For the first time in 60 years, the average rate on a 30-year fixed mortgage fell below 3.5 percent.
Banks are also stepping up foreclosure proceedings and that could deliver a swell of new foreclosed properties to the market. That move would potentially weighing down home values.
Buckyballs, the highly powerful magnetic toys, are no longer allowed to be sold. The Consumer Product Safety Commission ordered a halt to the sale of Buckyballs Thursday. This is the panel's first stop-sale order in 11 years. The danger is if they are swallowed. Several kids nationwide have swallowed the magnets, which can pinch or trap intestines.
Ford announced Thursday that it is recalling the Ford Escape to fix a sticking gas pedal, which could cause crashes. The worldwide recall affects nearly 485,000 vehicles with model years 2001 and 2004. Ford says the issue stems from cruise control cables snagging on a plastic cover in the engine, causing the gas pedal to stick.