In Brief

WASHINGTON

In quality survey, U.S. carmakers top foreign brands for first time

U.S. automakers have surpassed foreign brands for the first time in a survey that measures the quality of new cars and trucks.

J.D. Power and Associates said Thursday that owners of vehicles made by Detroit automakers reported fewer problems on average during the first 90 days of ownership than those built by companies based overseas.

It was the first time that has happened in the 24 years the industry research group has conducted the annual quality study, a closely watched measure of the durability and reliability of vehicles.

“Domestic automakers have made impressive strides in steadily improving vehicle quality,” said David Sargent, J.D. Power’s vice president of global research.

J.D. Power said Ford Motor Co. showed some of the biggest gains in quality among individual brands, moving into the fifth spot.

Porsche was the top scorer. Toyota Motor Corp., which suffered through huge safety recalls this year, saw its score drop .

Sussex Group told license is in danger of revocation

Joseph Waltuch, commissioner of the Nevada Mortgage Lending Division, on Monday notified Sussex Group Inc. of his intent to revoke the license of the escrow company.

The commissioner said Sussex prevented examination by the division on two different days in February, failed to keep business in the licensed location and changed ownership without approval of the division.

Sussex owner Barry Fulco was accused of selling all of the company’s stock to Donald Grisley without state approval. Also, the notice said, Fulco and Grisley tried to rescind the sale in December.

The escrow company was given the opportunity to request a hearing. Attempts to reach the company for comment failed.

ATLANTIC CITY

N.J. lawmakers want voters to decide Web, sports betting

Convinced that Internet gambling is coming someday, New Jersey wants to be its epicenter.

Lawmakers want voters to decide this fall if the state should offer sports and Internet gambling in an attempt to make the state the nation’s leader in an emerging betting industry and stop the slow death spiral of Atlantic City casinos and the state’s racetracks. That’s provided, of course, that a federal ban is repealed.

Senate President Stephen Sweeney, Sens. Raymond Lesniak, Jim Whelan and Jeff Van Drew and Assemblyman John Burzichelli called Thursday for a gambling summit that would bring together lawmakers, industry leaders and policy experts.

The Democratic legislators want a constitutional amendment to be placed before voters in the November elections to maximize revenue for Atlantic City’s 11 casinos and its racetracks, which are locked in a bitter struggle over dwindling gambling dollars .

NEW YORK

Thirty-year mortgage rates rise but stay historically cheap

Rates on 30-year fixed mortgages backed off from yearly lows this week, but still remain historically cheap.

Mortgage finance company Freddie Mac says the average rate rose to 4.75 percent, up from 4.72 percent last week. The rate hit 4.71 percent in December, the lowest since Freddie Mac began keeping records in 1971.

The average rate on a 15-year fixed-rate mortgage edged up to 4.2 percent, up from its all-time low of 4.17 percent set last week.

The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.

Concerns over the European debt crisis and the volatile stock market have made U.S. Treasury debt more attractive.

Mortgage rates tend to follow the yield on U.S. Treasury debt.