Existing home sales rise in 2020 to highest in 14 years

WASHINGTON (AP) — Sales of existing homes rose 0.7% in December, pushing the entirety of 2020 to a pace not seen in 14 years and providing one of the few bright spots for a U.S. economy mired in a global pandemic. Rising sales in the final month of the year lifted activity to a seasonally adjusted annual...

Tire falls from small plane into Chicago neighborhood

CHICAGO (AP) — A tire fell from a small plane near homes in a Chicago neighborhood before the plane landed safely at O’Hare International Airport. No injuries were reported on the ground or among those on the plane, which sent up sparks on a runway as it landed Thursday evening without its left side...

Sales of existing homes up 0.7% in December, pushing 2020 sales pace to a level not seen in 14 years

US long-term mortgage rates slip; 30-year loan at 2.77%

WASHINGTON (AP) — U.S. long-term mortgage rates slipped this week while remaining at record-low levels. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan eased to 2.77% from 2.79% last week. By contrast, the rate stood at 3.60% a year ago. The...

US home construction jumps 5.8% in December to 1.67 million

WASHINGTON (AP) — U.S. home construction jumped 5.8% in December to 1.67 million units, a 14-year high that topped the strongest annual showing from the country's builders in 15 years. The better-than-expected December gain followed an increase of 9.8% in November when housing starts climbed to a...

Ohio police officer killed in armed standoff with man

TOLEDO, Ohio (AP) — An Ohio police officer was shot and killed after an hourslong armed standoff that resulted in gunfire Monday, police said. Toledo Police Officer Brandon Stalker, 24, died after the shooting that sent both him and the suspect to the hospital, Police Chief George Kral said at a Monday...

This Week: Netflix earns, jobless benefits, US home sales

A look at some of the key business events and economic indicators upcoming this week: BINGE THIS Wall Street expects that Netflix closed out 2020 with another solid quarter. The video streaming service has been riding a wave of popularity as people spend more time at home due to the pandemic. The company gained...

Restaurants, bars scramble for propane amid pandemic winter

FORT COLLINS, Colo. (AP) — With coronavirus restrictions forcing bars and restaurants to seat customers outside in the dead of winter, many are scrambling to nab erratic supplies of propane that fuel space heaters they’re relying on more than ever to keep people comfortable in the cold. It's one of...

Fleeing New Yorkers squeeze surrounding housing markets

Angel Garcia, a single father approved for a mortgage loan of $300,000, had high hopes in early 2020 of finding a house he could afford in his hometown of Stamford, Connecticut. Then the COVID-19 pandemic hit. Within months, New Yorkers began fleeing the city and the surrounding area, snapping up houses. Home...

U.S. retail sales fell in December for 3rd straight month

NEW YORK (AP) — Americans cut back on spending in December for the third-straight month as a surge in virus cases kept people away from stores during the critical holiday shopping season. The U.S. Commerce Department said Friday that retail sales fell a seasonally adjusted 0.7% in December from the month...