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Editorial: Jobs crunch demands action
August’s jobs numbers have landed on Maryland with a resounding thud — another 2,500 jobs lost and an increase to 7.3 percent in the statewide unemployment rate. Employment gains in some sectors (14,700 jobs have been added since January) have been overwhelmed by losses elsewhere. Alexander M. Sanchez, state Secretary of Labor, Licensing and Regulation, […]
Maryland feels pinch as poverty rates rise
WASHINGTON — Experts say national poverty numbers released Tuesday morning are already out of date and could be getting worse, even as Maryland hit a poverty rate of 10.8 percent, the highest in nearly two decades, according to a report by the U.S. Census Bureau. “It is so disheartening because it feels to us like […]
Maryland Mortgage Program rate at record low
The Maryland Department of Housing and Community Development said Monday the interest rate for the state’s flagship mortgage financing program, the Maryland Mortgage Program, has dropped to 3.5 percent, the lowest level in its history. The program is primarily targeted to first-time homebuyers and purchasers of foreclosed and short-sale homes. The drop follows the national […]
Homicide rate climbs in Prince George’s County
COLLEGE PARK — Another person was killed in Prince George’s County Thursday night, this time in Laurel, marking the county’s 20th homicide in 2011 and the fourth this week. This year’s homicide count doubles the total from last year at this time. It wasn’t until April that the county reached 20 homicides in 2010. Police […]
Average rate on 30-year mortgage up to 4.86 pct.
NEW YORK — The average rate on 30-year fixed mortgages rose this week to the highest level in seven months, reflecting higher yields on long-term Treasurys. Freddie Mac says the rate increased to 4.86 percent from 4.81 percent in the previous week. It hit a 40-year low of 4.17 percent last month. The average rate […]
Student loan default rate rises
The number of college students who defaulted on their federal student loans climbed in the fiscal year that ended in September 2008, according to new government data released Monday. And once again, those who attend for-profit colleges and universities were the most likely to default. The grim numbers are no surprise, given that the time […]
