30-year mortgage rate nudges above 5%

30-year mortgage rate nudges above 5% The average interest rate on a 30-year fixed-rate mortgage rose above 5 percent for the first time since Halloween. The average 30-year rate this week was 5.05 percent, up from 4.94 percent last week, mortgage finance giant Freddie Mac said Thursday. The last time the average rate was above 5 percent was Oct. 29, when it was at 5.03 percent.

Apple shares climb on ... well ... rumors Apple Inc. shares hit an all-time high Thursday after a published report suggested the intensely scrutinized yet secretive company may be getting ready for a major product announcement. Citing unnamed people familiar with the preparations, the Financial Times reported on its website Wednesday that Apple has rented space for several days in late January at an arts center in San Francisco. The company is famed for its highly staged launches. CEO Steve Jobs has used past events to introduce groundbreaking -- and lucrative -- gadgets such as the iPod and the iPhone. Although Apple has not acknowledged working on a tablet computer -- the company is notorious for keeping upcoming product plans closely guarded -- analysts expect the company's next blockbuster to be something of a cross between a laptop and an iPod Touch, which is essentially an iPhone without the calling features.

Koss cans veep after suspicious transactions Koss Corp., the U.S.-based high-fidelity stereophone leader, announced that following the discovery of unauthorized financial transactions, Sujata Sachdeva, the Milwaukee company's vice president of finance and secretary, has been terminated. Sachdeva served as the company's principal accounting officer. Also, two members of the company's accounting staff who served under Sachdeva were placed on unpaid administrative leave.

Unemployment up, prices down in Japan Japan's government says unemployment rose and prices continued to fall in November. The unemployment rate climbed to 5.2 percent, reversing an improvement to 5.1 percent in October.

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