6at4 Business Report: Cofee supplies running low
Mortgage rates are heading down again, but coffee prices are going up!
30 year fixed 3.98%
Earlier this week, we saw an unexpected increase in home sales as home prices and mortgage rates fell. Freddie Mac said today that mortgage rates on a 30-year fixed loan dropped to 3.98% - the second lowest on record.
Nokia cutting 17,000 jobs
Wireless equipment maker Nokia Siemens will slash 17,000 jobs, almost one quarter of its work force, by the end of 2013. The restructuring will save them $1.3 billion. Nokia Siemens has struggled to make a profit because of competition from market leader Ericcson.
Coffee prices rising
It was nice while it lasted, but coffee lovers may see another price hike. The news comes as bad weather is damaging coffee bean crops from Columbia to Indonesia. As a result, inventories are being reduced to the lowest since 2000. Last week Starbucks raised prices in select markets.
6at4, stock market, economy, food, cell phones, home sales, business/finance
- Parking dispute turns violent at Cherry Hill Mall
- Sunny and chilly
- Get the 6abc StormTracker app
- WATCH: Action News Online
- Mutilated animal found in North Philadelphia 40 min ago
- Residents return following Bucks Co. hazmat
- Suspect SUV in deadly hit and run caught on camera
- Man, 22, dies after shooting in Chester
- Man seriously injured in crash on Roosevelt Blvd.
- Gunfire erupts on Delaware Ave. near SugarHouse Casino
- Malaysia jet may have turned back
- SEPTA trolley collides with taxi in West Philadelphia
- Man gets pinned under van in Logan crash
- Photos: $3.25M summer home in Ocean City, NJ