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Mortgage News - Wednesday, April 30, 2008 11:30 - 0 Comments

Economy grows by only 0.6 percent in 1st quarter of 2008


By Jeannine Aversa, AP Economics Writer 
Economy limps ahead at a 0.6 percent pace in first quarter, better pace than expected

WASHINGTON (AP) — The bruised economy limped through the first quarter, growing at just a 0.6 percent pace as housing and credit problems forced people and businesses alike to hunker down.
The country’s economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly. Continue…



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  • Economy grows by only 0.6 percent in 1st quarter of 2008 - Wednesday, April 30, 2008 11:30 - 0 Comments
  • Bank of America Net Income Falls 77% on Writedowns - Monday, April 21, 2008 11:48 - 0 Comments
  • Foreclosure fix faces murky future - Wednesday, April 9, 2008 13:37 - 0 Comments
  • Bush Administration Offers New Housing Plan - Wednesday, April 9, 2008 10:52 - 0 Comments
  • Stock Markets - Tuesday, April 8, 2008 16:52 - 0 Comments

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Market News - May 16, 2008 11:08 - 0 Comments

U.S. Stocks Drop, Led by Stores, Banks; Dillard’s, KeyCorp Fall

By Eric Martin, May 16 (Bloomberg)

U.S. stocks fell, led by retailers and banks, after consumer JC Pennyconfidence slumped to a 28-year low and Merrill Lynch & Co. advised selling two regional banks.

J.C. Penney Co. and Dillard’s Inc. fell as the Reuters/University of Michigan preliminary index of consumer sentiment dropped more than forecast and Goldman Sachs Group Inc. said higher energy costs may hurt retail earnings. KeyCorp, Ohio’s third-biggest bank, and Regions Financial Corp., Alabama’s largest bank, led financial shares lower after Merrill Lynch said Continue…

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    Tuesday, April 8, 2008 16:52 - 0 Comments

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Mortgage News - Apr 30, 2008 11:30 - 0 Comments

Economy grows by only 0.6 percent in 1st quarter of 2008

By Jeannine Aversa, AP Economics Writer 
Economy limps ahead at a 0.6 percent pace in first quarter, better pace than expected

WASHINGTON (AP) — The bruised economy limped through the first quarter, growing at just a 0.6 percent pace as housing and credit problems forced people and businesses alike to hunker down.
The country’s economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly. Continue…

More In Mortgage News

  • Bank of America Net Income Falls 77% on Writedowns
    Monday, April 21, 2008 11:48 - 0 Comments
  • Bush Administration Offers New Housing Plan
    Wednesday, April 9, 2008 10:52 - 0 Comments

Mortgage News

Real Estate News - Apr 9, 2008 13:37 - 0 Comments

Foreclosure fix faces murky future

Foreclosure fix faces murky futureSenate fast-tracked legislation to stabilize housing. But Bush administration gives it low marks and House is proposing its own ideas and may even push for broader economic stimulus package.
By Jeanne Sahadi, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) — The Senate is poised to pass a $15 billion package of housing measures intended to stabilize the housing market.

The proposed measures include a controversial tax break for homebuilders and other businesses, plus a new tax credit and deduction for homeowners and home buyers. Continue…

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