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Rob Varnon

Zap! Naugatuck Savings to change into ion Bank

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Naugatuck Savings Bank, which has $975 million in assets, said Monday it will change its name to the more recognizable “ion Bank” in the fall. The move should help ease confusion between Naugatuck Savings and its closely situated competition, publicly traded Naugatuck Valley Savings and Loan, which has assets of $526 million. Bank officials said […] [Read More]

Going up: Mortgage rates hit highest levels in a year

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The Mortgage Bankers Association said rates climbed to their highest levels in a year on expectations that the Fed is going to start tapering its asset buying program. The MBA noted that the economy is showing more strength as rates for 30-year fixed conforming loans rose to 3.9 percent, the highest level since May 2012. […] [Read More]

Conn. 7th in foreclosure inventory

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In April, 4.2 percent of Connecticut’s housing inventory was foreclosed upon, the seventh highest portion in the nation, according to a new report.The Nutmeg State’s foreclosure rate remains high as the judicial process for clearing them remains slow, CoreLogic data shows. Connecticut completed 3,700 foreclosures in the 12 months ended in April. States without judicial […] [Read More]
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Single-family home prices moving out of reach for some

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First timers might find it difficult to find an affordable single-family house in this market as prices accelerate at their fastest pace in 7 years nationally and were up 9.3 percent locally in the first quarter. The increase in prices is a case of lower supply in the market both nationally and locally, experts say. […] [Read More]

Bic honors real tough mudders Wounded Warriors

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As part of its $100,000 donation to the Wounded Warriors Project, Shelton-based Bic USA is sponsoring Tough Mudder and shaving heads at 35 of the events. Bic wants to make 10,000 people bald to raise awareness for our wounded vets. And indications are, our men and women in the military are facing lean times as […] [Read More]

Apple all alone in eBook conspiracy allegations

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Consumers might sympathize with Apple over the tax thing, but this eBook business is a different story. Connecticut Attorney General George Jepsen announced Wednesday Penguin Group got cold feet in the fight against allegations by 32 states that it was part of a conspiracy of book publishers that joined with Apple to fix the prices […] [Read More]
Categories: General, Regulatory

New home sales jump nationally, but remained subdued here

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In April, new home sales hit their second highest level since the recession in America, but not in the Northeast. Here, new home sales in April were a more modest 30,000, according to the Commerce Department. That’s actually lower than the three previous months. It’s no surprise new home sales are not high in the […] [Read More]

Unemployed will take a 19.2 percent paycut

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Unemployment checks for some Connecticut residents will be a little lighter come June, when sequestration takes a bite out of emergency benefits. The State Labor Department said emergency unemployment compensation payments will drop beginning June 16 by 19.2 percent to comply with sequestration. Washington, D.C. politicians concocted a plan where by the bulging federal deficit […] [Read More]