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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AP – A key lawmaker is working with banks, regulators and the Obama administration on a new way to boost the government’s struggling foreclosure prevention effort by encouraging banks to reduce the total amount borrowers owe.
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AP – Mortgages rates have dipped below 5 percent again, four weeks before a government program that is helping keep rates low is scheduled to run out.
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AP – The government is giving homeowners another year to refinance their loans under a little-used program designed to help borrowers whose homes have plummeted in value.
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AFP – US consumer spending rose more than expected in January but personal income barely budged amid a fragile economic recovery, the government said Monday.
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BusinessWeek – America’s housing market implosion was the epicenter of the Great Recession. It’s hardly surprising that the federal government directed enormous resources at the market. Besides bailing out vulnerable banks, the federal government nationalized mortgage behemoths Fannie Mae and Freddie Mac, opened the lending spigot at the Federal Housing Administration (FHA), passed a first-time home buyers’ tax credit, and established a mortgage modification program for troubled homeowners. The Federal Reserve embarked on a $1. …
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Reuters – American International Group Inc has decided not to use securitized U.S. life insurance policies to repay the U.S. government after a $182.3 billion rescue, a source familiar with the matter said on Friday.
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AP – Fannie Mae plans to take a $5 billion charge when its reports its fourth quarter results later this week because the government blocked its plan to sell tax credits.
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AP – The British government said Wednesday that it will withdraw unlimited guarantees for depositors in mortgage lender Northern Rock in May as another step to prepare for the company’s return to private ownership.
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AP – Britain’s national and local government had to borrow money in January for the first time in 1993, officials statistics showed Thursday in another sign of how recession is hurting government finances.
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