National Briefing

Rates on 30-year mortgages rose again this week, climbing to the highest level in more than nine months, reflecting more concerns about how the Federal Reserve will respond to higher inflation pressures.

Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6.45 percent this week. That was up from 6.42 percent last week.

It was the highest level for 30-year mortgages since they averaged 6.46 percent for the week of Sept. 9. It marked the fifth consecutive weekly increase and the fifth week that they have been above 6 percent.

Fragile economy improves

WASHINGTON -- The fragile economy improved slightly at the beginning of the year and could grow a bit stronger in the current quarter as extra cash from tax rebates spurs people to buy more. Still, it's not out of danger yet.

The economy grew at a 1 percent annualized rate in the first quarter, helped in large part by stronger sales of U.S. products overseas, the Commerce Department reported Thursday.

That was a tad stronger than the government's previous estimate of 0.9 percent growth for the quarter. And, the new reading was better than the anemic 0.6 percent growth rate logged in the final three months of last year.

Nonetheless, the two quarters together marked the slowest growth in five years.

Anheuser-Busch rejects InBev's $46B bid

ST. LOUIS -- Anheuser-Busch Cos. rejected an unsolicited $46 billion purchase offer from InBev Thursday, just hours after the Belgian brewer appeared to set the stage for a hostile takeover bid.

Anheuser-Busch Chief Executive August Busch IV sent a letter to InBev Chief Executive Carlos Brito saying the offer greatly undervalued the largest U.S. brewer, calling the $65-a-share price "financially inadequate" and not in the best interests of its shareholders.

Earlier in the day, InBev filed a suit in Delaware court, seeking to officially declare that shareholders can remove all 13 members of Anheuser-Busch's board.

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