War on mortgage scams (Chicago Tribune) Hearing tearful pleas for justice, state and local officials on Wednesday announced a new campaign to combat the growing crime of mortgage fraud.read more...
Stocks to Tune in to Fed and Jobs Investors are likely to remain slightly nervous next week with another rate increase expected from the Federal Reserve The Federal Open Market Committee Wall Street's top investment banks expect the
KB Home to sell mortgage business to Countrywide (bizjournals.com via Yahoo! Finance) KB Home, the largest homebuilder in Central Texas, is selling nearly all the assets of its mortgage business to Countrywidevia
House Mortgage Bill Faces Tougher Future (AP via Yahoo! Finance) A House bill aimed at protecting borrowers from abusive home loans faces a tougher future in the Senate amid opposition by the mortgage industry and criticism from the White
Florida Tourism Numbers Are Up TALLAHASSEE | The weak dollar may be helping Florida's economy as state tourism officials Thursday touted increases in visitors for the first three months of this year. more»
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Obama gives Bernanke vote of confidence Presidential candidate Barack Obama gave a vote of confidence to Federal Reserve Chairman Ben Bernanke, saying he had made some good decisions in difficult circumstances.read more...
“It’s partially an excuse to take profits, but there are also some legitimate concerns that if bond yields get high enough, they will present an attractive alternative to stocks, and that higher interest rates will reduce private equity activity”
Stocks skidded lower Tuesday, as rising bond yields cemented the belief on Wall Street that the Federal Reserve won’t lower interest rates anytime soon.
High rates make mortgages more expensive for home buyers, and could slow down corporate deal-making. Surging takeover activity had helped boost the stock market to record levels until a week ago, when the benchmark 10-year Treasury note’s yield passed 5 percent and began unnerving investors.
Investors on Tuesday kept their eye on the 10-year yield, which was at 5.21 percent in midday trading up from 5.16 percent late Monday, but still below 5.25 percent, a level it has not traded above consistently since 2002.
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