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Some Good News For US Economy


Two reports released Wednesday indicate some good news for the battered U.S. economy.

The Commerce Department says orders for expensive factory goods intended to last for at least three years rose a strong 3.4 percent in February after a long string of declines.

It was the biggest increase in more than a year.

A separate report from the Mortgage Bankers Association shows applications for home loans surged 32 percent last week. It was the third week in a row requests for loans to buy or refinance homes rose.

Mortgage interest rates fell to a record low last week, prompting many home owners or buyers to get into the market. A flurry of reports on home sales, home loan applications, and orders to factories Wednesday showed signs that the battered U.S. economy is improving.

The Commerce Department says orders for expensive factory goods intended to last for at least three years rose a strong 3.4 percent in February, after months of declines.

A separate report, from the Mortgage Bankers Association, shows applications for home loans surged 32 percent last week. It was the third week in a row requests for loans to buy or refinance homes rose.

Mortgage interest rates fell to a record low last week, prompting many home owners, or buyers, to get into the market.

That trend is showing up in the sales of newly-built homes, which rose 4.7 percent in February.

That increase is from a record-low sales level the previous month.


Some information for this report was provided by AFP, AP and Reuters

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