Two Koreas end preliminary military talks without

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Two Koreas end preliminary military talks without progress
South Korea and the Democratic People 's Republic of Korea (DPRK) ended preliminary military talks without breakthrough on Wednesday,[link widoczny dla zalogowanych], as the two estranged neighbors failed to agree on agenda for the proposed high-level talks, the defense ministry said.The second day of the colonel-level military talks, the first major inter-Korean contact following artillery exchange in November last year,[link widoczny dla zalogowanych], bogged down as both sides did not even reach an agreement on when the next round of the talks should be held, according to officials.
At the unfruitful talks,[link widoczny dla zalogowanych], Seoul stuck to the position that the high-level talks must discuss the DPRK's alleged sinking of a South Korean warship last March and shelling of an inhabited South Korean island near the disputed sea border off the west coast of the Korean peninsula,[link widoczny dla zalogowanych], which altogether killed 48 soldiers and two civilians.
Pyongyang, on the other hand,[link widoczny dla zalogowanych], insisted the two rivals discuss " halting military acts" that can be considered as provocations and claimed Seoul's insistence on bringing up the two incidents amounts to rejecting the high-level military talks,[link widoczny dla zalogowanych], according to the defense ministry.Pyongyang has denied responsibility for the fatal sinking and claimed its artillery attack on the island was for self-defense in the wake of provocative South Korean and U.S. drills near the border.
U.S. 30-year mortgage rate rises to highest level since April 2010
The U.S. 30-year fixed-rate mortgage (FRM) this week rose to the highest point since April 2010, showed the Primary Mortgage Market Survey released Thursday by Freddie Mac.Freddie Mac said that the 30-year FRM averaged 5.05 percent for the week ending Feb. 10, 2011,[link widoczny dla zalogowanych], up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 4.97 percent.
The 15-year FRM this week was 4.29 percent, up from the previous week's 4.08 percent. A year ago at this time, the 15-year FRM averaged 4.34 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.92 percent, up from the prior week's 3.69 percent,[link widoczny dla zalogowanych], the company said.
Meanwhile, the 1-year Treasury-indexed ARM averaged 3.35 percent this week, up from last week when it averaged 3.26 percent."Long-term bond yields jumped on positive economic data reports, which placed upward pressure on mortgage rates this week,[link widoczny dla zalogowanych]," said Frank Nothaft,[link widoczny dla zalogowanych], vice president and chief economist of Freddie Mac.Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders.
S Korean central bank freezes key interest rate at 2.75%
South Korea's central bank said Friday it left the benchmark interest rate unchanged at 2.75 percent.The Bank of Korea (BOK) raised its seven-day repurchase rate by a quarter percentage point last month to 2.75 percent after lifting the rate by 25 basis points in July and November last year each from a record-low 2.00 percent.The BOK's rate decision came amid spreading expectations that the bank is likely to raise the borrowing costs by 25 basis points to 3.00 percent to curb inflationary pressures.
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