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K-9 cop gets his man

A K-9 cop captures a purse-snatcher, there was a huge water leak in Mentor’s industrial corridor and city leaders appear to be dabbling in Building One America. Those items and more in the latest weekly city manager memo to City Council:

Police Department
• A male was arrested for theft after stealing a purse from an employee at the Petticoat Junction. The male stole the purse and...

Source: Reporters' Notebook

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Breaking News

  • 'Payday Loan' Scams Reported

    Another reported in March that he was told he had a balance of $496 on a cash advance he had actually paid off. Janowski said criminals are applying for a Payday Loan -- a cash advance -- online, using someone else's information. When the loans

  • Local news briefs — Oct. 3

    The latest robbery at Pandora Novelties & Gifts, 16 S. Highland Ave., took place about 11 a.m. when an armed man demanded money from a 71-year-old male clerk and took cash and a gas-mask style tobacco pipe before leaving. On Sept. 26, a gunman went

  • Obama Outspending Romney on TV Ads

    In Ohio and in Iowa, in Norfolk, Va., and on the Boston stations that feed New Hampshire, Mr. Obama out-advertised his rival after the parties' nominating conventions, according to data compiled by the political advertising monitoring firm Kantar Media

  • Local Business, 'Mob' Mentality

    This past week, Cash Mobs and Restaurant.com promoted the first-ever dish mobs, where four cities around the country hosted customers in a push to eat at local small restaurants. Andrew Samtoy, co-founder of Cash Mobs, said the idea The

  • Ohio's aerospace industry expects to take flight with exports

    Ohio's second largest industry -- and it has nothing to do with cars or corn -- is about to receive a boost that insiders say could spur the expansion of advanced manufacturing and create jobs. Representatives of the state's aerospace industry today

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News Summary: Rates on US mortgages at record lows
RATES AT RECORD LOWS: Average U.S. rates on fixed mortgages fell again to record lows this week. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates.

Rate on 30-year mortgage hits record low 3.40 pct.

In this Friday, Sept. 21, 2012, photo,a home is for sale in Oklahoma City. Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates. Mortgage buyer Freddie Mac said Thursday, Sept. 27, 2012, the rate on the 30-year loan dropped to 3.40 percent. That's down from last week's rate of 3.49 percent, which was the lowest since long-term mortgages began in the 1950s. (AP Photo/Sue Ogrocki)Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates.

Already signs Fed action is working: Boston Fed's Rosengren
QUINCY, Massachusetts (Reuters) - The Federal Reserve's decision last week to buy large quantities of mortgage-backed securities is already having a positive effect on wholesale mortgage rates, the president of the Federal Reserve Bank of Boston said on Thursday. Eric Rosengren, in a speech to a chamber of commerce in the Boston suburb of Quincy, also said the U.S. economy was clearly in better shape than some developed peers internationally, but still not strong enough to bring the unemployment rate down more quickly. (Reporting By Ben Berkowitz; Editing by Chizu Nomiyama)

Ahead of the Bell: Weekly mortgage rates
Loan buyer Freddie Mac reports Thursday on whether mortgage rates are continuing to hold near recent low rates.

U.S. mortgage refinancing applications rise as rates hit record low: MBA

A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of WashingtonNEW YORK (Reuters) - Applications for home mortgages dipped last week, though demand for refinancings rose as mortgage rates fell to a record low, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, edged down 0.2 percent in the week ended Sept 14. The seasonally adjusted index of refinancing applications gained 0.80 percent. The gauge of loan requests for home purchases, a leading indicator of home sales, tumbled 3.8 percent. ...

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