Trade deficit posts record (Reg Req'd) The country's current account, its broadest measure of trade, posted a record $195.1 billion shortfall in the first quarter.via
Fed Cuts Key Rate By Quarter-Point "Financial markets remain under considerable stress and tight credit conditions and deepening housing contractions are likely to weigh on economic growth over the next few quarters" The Federal Reserve
Manufactured homes: Fresh look at market (The Tucson Citizen) BARRINGTON, N.H. - After 15 long years, Richard Doherty made the final mortgage payment on his cheerfully cluttered manufactured home - don't call it a trailer - last month. But
Thousands of Residential Mortgage Brokers Prove Interest in Small-Balance Commercial Lending is on the Rise (SYS-CON Media) Mortgage brokers are bridging the gap between residential and commercial lending with education in an effort to take advantage of opportunities in the small-balance commercial market. While a recent study
Money market mutual fund lifeline The government is throwing an unprecedented lifeline to money market mutual funds to reassure nervous investors.read more...
IDs taken from mortgage files (The Wichita Eagle) Using personal information gleaned from the files of a now-closed Wichita mortgage company, identity thieves have applied for credit cards and instant credit at stores -- then made purchases worth
It is quiet and steady meltdown. The bubble is imploding slowly and steadily. What happened to Citi Bank, Chase, Wachovia, Merrill and others is just a tip of the iceberg. The fact is that no one knows how to price these risky mortgage securities any more.
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