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Category: Credit markets

Credit: Lonnie Tague for the U.S. Department of Justice.

DOJ, Conn. slap S&P with $1.4B

Updated at 7:27 p.m. Connecticut will collect $36 million of a nearly $1.4 billion settlement by Standard & Poor’s Financial Services, which the U.S. Department of Justice and nearly 20 other

Charging into a better economy? Credit card borrowing rising

Americans reduced credit card debt in the first quarter of 2013 at a slower pace than the previous year, prompting concerns that the nation is about to punch the accelerator on debt this year.

Going up: Mortgage rates hit highest levels in a year

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

Mortgage rates, chickens and eggs

The Mortgage Bankers Association reported this week that applications for home loans fell 7.3 percent last week on weaker refi and new purchase activity. At the same time, banks upped the interest

Return of the debt crisis? Yale sues former students

Bloomberg is reporting that Yale University joined other institutions of higher learning going after former students who default on loans. But Yale’s not the only school that’s struggling with debt.

Harrisburg a cautionary tale for bond investors and mayors

The SEC slapped Harrisburg, PA, with a cease and desist order Monday, saying the city’s government for allegedly violating securities law. Regulators found that city officials failed to come clean

March home sales flat as prices flirt with income threshold

The National Association of Realtors reported Monday that sales of existing homes were slightly down in March, compared to February, but up more than 10 percent from a year ago. NAR said there has

New buyers push mortgage applications to three year high

Buyers drove the Mortgage Bankers Associations’ weekly index of purchase activity to its highest level in nearly three years. The MBA’s national report said total activity was up 4.8 percent last

Mortgage rates down, home buying up

Mortgage bankers across the country reported a 4 percent increase in applications for buying homes and a 6 percent increase in refinancing last week. The increase in activity, according to the

Back in grasshopper mode for American economy

If Aesop were alive and writing today, the hard working Ant, who saves and preps for disaster, would get stepped on by Ben Bernanke and the Grasshopper, who lives for today, would get nothing but