French forces take action against Mali Islamists

BAMAKO, Mali (AP) — France launched airstrikes Friday to help the government of Mali defeat al-Qaida-linked militants who captured more ground this week, dramatically raising the stakes in the battle for this vast desert nation.
French President Francois Hollande said the "terrorist groups, drug traffickers and extremists" in northern Mali "show a brutality that threatens us all." He vowed that the operation would last "as long as necessary."
France said it was taking the action in Mali at the request of President Dioncounda Traore, who declared a state of emergency because of the militants' advance.
The arrival of the French troops in their former colony came a day after the Islamists moved the closest yet toward territory still under government control and fought the Malian military for the first time in months, seizing the strategic city of Konna.
Sanda Abou Moahmed, a spokesman for the Ansar Dine group, condemned Mali's president for seeking military help from its former colonizer.
"While Dioncounda Traore asked for help from France, we ask for guidance from Allah and from other Muslims in our sub-region because this war has become a war against the crusaders," he said by telephone from Timbuktu.
For the past nine months, the Islamic militants have controlled a large swath of northern Mali, a lawless desert region where kidnapping has flourished.
"French armed forces supported Malian units this afternoon to fight against terrorist elements," Hollande said in Paris.
He did not give any details of the operation, other than to say that it was aimed in part at protecting the 6,000 French citizens in Mali, where seven of them already are being held captive.
French Foreign Minister Laurent Fabius, when asked whether France had launched airstrikes, said, "To the question of whether there was an air intervention, the response is yes." He refused to give any other details for security reasons.
France is operating helicopter gunships in Mali, two diplomats told The Associated Press. They spoke on condition of anonymity because they were not authorized to discuss the operation publicly. French special forces, who have been operating in the region recently, are also believed to be taking part in the military operation, one diplomat said.
U.N. Secretary-General Ban Ki-moon told the AP that Senegal and Nigeria also responded to an appeal from Mali's president for help to counter the militants.
Residents in central Mali said they had seen Western military personnel arriving in the area, with planes landing at a nearby airport throughout the night.
Col. Abdrahmane Baby, a military operations adviser for the foreign affairs ministry, confirmed in the Malian capital of Bamako that French forces had arrived in the country but gave no details.
"They are here to assist the Malian army," he told reporters.
Traore went on national television Friday night to declare the state of emergency, saying it would remain in effect for 10 days and could be renewed.
"The situation on the front is over all under control," he said.
Traore called on mining companies and nongovernment organizations to turn their trucks over to Malian military, raising questions about the army's ability.
State Department spokeswoman Victoria Nuland said the U.S. was "deeply concerned" by events in Mali, and that Washington was closely consulting with Paris. She said neither France nor Mali has asked for U.S. military assistance.
France has led a diplomatic push for international action in northern Mali but efforts to get an African-led force together, or to train the weak Malian army, have dragged.
The French quickly mobilized after the Islamists seized the city of Konna on Thursday, pushing closer to the army's major base in central Mali. Late Friday, Malian Lt. Col. Diarran Kone said the government had not been able to recapture the town.
The United Nations Security Council has condemned the capture of Konna and urged U.N. member states to assist Mali "in order to reduce the threat posed by terrorist organizations and associated groups."
Late last year, the 15 nations in West Africa, including Mali, agreed on a proposal for the military to take back the north, and sought backing from the U.N.
The Security Council authorized the intervention but imposed certain conditions. Those include the training of Mali's military, which has been accused of serious human rights abuses since a military coup last year sent the nation into disarray.
The fighting Wednesday and Thursday for Konna represents the first clashes between Malian government forces and the Islamists in nearly a year, since the militants seized the northern cities of Gao, Kidal and Timbuktu.
The Islamists seized the town of Douentza four months ago after brief standoff with a local militia, but pushed no farther until clashes broke out late Wednesday in Konna, a city of 50,000 people, where fearful residents cowered inside their homes. Konna is just 45 miles (70 kilometers) north of the government-held town of Mopti, a strategic port city along the Niger River.
A soldier, who spoke on condition of anonymity because he was not authorized to speak to journalists, acknowledged that the army had retreated from Konna. He said several soldiers were killed and wounded, though he did not have precise casualty figures.
Al-Qaida's affiliate in Africa has been a shadowy presence for years in the forests and deserts of Mali, a country hobbled by poverty and a relentless cycle of hunger. Most Malians adhere to a moderate form of Islam.
In recent months, however, the terrorist group and its allies have taken advantage of political instability, taking territory they are using to stock weapons and train forces.
Turbaned fighters control major towns in the north, carrying out amputations in public squares just as the Taliban did. And like in Afghanistan, they are flogging women for not covering up. Since taking control of Timbuktu, they have destroyed seven of the 16 mausoleums listed as world heritage sites.
French Foreign Minister Laurent Fabius said his government was taking action because "in recent days, the situation unfortunately deteriorated very seriously."
The delay by the international community in taking action allowed "the terrorist and criminal groups of northern Mali ... to move toward the south with the goal of ... installing a terrorist state."
The Islamists insist they want to impose Shariah only in northern Mali, though there long have been fears they could push farther south. Bamako, the capital, is 435 miles (700 kilometers) from Islamist-held territory.
Hollande said the French government will address parliament on Monday about the operation.
The intervention earned quick, widespread support from leading voices inside France across the political spectrum. Even far right leader Marine Le Pen — one of the many critics of the unpopular Hollande — called the Socialist leader's action "legitimate."
France has hundreds of troops across western Africa, with bases or sites in places such as Senegal, Ivory Coast, Chad and Gabon. However, Hollande has said that he wants to create a new relationship with former colonies in Africa.
The operation in Mali is the first military intervention under his leadership, and comes just weeks after he pulled out France's last combat troops out of Afghanistan, ending an increasingly unpopular 11-year presence there.
France was a leading force in the NATO operation against Libyan dictator Moammar Gadhafi's forces in 2011. Also that year, France played a driving role in an international military intervention to oust Ivory Coast's Laurent Gbagbo, who refused to leave power after disputed elections. Both of those operations were under Hollande's predecessor, Nicolas Sarkozy.
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Somalia: French forces attack militant base

MOGADISHU, Somalia (AP) — French commandoes on Saturday attacked a base of Islamist militants in Somalia in a hostage rescue attempt, a Somali intelligence official said. Residents of the town said they heard explosions and gunfire.
The attack occurred in the town of Bulomarer, and comes on the heels of French military intervention in Mali, another African country. The intelligence official, who insisted on anonymity because he was not allowed to discuss the case with the press, said the French commandos were trying to rescue a kidnapped military advisor who they were tipped off was being held there. A French security adviser was kidnapped by the militant Islamist group al-Shabab in Mogadishu, the capital, in 2009.
The intelligence official said the raid caused casualties but that he had no information on the hostage.
"We are aware of the deaths of several al-Shabab fighters during the operation," he said. "Helicopters dropped off soldiers to rescue the man. We don't have confirmations that the man has been rescued."
The office of Col. Thierry Burkhard, the French military's main spokesman for overseas operations, said it had no information about any Somalia action.
An al-Shabab official confirmed that fighting began after helicopters dropped off soldiers.
"Five helicopters attacked a house in the town. They dropped soldiers off the ground, so that they could reach their destination... but fighting has broken out," he said on condition of anonymity because he was not authorized to speak to the press.
The al-Shabab official said that some soldiers were killed, but the group held only one dead French soldier.
"We had Mujahideen fighters already deployed there who fought back the French soldiers. We killed some of their soldiers but only one dead soldier in a French military uniform is in our hands now," he said.
With France having acted Friday to help Mali against al-Qaida-linked militants who hold more than half of that country and are encroaching further on government-held territory, the raid in Somalia could have been aimed at preventing al-Shabab fighters from harming the French hostage in reprisal. The attack was swift and loud, local residents said.
"We heard a series of explosions followed by gunfire just seconds after a helicopter flew over the town," Mohamed Ali, a resident of Bulomarer, told The Associated Press by phone. "We don't know exactly what happened but the place was an al-Shabab base and checkpoint.
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Mali war escalates with French intervention

BAMAKO, Mali (AP) — With Islamist militants controlling more than half of the northwest African nation of Mali and threatening the rest of government-held territory, France launched airstrikes in a dramatic escalation of the conflict that some observers have called the next Afghanistan. French commandoes also reportedly attacked an Islamist base in Somalia to try to rescue a French hostage.
The raid early Saturday in Somalia could have been aimed at preventing al-Shabab fighters from harming the kidnapped French security official in reprisal for the French military intervention in Mali. A Somali intelligence official, who insisted on anonymity because he was not allowed to discuss the case with the news media, said the raid in Bulomarer killed "several" al-Shabab fighters but he had no information on the hostage.
An al-Shabab official confirmed the fighting and said the group held one dead French soldier. He spoke on condition of anonymity because he was not authorized to speak to the press.
However, the office of Col. Thierry Burkhard, the French military's main spokesman for overseas operations, said it had no information about any Somalia action.
French President Francois Hollande said the "terrorist groups, drug traffickers and extremists" in northern Mali "show a brutality that threatens us all." He vowed that the operation would last "as long as necessary."
France said it was taking the action in Mali at the request of President Dioncounda Traore, who declared a state of emergency because of the militants' advance.
The arrival of the French troops in their former colony came a day after the Islamists moved the closest yet toward territory still under government control and fought the Malian military for the first time in months, seizing the strategic city of Konna.
Sanda Abou Moahmed, a spokesman for the Ansar Dine group, condemned Mali's president for seeking military help from its former colonizer.
"While Dioncounda Traore asked for help from France, we ask for guidance from Allah and from other Muslims in our sub-region because this war has become a war against the crusaders," he said by telephone from Timbuktu.
For the past nine months, the Islamic militants have controlled a large swath of northern Mali, a lawless desert region where kidnapping has flourished.
"French armed forces supported Malian units this afternoon to fight against terrorist elements," Hollande said in Paris.
He did not give any details of the operation, other than to say that it was aimed in part at protecting the 6,000 French citizens in Mali, where seven of them already are being held captive.
Saturday's raid in Somalia was swift and loud, local residents said. The Somali intelligence official said the French commandos were trying to rescue a kidnapped military adviser who they were tipped off was being held there. A French security adviser was kidnapped by the militant Islamist group al-Shabab in Mogadishu, the capital, in 2009.
"We heard a series of explosions followed by gunfire just seconds after a helicopter flew over the town," Mohamed Ali, a resident of Bulomarer, told The Associated Press by phone. "We don't know exactly what happened but the place was an al-Shabab base and checkpoint."
French Foreign Minister Laurent Fabius confirmed that in Mali, France had carried out airstrikes. He refused to give details for security reasons.
France is operating helicopter gunships in Mali, two diplomats told The Associated Press. They spoke on condition of anonymity because they were not authorized to discuss the operation publicly. French special forces, who have been operating in the region recently, are also believed to be taking part in the military operation, one diplomat said.
U.N. Secretary-General Ban Ki-moon told the AP that Senegal and Nigeria also responded to an appeal from Mali's president for help to counter the militants.
Residents in central Mali said they had seen Western military personnel arriving in the area, with planes landing at a nearby airport throughout the night.
Col. Abdrahmane Baby, a military operations adviser for the foreign affairs ministry, confirmed in the Malian capital of Bamako that French forces had arrived in the country but gave no details.
"They are here to assist the Malian army," he told reporters.
Traore went on national television Friday night to declare the state of emergency, saying it would remain in effect for 10 days and could be renewed.
"The situation on the front is over all under control," he said.
Traore called on mining companies and nongovernment organizations to turn their trucks over to Malian military, raising questions about the army's ability.
State Department spokeswoman Victoria Nuland said the U.S. was "deeply concerned" by events in Mali, and that Washington was closely consulting with Paris. She said neither France nor Mali has asked for U.S. military assistance.
France has led a diplomatic push for international action in northern Mali but efforts to get an African-led force together, or to train the weak Malian army, have dragged.
The French quickly mobilized after the Islamists seized the city of Konna on Thursday, pushing closer to the army's major base in central Mali. Late Friday, Malian Lt. Col. Diarran Kone said the government had not been able to recapture the town.
The United Nations Security Council has condemned the capture of Konna and urged U.N. member states to assist Mali "in order to reduce the threat posed by terrorist organizations and associated groups."
Late last year, the 15 nations in West Africa, including Mali, agreed on a proposal for the military to take back the north, and sought backing from the U.N.
The Security Council authorized the intervention but imposed certain conditions. Those include the training of Mali's military, which has been accused of serious human rights abuses since a military coup last year sent the nation into disarray.
The fighting Wednesday and Thursday for Konna represents the first clashes between Malian government forces and the Islamists in nearly a year, since the militants seized the northern cities of Gao, Kidal and Timbuktu.
The Islamists seized the town of Douentza four months ago after brief standoff with a local militia, but pushed no farther until clashes broke out late Wednesday in Konna, a city of 50,000 people, where fearful residents cowered inside their homes. Konna is just 45 miles (70 kilometers) north of the government-held town of Mopti, a strategic port city along the Niger River.
A soldier, who spoke on condition of anonymity because he was not authorized to speak to journalists, acknowledged that the army had retreated from Konna. He said several soldiers were killed and wounded, though he did not have precise casualty figures.
Al-Qaida's affiliate in Africa has been a shadowy presence for years in the forests and deserts of Mali, a country hobbled by poverty and a relentless cycle of hunger. Most Malians adhere to a moderate form of Islam.
In recent months, however, the terrorist group and its allies have taken advantage of political instability, taking territory they are using to stock weapons and train forces.
Turbaned fighters control major towns in the north, carrying out amputations in public squares just as the Taliban did. And like in Afghanistan, they are flogging women for not covering up. Since taking control of Timbuktu, they have destroyed seven of the 16 mausoleums listed as world heritage sites.
French Foreign Minister Laurent Fabius said his government was taking action because "in recent days, the situation unfortunately deteriorated very seriously."
The delay by the international community in taking action allowed "the terrorist and criminal groups of northern Mali ... to move toward the south with the goal of ... installing a terrorist state."
The Islamists insist they want to impose Shariah only in northern Mali, though there long have been fears they could push farther south. Bamako, the capital, is 435 miles (700 kilometers) from Islamist-held territory.
Hollande said the French government will address parliament on Monday about the operation.
The intervention earned quick, widespread support from leading voices inside France across the political spectrum. Even far right leader Marine Le Pen — one of the many critics of the unpopular Hollande — called the Socialist leader's action "legitimate."
France has hundreds of troops across western Africa, with bases or sites in places such as Senegal, Ivory Coast, Chad and Gabon. However, Hollande has said that he wants to create a new relationship with former colonies in Africa.
The operation in Mali is the first military intervention under his leadership, and comes just weeks after he pulled out France's last combat troops out of Afghanistan, ending an increasingly unpopular 11-year presence there.
France was a leading force in the NATO operation against Libyan dictator Moammar Gadhafi's forces in 2011. Also that year, France played a driving role in an international military intervention to oust Ivory Coast's Laurent Gbagbo, who refused to leave power after disputed elections. Both of those operations were under Hollande's predecessor, Nicolas Sarkozy.
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Nats bolster pitching staff with deal for Haren

(Reuters) - The Washington Nationals bolstered their already strong pitching rotation by agreeing to a one-year, $13 million contract with right-hander Dan Haren, Major League Baseball's (MLB) website reported on Tuesday.
Haren, pending a physical, will join a rotation that boasts Stephen Strasburg, Jordan Zimmermann and Gio Gonzalez, effectively replacing Edwin Jackson from a staff that helped the Nats to an MLB-best 98-64 record last season.
Three-time All-Star Haren played the last two-plus seasons with the Los Angeles Angels. Haren, 32, missed time because of back and hip injuries but still made 30 starts and won 12 games for Los Angeles last season.
Haren, who has a career 119-97 record, began his career with the St. Louis Cardinals in 2003 before playing three seasons with the Oakland Athletics and two and a half seasons with the Arizona Diamondbacks.
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Giants agree deal to keep playoff hero Scutaro

(Reuters) - National League Championship Series MVP Marco Scutaro has agreed a $20 million three-year deal to stay with the San Francisco Giants, the World Series winners said on Tuesday.
The 37-year-old second baseman was acquired by San Francisco in a mid-season trade with Colorado and he paid great dividends down the stretch as the Giants claimed their second World Series in three years.
Scutaro batted .362 with 44 RBIs in his 61 regular season games with the Giants, then he raised his game when it mattered most during the post-season.
Scutaro is the third free agent retained by San Francisco as they keep their championship core intact.
The team also agreed to contracts with pitcher Jeremy Affeldt and outfielder Angel Pagan.
(Writing by Jahmal Corner in Los Angeles.
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Reds land Korean Choo in trade with Indians, D-Backs

(Reuters) - The Cincinnati Reds acquired South Korean outfielder Choo Shin-soo from the Cleveland Indians on Tuesday in a three-team trade that involved nine players.
The 30-year-old Choo, entering the final year of his contract, declined to sign an extension with the Indians and will now give the Reds a potential lead-off hitter who batted .283 with 16 home runs last season.
"He fills the one big void that we had and that was a lead-off hitter and someone with the ability to get on base," Reds General Manager Walt Jocketty told MLB.com.
The Reds also picked up infielder Jason Donald and $3.5 million from Cleveland.
In exchange, the Indians receive outfielder Drew Stubbs and 21-year-old pitching prospect Trevor Bauer from the Reds along with pitchers Matt Albers and Bryan Shaw from the Arizona Diamondbacks.
The Diamondbacks get shortstop Didi Gregorius from Cincinnati along with pitcher Tony Sipp and infielder Lars Anderson from the Indians.
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An iPhone priced below $200 would devastate RIM and Nokia – and Apple’s margins

Both Bloomberg and the Wall Street Journal now believe Apple (AAPL) is seriously considering launching a cheap iPhone. Speculation about this has been going on for years. But the probable price range mentioned by Bloomberg is a huge shock: The rumored retail price range of $100 to $150 is far below what had earlier been assumed. The iPhone 5 tends to sell for more than $700 in emerging markets. The 2-year old iPhone still costs more than $500. That is the reason why iPhone market share is fading below 5% in major markets like Brazil. But industry experts had widely assumed that the retail price of a low-end iPhone would be somewhere around $250 to $300. Even this would trigger radical changes in the handset markets around the globe.
[More from BGR: iPhone 5 now available with unlimited service, no contract on Walmart’s $45 Straight Talk plan]
Anything under $200 would be an earthquake. Smartphones with capacitive touch screens and 1 GHz processors selling under $150 at retail cannot have operating margins above 15%. Nokia (NOK) has 70 million unit quarterly feature phone volumes and a lot of experience in tight cost control. Yet even Nokia cannot get the operating margins of its latest and most desirable Asha models costing less than $150 much above 10%. You can only lower touch screen quality or processing power of a low-end iPhone so far. Moving to a resistive touch screen or a 600 MHz processor would splinter the iOS app market.
[More from BGR: CES has sadly become a complete waste of time]
If Apple truly is willing to dive into the sub-$200 gutter, the impact on vendors from RIM (RIMM) and Nokia to HTC (2498) and LG (066570) would be devastating. The best-selling prepaid smartphone in the United Kingdom right now may be the Huawei Ascend G300, a device with 4-inch display, 5 megapixel camera and 2.5 GB of internal memory that sells for about $160. This is the sweet spot of the budget smartphone market from Europe to Asia. It is quite possible to do a cheap iPhone with these specs, priced at $150 in the fourth quarter of 2013 and shoot for maybe a 10% operating margin.
That device would sell a hundred million units in a year with no marketing, if the production can be ramped up fast enough. It would reverse the market share losses Apple has recently suffered from Brazil to Germany literally in a quarter or two. But would Apple really be willing to tolerate the massive margin hit such a product would trigger? Being the champion of the mobile software market is worth a lot. But a sub-$150 iPhone would carry the obvious risk of cannibalizing the $650 iPhone sales deeply and permanently. The performance requirements created by the iOS app market prevent Apple from constraining the budget iPhone with truly low-end components.
Of course, the strategic impact of a bargain basement iPhone would be momentous. Apple would get to play Attila the Hun and literally wipe out smaller rivals who couldn’t possibly undercut a $150 iPhone on price. It is worth noting that one of the best-selling Nokia feature phones, the Asha 311, costs about $140 in retail. If Bloomberg is right, Apple is preparing to attack with a smartphone priced to the level of a feature phone that was created specifically for Africa and India.
It is clear that Apple is being forced into a corner. Google (GOOG) Play app revenue growth is now far faster than iOS app revenue growth. Instat claims that the page views of Android smartphones have started soaring above page views of iPhones across various markets. Apple cannot allow Google to gain hegemony in mobile content consumption in Asia, Latin America and Africa. Something has to be done. But the plunge into deep budget territory that Bloomberg is describing is very difficult to believe.
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Samsung sets sights on RIM’s corporate users

Now that Samsung (005930) has bested Apple in the consumer smartphone market, at least where shipment volume is concerned, the company is setting its sights on Research in Motion’s (RIMM) corporate user base. The company is investing heavily in enterprise devices that incorporate a higher level of security and reliability than consumers require. Various government agencies and corporations aren’t fully sold on RIM’s upcoming BlackBerry 10 operating system and are still unsure if will satisfy their needs. As a result, they have begun to explore alternatives for their employees.
[More from BGR: iPhone 5 now available with unlimited service, no contract on Walmart’s $45 Straight Talk plan]
“The enterprise space has suddenly become wide open,” Kevin Packingham, chief product officer for Samsung Mobile USA, said in an interview with Reuters. “The RIM problems certainly fueled a lot of what the CIOs are going through, which is they want to get away from a lot of the proprietary solutions.”
[More from BGR: CES has sadly become a complete waste of time]
The executive revealed that Samsung’s corporate market ambitions advanced after its flagship Galaxy S III smartphone gained various security certifications. He noted that companies “want something that integrates what they are doing with their IT systems,” and that “Samsung is investing in that area.” Packingham said that enterprise has been a focus of the company for a long time and its products have finally evolved enough to “really take advantage” of the market.
“We knew we had to build more tech devices to successfully enter the enterprise market,” he said. “What really turned that needle was that we had the power of the GS3.
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Three top U.S. wireless carriers to embrace BlackBerry 10

LAS VEGAS (Reuters) - Three of the top U.S. cellphone carriers signaled this week that they would support Research In Motion's BlackBerry 10 products, the first of which are due to be unveiled Jan 30, offering a hopeful sign for RIM's comeback effort.
Executives at Verizon Communications , AT&T Inc and T-Mobile USA all said they are looking forward to the devices, which will be crucial for RIM's chances of regaining lost ground from rivals such as Apple Inc and Samsung Electronics .
"We're hopeful its going to be a good device," Lowell McAdam, chief executive of Verizon Communications, majority owner of the biggest U.S. mobile service Verizon Wireless.
"We'll carry it," McAdam said in an interview at the Consumer Electronics Show in Las Vegas.
BlackBerry 10 is RIM's next-generation mobile operating platform and it is preparing to launch new smartphones later this month. Word that major carriers will offer the devices is good news for RIM.
RIM, which once commanded the lead in the smartphone market, has rapidly lost ground to Apple's iPhone and Samsung's line of Galaxy products, especially in North American and European markets, as customers abandon its aging BlackBerry devices.
It has been testing the new BlackBerry 10 devices with carriers so they can assess their compatibility with networks.
No. 4 U.S. mobile provider T-Mobile USA, a unit of Deutsche Telekom , also plans to carry the new BlackBerry 10.
"We're extremely optimistic that it's going to be a successful product and our business customers are extremely interested in it," Chief Executive John Legere said.
AT&T has promised to support the BlackBerry 10 platform, according to Chief Marketing Officer David Christopher, but he would not discuss specific devices.
However, AT&T handset executive Jeff Bradley made it clear that the No. 2 U.S. mobile operator would carry the phone.
"It's logical to expect our current (BlackBerry) customers will have the best BlackBerry devices to choose from in the future," Bradley said.
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Rate on 30-year mortgage ticks up to 4 percent

WASHINGTON (AP) — The average rate on the 30-year mortgage hovered above the record low for a third straight week. But cheap mortgage rates have done little to boost home sales or refinancing.
Freddie Mac said Thursday that the rate on the 30-year loan ticked up to 4 percent from 3.99 percent. Six weeks ago, it dropped to a record low of 3.94 percent, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage rose to 3.31 percent from 3.30 percent. Six weeks ago, it hit a record low of 3.26 percent.
Rates have been below 5 percent for all but two weeks this year. Yet this year could be the worst for home sales in 14 years.
Mortgage applications fell 10 percent this week from the previous week, according to the Mortgage Bankers Association.
High unemployment and scant wage gains have made it harder for many people to qualify for loans. Many Americans don't want to sink money into a home that could lose value over the next three to four years. And most homeowners who can afford to refinance already have.
The low rates have caused a modest boom in refinancing, but that benefit might be wearing off. Most people who can afford to refinance have already locked in rates below 5 percent. Refinancing fell 12.2 percent last week, according to the mortgage bankers group.
The average rates don't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fees for the 30-year and 15-year fixed mortgages were unchanged at 0.7.
The average rate on the five-year adjustable loan fell to 2.97 percent from 2.98 percent. The average rate on the one-year adjustable loan increased to 2.98 percent from 2.95 percent.
The average fees on the five-year and one-year adjustable loans were both unchanged at 0.6.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country Monday through Wednesday of each week.
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