What's involved when you install a central vacuum? Can you share some tips, especially what not to do? - Ray H., Newtown, Pa.

I've been really lucky for the past 25 years in that the last two houses I've lived in both have had a central vacuum system.

I have to tell you that I don't know if I would be able to handle going back to a traditional vacuum that you have to lug around the house.

Perhaps the biggest misconception about central vacuum systems is the myth that they can only be installed when building a new home. That's simply not true. It's absolutely easier to install one when the walls are wide open, but believe me, a talented installer can put one in an existing home with relative ease.

When you toured that new home, you saw outlets on the walls that looked something like an electrical outlet. These have a door that flips open, and the end of the central vac hose plugs into the hole. Small metal contacts inside the outlet cause the remote motor in the vacuum to immediately turn on, and you're ready to work.

The pipe in the walls is two inches in diameter. The inner diameter of the flexible hose that you use to clean with is about 11/4 inches. This is by design, so that it's almost impossible for the pipe hidden in the walls to become clogged. If an object can pass through the flexible hose in your hands, then it can also make it through the walls to the actual vacuum canister.

There are any number of mistakes you can make when installing a central vac system. One is putting in too few outlets. You have to account for furniture being in your way, so the length of the flexible hose doesn't always reach as far as you might think. You'll never regret having too many outlets. The parts needed to do this are inexpensive.

You can make a mistake in where you locate the canister.

Most systems have the motor and the canister as one unit. The motor can be loud, so I recommend putting this out in the garage. The added benefit to this is when you empty the canister or replace the bag, dust is kept out of your home.

Some installers will take a shortcut and not run the exhaust pipe outdoors. Don't fall into this trap. You want the air to exit the house in case it contains very fine dust particles. Always follow the instructions of the manufacturer. If they say to exhaust the machine outdoors, do it.

If you put your canister and motor in your garage, be sure there is an outlet on the machine. If not, then put in a regular outlet in a wall on the garage. It's so handy to be able to use the central vac to clean a car.

Perhaps the most common mistake I see when installers put in a central vac, and one that does exhaust outdoors, is leaving out a fresh-air intake.

A central vacuum consumes vast amount of air when it's turned on. If you have a very tight home, the operation of a central vacuum could possibly cause backdrafting of combustion gases into your home, which could cause carbon-monoxide poisoning. It can also make a house smell like smoke if you have wood-burning fireplaces or wood stoves as the vacuum gets its replacement air by sucking it down a chimney.

Tim Carter is a columnist for Tribune Media Services. He can be contacted through his Web site, www.askthebuilder.com.


View the original article here

I'm going to install hardwood flooring. I'm talking about traditional tongue-and-groove hardwood that's 3/4-inch thick, not engineered hardwood flooring. My plan is to try it myself and only call in installers if I mess up. What do you think of this idea? It can't be that difficult - you just nail the boards to the floor. The cost of having the entire job done by professionals would really put a hardship on my budget. What tips can you share to help me do this job myself? -Susan W., Palo Alto, Calif.

I usually encourage people to try things themselves, for many reasons. First, it's fulfilling to accomplish a task and stand back and survey your stellar results. It's also possible to save money. But when it comes to a complete rookie installing hardwood flooring, I have to tell you that you're probably going to fail.

Installation is a true art, given the material you've chosen. And forget what you've seen on some of the cable television home-improvement shows, where they gloss over the finer points of installing the material that can last generations.

I'll never forget watching the first hardwood floor go down on one of my jobs. The tools the installer used were some I'd never seen. He had a funky-looking spring-loaded nailing tool that he hit with a rubber mallet. It drove special nails at the precise angle through the tongue of each piece of the flooring.

But that was the glory part. What's critical is that the material be given time to acclimate to your home. This means that the wood must be brought into the home and allowed to normalize with the house's temperature and humidity. This is a step often overlooked by rookies. If you don't let the wood acclimate, gaps may eventually form between the pieces. It can take days for the wood to become stable.

Professional hardwood installers know all sorts of tricks to ensure that squeaks don't happen. They use special nails that have tiny barbs and/or ribbing on the shaft that allow the nails to really bite into the subflooring.

You'll also see professionals install 15-pound felt paper under the strips of hardwood. This is an added touch that helps prevent vapor from entering the underside of the wood in case the wood is being installed over a crawlspace or a damp basement. The felt paper also helps, to a very small degree, with squeaking.

Have you thought about how you're going to deal with a subfloor that has humps and low spots in it? If you make a mistake, you'll absolutely end up with squeaks or gaps down the road. Professionals use a long straightedge to detect them. They fill the low spots with asphalt shingles to support the hardwood strips.

What are you going to do when you nail your first piece? How will you know it's perfectly straight? The entire floor builds off the first piece, so it must be correctly installed. The pros that worked for me carefully strung a line across the room and laid the first pieces exactly to it. It's important that the line hover just above the wood so that the pieces you install don't nudge it as you face nail them.

The initial layout of the flooring is very critical, especially if you're extending the hardwood into several rooms. You want to avoid cutting narrow strips next to any of the walls where the strips run parallel to the walls. Be sure on the where the wood runs parallel that you don't install it tight to the drywall or plaster. Leave a gap that's as thick as the baseboard that is on the wall. The bottom of the baseboard needs to be slightly above the flooring so that the wood can expand into the void space in case humidity soars.

Tim Carter is a columnist for Tribune Media Services. He can be contacted through his Web site, askthebuilder.com.


View the original article here

The Obama administration wants to raise fees for borrowers and require larger down payments for home loans as part of a long-term effort to restructure the nation's housing market. But it warned that these measures could boost mortgage rates and make it harder for home buyers to secure the 30-year fixed-rate mortgage, a mainstay of American home buying for decades.

In a long-awaited white paper, the administration said it intends to wind down the federal mortgage giants Fannie Mae and Freddie Mac and curtail the Federal Housing Administration to help reduce the government's outsized role in mortgage funding.

The housing finance system, which has ensured that Americans can get home loans, came crashing down in the financial crisis, helping fuel millions of foreclosures and the recession.

"I think it's absolutely the case that the U.S. government provided too much support for housing, too strong incentives for investment in housing," Treasury Secretary Timothy F. Geithner said Friday during a speech at the Brookings Institution. He noted that in addition to those fundamental mistakes, the government "allowed a huge amount of basic mortgage business to shift where there was no regulation or oversight."

But in proposing a strategy for the future, administration officials acknowledged they are walking a tightrope. Any steps that dial back government support too dramatically - making mortgages more expensive - could extend the housing decline.

Geithner said that a new housing finance system without Fannie and Freddie could take seven years to put in place, suggesting it might fall in part to future administrations.

"We have to see the process of repair in the housing market completed," Geithner said.

The white paper focuses on a series of short steps to increase fees and down-payment requirements. The administration hopes these measures will allow banks to more effectively compete in offering loans without government guarantees.

The report offers three options for replacing Fannie and Freddie. They include creating a new government agency that would continue to insure mortgages or a new agency that would step in only during times of crisis. Each, however, could put taxpayers at more risk of having to bail out the mortgage market during big declines.

The most drastic option would end government backing for home loans beyond the FHA. But the administration warned that this measure could affect access to credit for many potential homeowners. It could boost mortgage rates the most, the officials said, and it could make it harder for community banks to compete in the housing market.

In not offering a single long-term vision for the housing finance system, the administration sought to avoid a contentious clash with Republicans, who often have portrayed the mortgage giants as the chief culprit in the financial crisis. Republicans are likely to agree with the administration's plan to reduce taxpayer support for mortgages over time.

But Rep. Spencer Bachus (R-Ala.), the new chairman of the House Financial Services Committee, said in a statement that while the proposal includes elements that GOP lawmakers have embraced in the past, it "isn't a plan to move us forward, but rather a collection of opinions to consider. What's needed is a real plan, and we intend to sit down with administration officials to find common ground ... we need legislation that protects taxpayers from further losses and future bailouts and builds a stable housing finance system based on private capital."


View the original article here

BOUNDARIES:The Intercounty Connector to the north, Old Gunpowder Road to the east, Briggs Chaney Road on the south and west. A few streets lie just east of Old Gunpowder and west of Briggs Chaney roads.

SCHOOLS: In Prince George's County, public schools that serve Cross Creek include Vansville Elementary School, Martin Luther King Jr. Middle School and High Point High School. In Montgomery County, the schools are Greencastle Elementary School, Benjamin Banneker Middle School, and the Northeast Consortium, which offers students the choice of James Hubert Blake, Springbrook or Paint Branch high schools.

HOME SALES: Sixteen homes in the Cross Creek community have sold in the past 12 months, according to Sharon DeGrouchy, an agent with Long & Foster, with prices ranging from $330,000 (a townhouse) to $620,000. Recently, four properties were on the market, including two short sales, with prices ranging from $350,000 to $695,000. Four homes were under contract, including two short sales and a foreclosure. Prices ranged from $329,000 to $589,000.

TRANSIT: Several Metrobus lines drop off and pick up passengers at the Briggs Chaney Park and Ride in Montgomery County, about five minutes from Cross Creek. Some of those buses travel to the Silver Spring Metro station. Montgomery County's Ride-On Route 21 also travels along Briggs Chaney and Fairland roads and stops at the Briggs Chaney Park and Ride. Commuter buses to Washington also stop at the Burtonsville Park and Ride, about 15 minutes away in Montgomery County. MARC commuter trains stop at the Muirkirk station, about 10 minutes away, off U.S. Route 1 in Prince George's County. The Greenbelt and Silver Spring Metro stations are 15 to 20 minutes by car.

WITHIN WALKING DISTANCE: Neighborhood parks, swimming pool, tennis courts.

WITHIN 15-20 MINUTES: Fairland Sports and Aquatics Complex, the Gardens Ice House skating rink, Laurel Regional Hospital, the University of Maryland, the National Agricultural Research Center, the Food and Drug Administration, NASA Goddard Space Flight Center, shopping areas in Laurel and Silver Spring.


View the original article here

The Obama administration outlined its plan to phase out government support of the U.S. housing finance system - and wind down Fannie Mae and Freddie Mac.¶ The plan - a sharp change of course after a decades-long campaign to extend homeownership to more Americans - would shift more of the burden to the private sector. Underwriting standards for home loans would tighten. Borrowers could face higher rates and fees as well as bigger down payments.¶ Any steps that dial back government support too dramatically - making mortgages more expensive - could extend the housing decline and lock buyers out of the market. The blueprint emphasized the importance of rental options.

Business

New York Stock Exchange was near agreement to be acquired by Deutsche Borse in a $25 billion deal that would symbolize New York's fading role in global finance.

J.P. Morgan will accept gold as collateral in some transactions, putting the metal on par with triple-A-rated Treasurys.

Toyota electronics were absolved of fault by federal highway safety officials who said driver error was to blame for most accidents involving sudden acceleration issues. Pedals and floor mats were found to have contributed. LaHood: "Toyotas are safe to drive."

Twitter's estimated valuations of as much as $10 billion raise speculation of a tech sector bubble. Twitter made $45 million in revenue in 2010.

HSBC and Lloyds will begin reporting results on a quarterly basis, joining banks across Europe in a move toward greater transparency.

Investment banks say that banks have overcharged them for currency trades.

Nokia and Microsoft agreed to partner. The software giant's Windows Phone will be adapted as the operating system for Nokia's mobile phones. Nokia's stock dropped on the news.

Hewlett-Packard outlined plans to sell a tablet computer and smartphones using Palm software after acquiring Palm last year for $1.2 billion.

Chipotle, in a widening immigration investigation, let go hundreds of workers in Minnesota.

Alliant and an EADS unit plan to partner to pitch a new 300-foot commercial space rocket, called Liberty. Initial test flight as soon as 2013.

NFL offered hundreds of fans who went without seats at the Super Bowl tickets to the 2012 championship game.


View the original article here

Behind every really good writer stands a really good editor, the unsung hero who offers advice on ways to carve off excess words, make arguments more succinct and populate novels with more-compelling characters and plotlines.

Filmmakers also have editors. Their work is so valued, the movie industry includes it in the annual Academy Awards.

Architects do not have editors to offer feedback on their designs (a service that many critics and owners might suggest is sorely needed). But there are architectural editors whose function is similar to that of an acquisition editor at a large publishing house - their job is to acquire talent and sell their work. Dan Gregory, editor in chief of Novato, Calif.-based Houseplans.com, the nation's largest online home-planning service, is one of them.

Gregory's unusual credentials and depth of knowledge in home design are unequaled in the home-planning business. He has a PhD in architectural history from the University of California at Berkeley, where his studies included two years of studio design with students training to become architects. In a recent interview, he called it "an invaluable experience for understanding how they think."

During the 27 years he was an editor at Sunset magazine, he sifted through the work of hundreds of architects to showcase the most unusual and well-crafted houses in the Western United States, the area of Sunset's editorial focus. In addition to his editing duties, Gregory was involved in the design and construction of real houses. He helped select the architect for Sunset's annual Idea Houses and then worked closely with the architect and builder as those houses were designed and built.

Spectrum of choices

In the three years since he joined Houseplans.com, Gregory has reinvigorated a massive archive of 30,000 plans and added some unusual offerings.

Like any good acquisition editor, Gregory has gone after residential architects whose work he regards as widely appealing. Some of them, he said, needed coaxing to make their work available to a wider public and to homeowners with whom they would not have a personal relationship, while others, including Sarah Susanka, the best-selling author of the "Not So Big" series of books on home design, were already doing this.

A quick perusal of the "Exclusive Plans" section on Houseplans.com indicates that Gregory is catholic in his choices. Tacitly acknowledging that some very gifted home designers are not registered architects, his roster currently includes five designers and 27 architects. Collectively, the styles of the 27 solo practitioners or partnerships run the gamut from traditional Craftsman and Colonial Revival to cutting-edge modern. Each listing posts four or five plans, enough to sense the designer's style and "idea of home." Cleverly, the personal graphic style of each designer is retained in the presentation, which makes it easier to keep them straight, if you view five or 10 in a sitting.

In addition to the work of living architects, Gregory has secured permission from the Environmental Design Archives at U.C. Berkeley to sell the work of three distinguished California architects and one developer. Looking through the photographs and drawings of the late William Turnbull's tiny Sea Ranch cottage (designed in 1980 as employee housing for the Sea Ranch Community on the Pacific Coast, about 100 miles north of San Francisco), Web site visitors will be captivated by the wonderfully playful exposed roof trusses in the interiors. They are the kind of universally appealing detail that most people could never imagine having in their own house. The seriously interested visitor will note that the house is very small (650 square feet) and probably would want to make changes, which can easily be done, Gregory said.

A different kind of box

Beyond these unusual offerings to individual homeowners, Gregory and his new chief executive, Lisa Kalmbach, have more-ambitious ideas. As the home-building industry slowly recovers, they are developing a portfolio of plans for a home-buying public that appears to be embracing a dramatically different idea of "home sweet home," one that is both smaller and simpler than the houses they favored in recent decades. For home builders, this means a dramatically different type of box.

Home builders, especially those that build 10 or more a year, have always gone for houses that were in essence simple boxes that were easy to frame, Gregory said. Over the past 30 years, as the boxes got bigger, embellishments were added - more frills (six-piece crown moldings for huge rooms with 10- and 11-foot ceiling heights), more props (columned "arcade" vestibules for cavernous master suites) and multi-gabled roofs that made a house look bigger and more grand.

Gregory's "simple boxes" for today's market have shapes that can be easily executed by home builders who do not have the skilled carpenters who could deliver Turnbull's playful exposed trusses. Instead, the appeal - like that of an expensive Savile Row suit - is achieved by a consistency in detailing and good proportions. Gregory said that good but simple detailing can create the strong first impression that builders always want to project in their furnished models; it also has staying power. Offering an example, he noted that when the ceiling height is nine feet, which is almost universal in new houses now, using proportionally larger trim around the doors, windows, wall bases and ceiling line, and continuing this through the entire house, not just in the public spaces, will make the spaces feel more comfortable to the owners and give the house better "flow," another "desirable" that builders look for in choosing designs.

Elaborating on features for the 2011 version of the "simple box for home builders," but noting that they also apply to any well-designed house, Gregory said that he looks for floor plans that do not have "dead-end circulation" in the main living areas. For example, a living room with only one entry can become "unused real estate," a luxury that most households today cannot afford.

He also looks for flexibility in the floor plan. For home builders, this means appeal to more segments of the market; for homeowners, this means that rooms can be used differently over the years. Gregory likes designs that can be built out in different ways, depending on how many bedrooms, for example, the homeowner wants.

Gregory also prefers a simple roofline without the fake dormers, multiple gables or steep pitches of the McMansion era, all features that increased cost but did not provide any additional utility to the owners.

Katherine Salant has an architecture degree from Harvard. A native Washingtonian, she grew up in Fairfax County; she now lives in Michigan.


View the original article here

Q. I have to make an unexpected repair to my poured concrete foundation. A water leak led me to remove drywall in my basement, and to my surprise, I discovered rows of holes 5/8-inch diameter in my concrete walls. Some of the holes have water dripping through them. These perfectly drilled holes are not random and are as deep as the foundation is thick. What created them? How can I patch them so they don't leak? What's the best material to use when doing concrete repair for cracks or holes like this? - Bryan R., Cincinnati

A. The holes in your foundation were not drilled; they were created by smooth steel rods that were part of the foundation-form panels used to create your concrete foundation.

These rods passed through the concrete forms. Slots at each end of the rod held a steel pin that prevented the forms from expanding outward under the enormous pressure of the liquid concrete that filled the forms to create your foundation walls. Once the concrete set and hardened, the form panels were removed and the rods tapped out with a hammer, leaving these holes with the smooth bore.

I have to believe that the foundation contractor used a concrete repair product at the very least on the outside face of your foundation that's now covered with dirt. Unfortunately, he may have used the wrong product for basement concrete repair.

There are many concrete repair products out there, but my personal favorite for this situation is a powder that contains Portland cement, bentonite clay and some other ingredients that cause the patching material to harden and expand at the same time. Bentonite is a fine clay that expands when it gets wet.

Many homeowners might try to repair and patch these holes with bricklayer's mortar or a mixture of Portland cement and sand. Or they may think that an epoxy concrete repair is even stronger. The trouble with regular mortar and Portland cement is that they shrink ever so slightly as they harden and cure. This creates a tiny pathway for water to enter.

You need a product that actually expands as it cures, much like you see with spray foam insulation. If you've ever used this foam, you know it goes into a crack one size, but hours later, it's much bigger, as the foam has hardened.

These expanding hydraulic concrete-repair cement products are available at hardware stores, building supply businesses and home centers. They come as a dry powder in a can and will clearly say on the label that they expand as they harden. This is mission critical. Look for that on the label.

These products often contain ingredients that cause them to harden pretty quickly. It's not uncommon to have work time measured in just a few minutes. I'd only mix up what I could use in 10 minutes. You can sometimes extend the work time by refrigerating the powder to get it cold and using very cold water as you mix it.

Be sure to vacuum out the holes and remove all debris. If you can insert a small bottlebrush to get out any dust or silt that's on the concrete, this will really help ensure patching success. You want the concrete surface in each hole to be perfectly clean.

Just before filling each hole with the expanding concrete-repair product, use an old spray bottle and spritz the hole with a spray of clean water. You want the surface of the inside of the hole to be slightly damp. This will really help the patching material bond with the dry concrete.

Tim Carter is a columnist for Tribune Media Services. He can be contacted through his Web site, www.askthebuilder.com .


View the original article here

on 30 May 2013

Picky, picky, picky! Are today's first-time home buyers passing up great deals because they insist on flawless "move-in ready" houses requiring little or no changes - even at the starter-home price levels at which shoppers traditionally have been willing to factor fix-ups and renovations into their offers?

Or are they simply reflecting market realities? They see record inventories of houses sitting unsold, and they may not have the money, time or inclination to do fix-ups after making the purchase.

Large numbers of real estate agents consider this a significant and perplexing issue, one that's having a negative effect on the housing recovery. New research suggests that they may be on to something. A survey by Coldwell Banker Real Estate of 300 first-time buyers found that a startling 87 percent said that "finding a move-in ready home is important" to them.

A posting about fussy buyers on the 203,000-member "Active Rain" online real estate network in late February drew strong support from agents nationwide. Holly Kirby Weatherwax, an agent based in Reston, who wrote the original blog post, said in an interview that some shoppers are so picky that they walk out of well-priced houses solely because of relatively minor imperfections such as:

"They're missing out on some excellent, older lived-in houses - it's a shame," she said, "simply because they can't overlook" flaws that would not have bothered shoppers during the previous two decades.

Zillow, a giant Seattle-based online real estate research and data company, suggests that any shift by consumers toward greater attention to home details may be an inevitable byproduct of today's higher down-payment minimums and more stringent loan qualification requirements.

According to Zillow researchers, the median down payment in 11 major metropolitan areas has jumped to 20 percent, compared with "close to zero" in some of the same areas just five years ago. In other words, first-time buyers today have to put a huge effort into coming up with their down payment, and they want to make sure that equity investment goes into the house that will need the fewest and least-costly upgrades. Also, Zillow spokeswoman Katie Curnutte said, shoppers in 2011 "are really in the driver's seat. Nationally, buyers who purchased homes [last] December paid 4 percent less than the asking price. That points to a lot of room for negotiating and opportunities for buyers to be choosy."

Some agents suggest that buyers today tend to be hipper and more sophisticated about home design, furnishings, floor materials, countertops and appliances because they are exposed to far more information on cable TV than earlier generations. Michael Jacobs, a Coldwell Banker agent in Pasadena, Calif., says cable channels such as HGTV "certainly have opened the eyes of more buyers" to design and presentation details. He said he's held open houses where young buyers walk in and say immediately, "Oh, this house has been staged" - an observation virtually unheard of years ago.

But constant exposure to cable design shows may also be fostering a lack of realism on the part of some shoppers, according to agents. Cindy Westfall of Prudential NW Properties in Lake Oswego, Ore., said the shows have "given some buyers the impression that all homes should have granite counters, stainless steel appliances, etc. There are a few [shoppers who] want all the bells and whistles of that $500,000 house for $200,000, and no amount of talking to them on the realities can change their minds."

In an interview, Westfall said she recently had a buyer who was interested only in older houses under $200,000 - starter-home price territory - but who wouldn't tolerate even the sort of minor imperfections and nicks that older houses typically display.

"The fact is," Westfall said, "you just can't have it all. You can't have the big yard, the top-line updates and all that in a starter home. You've got to compromise somewhere or else you'll never buy anything."


View the original article here

Wendy Carlson for The New York TimesColorful décor and convivial atmosphere define the dining at Spicy Green Bean in Glastonbury, Conn.

Let me begin my salute to B.Y.O.B. restaurants with a miser’s confession: I almost never spend more than $50 on wine. Whatever your particular price ceiling, bringing your own wine to a restaurant makes sterling sense. That $50 bottle on a restaurant’s wine list probably cost them $19, while they’d charge $100 for the $50 bottle you’re bringing. With the money you save, you can order a lot of extra starters.

Sliders stacked so high they sway.

And you’ll want to order them at Spicy Green Bean. The chef-owner Kathy Denisiewicz’s casual hole-in-the-wall eatery has built a cult following with its wildly eclectic, food-of-the-mood fiesta of delights. The dinner menu, rife with exclamation marks (“Super Duper Suppers!!!”) and neon-colored letters, hews to a simple format: each week, four different appetizers and four different entrees, as well as a big menu of sandwiches, soups and wraps, some listed under “Kooky Konkoctions.”

If it sounds cloyingly cute, the food is not. We enjoyed superb starter dishes, one after another. French onion soup contained a floating grilled-cheese sandwich made with sharp Irish Cheddar and bearing a dab of bright-green basil pesto. Pork sliders offered candied slabs of pork belly, fried nearly crunchy, on sweet rolls with lettuce, tomato and sriracha mayo. Equally yummy was a tower of fried green and vine-ripened red tomatoes layered with mozzarella, thin-sliced avocado and a generous pile of crab salad.

On and on it went, a jamboree of tastes. We dug eagerly into pancakes mined with spring peas and scallions and topped with smoked salmon, crème fraîche, dill and capers and bits of red onion. We fought over a plantain stuffed with ground beef and chorizo, welded together with melted Cheddar and slathered liberally with a cilantro-laden tomato salsa. Surf-and-turf sliders, stacked so high they swayed, combined a deep-fried oyster and seared steak and was garnished with lettuce, tomato and a horseradish cream. To make her out-of-this-world shrimp toasts, Ms. Denisiewicz coats slices of country white bread with cream cheese and scallions, crab Rangoon-style, then fries them and tops them with shrimp and a sifting of a secret spice combo from what she calls the Shaker of Love. (“Nice try,” she chuckled, when I asked later for the ingredients.)

Our final appetizer, an Asian short rib with macaroni and cheese, wasn’t on the menu, but a woman at the next table was eating it, providing my chance to utter the immortal restaurant line, “I’ll have what she’s having!” And sure enough, the dish proved the high point of the evening, a surreally tasty pork short rib, deep-fried till crisp, then tossed with salt and a sweet chili sauce combining scallions, brown sugar and habanero.

After such thrills, some entrees proved anticlimactic. A playful variation on surf-and-turf included a shrimp and crab custard too soupy in consistency and blasted with tarragon; the steak, a generously sized New York strip, got lost amid a busy orchestration of quartered tomatoes, pimento cheese, crisp-fried prosciutto and arugula. Fish Français suffered from an overly brothy sherried herbed butter sauce, with wilted spinach and fried twists of soppressata that overwhelmed the swai, a mild-tasting Asian white fish. Sweet-potato falafel, dry and bland, needed more tzatziki. And a platter of classic Italian treats — breaded fried chicken cutlet and eggplant Parmesan served with a meatball over bucatini in a heavy tomato sauce — seemed aimed at aficionados of diner-style red sauce.

Some entrees bowl you over through mass alone. Buttermilk fried chicken, half a bird served on a large tray with baked beans, mashed potatoes, macaroni and cheese and corn, seemed sized for family sharing. A bowl of linguine smothered basil-and-sundried-tomato-inflected chicken sausage in roasted onions and bell peppers with an over-the-top creamy, cheesy red-pepper Alfredo sauce. A towering Cubano burger took a thick hamburger and piled it high with pulled pork, ham and cheese — a dripping colossus of a meal. I haven’t taken this much food home in a long time.


View the original article here

Spring offers many opportunities for lectures, workshops, tours and other educational programs. Before you get busy in the garden, take advantage of one of the many sessions offered this month. Call to ascertain if pre-registration is required. If a fee is not shown, the event is free.

Washington

Hillwood Estate, Museum and Gardens, 4155 Linnean Ave. NW, 202-686-5807, www.hillwood museum.org

U.S. National Arboretum, 3501 New York Ave. NE, 202-245-4521, www.usna.usda.gov

United States Botanic Garden, 100 Maryland Ave. SW, 202-225-1116, www.usbg.gov

March 12: Orchid Care Lecture & Repotting Workshops. Join orchid curator David Lafond for a lecture and learn orchid care, cultivation, classification and information about the collection of Marjorie Merriweather Post. 12:30-1:30 p.m. Bring one or two orchids from your collection (and an unglazed terra cotta pot for each) and learn repotting techniques in workshops. Limited to 10 participants per workshop. 10:30 a.m.-noon and 1:30-3 p.m. Suggested donation $25. Hillwood.

March 12: Garden Production Facility Open House. Once-a-year opportunity for the public to visit the U.S. Botanic Garden's growing facility, the largest greenhouse complex supporting a public garden in the United States. Meet the growers and wander through this working wonderland of plants. 10:30 a.m., 11 a.m., 11:30 a.m., 12:30 p.m., 1 p.m., 1:30 p.m. $5. U.S. Botanic Garden Production Facility. Directions provided after registration.

March 15, 17, 19, 22, 24, 26, 29, 31: Join staff orchid experts and volunteers for a 15-minute orchid repotting demonstration. 11 a.m. and 1 p.m. Hillwood.

March 17: Full Moon Hike for Groups. Put together a group of up to 25 people for a brisk two-hour walk under the full moon. It is not recommended for children under 16. 7-9 p.m. $550. Meet in the visitor information trailer, U.S. National Arboretum.

March 17, 18: Full Moon Hike. Join a four-mile full moon hike with a staff member as your guide. 8-10 p.m. $22. Meet in the visitor information trailer, U.S. National Arboretum.

March 18: Bobby Ward, author of "Chlorophyll in His Veins: J.C. Raulston, Horticultural Ambassador," will discuss Raulston, founder of the North Carolina State University arboretum, and some of his plant introductions. Noon-1 p.m. U.S. Botanic Garden.

March 19: Bonsai Repotting Workshop. Learn when and how to repot your bonsai with guidance from a museum curator. Individual attention is provided for each tree brought in by students (limit one large or two small bonsai). Soil and tools are provided. 1-4 p.m. $29. National Bonsai & Penjing Museum, U.S. National Arboretum.

March 20: Losing Paradise? Endangered Plants Here and Around the World. This slide show presentation is a traveling exhibition by the American Society of Botanical Artists that explores the conservation efforts of scientists and illustrators around the globe. 2-3 p.m., U.S. Botanic Garden.


View the original article here

Fundamental changes are probably ahead for the American mortgage system as the federal government pushes to unwind its unprecedented involvement in the housing market.

These changes could significantly raise the down payments demanded by lenders, curtail the availability of long-term mortgages with fixed interest rates, and increase the cost of borrowing in general.

The government's effort to scale back its role in housing could show up in small ways soon. In April, the Federal Housing Administration plans to raise the annual premium it charges borrowers by a quarter of a percentage point. In October, the maximum size of loans that the federal government backs is scheduled to drop to $625,500 from $729,750. The most dramatic proposal - eliminating mortgage financiers Fannie Mae and Freddie Mac - could take five to seven years.

The thinking is that the government cannot sustain its role in the housing finance system. Federally backed loans make up an outsize share of home purchases - about 90 percent - through Fannie, Freddie and the FHA. Taxpayers have kicked in more than $130 billion to cover Fannie and Freddie losses during the housing crisis, and they could be on the hook for more if the FHA depletes its cash reserves, which are already lower than the level required by law.

All three institutions guarantee that payments will be made to mortgage investors, even when loans go bad. Those guarantees helped keep the housing market from coming to a standstill during the darkest days of the economic crisis.

"But the government is taking on a lot of credit risk," said Mark Zandi, chief economist at Moody's Analytics. "So if loans go bad, it's on the taxpayer. Everyone would find it preferable if the private sector were to take more of the risk."

Loan limits

To that end, the federal government is eager to tackle the "jumbo" loan limits.

In the District and most of its neighboring counties, a temporary federal policy allows the government to back mortgages up to $729,750. Such loans typically carry a lower interest rate than those without government backing, in part because the federal guarantee makes them a safer bet for investors.

"Investors are willing to accept a lower return if their investment is less risky," said Keith Gumbinger, a vice president at HSH Associates.

The Obama administration has supported allowing the maximum loan limit to drop to $625,500 starting Oct. 1 , and Congress is expected to back that move. (Loan limits may be lowered even further for FHA-insured loans, federal officials said, though no details are available.)

Once the cap is lowered, loans larger than $625,500 will fall into the "jumbo" category. Jumbos are perceived to be more risky and therefore often face tougher requirements, such as 30 percent down payments and stellar credit scores.

Standards might ease if the private sector reenters that market, said Eric Gates, president of Apex Home Loans in Rockville. But if the $625,500 cap were in place today, it could lock many potential buyers out, he said.


View the original article here

As the labor market improved, the number of homeowners who fell behind on their mortgage payments dropped in the final three months of last year to the lowest level since 2008, according to a national survey released Thursday by the Mortgage Bankers Association.

But the delinquency rate remains higher than what's traditionally normal, and the volume of homes in some stage of foreclosure returned to the record high of early 2010, the report said. The survey covered nearly nine out of 10 primary mortgages.

The data offer a mixed view of the housing market's prospects for recovery any time soon. While delinquency rates have improved across all types of home loans, a swelling supply of low-priced, foreclosed properties suggests that home values could keep eroding and further undermine the ailing housing sector.

"We have to clear out those distressed properties before we can talk about any kind of housing market recovery," said Guy Cecala, publisher of Inside Mortgage Finance. "There are signs of improvement, but I think it's a little early to break out the champagne."

The report's seasonally adjusted figures showed that 8.2 percent of the outstanding loans were delinquent in the fourth quarter of last year, down from 9.1 percent the previous quarter and 9.5 percent a year earlier. Those figures do not include loans that were in foreclosure.

Fewer loans were seriously overdue. The number that were at least three payments past due, for instance, fell to 3.6 percent from a high of 5 percent at the end of the first quarter of 2010.

Mortgages that were only one payment past due are at the lowest level since the recession began in late 2007, suggesting that the employment picture is improving, said Jay Brinkmann, the mortgage banking group's chief economist.

"First-time delinquency is very much a measure of distress in the employment system," he said. "I see all of this as pretty good news. It looks like we've clearly hit the turning point."

Even the percentage of homes entering the foreclosure process slipped a bit, to 1.28 percent from 1.32 percent, in the third quarter. Foreclosure starts rose in only 11 states, with the largest increase in Maryland, where the percentage of homes entering foreclosure rose to 0.9 percent.

Yet the number of loans stuck in foreclosure was up, and that was mostly because many of the country's largest lenders temporarily stopped seizing homes from delinquent borrowers in October after widespread reports of flawed and fraudulent documents.

With so many loans in limbo, the number of homes in some stage of foreclosure rose to 4.63 percent in the fourth quarter. That's up from 4.4 percent the previous quarter and 4.58 percent a year earlier.

About half of the foreclosures are concentrated in five states - Florida, California, Illinois, New York, and New Jersey, Brinkmann said. Four of those states require court approval for foreclosures. When problems with the foreclosure paperwork surfaced in the fall, many of the troubled loans got stuck in the legal process, adding to the foreclosure supply in those areas.

Bank of America, the country's largest financial institution, has since lifted its freeze, and other lenders are starting to do so. Even so, distressed properties continue to make up an unusually large share of home sales.

In January, nearly half of all home purchases involved a distressed property, namely foreclosures or "short sale" transactions that enable borrowers to sell their homes for less than they owe on their mortgages, according to the Campbell/Inside Mortgage Finance Housing Pulse, an index that tracks such sales.

Foreclosures tend to drag down the values of surrounding properties, making many borrowers vulnerable to losing their homes. That's because many borrowers end up owing more on their mortgages than their homes are worth. If they lose their jobs or face other financial setbacks, they are unable to sell or refinance their way out of trouble.

Cecala of Inside Mortgage Finance estimated that 4.5 million loans are seriously delinquent or in the foreclosure process already, based on Thursday's survey. Even if 1 million of those loans were modified each year and another 1 million foreclosures were sold, it would take more than two years to clear them off the market, he said.

"And that's assuming that no more foreclosures are added to that inventory," he said.


View the original article here

Mortgage rates fell to the lowest level in almost two months, tracking a drop in Treasury yields as Japan's deepening nuclear crisis spurred demand for relatively safe investments.

The average rate for 30-year fixed loans declined to 4.76 percent this week from 4.88 percent last week, according to Freddie Mac. The average 15-year rate was 3.97 percent, down from 4.15 percent.

The average rate on adjustable-rate mortgages that are fixed for the first five years was 3.57 percent this week, down from 3.73 percent last week. Rates on one-year ARMs averaged 3.17 percent, down from 3.21 percent.

Yields on 10-year Treasury notes, which are benchmarks for some consumer loans, fell this week to the lowest level since December, and stocks sank, reflecting investors' concern about the situation in Japan.

"There's been a little flight to - I don't want to say safety - quality," said Keith Gumbinger, vice president of HSH Associates, a publisher of consumer loan data in Pompton Plains, N.J. "As long as trouble remains in the forefront, interest rates are likely to be lower than they otherwise would be."

Mortgage applications fell 0.7 percent in the week ended March 11, according to the Mortgage Bankers Association. The association's measure of purchase applications declined 4 percent; refinancings climbed 0.9 percent.

Housing starts plunged to a 22-month low in February, and permits for construction fell to a record low, the Commerce Department said. Homebuilders are competing with foreclosures and falling prices for existing homes.

Mortgage rates began climbing from a record low of 4.17 percent in the week ended Nov. 11 and reached a 10-month high of 5.05 percent in February.

- From news services

4.88

Last week

4.76

This week


View the original article here

Popular post

Labels

About (28) Actress (3) Addicts (1) Adjust (8) Suzuki (1) Swift (2) Switzerland (1) TMobile (1) Tablets (1) Trailer (18) Train (1) Twitter (3) Tyler (2) UNITED (10) Western (2) Windows (11) Working (1) YouTube (7) YouTubes (1) adsense (2) adult (1) swimwear (5) united bank limited (1) vehicle (2) worlds (1) young (6) youtube music (2) youtube.com (1)