Rate on 30-year mortgage ticks up to 4 percent

WASHINGTON (AP) — The average rate on the 30-year mortgage hovered above the record low for a third straight week. But cheap mortgage rates have done little to boost home sales or refinancing.
Freddie Mac said Thursday that the rate on the 30-year loan ticked up to 4 percent from 3.99 percent. Six weeks ago, it dropped to a record low of 3.94 percent, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage rose to 3.31 percent from 3.30 percent. Six weeks ago, it hit a record low of 3.26 percent.
Rates have been below 5 percent for all but two weeks this year. Yet this year could be the worst for home sales in 14 years.
Mortgage applications fell 10 percent this week from the previous week, according to the Mortgage Bankers Association.
High unemployment and scant wage gains have made it harder for many people to qualify for loans. Many Americans don't want to sink money into a home that could lose value over the next three to four years. And most homeowners who can afford to refinance already have.
The low rates have caused a modest boom in refinancing, but that benefit might be wearing off. Most people who can afford to refinance have already locked in rates below 5 percent. Refinancing fell 12.2 percent last week, according to the mortgage bankers group.
The average rates don't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fees for the 30-year and 15-year fixed mortgages were unchanged at 0.7.
The average rate on the five-year adjustable loan fell to 2.97 percent from 2.98 percent. The average rate on the one-year adjustable loan increased to 2.98 percent from 2.95 percent.
The average fees on the five-year and one-year adjustable loans were both unchanged at 0.6.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country Monday through Wednesday of each week.

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Rate on 30-year fixed mortgage falls to 3.98 pct.

WASHINGTON (AP) — The average rate on the 30-year fixed mortgage hovered above its record low for a fourth straight week. But cheap mortgage rates have done little to boost home sales or refinancing.
Freddie Mac says the rate on the 30-year fixed loan fell to 3.98 percent from 4 percent the previous week. Seven weeks ago, it dropped to a record low of 3.94 percent, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage edged down to 3.3 percent from 3.31 percent. Seven weeks ago, it too hit a record low of 3.26 percent.
Rates have been below 5 percent for all but two weeks this year. Yet this year could be the worst for home sales in 14 years.

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U.S. Housing Market Still On Life Support

With each passing year, the former Oracle of the Fed, Alan Greenspan, is reminded that there really was a housing bubble and lowering interest rates to record lows just matters worse.  Nearly four years after the housing market peak in 2007, record low mortgage rates are no match for falling incomes and 9% unemployment.
The Case-Shiller Home Price Index, released on Tuesday, showed that nation wide home prices did not register a significant change in the third quarter of 2011, with the U.S. National Home Price Index up by only 0.1% from its second quarter level. Home prices are down 3.9% across the board and are now back to their first quarter of 2003 levels.
From August to September, housing prices have fallen the most in Atlanta, with a 5.9% decline, followed by Tampa Bay and San Francisco, both with a 1.5% drop in housing prices.
Boston, New York, Washington and Los Angeles remain the most expensive cities in the lower 48 states.
"The plunging collapse of prices seen in 2007-2009 seems to be behind us," says David M. Blitzer, Chairman of the Index Committee at S&P Indices. "Any chance for a sustained recovery will probably need a stronger economy."

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U.S. Housing Market Still On Life Support; Prices At 2003 Levels

With each passing year, the former Oracle of the Fed, Alan Greenspan, is reminded that there really was a housing bubble and lowering interest rates to record lows just made matters worse.  Nearly four years after the housing market peak in 2007, record low mortgage rates are no match for falling incomes and 9% unemployment.
The Case-Shiller Home Price Index, released on Tuesday, showed that nation wide home prices did not register a significant change in the third quarter of 2011, with the U.S. National Home Price Index up by only 0.1% from its second quarter level. Home prices are down 3.9% across the board and are now back to their first quarter of 2003 levels. The market consensus was for a 3% decline year over year.
From August to September, housing prices have fallen the most in Atlanta, with a 5.9% decline, followed by Tampa Bay and San Francisco, both with a 1.5% drop in housing prices.
Boston, New York, Washington and Los Angeles remain the most expensive cities in the lower 48 states.
"The plunging collapse of prices seen in 2007-2009 seems to be behind us," says David M. Blitzer, Chairman of the Index Committee at S&P Indices. "Any chance for a sustained recovery will probably need a stronger economy."

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Home market being held back by wary first-timers

WASHINGTON (AP) — This should be a great time to buy a first home. Prices have sunk to 2002 levels. Sellers are waiting anxiously as homes languish on the market. Mortgage rates are their lowest ever.
Yet the most likely first-time homeowners, especially young professionals and couples starting families, won't buy these days. Or they can't. Or they already did, during the housing boom. And their absence helps explain why the housing industry is still depressed.
The obstacles range from higher down payments to heavy debt from credit cards and student loans. But even many of those who could afford to buy no longer see it as a wise investment. Prices have sunk 15 percent in three years.
"I've looked for a home, but the places we can afford with the money we have are not that great," says Seth Herter, 23, a store manager in suburban St. Louis. "It also doesn't seem smart anymore to buy with prices falling. Buying a home just doesn't make sense to us."
The proportion of U.S. households that own homes is at 65.1 percent, its lowest point since 1996, the Census Bureau says. That marks a shift after nearly two decades in which homeownership grew before peaking at 70 percent during the housing boom.
The housing bubble lured so many young buyers that it reduced the pool of potential first-timers to below-normal levels. That's contributed to the decline in new buyers in recent years.
In 2005, at the height of the boom, about 2.8 million first-timers bought homes, according to the National Association of Realtors. By contrast, for each of the four years preceding the boom, the number of first-timers averaged fewer than 2 million.
Still, the bigger factors are the struggling economy, shaky job security, tougher credit rules and lack of cash to put down, said Dan McCue, research manager at Harvard University's Joint Center for Housing Studies. The unemployment rate among typical first-timers, those ages 25 to 34, is 9.8 percent, compared with 9 percent for all adults.
"The obstacles facing first-time buyers are big, and it's changing the way they look at home ownership," McCue says. "It's no longer the American Dream for the younger generation."
First-timers usually account for up to half of all sales. Over the past year, they've accounted for only about a third.
A big reason is tougher lending standards.
Lenders are demanding more money up front. In 2002, the median down payment for a single-family home in nine major U.S. cities was 4 percent, according to real estate website Zillow.com. Today, it's 22 percent.
And one-third of households have credit scores too low to qualify for a mortgage. The median required credit score from FICO Inc., the industry leader in credit ratings, has risen from 720 in 2007, when the market went bust, to 760 today.
Homes in many places are the most affordable in a generation. In the past year, the national median sale price has sunk 3.5 percent. Half the homes listed in the Tampa Bay area are priced below $100,000.
The average mortgage rate for a 30-year fixed loan is 4 percent, barely above an all-time low. Five years ago, it was near 6.5 percent. In 2000, it exceeded 8 percent.
When the economy eventually strengthens, the housing market will, too. More people will be hired. Confidence will rise. Down payments won't be so hard to produce.
The question is whether first-time buyers will then start flowing into the housing market. That will depend mainly on whether they think prices will rise, said Mark Vitner, senior U.S. economist at Wells Fargo.
"It's a guessing game as to when things will turn around," Vitner said. "But until they do, you won't see young people buying homes."

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New Women’s Heart Link Networking Location Opens in Lockport, NY

The Heart Link Women’s Network®, with over 200 locations in the U.S., Canada and Australia, is pleased to announce its expansion into Lockport, NY.

Lockport, NY (PRWEB) December 21, 2012
The Heart Link Network® welcomes a new women’s networking Leader in Lockport, NY. Linda is a Director for Melaleuca and also a Distributor for SendOutCards and she is excited to serve her community leading networking events for professional women.
“I'm excited to lead a local Heart Link Network chapter. Our chapter is full of women that love referring business to each other. Women that attend our events benefit by increasing their sphere of influence while having a great time building lifelong friendships.” - Linda Feagin
Women who attend The Heart Link Network® meetings enjoy showcasing their business in the spotlight for 3 minutes while still enjoying time set aside for socializing and connecting with one another at the gathering. The Heart Link Network® is the only networking organization that has a special program to honor different women in the community such as teachers, new moms, nurses, firefighters, police, military, etc. each month. Each month, these women who are normally excluded from networking, are celebrated and honored at The Heart Link Network meeting.
"I believe that when relationships are created, business naturally happens. It's organic and long-lasting," says Laura Wells, president of The Heart Link Network. "Women appreciate and value fairness and authenticity. We are tired of the fluff and superficial relationships that we get from traditional networking meetings. The Heart Link Network is the perfect combination of a fun 'girls-only social event' and ‘networking for businesses. Real friendships and real business takes place at a Heart Link Network meeting." - Laura Wells, President of The Heart Link Network
The Heart Link Network® has more networking locations than any other women’s networking organization. The meeting fee is a nominal $25.00 and includes a light meal as well as a company-exclusive spot at the meeting. There is no up-front membership fee required. Women in Lockport, NY, may go to http://www.14094.theheartlinknetwork.com to register for a gathering. To see a full list of women's networking locations, discover the generous perks of sponsoring a local women's networking chapter, or to submit an application to lead a chapter of The Heart Link Network®, visit http://www.womens-networking.com
THE HEART LINK NETWORK® was created by Dawn L Billings, an executive coach and highly sought-after speaker. As a psychology and personality expert, and author of over 20 books, Dawn was selected as one of the nation’s 80 emerging women leaders by Oprah magazine and The White House Project.

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Intereum Partners With Life Time – The Healthy Way of Life Company – for the Commitment Day Challenge

Intereum has partnered with Life Time Fitness and the Commitment Day challenge for 2013.

Plymouth, Minnesota (PRWEB) December 21, 2012
Intereum has partnered with Life Time Fitness and the Commitment Day challenge for 2013. This first ever Commitment Day fitness revolution is urging all Americans to commit to a healthy and active way of life. On January 1, 2013, hundreds of thousands of Americans will kick off the New Year by participating in a simultaneous 5K – run/walk event spanning 35 cities.
Having worked closely with Life Time on many facility projects here in Minnesota, across the country and Canada, Intereum wanted to partner in this rally to show the relationship to not only living healthy, but working healthy. “Having had the opportunity to work with Life Time Fitness as a business partner and as a long time club member, I had no hesitation aligning the goals of Commitment Day with the goals of Intereum, my employees, and subsequently Intereum’s client base,” comments Bret Abbot, Owner of Intereum. “We help organizations and people create healthy and productive work environments through the application of our knowledge, resources, and high quality designed products. I believe we help create healthy work environments!” With a full line of ergonomic chairs and work tools, we understand the relationship of health-positive products and the impact they can have on workers. The two go hand in hand and what better way to start the New Year than committing to a healthy start.
“Commitment Day is about millions of Americans committing to healthy, active lifestyles for themselves and their families,” said Bahram Akradi, Chairman, President, CEO and Founder of Life Time. “It will be a day of epic proportions as hundreds of thousands of individuals join together in support of healthy people, a healthy plant and a healthy way of life. At a time when our nation is at a breaking point with ever-rising obesity rates, a generation of children facing serious health consequences, escalating health care costs and controllable diseases spiraling out of control, the time for us to take action is now.”
With the launch of Commitment Day, Life Time will present Americans with a no excuses healthy lifestyle revolution. Intereum stands alongside that message and encourages everyone to commit to a healthy way of life, and extend a helping hand to others to do the same.

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Stemedica and Scripps to Jointly Investigate Therapeutic Effect of Ischemia Tolerant Mesenchymal Stem Cells (itMSC) and Stem Cell Factors in Lung Injury and Sepsis

Stemedica Cell Technologies, Inc., a leading manufacturer of adult ischemia tolerant allogeneic stem cells and stem cell factors announced that the Company has signed an agreement with The Scripps Research Institute to investigate the role of Stemedica’s ischemia tolerant human mesenchymal stem cells and stem cell factors as a therapy for severe lung injury and sepsis.

San Diego, CA (PRWEB) December 21, 2012
Stemedica Cell Technologies, Inc., a leading manufacturer of adult ischemia tolerant allogeneic stem cells and stem cell factors announced that the Company has signed an agreement with The Scripps Research Institute to investigate the role of Stemedica’s ischemia tolerant human mesenchymal stem cells and stem cell factors as a therapy for severe lung injury and sepsis.
Acute Lung Injury (ALI) and Acute Respiratory Distress Syndrome (ARDS) are the most common causes of respiratory failure among critically ill patients. The mortality for this syndrome remains high at 30-40% and accounts for approximately 75,000 deaths per year. Severe bacterial pneumonia is the most common cause of ALI/ARDS and is frequently associated with septic shock. The only intervention for ALI/ARDS that has resulted in a mortality benefit is low tidal volume ventilation. Despite several attempts, there have been no pharmacological agents that have reduced the morbidity or mortality from ALI/ARDS. Furthermore, treatment of bacterial pneumonia is increasingly hampered by the rapid spread of multi-drug resistant bacteria and the lack of new antimicrobial agents to treat them. Therefore, given the large public health impact of severe bacterial pneumonia and ALI/ARDS, novel therapies are needed to address this common and growing clinical problem.
Bone marrow derived mesenchymal stem cells (MSCs) are an emerging form of cell-based therapy that have been increasingly studied in experimental models of lung injury and sepsis. Experimental studies have shown that murine MSCs can improve survival, reduce lung injury, and enhance bacterial clearance in clinically relevant models of bacterial pneumonia in mice. These beneficial effects have also been achieved using human MSCs in an ex-vivo human lung model of ALI.
Naveen Gupta, MD, Assistant Professor of Molecular and Experimental Medicine and Principal Investigator at The Scripps Research Institute, has authored and co-authored a number of publications in peer-reviewed journals in this field. He commented that, “This project will investigate the therapeutic effects of Stemedica’s ischemia tolerant MSCs in experimental lung injury and sepsis. Specifically, it will determine the optimal route, dose and timing of cell delivery in an E. coli pneumonia model. In addition, studies will be done using purified soluble factors secreted by the stem cells to determine whether a therapeutic effect comparable to using live MSCs can be achieved.” Dr. Gupta continued: “Given Stemedica's expertise in the field of developing MSC-based clinical therapies and the scientific and clinical expertise in Pulmonary and Critical Care Medicine present at Scripps, I believe that this will be a mutually beneficial and productive collaboration that may have important implications in how cell based therapy is applied to critically ill patients.”
Nikolai Tankovich, M.D., Ph.D., President and Chief Medical Officer of Stemedica noted, “One of the great advantages of using Stemedica’s cGMP produced, FDB licensed (Food & Drug Branch of the California Department of Public Health) stem cells is that they have already been approved by the Food and Drug Administration for use in a variety of clinical trials. The same cGMP manufactured cell can be used in all phases of the approval process from preclinical through clinical trials and ultimately to commercialization. This will contribute significantly to accelerating the process from benchtop to bedside.”
Maynard Howe, Ph.D., Vice Chairman and Chief Executive Officer of Stemedica commented, “We are pleased to be working with a renowned organization like Scripps to advance treatment for this critical condition. The goals of our organizations are aligned--we strive to save lives--and one of the most meaningful ways we can do this is to stem mortality from ARDS.”
About The Scripps Research Institute

The Scripps Research Institute is one of the world's largest independent, not-for-profit organizations focusing on research in the biomedical sciences. Over the past decades, TSRI has developed a lengthy track record of major contributions to science and health, including laying the foundation for new treatments for cancer, rheumatoid arthritis, hemophilia, and other diseases. The institute employs about 3,000 people on its campuses in La Jolla, CA, and Jupiter, FL, where its renowned scientists (including three Nobel laureates) work toward their next discoveries. The institute's graduate program, which awards Ph.D. degrees in biology and chemistry, ranks among the top ten of its kind in the nation. For more information, see http://www.scripps.edu.
About Stemedica Cell Technologies, Inc.

Stemedica Cell Technologies, Inc. is a specialty bio-pharmaceutical company committed to the manufacturing and development of best-in-class allogeneic adult stem cells and stem cell factors for use by approved research institutions and hospitals for pre-clinical and clinical (human) trials. The company is a government licensed manufacturer of clinical grade stem cells and is approved by the FDA for its clinical trials for ischemic stroke, acute myocardial infarction, and cutaneous photoaging. Stemedica is currently developing regulatory pathways for a number of medical indications using adult allogeneic stem cells. The Company is headquartered in San Diego, California.

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ProvidaStaff,LLC Reports on Increased Travel Therapy & PRN Career Opportunities During The Holidays

ProvidaStaff LLC, finds more job openings for Speech Therapists, Occupational Therapists, Physical Therapists, and Nurses for travel therapy and PRN positions during the holiday season.

Huntersville, NC (PRWEB) December 21, 2012
ProvidaStaff, LLC has seen an increased number of travel therapy and PRN positions needed with its healthcare clients to provide services during the holiday season. This has been a result of many of the full-time and part-time providers requesting vacation time during the holiday season. As a result, “the number of open positions has increased significantly in the month December compared with other months”, said ProvidaStaff’s CEO, Matthew Lewis.
According to the Bureau of Labor Statistics, Physical Therapy and Occupational Therapy jobs are increasing because of the aging population of baby boomers that are beginning to need therapy services to remain active. The therapists performing these services are compensated very well, with the top ten percent of workers earning six-figures to travel and work in rehabilitation centers, skilled nursing facilities, outpatient physician practices and hospitals.
ProvidaStaff has seen more and more providers enjoying PRN nursing positions as well. The American Association of Critical-Care Nurses (AACN) announced that the number of requests for temporary or traveling critical care nurses have also increased in every area of the country.
Travel positions offer therapists and nurses the ability to move around the country under a contract assignment and gain experience at different healthcare facilities. The average travel position lasts thirteen weeks, giving them the experience to live and work in all parts of the country.
For those considering a therapy or nursing travel position, please contact ProvidaStaff at 1-866-75-STAFF to speak with an experienced recruiter to learn more about these career options.
About ProvidaStaff, LLC

ProvidaStaff, LLC is a leader in providing comprehensive healthcare services in education and medical settings nationwide including schools, rehabs, hospitals, outpatient clinics, nursing homes, and early intervention programs. ProvidaStaff offers numerous career opportunities through national networks throughout the United States including travel and contract assignments. Founded in 2007, ProvidaStaff, LLC started with a vision to increase the quality of life to individuals in need of healthcare services and continues that effort today.

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Fat Burning Furnace: Review Examining Rob And Karen Poulos' Fat Loss Training Program Released By DietsAndFitnessGuides.com

DietsAndFitnessGuides.com releases a review of Rob and Karen Poulos' Fat Burning Furnace program, a fat loss system based on healthy nutrition and full body workouts to ignite the body's natural fat burning power.

Charlotte, NC (PRWEB) December 21, 2012
"Rob And Karen Poulos' Fat Burning Furnace is one of the most popular fat loss guides available, so we were eager to review the program for our website visitors," reports DietsAndFitnessGuides.com's Vince Delmonico. "With so many fad diets and gimmicky weight loss plans popping up online I was curious to see whether this plan was indeed the real deal."
The Fat Burning Furnace System was created by Rob And Karen Poulos, a formerly overweight Michigan couple who were able to finally reach their fitness goals in just a few months after stumbling on to a little known technique for quickly burning belly flab. The program which is available digitally online shows users of all ages and fitness levels effective ways lose pounds of stubborn fat while simultaneously cutting the amount of time they spend working out.
Delmonico shares this insight on the widespread popularity of the Fat Burning Furnace program:
"One thing that really bugs me about most fitness programs these days are the crazy claims, and outrageous promises that they make about the results you can achieve using there systems", says Delmonico. "I think people gravitate toward the Fat Burning Furnace because they trust Rob. The guy has integrity, and they can tell that he genuinely wants to help people lose weight, tighten up their tummies and change their lives."
Another appealing element of the Fat Burning Furnace program is the fact that it allows users to eat generous quantities of tasty fat burning foods. The system uses these "natural fat burners" to manipulate the bodies fat loss hormones, turbo-charging one's metabolism.
"After years in this business I can tell you that fad diets, starvation diets, and grueling two hour workouts are not necessary for fat loss and are in fact typically detrimental to ones fitness success," says Delmonico. "Luckily, with the Fat Burning Furnace folks can now use these metabolism boosting techniques to make the fat loss process practically pain free!

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