News
- 04/12/2008 : FDIC's Bair warns investors fighting loan changes
(AP)
:
AP - Investors in mortgage securities who are challenging home loan modification programs aimed at avoiding foreclosures could provoke a "backlash" from Congress, the head of the FDIC said Thursday.
- 04/12/2008 : Bernanke: more action needed to cut foreclosures
(AP)
:
AP - Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles.
- 04/12/2008 : Bernanke says need to do more to halt foreclosures
(Reuters)
:
Reuters - Federal Reserve Chairman Ben Bernanke on Thursday urged more aggressive action to halt home foreclosures, and said write-downs of principal may need to be part those efforts.
- 04/12/2008 : Mortgage rates drop to lowest level since January
(AP)
:
AP - Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market.
- 04/12/2008 : Seabreeze's Kass favors U.S. stocks over Treasuries
(Reuters)
:
Reuters - Hedge-fund manager Doug Kass, who successfully shorted U.S. equities this year including shares of Fannie Mae and Freddie Mac , is now buying U.S. stocks on the belief that they have hit bottom.
- 04/12/2008 : Toll loss narrows, shares rise sharply
(Reuters)
:
Reuters - Toll Brothers Inc , the largest U.S. luxury home builder, said its quarterly loss narrowed slightly as it wrote down less inventory, and its shares rose sharply as homebuilders extended a rally spurred by improved mortgage rates.
- 04/12/2008 : Treasury weighs plan to rescue housing sector: report
(AFP)
:
AFP - The US Treasury Department is considering a plan designed to push down interest rates for home loans in a bid to revive the country's troubled housing sector, newspapers reported Thursday.
- 04/12/2008 : Home Foreclosures Continue, Despite Bank's 'Freeze'
(BusinessWeek Online)
:
BusinessWeek Online - Some homeowners say they are still receiving foreclosure notices, even from banks that have said they would halt the process until the New Year.