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Latest Business News: Manufacturing Grows in June, but Hiring Down

Wochit 0:48 mins

Manufacturing activity grew in June, rebounding from an unexpected contraction the prior month, but hiring in the sector was the weakest in nearly four years Hundreds of thousands of struggling borrowers could be in for a pleasant surprise: a quick and easy way to get their mortgage payments back on track. Through a new effort called the Streamlined Modification Initiative, borrowers with mortgages backed by Fannie Mae and Freddie Mac will start receiving offers from lenders but only if they are at least 90 days behind on payments. US stocks are starting the second half of 2013 on a positive note, after the market closed out its best first half of a year in more than a decade.

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