Mortgage crunch threatens high rates and scarce loans
AP reports looming 14 percent mortgage rates by next year amid Fed anti inflation moves. Housing starts may fall up to 25 percent as thrift lenders face rate gaps. States with 12 percent caps face constrained lending. down payments of 5 or 10 percent shrink to near extinction while 20 percent becomes the new norm. Institutions warn buyers and builders will be shut out.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Jay Janis
Federal Home Loan Bank Board
Vandal S. Graylee
The
National
Thomas Parliament
U.S. League of Sayings Associations
Arkansas
Georgia
Illinois
Iawa
Kansas
Missouri
Nebraska
New Jersey
New York
Texas
Stocks Fall As Rally Collapses In Heavy Trading
Wall Street opened with a rally that quickly collapsed as stocks headed sharply lower in heavy trading. UPI reports investors fear government credit-tightening policies will trigger a steep recession. Frank W. Sluss er notes the downturn and the broad market weakness across major indexes.
MENTIONED IN THIS ARTICLE
New York
UPI
Wall Street
Fed
Careening car kills cyclist injures pal in Lorain County
A 15 year old Grafton youth was killed and a 16 year old injured Wednesday night after being struck by a car along Indian Hollow Road in LaGrange Township. Samuel Wisniewski 15 of 17535 Road died on arrival at Elyria Memorial Hospital. Stephen Major 16 of 17519 Indian Hollow Road was listed in fair condition. Driver Kirk Younglas 19 of Foster Road Wellington remained at the scene. Deputies said the incident occurred about 7 30 p m with both riders northbound on the berm. The car swerved left of center and struck Wisniewski. The page continues with market news on the Dow Jones and stock activity.
MENTIONED IN THIS ARTICLE
C-T
Indian Hollow Road
Grafton
LaGrange Township
Samuel Wisniewski
Elyria Memorial Hospital
Stephen Major
Kirk Younglas
Foster Road
Wellington
Lorain County
Younglas
Whitney Road
Major
Wisniewski
Newlyweds Couple in Classic Model A Vehicle Romance
Barbara Hinman and Tom Demoline wed at Faith Lutheran Church in Avon on Saturday. They exited in a Model A owned by the bride’s father, a nod to romance from the rumble seat era, captured by C-T photographer John Fazio.
MENTIONED IN THIS ARTICLE
Barba
Ra Hinman
Tom Demoline
Faith Lutheran Church
Avon
John Fazio
Castro arrives bearded and bantering in New York visit
Fidel Castro landed at Kennedy Airport aboard a Cubana jet at 12 54 a m to address the United Nations and defend Soviet troops in Cuba. He told NBC’s Today show he was happy to be in the United States and joked about past Harlem memories and rumors of chicken plucking by aides.
MENTIONED IN THIS ARTICLE
New York
UPI
Fidel Castro
America
United Nations
United States
Castro
Cuba
General Assembly
Kennedy Airport
New York City
Harlem
Ohio Patrol Alerts On Armed Cuban Refugees
Law enforcement from St. Louis to New York City seeks two Chevrolet cars carrying two Cuban refugees described as armed and dangerous. A Secret Service telegram from St. Louis prompted Ohio posts to detain the group on possible conspiracy charges as an investigation proceeds. Cleveland agent Paul Magalski confirmed the inquiry but declined further comment.
MENTIONED IN THIS ARTICLE
St. Louis
New York City
New We
Fidel Castro
Ohio Highway Patrol
Secret Service
Paul Magalski
Cleveland
Elyria man charged in Rt 10 shotgun slaying
Lorain County sheriff's office charged 26 year old Daniel T. Fels of 7th Street Elyria with aggravated murder in the shotgun slaying of Milford Shamblin 36 of 619 Cornell Ave. Shamblin was killed on the berm of Route 10 in Carlisle after stopping his pickup. Authorities say motive not robbery. arraignment set in Elyria Municipal Court.
MENTIONED IN THIS ARTICLE
Elyria Man
Lorain County
Shamblin
Cornell Ave
Rt. 10
Carlisle Township
Zeiba
Showers Likely Tonight and Friday With Wind
Weather forecast notes showers likely tonight and Friday with a windy pattern. Lows in the lower 40s tonight and highs in the mid 50s Friday, with 70 percent and 60 percent chances of precipitation respectively. West winds develop tonight.
United Way pledges reach 18.3 percent of goal in Lorain County
United Way of Greater Lorain County reports $471,005 raised, 18.3 percent of a $2,575,000 1979 campaign goal, at a meeting in Elyria. About 120 volunteers attended as Ford, GM and US Steel lead with $200,208 combined. 48 area groups were recognized for contributions with Bettcher Industries, Elyria Plating, Rieth Insurance and Nordson Corp among top performers.
MENTIONED IN THIS ARTICLE
United Way
Greater Lorain County
Elyria Holiday Inn
Ford
Steel
Bettcher Industries
Elyria Plating Corp
Emtec, Inc
Gasflux Co
J&r Construction
Nordson Corp
Rieth Insurance
Nelson Stud Welding Co
Conley's Store
First Lorain Trust
Murbach Coal and Supply Co
Murphy Brothers
Wilmot Printing Co
Also Mentioned on This Page
Parliament
Gravice
Frank W. Slusser
le RM
By Tom Ford
Toronto
London
Paris
New York Stock Exchange
Federal Reserve
Treasury
OPEC
Middle East
Europe
Canada
Romcal
Ohio
Fels
Cascade Street
Elyria
Andhens
E23
el Wellington
Glen Miller
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