Business
N.J.’s Gov. Christie Blocks Fracking Ban, Orders Study
TRENTON, N.J., Aug. 25 (UPI) — Legislation that would have permanently banned hydraulic fracturing in New Jersey has been blocked by the governor, an industry association announced Thursday. Gov. Chris Christie conditionally vetoed the legislation and ordered state officials to begin the process of drawing up regulations to ensure that “fracking” is conducted safely. “Without […]
Long-term Mortgage Rates Rise
WASHINGTON, Aug. 25 (UPI) — Long-term mortgage rates rose during the week ending Thursday, the U.S. Federal Home Loan Mortgage Corp. reported. Interest rates were up after diving sharply in the previous week with turmoil in stock markets sending investors toward government bonds, which put benchmark rates lower. Freddie Mac said the average interest rates […]
One Firm Reshuffles Jobless Claims Number
WASHINGTON, Aug. 25 (UPI) — First-time jobless benefit claims rose by 5,000 in the week ending Saturday with the number skewed by a strike at Verizon, the Labor Department said. With 45,000 Verizon Communications workers on strike, the Labor Department said 8,500 of those filed for unemployment benefits during the week, CNNMoney reported. The catch […]
Foreclosures 31 Percent Of U.S. Home Sales
IRVINE, Calif., Aug. 25 (UPI) — Foreclosure sales as a percentage of U.S. home sales dropped in the second quarter compared to the first, online marketplace RealtyTrac said Thursday. Homes listed in some stage of foreclosure or fully bank owned made up 31 percent of all residential U.S. home sales, down from 36 percent in […]
Moody’s Lowers Japan’s Rating
TOKYO, Aug. 23 (UPI) — Moody’s rating agency Wednesday lowered Japan’s debt rating a notch to Aa3 from Aa2, citing its deficits and government debt, but said the outlook is stable. In its announcement, Moody’s Investors Service Inc. said the downgrade “is prompted by large budget deficits and the build-up in Japanese government debt since […]
Moody's Lowers Japan's Rating
TOKYO, Aug. 23 (UPI) — Moody’s rating agency Wednesday lowered Japan’s debt rating a notch to Aa3 from Aa2, citing its deficits and government debt, but said the outlook is stable. In its announcement, Moody’s Investors Service Inc. said the downgrade “is prompted by large budget deficits and the build-up in Japanese government debt since […]
Durable Goods Orders Beat Expectations
WASHINGTON, Aug. 24 (UPI) — U.S. durable goods orders jumped 4 percent in July, covering economists’ expectations and then some, the Commerce Department said Wednesday. Economists expected new orders for goods that last three years or more to rise 2.1 percent. However, commerce said orders rose by $7.7 billion for all categories of durable goods […]
Home Prices, Up In June, Down In Quarter
WASHINGTON, Aug. 24 (UPI) — A federal agency said Wednesday U.S. home prices fell 0.6 percent in the second quarter, but rose in June compared to May. The Federal Housing Finance Agency, which tracks prices for homes with mortgages backed by either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corp., said […]
Mortgage Activity Down Slightly
WASHINGTON, Aug. 24 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell in the week ending Friday as interest rates rose. Interest rates for 30-year, fixed-rate mortgages rose from 4.32 percent to 4.39 percent with points rising from 0.86 to 0.88. Rates for 15-year, fixed-rate contracts rose from 3.47 percent to 3.56 percent […]
USPS Study Says Slower Deliveries Might Work
WASHINGTON, Aug. 24 (UPI) — A study says the U.S. Postal Service could save a bundle if it just took its time delivering first class and Priority Mail. Officials from the mail service said new schedules could be announced just after Labor Day, based on a study that said the USPS could save $1.5 billion […]
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