Articles Tagged with ''energy''

Bank Economists: No Clear Recession, Only Slow Growth

The economy will continue to experience slow economic growth this year and into early 2009, according to a press statement Tuesday afternoon from the Economic Advisory Committee of the American Bankers Association. "Although the tax rebates are providing some near-term lift to spending, households will continue to face a multiplicity of negative forces, including energy and food prices, restrained credit conditions and declining home prices," said Peter Hooper, chair of the committee and chief economist, Deutsche Bank Securities in New York.
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US Attorney General: Mortgage Mess Isn't Enron Redux

U.S. Attorney General Michael B. Mukasey ruffled the feathers of more than a few key Democratic lawmakers late Thursday, solidifying his earlier stance that he will not form a national task force to investigate the mortgage crisis -- particularly, mortgage fraud. Fraud in mortgages allegedly has run rampant from borrowers all the way through to Wall Street investors, helping fuel a global financial crisis that many economists say has pushed the United States into a recession.
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Paulson: Housing, Capital Markets Woes Not Over Yet

If woes in the capital markets and housing have some investors facing wear-out, it may be time to take a break from the market altogether and polish up on some golfing or tennis skills: at least, that's the message sent by U.S. Treasury secretary Henry Paulson on Monday. In remarks delivered in Abu Dhabi Monday, Paulson signaled that while he expects the U.S. economy to weather "a rough period," a "trio of headwinds" remain to counter any near-term economic recovery.
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Mortgage Rates Retreat as Inflation Fears Ebb

Fixed mortgage rates broke a string of four consecutive increases, dipping this week in response to favorable news on the inflation front. The average 30-year fixed mortgage rate slid to 6.29 percent, according to Bankrate.com's weekly national survey of large lenders; 30-year fixed rate mortgages had an average of 0.27 discount and origination points, the online information service said. Average 15-year fixed rate mortgage rates inched lower to 6.02 percent, while the average jumbo 30-year fixed rate nosed higher to 6.59 percent. On adjustable rate mortgages, the average 5/1 ARM rate sank to 6.11 percent and the average one-year ARM held steady at 6 percent.
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Former Duke Energy VP Tapped as COO at FNC

FNC, Inc., a provider of collateral management technology to mortgage lenders, said it has selected former Duke Energy Vice President Jeff Triplette as the company's new president and chief operating officer. Triplette previously directed risk management activities for Duke Energy, a Fortune 500 diversified energy company headquartered in Charlotte, N.C.
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Foreclosures Soaring in Florida, New York

While there are some signs of better days ahead, foreclosure filings in New York, Florida and much of the Midwest keep on climbing. With less than a month left in 2006, already the Empire State's 26,424 filings are up 13% over the 23,383 for all of 2005. Quarter to quarter filings are up almost 8%, too—7,449 fourth quarter to date vs. 6,904 in the third quarter, according to numbers from ForeclosureS.com, a California-based real estate investment advisory firm and publisher of foreclosure property information.
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