During the week ended July 31, the 30-year fixed mortgage rate declined to 6.52 percent from 6.63 percent in the prior week.
Jul
31
Rates Drop Slightly on 30-Year Mortgages
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Jul
31
Need More Water? Dig Your Own Well
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Wealthy home owners in the Southeast are finding ways to work around water usage restrictions so they can keep their lawns lush and their pools full.
Jul
31
Home Vacancies Set Record in 2Q
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The Census Bureau says 18.6 million homes were sitting unoccupied nationwide during the second quarter.
Jul
31
Happy Birthday, Credit Crisis
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Losses suffered by all financial institutions originated through 2007 are expected to total about $925 billion, according to Moody’s Economy.com.
Jul
31
The former chair of the Federal Reserve said Fannie Mae and Freddie Mac are a “major accident waiting to happen.”
Jul
31
Freddie Mac Gives Lenders Reason to Help
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Beginning Aug. 1, Freddie is paying loan servicers $800 for each loan modification on Freddie-owned mortgages, and $2,200 for each short sale.
Jul
31
Greenspan Says Regulator Role Will Undermine Fed’s Credibility
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In an interview on CNBC, Former Federal Chairman Alan
Greenspan warned that if the Federal Reserve is given a role to
oversee the financial system it could undermine its credibility.
Greenspan said the US is facing a “once in a century
crisis.” He warned that the U.S. teeters on the brink of
recession…
Jul
31
A Loaf of Bread for Z$200 Billion? Now That’s Inflation
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Zimbabwe is the latest example of what happens when inflation spirals
out of control to the point of hyperinflation. With the highest rate of
inflation in the world - about 2.2 million per cent -
Zimbabwe last week issued a Z$100 billion note, though still not enough
to buy a loaf of bread, which is roughly double the price.
Jul
31
Speaking before the Exchequer Club of Washington, U.S. Treasury
Secretary Henry Paulson said the stimulus package has
supported the economy in the last year.
Paulson said market turmoil and energy prices have dragged on the
economy, while the labor market has softened…
Jul
31
Freddie Mac Doubles Financial Incentives to Servicers Who Help Borrowers Avoid Foreclosure
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Freddie Mac today told mortgage servicers it was
doubling the amount of money it pays for each workout
that keeps a delinquent borrower with a Freddie Mac-owned mortgage out of
foreclosure.
Freddie Mac also announced it will start reimbursing servicers for the
cost of door-to-door outreach programs, give servicers more time to
negotiate workouts in states with fast foreclosure processes, and make
administrative changes intended to streamline the workout process.
