Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Long-term interest rates made another run at the lows of the year, the 10-year T-note approaching 4 percent, mortgages briefly below 5.75 percent, but today both moved back up toward the baseline bottom of the last couple of months, aided by a speech by Federal Reserve Chairman Alan Greenspan in which he indicated little concern for oil supplies or prices. Economic data continued on the soft side. Two near trend-changers: new claims for unemployment insurance popped up to 352,000 last week, the very top of this year's range; second, the University of Michigan's consumer confidence survey abruptly sank from 94.2 (and months in the mid-90s) to 87.5 in early October.  September retail sales surprised on the upside, but two-thirds of the gain was a spike in auto sales. Industrial product...