Word: homing
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...wild week. For some time, Americans had seemed able to ignore or nimbly thrust out of mind repeated symptoms of their out-of-joint economy, like alarming new price rises and further drubbings of the greenback abroad. But last week those distant, or perhaps too familiar, woes hit home, and hard, in a burst of financial hysteria that engulfed markets, speculators and ordinary investors big and small from Wall Street to Main Street...
...total of 58.62 points to a week's close of 838.99. In terms of points, that was the Dow's second steepest one-week decline ever; during the week of Oct. 16, 1978, when prices were hammered by news of a sharply falling dollar abroad and worsening inflation at home, the Dow sank by a half point more, but on a much smaller volume of trading. The number of shares that changed hands last week, some 250 million, was the largest in Big Board history...
...proliferating faster than the money managers can find ways to measure them. Among other elements in this unmeasured or "invisible" money stock are the credit lines consumers get with their Visa or Master Charge cards, the borrowing they do with a second or even third mortgage on a home, and the ability of companies to borrow on a line of bank credit, in the commercial paper market or even through an overseas financing subsidiary...
...early September, and are heading higher. Many bankers predict that they may reach 14% by year's end. But in 24 states, including Illinois, New York and Texas, usury laws hold rates to 12% or less. Lenders there are likely either to cut back on making home-buying loans or attach tighter conditions to them. A typical instance: First Federal Savings & Loan Association of Chicago has just shortened the repayment period on all mortgage loans to 25 years from 29 years, and now requires a minimum 25% down payment, vs. 20% formerly...
...corporate customers. That means builders are paying 16½% interest, vs. 15½% only two weeks ago. Various charges may bring the effective interest rate to a towering 20% by the end of the year. Builders will start fewer houses and charge more for them. The National Association of Home Builders figures that the average price of a new house, now $64,000, will go up $1,000 by Dec. 31, and the combination of price increases and higher mortgage interest rates will add $92 to the monthly payments of anyone buying that $64,000 house on a 30-year...