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The ticker, August 8
Published August 8, 2007 at midnight
REAL SENIORITY
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RETREAT OF THE MINIVANS
15 minivan models hit the automotive market in 2007, down from a high of 21 in 2004. Six of those models have recently been discontinued or are slated to be soon. Sales are plunging so far this year, while sales of crossovers are surging.
Of note: Ford discontinued minivans to focus on crossovers - models with sport-utility-vehicle proportions but smaller in size, with car-like handling and fuel economy. General Motors will stop producing minivans next year.
Source: The Wall Street Journal
INTEREST-RATE HIKE
Lenders are jacking up rates on jumbo mortgages, which exceed the $417,000 limit for loans eligible for guarantee by Fannie and Freddie. They account for about 16 percent of the mortgage market.
Lenders were charging an average 7.34 percent for prime 30-year, fixed-rate jumbo loans Monday, up from an average 7.1 percent last week and 6.5 percent in mid-May.
Source: Inside Mortgage Finance/HSH Associates
HOTEL REVEILLE
57 percent of business travelers worry about sleeping past their alarm.
18 percent trusted a hotel alarm clock to wake them up. Many regarded setting a hotel alarm clock as more complicated than filing taxes or programming a VCR.
Source: Kelton Research, for Hilton Hotels
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