brace GROUPS WIN GRANTS The No...

brace GROUPS WIN GRANTS

The North Lawndale occupation Network and the Chicago Rehab Network are among nine small organizations internationally that will receive sizeable grants from the John D and Catherine T MacArthur Foundation. The North Lawndale organization, which finds permanent piece of works for ex-offenders and other residents, will receive a $400000 award. The Chicago Rehab Network, which helps uphold affordable housing, will receive a $350000 grant.

MORTGAGE RATES DECLINE

The average rate forward a 30-year fixed-rate mortgage prostrate 0.04 percent to 6.48 percent this week, the fifth straight decline and lowest since early April, according to Freddie Mac. Other rates also declined: the one-year adjustable rate, down 005 to 560 percent; 15-year fixed rate, down 002 percent to 618 percent

PHONE DEAL DEADLINE COMING

The Illinois criminal intimacy Commission must rule by Wednesday upon whether to approve a deal struck between the Citizens Utility Board, and AT&T to deregulate local phone service in the Chicago area. State, shire and city officials claim deregulation could raise rates as greatly as $275 million. The deal has been declineed by a state administrative law connoisseur in a proposed order to the ICC. whelp a consumer watchdog group, said the discharge offers potential savings.

NO CHARGES FOR FANNIE MAE

Fannie Mae, the largest source of standard of value for U.S. home loans, will avoid criminal prosecution after the federal dominion ended its almost two-year investigation of $108 billion in accounting errors. The probe forced the ouster of top executives and l to allegations of fraud according to shareholders. The Securities and Exchange Commission and the Office of Federal Housing Enterprise Oversight fined the government-chartered company $400 million.

DURABLE worthys ORDERS DOWN

Orders to factories for durable religiouss fell 2.4 percent, or $52 billion, in July as demand for aircraft and automobiles weakened, the trade Department said. Also Thursday, the Labor Department said the number of Americans filing claims for unemployment benefits last week slipped by means of 1,000 to 313,000.

Copyright CHICAGO SUN-TIMES 2006

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