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The Journal Gazette

  • Moore

Friday, February 22, 2019 1:00 am

Briefs

Financial adviser gets recognition

Staff, news services

Fort Wayne Mayor Tom Henry will proclaim today “Chris Moore Day.”

The mayor is expected to be joined by U.S. Rep. Jim. Banks, state Sen. Justin Busch, and other officials in commending Moore, a longtime financial adviser, a news release said.

Presentations will be made during a 9:30 a.m. gathering at Moore & Associates, 6226 Covington Road. The recognition comes on the day Moore celebrates his 30th year as a financial adviser in Fort Wayne. Moore is a private wealth adviser and owner of Moore & Associates, which is part of Ameriprise Financial Inc., and has a radio show on WOWO 1190-AM, 107.5FM.

Bruck Krarup, an investment executive in Cincinnati hired Moore to work at IDS Financial Services, which later became Ameriprise.

“He would always be willing to go above and beyond for the clients,” Krarup said in a statement. “And that's what it takes to be a top adviser.”

Moore's company on Wednesday announced he is a recipient of Forbes' “Best-in-State Wealth Award,” based on ethical standards, quality of services and business success.

Big ticket orders up 1.2% in December

Orders to U.S. factories for big-ticket manufactured goods posted a 1.2 percent advance in December, but much of the strength came from a surge in demand for commercial aircraft, a notoriously volatile sector.

In a worrisome development, a key category that tracks business investment fell for a second straight month.

The December advance in orders for durable goods followed a 1 percent rise in November which was revised up from an initial reading of 0.7 percent, the Commerce Department reported Thursday.

Existing home sales slow in January

U.S. home sales fell 1.2 percent in January to their worst pace in more than three years, as persistent affordability problems have put a harsh chill in the real estate market.

The National Association of Realtors said Thursday that sales of existing homes declined 1.2 percent to a seasonally adjusted annual rate of 4.94 million last month, the slowest sales rate since November 2015.

During the past 12 months, sales have plunged 8.5 percent. Would-be homebuyers are increasingly priced out of the market as years of climbing prices and strained inventories have made ownership too costly. A solid job market has done little to boost sales, with the sharpest annual sales declines being among homes priced less than $250,000.

30-year mortgage rate at 1-year low

U.S. long-term mortgage rates dipped this week to the lowest average in more than a year, providing a possible boost to the start of the spring homebuying season in March.

Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage declined to 4.35 percent from 4.37 percent last week. The key 30-year home borrowing rate averaged 4.40 percent a year ago. This week was the lowest average since the week of Feb. 8, 2018.

The average rate this week for 15-year, fixed-rate loans declined to 3.78 percent from 3.81 percent.