U.S. new-home sales unexpectedly fell in January, setting a record low and erasing all gains made in the market during the past year as the economy recovers from recession.
Demand for single-family homes fell 11.2% from the previous month to a seasonally adjusted annual rate of 309,000, the Commerce Department said Wednesday.
Economists surveyed by Dow Jones Newswires had estimated sales would rise 3.8%, to 355,000.
NICK MCDERMOTT
Daily Mail
February 16, 2010
Credit card interest rates have climbed to a 12-year high, leaving millions facing crippling repayments on their debts.
Despite historically low Bank of England base rates, the average interest charged on a credit card has soared to 18.8 per cent – the highest level since 1998.
Some consumers now paying more than 40 per cent on the cash they have borrowed.
This means that credit card borrowers with a debt of £5,000 on their card – who make only the minimum repayment each month – will now repay an additional £2,289 over the life of the debt compared with what they would have paid four years ago.
