NEW YORK -- Apple Inc. shares hit an all-time high Thursday after a published report suggested the intensely scrutinized yet secretive company may be getting ready for a major product announcement.
Citing unnamed people familiar with the preparations, the Financial Times reported on its Web site Wednesday that Apple has rented space for several days in late January at an arts center in San Francisco.
The company is famed for its highly staged launches. CEO Steve Jobs has used past events to introduce groundbreaking -- and lucrative -- gadgets such as the iPod and the iPhone.
Although Apple has not acknowledged working on a tablet computer -- the company is notorious for keeping upcoming product plans closely guarded -- analysts expect the company's next blockbuster to be something of a cross between a laptop and an iPod Touch.
Mortgage rates creep above 5%
McLEAN, Va. -- The average fixed-rate for a 30-year mortgage climbed above 5 percent for the first time in two months, leading to a decline in mortgage applications.
The average fixed rate on a 30-year mortgage was 5.05 percent this week, up from 4.94 percent last week, Freddie Mac said Thursday. The last time rates were above 5 percent was the week ending Oct. 29, when they were 5.03 percent.
Mortgage rates have risen since they hit a record low of 4.71 percent the week of Dec. 3. They are closely tied to yields on long-term government debt, which have since gone up.
-- From wire reports
