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Special Device Help Prevent Suddent Infant Death

Special Device Help Prevent Suddent Infant Death

Researchers from Germany's Fraunhofer Institute for Reliability and Microintegration IZM in Berlin has developed a new breathing sensor system that help prevent Sudden Infant Death Syndrome (SIDS). This syst...

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University Installs Grass Lawn in School Library

University Installs Grass Lawn in School Library

Cornell University has built a grass lawn inside their school library as a part of a project of their institution's Department of Design and Environmental Analysis. The department is currently conducting a r...

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Wash Your Clothes in a Portable Washing Machine [Video]

Wash Your Clothes in a Portable Washing Machine [Video]

Meet, the Scrubba, a portable washing machine, in form of a bag. This wash bag, allows people to do their laundry, on-the-go. The Scrubba is a lightweight, foldable bag that features small nodules to help sc...

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Fart-Deodorizing Underwear Sold in Japan

Fart-Deodorizing Underwear Sold in Japan

Thanks to Japan's new invention, the Deoest underwear, extreme farters can now release their foul smelling gas and prevent people near them from fainting. It is a fart-deodorizing underwear, created by Profe...

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Mortgage Rate: 30-year Fixed Loan Falls to 4%

Written on September 16, 2011 by Japhet Writ

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Mortgage rates hit another record low in two consecutive weeks.

Amid ongoing economic concerns at home and in Europe, mortgage rates hit another record low this week. According to mortgage giant, Freddie Mac, the average rate for a 30-year, fixed-rate loan fell to 4.09% this week — its lowest level in 60 years. For those who want to refinance, the popular option – 15-year fixed mortgage – declined from 3.33% to 3.30% last week.

However, the low rates did little to boost the beleaguered housing market. Despite the increase in mortgage applications to 6.3% last week, only 23% of the applicants intended to use the loan to purchase a home. That is according to a weekly mortgage survey conducted by Mortgage Bankers Association. The rest of the applicants were homeowners seeking to refinance existing, higher-rate mortgages.

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