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<p style="font-size:xx-small;"> The office in charge of implementing President Obamas health care law is
being spared from sequestration cuts and furloughs. Gary Cohen, director
of the Center for Consumer Information and Insurance Oversight, said Wednesday
his office was not forced to cut worker hours due to the
across-the-board spending cuts that rolled out in March, The Hill reported.Republicans
have accused the Obama administration of cherry-picking projects and agencies
that would be slapped hardest by sequestration. Most recently, furloughing
FAA workers have caused massive delays at airports across the country.Rep.
Greg Harper, R-Miss., reportedly said the fact that ObamaCare officials
havent had their hours cuts highlights the political nature of the cuts."We're
talking about at least a 15 percent furlough of current air-traffic controllers,
resulting in delays and perhaps safety concerns, but yet this has been
a selective political item by the administration," Harper said.Cohen maintains
his office is still feeling the pinch because they are under a
hiring freeze but Harper said during an Energy and Commerce oversight subcommittee
hearing that he wasn't buying it.Click for more from The Hill.
-year
Treasury note, which has fallen in recent weeks.The Federal Reserve has
been buying Treasury bonds since the fall. That has helped to lower
the yield. And in recent weeks, concerns that the U.S. and global
economies are slowing have led investors to shift money into safer assets,
like Treasurys, and away from stocks. Greater demand for Treasurys raises
their price and lowers their yield.The yield was 1.72 percent at midday
Thursday, up from 1.69 percent last week but still at a historically
low level.To calculate average mortgage rates, Freddie Mac surveys lenders
across the country on Monday through Wednesday each week. The average doesn'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 fee for 30-year mortgages rose to 0.8 point from 0.7
point last week. The fee for 15-year loans was unchanged at 0.7
point.The average rate on a one-year adjustable-rate mortgage fell to 2.58
percent from 2.63 percent last week. The fee for one-year adjustable-rate
loans increased to 0.5 point from 0.4.The average rate on a five-year
adjustable-rate mortgage rose to 2.62 percent from 2.60 percent. The fee
declined to 0.3 point from 0.5.
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