Mortgage Rates, Dell Recall
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Metro Atlantaâs best home mortgage rates continue to hold at historic 30-year lows this week. After being grounded last week, the airlines are raising fares again to cover escalating fuel costs.
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Applications for home mortgages tumbled last week as short-term interest rates soared and refinancing requests fell back to November levels, an industry group said on Wednesday.
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The US Consumer Product Safety Commission has announced a voluntary recall of 990,000 AC adapters distributed by Round Rock-based Dell Inc.
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Dell Inc.'s recall of 4.1 million  notebook computer batteries could cost Sony Corp. anywhere from  10 billion yen to 50 billion yen ($85-$430 million), hurting  the Japanese electronics maker's short-term earnings and its  brand image, analysts said.
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Applications for U.S. home mortgages fell last week, which was shortened by the Thanksgiving holiday, as mortgage rates edged higher, an industry group said on Wednesday.
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The market ends the week in the red.Plus: Dell's Q4 profits fumble.... IBM answers phones.... and more.
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Plus: HP profit gains on cost cuts, cheaper components...Dell execs skewed numbers to meet earnings targets...Applied Materials posts lower quarterly profit.
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Investor's Business Daily - The Mortgage Bankers Association&#39;s applications index rose a seasonally adjusted 1.3% to 622.9 in the week ended Aug. 31, but multiple applications and refilings caused by recent credit problems may have played a role. Activity could slow on higher interest rates. The MBA said a dearth of demand for short-term loans sent 1-year ARM rates to 6.52%, near week-ago levels but well above longer-term rates. Average 30-year mortgages edged up to 6.42% from 6.41%. ARMs made up just 12.6% of applications in the week, down from more than 30% just a few weeks ago.
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Rising construction costs and potential climate legislation in Congress halt at least 18 proposed power plants in the past nine months.            Presented By     From Dellâ¢ Home!      &nbsp;&nbsp;The new Dellâ¢ Inspironâ¢ 1520 notebook with hi-def widescreen and long-range wireless for only $799. Add mobile broadband for $150. Limited time offer. Click here. www.dell.com    Ads by Pheedo
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DALLAS -- Dell Inc.'s fourth-quarter profits plunged 33 percent because of weak sales of laptops and notebooks, and the computer maker still faces an unresolved federal accounting probe, customer service complaints, several shareholder lawsuits and stiff competition from rivals.
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Investor's Business Daily - Despite rising interest rates, the Mortgage Bankers Association&#39;s seasonally adjusted index of application activity edged up 6.6% to 666.5 in the week ending June 8. Its index of purchase activity rose 7.2%, while refinancing activity climbed 5.6%. Analysts called it a scramble to head off rising borrowing costs. Mortgage rates are at their highest since mid-&#39;06.
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Interest rates on U.S. 30- and  15-year mortgages fell this week to their lowest levels since  early April as the housing market showed little sign of slowing  despite the Federal Reserve's move to raise interest rates,  mortgage finance company Freddie Mac said on Thursday.
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New applications for US home loans dropped more than 9 percent last week even as average 30-year mortgage rates also eased from the previous week, an industry group said on Wednesday.
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Investor's Business Daily - The average 30-year fixed rate fell to 6.31% vs. 6.46% the week prior, while average 15-year rates dipped to 5.97% from 6.31%. One-year ARMs fell to 5.66% from 5.74%, Freddie Mac said. The government-sponsored lender said the dip could &quot;give some relief&quot; to borrowers looking to refinance loans or buy a home.
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If you have an Inspiron, Latitude, or Precision notebook, then a recall is in effect for your power supply. &quot;Dell on Friday announced that it&#39;s recalling almost a million faulty power adapters sold with its
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(InfoWorld) - Dell Inc. has delayed filing its quarterly earnings report with the U.S. Securities and Exchange Commission (SEC) and may have to restate past earnings statements, the company said Monday. Dell's board of directors began an internal financial audit after learning in August 2005 that the SEC had begun an investigation of the company's revenue recognition and accounting practices for past fiscal years, Dell executives acknowledged Aug. 17 while announcing preliminary results for the second quarter. Since then, Dell learned of a second investigation when the U.S. Attorney for the Southern District of New York subpoenaed the company's financial reporting documents for the years from 2002 through today, said Dell spokesman TR Reid. Neither the SEC nor New York State has announced the results of their investigations, but Dell's internal audit has now revealed that the company may have misstated prior financial reports, including accruals, reserves and other balance sheet items. Until it settles those questions, the company cannot file its SEC Form 10-Q, which confirms its quarterly results, Reid said. Those preliminary results were bad even before Monday's news. Dell earned only US$502 million in profits for the second quarter of 2006, a drop of 51 percent below that period last year. The decline was a casualty of cutting prices in a slow market, Dell Chief Executive Officer Kevin Rollins told analysts in August. Dell, the world's largest PC vendor, has felt increasing competitive pressure from Hewlett-Packard Co. at the same timeÂ chip makers like Intel Corp. have been cutting prices on processors, helping to drive down PC prices. And on Aug. 14, Dell announcedÂ the largest recall of consumer electronics in U.S. history, recalling 4.1 million notebook batteries that suffered from a defect causing them to overheat and sometimes catch fire. Dell is cooperating with both investigations and "will take any appropriate remedial or corrective actions to address any problems," company chairman and founder Michael Dell said in a release. The company has also suspended its share repurchasing program and a meeting with analysts scheduled for Sept. 13. Â
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Mortgage and shopping blues combine to push stocks lower.