Private residence home starts increased 6.8% averaging 914,000 last month. Housing starts overall have been growing year-over-year, jumping 28.6% from last May according to the U.S. Department of Housing and Urban Development and the U.S Census Bureau. Housing permits and completions have also grown from last year. Analysts at Econoday said, “housing appears to still be on a moderate uptrend-but the numbers have been volatile and monthly averaging seems like a good idea.” Additionally, multifamily and single-family components are on the rise as well. More here
An extremely hot pepper called the Carolina Reaper may bring hope to individuals suffering from cancer. The pepper took more than ten years to be developed by Smokin’ Ed Currie and is said to be 300 times hotter than the jalapeno pepper. The pepper’s active ingredient is called capsaicin, which may kill cancer cells. Currie donated half of his California Reaper harvest to cancer research labs last year. More here
According to the Bankrate.com national survey of large lenders, 30-year fixed-rate mortgages increased to 4.14%, growing 0.13% from last week while the benchmark 30-year fixed-rate jumbo mortgage jumped 0.05%. This week’s benchmark 15-year fixed-rate mortgages jumped to 3.32%, a 0.04% increase from last week and the benchmark 5/1 adjustable-rate mortgage averaged 5.93%, the highest level seen since June of 2012. Additionally, this week’s mortgages averaged 0.32 discount and origination points. More here
According to new studies, the regular use of sunscreen will not only keep you from getting sunburn and lower your risk of skin cancer, it will also protect against photoaging such as spotting, wrinkles and loss of skin elasticity caused by sun exposure. The study consisted of 900 participants, some of which were instructed to apply sunscreen generously for four years while the others were given no specific instructions. The study confirmed that sunscreen does protect skin from aging. The lead author of the study, Dr. Adele Green said, “skin surface patterns reflect the severity of the sun’s damage to the deeper skin, especially to the elastic fibers and collagen.” More here
Fannie Mae stated in a new report that the United States economic growth is expected to continue to strengthen into next year increasing energy production and rising many household incomes. Doug Duncan, Fannie Mae Chief Economist said, “At the outset of the year, we forecasted that 2013 would witness sustainable but below-par growth as the economy begins its transition to more normal levels. Halfway through the year, our view is little changed. ” Additionally, the economy is expected to grow by 2.1% in 2013. More here
According to a new study, smokers have a lower chance of surviving and being cancer-free years after having colon cancer surgery than non smokers. Researchers have found that 74% of nonsmokers remain cancer-free 3 years after colon cancer surgery while only 70% of smokers remained cancer-free. Experts warn that smoking adds many health risks; the study’s lead author from the Fred Hutchinson Cancer Research Center, Amanda Phipps said, “I would say as we get further and further away from a colon cancer diagnosis, the impact from smoking is going to get greater.” More here
As home values grow and low interest rates begin to increase, the housing market is slowly changing from a buyer’s market to a seller’s market, which suggests great improvement overall. Construction companies are working hard to keep up with the housing demand and, in turn, creating a positive chain of events for the economy. Additionally, homes are not staying on the market very long. According to experts, the number of days houses stay on the market is about 50% less than last year. More here
GE Healthcare stated that, over the next 5 years, the company plans to spend $2 billion in order to provide hospitals with more efficient tools. The investment will go towards improving patient experience and quality of treatment. New and updated software with patient tracking systems are said to be part of the improvements while programs that offer data analytics on electronic platforms helping to integrate information will also be added to the plan. More here
The refinance index increased 5% last week, still 11% lower than 2 weeks prior, and 36% lower than the beginning of May 2013. The average contract interest rate for 30-year fixed-rate mortgage loans with a conforming loan balance jumped 4.15%, and the 30-year fixed-rate Mortgage increased 4.25%. According to the Industry Trade Group Report the seasonally adjusted purchase index rose 5% from the beginning of June. Additionally, the refinance share of mortgage activity grew 1%, averaging 69%. More here
Niacin prescriptions have nearly tripled over the last few years reaching approximately 700,000 prescriptions monthly in 2009. Niacin is a vitamin once thought to lower cardiovascular disease risk. Recent clinical trials have found that there is no concrete evidence that Niacin helps prevent death from heart disease. “Our study shows that prescription niacin sales are substantial and growing, even in the absence of contemporary supportive trial evidence,” stated the researchers who wrote an article about the vitamin and its play in cardiovascular disease in the Journal of American Medical Association. More here
