By The Associated Press
US housing rebound likely to handle spike in rates
LOS ANGELES (AP) â¿¿ When mortgage rates began climbing in May from rock-bottom lows, Kevin Williams worried he might miss out on an opportunity.So he listed his home in Orange County, Calif., and planned to buy a bigger house in San Diego after it sold. The process took all summer. Last week, he and his wife locked in a mortgage. The extra time added at least $1,000 more a year than if they had secured a loan in May. Still, Williams believes they made a prudent decision. Williams' justification â¿¿ buy now or risk paying more later â¿¿ is why many brokers and analysts remain confident that the housing recovery can handle higher mortgage rates. While the jump in rates should test the strength of the recovery, analysts foresee stable sales increases over the next year for a number of reasons. ___ Twitter dishes tantalizing tidbits in IPO treatise SAN FRANCISCO (AP) â¿¿ Twitter, a privately held company built on blurbs, has finally laid itself bare in documents that read more like a treatise than a tweet. The roughly 800-page filing Twitter Inc. released late Thursday on its way to an eagerly anticipated IPO contains tantalizing tidbits about its growth and its attempts to make money from its influential short messaging service. The suspense surrounding Twitter's IPO was heightened by the company's decision to take advantage of a law passed last year that allows companies with less than $1 billion in annual revenue to keep their IPO documents under seal until management is ready to make formal presentations to investors. ___ Not all federal agencies taking a hit in shutdown WASHINGTON (AP) â¿¿ As many high-profile agencies sit idle because of the federal government shutdown, others are humming along just fine, thank you.