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NPR has learned that two officials of Massey Energy were underground unsupervised for as much as four hours after the explosion at the Upper Big Branch coal mine in April. They reached the longwall area that is believed to be one possible source of the explosion. Massey Energy says its officials were searching for survivors, but some investigators and mine experts are concerned they could have tampered with evidence.
AP - RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent.
U.S. News & World Report - More than four years after real estate values peaked, the historic plunge in home prices remains fresh in the minds of mortgage lenders. After taking painful losses on delinquent home loans, banks have imposed tougher standards--such as increased credit scores and higher down payment requirements--on applicants of all stripes. And as investors fled for the hills, the exotic mortgage products that helped fuel the real estate boom have largely disappeared from the private market. But that doesn't mean all buyers need a big pile of cash to snag a home loan. ...
Employers keep shifting a larger share of health costs to their employees. Higher premiums, deductibles and copayments are making health insurance less affordable for people who get coverage at work.
Reuters - U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
AP - Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
U.S. News & World Report - American consumers hate being told what to do, and to prove it, we routinely make choices that are irrational and counterproductive. We make impulse purchases we can't afford. We build bigger houses than we need, chaining ourselves to an onerous mortgage for years. We drive rugged, four-wheel-drive vehicles even though we never leave the pavement. We buy Snuggies.
AP - Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments.