Mortgage buyer Freddie Mac said Thursday that the rate on the fixed 30-year loan ticked down to 3.88 percent, from 3.90 percent the previous week. That's slightly above the 3.87 percent average rate hit three weeks ago, which was the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year fixed mortgage fell to 3.13 percent, from 3.17 percent a week ago.
Coke, Pepsi make changes to avoid cancer warningNEW YORK (AP) Coca-Cola Co. and PepsiCo Inc. are changing the way they make the caramel coloring used in their sodas as a result of a California law that mandates drinks containing a certain level of carcinogens bear a cancer warning label. The companies said the changes will be expanded nationally to streamline their manufacturing processes. They've already been made for drinks sold in California. Coca-Cola and PepsiCo account for almost 90 percent of the soda market, according to industry tracker Beverage Digest. A representative for Dr Pepper Snapple Group Inc. was not immediately available for comment. The American Beverage Association, which represents the broader industry, said its member companies will continue to use caramel coloring in certain products but that adjustments were made to meet California's new standard. ___ By The Associated Press(equals) The Dow Jones industrial average closed up 70.61 points, or 0.6 percent, at 12,907.94. The S&P 500 added 13.28 points, or 1 percent, to 1,365.91. The Nasdaq composite index rose 34.73 points, or 1.2 percent, to 2,970.42. Natural gas fell 3 cents to finish at $2.27 per 1,000 cubic feet in New York. Benchmark crude rose 42 cents to end at $106.58 per barrel in New York. Heating oil rose 5 cents to finish at $3.27 per gallon and gasoline futures increased 3 cents to end at $3.31 per gallon. Brent crude, used to price foreign crude imported by many U.S. refiners to make gasoline, rose $1.32 to finish at $125.44 a barrel in London.
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