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Take Note

THE PHONE’S PORTABLE, BUT NOT THE NUMBER

The Federal Communications Commission (FCC) for the third time has extended the deadline for requiring wireless phone service carriers to allow consumers to keep their phone numbers when they switch to a new service.

Congress gave people an option to keep their local phone numbers when they switched phone companies back in 1996. But most wireless service providers oppose the option, citing costs and technical hurdles.

About 137 million Americans subscribe to cell phone services. About a third change carriers each year.

ECONOMY GROWING, BUT SLOWER THAN THOUGHT

U.S. economic growth faltered during the second quarter and began the year at a slower pace than previously thought, according to government sources in July.

The Commerce Dept. said gross domestic product advanced at a 1.1 percent seasonally adjusted annual rate during the quarter—half of the 2.2 percent rate estimated earlier by economists.

Consumer spending, which fuels two-thirds of national economic activity, continued to grow, but at a slower 1.9 percent annual rate after increasing at a 3.1 percent pace during the first quarter.

Consumer spending is likely to continue growing, however, thanks mostly to automakers who have brought back or expanded their use of no-interest loans.

NO PLACE LIKE HOME

When it comes to getting a good return, many investors these days are looking homeward. Not only is the real estate market hot right now, but many homeowners are looking to reinvest in their own properties as a safe bet alternative to financial markets.

Many experts are advising homeowners to use their investment capital to pay down their mortgages and improve their property. The return on paying down the mortgage can be as high as the interest rate on the loan. An extra $25 a month, they say, can save a homeowner $20,000 in interest over a typical 30-year mortgage.

Those looking to sell their homes should invest in landscaping, painting, new interiors or even a good cleaning to boost the resale value.