UK home loans fall by half in January (AP)

AP – The value of home mortgage advances in January fell by half from December, when there was a late rush to complete deals before a tax break ended at the New Year, the Council of Mortgage Lenders said Friday.

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Summary Box: Citi CEO sees return to profitability (AP)

AP – BULLISH OUTLOOK: Citigroup Inc. says its returning to “sustained profitability” after losing billions on bad loans and taking a federal bailout. CEO Vikram Pandit says the bank is shedding risky mortgage assets and shifting focus to emerging markets like Latin America and Asia.

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Fannie Mae to offer $6b in notes (AP)

AP – Fannie Mae on Thursday said it will offer $6 billion of new 3-year notes due May 7, 2013.

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Gov’t official warns on home down payment hikes (AP)

AP – The head of the Federal Housing Administration is warning that boosting the minimum down payment borrowers must provide to qualify for home loans backed by the agency could threaten the housing market.

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Stocks Are Quiet While Currencies Scream (The Motley Fool)

The Motley Fool – After a down January, the stock market is again positive for the year. The much-fabled January effect barometer didn’t work in 2009, and it remains to be seen if it will work in 2010. Economic data has continued its slow improvement, keeping stocks fairly calm. The wild action so far this year has been in the currency markets.

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Mortgage rates remain below 5 percent (AP)

In this Feb. 28, 2010 photo, a realtor's sign proclaims a residential home sale in Sudbury, Mass. Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, March 11, 2010, weeks before a government program that has been keeping rates low is scheduled to expire.(AP Photo/Bill Sikes)AP – Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.

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Foreclosures drop for 2nd month in February: RealtyTrac (Reuters)

In this Feb. 28, 2010 photo, a realtor's sign proclaims a residential home sale in Sudbury, Mass. Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, March 11, 2010, weeks before a government program that has been keeping rates low is scheduled to expire.(AP Photo/Bill Sikes)Reuters – U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed.

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Quinn seeks income tax hike for schools (AP)

Illinois Gov. Pat Quinn delivers his State of the Budget address to a joint session of the Illinois General Assembly on the House floor at the Illinois State Capitol in Springfield, Ill., Wednesday, March 10, 2010. (AP Photo/Seth Perlman)AP – Calling himself a realist, Gov. Pat Quinn on Wednesday scaled back his proposal to raise income taxes, shifting to a call for an increase of just one percentage point to be used solely for preventing deep cuts to education.

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Home loan demand nudges higher in latest week (Reuters)

In this Feb. 28, 2010 photo, a realtor's sign proclaims a residential home sale in Sudbury, Mass. Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, March 11, 2010, weeks before a government program that has been keeping rates low is scheduled to expire.(AP Photo/Bill Sikes)Reuters – U.S. mortgage applications nudged higher last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.

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Nationalized UK bank Northern Rock back in profit (AP)

AP – Nationalized mortgage lender Northern Rock said Wednesday that it returned to profit in the second half of 2009 as interest income rose and losses on loans fell.

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