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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Reuters – The U.S. Federal Deposit Insurance Corp is expected to offer $3.8 billion of guaranteed securitizations backed by the residential mortgage assets of failed banks, market sources said on Tuesday.
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Reuters – The U.S. Federal Deposit Insurance Corp is expected to offer $3.8 billion of guaranteed securitizations backed by the residential mortgage assets of failed banks, market sources said on Tuesday.
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Reuters – The U.S. Federal Deposit Insurance Corp is expected to offer $3.8 billion of guaranteed securitizations backed by the residential mortgage assets of failed banks, market sources said on Tuesday.
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AP – Major stock indexes rose to their highest levels in more than a month Monday after corporate buyouts raised hopes about the economy. The biggest boost for the market came from insurer American International Group, which agreed to sell its prized Asian life insurance business to Britain’s Prudential for $35.5 billion. It is seen as a sign of confidence in the economy when big businesses go ahead with takeovers.
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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 – Sales of new homes unexpectedly fell to a record low in January while demand for loans to buy homes hit a 13-year low last week, fanning fears of renewed weakness in the housing market.
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U.S. News & World Report – The real estate market continued to heal in the final three months of 2009, as lower home prices, cheap mortgage rates, and a federal tax credit worked to juice demand. The development was visible in the S&P/Case-Shiller home price report released Tuesday, which found that the rate of annual home price declines improved again in the fourth quarter. Prices at the national level fell just 2.5 percent in the fourth quarter of 2009, compared with a year earlier. …
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AP – If you had money in the stock market over the past decade, you probably agree that it was one bumpy experience. It might lead you to think your retirement account didn’t fare too well. A new study by Fidelity Investments shows consistent contributions and staying in the market paid off for many, but the gain was due more to a commitment to saving than stellar market performance.
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