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Briefs: Nobel Laureate to speak at Eller; Mortgage rates lowest in two years

Noted ex-UA professor to speak on economics
Vernon Smith, who shared the Nobel Memorial Prize in Economic Sciences in 2002, will discuss his personal experience as a professor at the University of Arizona in a lecture at the Eller College of Management.

Smith is a former Eller College professor and founder of the College’s Economic Science Laboratory.

He was recognized for establishing laboratory experiments as a tool in empirical economic analysis.

His lecture – “Reflection on Experimental Economics at UA 1975-2001″ – will be from 4-5 p.m. at Berger Auditorium in McClelland Hall, 1130 E. Helen St.

The lecture is free and open to the public.

Citizen staff report

30-year mortgages fall to a two-year low
WASHINGTON – Mortgage rates fell sharply this week with rates on 30-year mortgages dropping to the lowest level in more than two years.

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.10 percent. That was down from 6.20 percent last week and was the lowest rate since the week of Oct. 13, 2005, when rates stood at 6.03 percent.

Analysts attributed the decline to increased worries that a severe slump in housing and a continuing credit crunch could drag the economy into a recession.

The Associated Press

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