- ‘Gay Jeans’ that fade into rainbow-colored denim created
- Divided court strikes down big porn award
- Jimmy Carter: Don’t hurt Russian people with sanctions
- Oldest ex-MLB player dies in Cuba, 2 days shy of 103rd birthday
- ‘Top Gun’ for drones: Squadrons of carrier-based killers have Navy’s approval
- Bill Clinton to endorse Charlie Rangel for re-election
- Pfc. Bradley Manning is now Pfc. Chelsea Manning: Court says so
- Secret base U.S. special forces used to train Libyans now under terrorist control: report
- 9th suspect in N.C. kidnapping turns self in to FBI
- L.A. sheriff admits to testing flyover spy program without notifying residents
Economy Briefs: Foreclosure starts down on annual basis in October
LOS ANGELES — U.S. homes are entering the foreclosure process at a slower pace than a year ago, and fewer properties are being repossessed by lenders, new data show.
From January through October, 971,533 homes were placed on the path to foreclosure, down 8 percent from the same period last year, foreclosure listing firm RealtyTrac Inc. said Thursday.
Bernanke: Tight standards on loans hurting economy
Some tightening of credit standards was needed after the 2008 financial crisis, but “the pendulum has swung too far the other way,” Mr. Bernanke said. Qualified borrowers are being prevented from getting home loans, he said.
Rate on 30-year loan hits record low 3.34%
The average interest on fixed-rate mortgages fell to fresh record lows this week, a trend that has helped the housing market start to recover.
Mortgage buyer Freddie Mac says that the average rate on the 30-year loan dipped to 3.34 percent, the lowest on records dating back to 1971. That’s down from 3.40 percent last week and the previous record low of 3.36 percent reached last month.
Patriot Coal to stop mountaintop removal mining
MORGANTOWN — Bankrupt Patriot Coal Corp. agreed Thursday to become the first U.S. coal operator to phase out and eventually stop all large-scale mountaintop removal mining in central Appalachia under an agreement reached with three environmental groups that sued over pollution from several West Virginia operations.
St. Louis-based Patriot said the agreement allows it to postpone as much as $27 million in expenses into 2014 and beyond, improving its liquidity and the likelihood it can successfully emerge from Chapter 11 protection as a viable business.
TWT Video Picks
By Andrew P. Napolitano
Obama's veil of secrecy is pierced
- 'Top Gun' for drones: Squadrons of carrier-based killers have Navy's approval
- Pentagon plans to replace flight crews with 'full-time' robots
- Kansas will nullify local regulation of guns
- America is an oligarchy, not a democracy or republic, university study finds
- Nevada rancher Cliven Bundy hailed as patriot, ripped as lawless deadbeat
- CARSON: When government looks more like foe than friend
- Opposition rising to Colorado gun control laws
- Tactical advantage: Russian military shows off impressive new gear
- Obama avoids 'red line' for China; prepared to impose tougher sanctions on Russia
- Protesters, police clash in Philippines ahead of Obama visit
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