For some homebuyers, mortgage market woes hit home (The Journal News) As mortgage companies are shaken by changes in the credit markets this summer, some homebuyers in the Lower Hudson Valley are facing rude and sometimes painful surprises.read more...
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Mortgage rates hold steady (Philadelphia Daily News) Rates on 30-year mortgages, after rising for the first time in five weeks, edged down slightly this week. Mortgage-giant Freddie Mac reported yesterday that 30-year, fixed-rate mortgages dipped to 6.36
53 years fills the bill for Jefferis Gas was only about a 20 cents a gallon when Bill Jefferis opened his auto parts outlet in Ontario back in 1952.via
Fed to flex its mortgage-relief muscle (MSNBC) The Federal Reserve is finalizing a far-reaching mortgage proposal that would ban certain lending practices and apply to the lightly regulated subprime mortgage specialists.read more...
Hampton Roads faces tough real estate market "We have a lot more listings on the market now" Reported by: Sula Kim Thousands of homes in Hampton Roads are on the market, and experts say they're staying
“If the crisis had not been triggered by a mispricing of securitized U.S. subprime mortgages, it would eventually have erupted in some other sector or market”
By Emily Kaiser
WASHINGTON (Reuters) – An unusually high degree of risk taking across asset classes made recent financial market turmoil all but inevitable, former Federal Reserve Chairman Alan Greenspan said on Sunday.
“The financial crisis that erupted on August 9 was an accident waiting to happen,” Greenspan said in a speech on the sidelines of the International Monetary Fund and World Bank meetings. “Credit spreads across all global asset classes had become suppressed to clearly unsustainable levels.” Read more
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