Real estate

NEW YORK (AP) — Stocks fell in afternoon trading Wednesday on news that several Federal Reserve policymakers in a meeting earlier this month favored cutting back on stimulus programs as early as June if the economy continued to improve.

The release of minutes of the April 30-May 1 meeting reversed a surge earlier in the day on hopes that the Fed was a long way from stopping its stimulus efforts.

WASHINGTON (AP) — Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists.

The economists predict that the U.S. economy will grow 2.4 percent this year and 3 percent next year. That's unchanged from their forecast in February.

But they are more bullish on consumer spending and housing than they were three months ago, in part because of a more positive view about unemployment.

WASHINGTON (AP) — President Barack Obama and first lady Michelle Obama held assets last year that were worth between $1.8 million and nearly $7 million, according to federal financial disclosure forms the White House released Wednesday.

Required by law, the forms allow public officials to list their assets in broad ranges, such as between $1 million and $5 million, which makes it difficult to determine a precise net worth.

LOS ANGELES (AP) — Fewer U.S. homes entered the foreclosure process or were repossessed by lenders last month, the latest indication that the nation's foreclosure woes are waning.

Nationally, home repossessions fell 20 percent in April from the previous month and were down 32 percent from a year earlier, foreclosure listing firm RealtyTrac Inc. said Thursday.

Foreclosure starts, the initial step in the process that can eventually lead to a home being foreclosed upon, dipped 4 percent last month from March and tumble 28 percent from April last year, the firm said.