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    Personal Finance Headlines
    Mortgage rates drop to lowest level since January (AP)

    New Jersey Governor Jon Corzine speaks in his office in Trenton, New Jersey December 4, 2008. Corzine said on Thursday that preventing the foreclosure of home mortgages should have been a major focus of the federal government's bailout package and must be a major priority going forward. REUTERS/Tim Shaffer (UNITED STATES)AP - Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market.


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    Thu, 04 Dec 2008 21:27:44 GMT - Yahoo! News: Personal Finance News
    Falling mortgage rates can't thaw other credit (AP)
    AP - Rates may be falling for residential mortgages and the securities backed by them, but there hasn't been a similar loosening in other strained areas of the credit markets. -- read full article
    Thu, 04 Dec 2008 22:28:05 GMT - Yahoo! News: Personal Finance News
    Kashkari: Treasury considering mortgage rate plan (AP)
    AP - The head of the government's financial system rescue effort said Thursday the Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. -- read full article
    Thu, 04 Dec 2008 22:47:09 GMT - Yahoo! News: Personal Finance News
    Mortgage plan shows increased gov't role (AP)
    AP - If you're looking for a mortgage, Uncle Sam may be the only game in town. -- read full article
    Thu, 04 Dec 2008 23:56:50 GMT - Yahoo! News: Personal Finance News
    Mexican Senate passes stricter credit rules (AP)
    AP - Mexico's Senate has approved stricter consumer credit rules, banning lending practices considered predatory. -- read full article
    Fri, 05 Dec 2008 04:21:50 GMT - Yahoo! News: Personal Finance News
    UK house prices fall at fastest rate in 16 years (AP)
    AP - House prices in Britain fell at their fastest rate in 16 years during November, the country's biggest mortgage lender said Thursday, reinforcing market expectations that the Bank of England will later cut interest rates by at least another percentage point. -- read full article
    Thu, 04 Dec 2008 10:13:38 GMT - Yahoo! News: Personal Finance News
    Toll loss narrows, shares rise sharply (Reuters)
    Reuters - Toll Brothers Inc , the largest U.S. luxury home builder, said its quarterly loss narrowed slightly as it wrote down less inventory, and its shares rose sharply as homebuilders extended a rally spurred by improved mortgage rates. -- read full article
    Thu, 04 Dec 2008 15:38:42 GMT - Yahoo! News: Personal Finance News
    Seabreeze's Kass favors U.S. stocks over Treasuries (Reuters)
    Reuters - Hedge-fund manager Doug Kass, who successfully shorted U.S. equities this year including shares of Fannie Mae and Freddie Mac , is now buying U.S. stocks on the belief that they have hit bottom. -- read full article
    Thu, 04 Dec 2008 15:57:25 GMT - Yahoo! News: Personal Finance News
    Mortgage rates drop to lowest level since January (AP)

    The Riverton Houses residential complex in Harlem, N.Y., is shown in New York, Tuesday Dec. 2, 2008. The company that owns the 1,232 unit Riverton Houses complex in Harlem said over the summer that it was in danger of defaulting on its $225 million, 10-year, interest-only mortgage. The company, Stellar Management, bought the complex in 2005 and had planned to convert more than half of its rent-regulated apartments to market rate by 2011. Tenants, however, have been reluctant to leave the pleasant development, with its long grassy mall, tree-shaded playground and marble lobbies, and local laws prevent the landlord from forcing them out or raising their rents by more than a small amount each year. (AP Photo/Bebeto Matthews)AP - Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market.


    -- read full article
    Thu, 04 Dec 2008 16:56:41 GMT - Yahoo! News: Personal Finance News
    FDIC's Bair warns investors fighting loan changes (AP)
    AP - Investors in mortgage securities who are challenging home loan modification programs aimed at avoiding foreclosures could provoke a "backlash" from Congress, the head of the FDIC said Thursday. -- read full article
    Thu, 04 Dec 2008 17:55:26 GMT - Yahoo! News: Personal Finance News
    Northern Rock extends repossessions grace period (AP)
    AP - Northern Rock, the nationalized mortgage lender, said Wednesday it would wait at least six months before moving to repossess homes when payments fall behind. -- read full article
    Wed, 03 Dec 2008 12:29:31 GMT - Yahoo! News: Personal Finance News
    Mortgage application, refinance volume surge (AP)

    The Riverton Houses residential complex in Harlem, N.Y., is shown in New York, Tuesday Dec. 2, 2008. The company that owns the 1,232 unit Riverton Houses complex in Harlem said over the summer that it was in danger of defaulting on its $225 million, 10-year, interest-only mortgage. The company, Stellar Management, bought the complex in 2005 and had planned to convert more than half of its rent-regulated apartments to market rate by 2011. Tenants, however, have been reluctant to leave the pleasant development, with its long grassy mall, tree-shaded playground and marble lobbies, and local laws prevent the landlord from forcing them out or raising their rents by more than a small amount each year. (AP Photo/Bebeto Matthews)AP - Mortgage application volume more than doubled during the shortened Thanksgiving week, according to the Mortgage Bankers Association's weekly application survey.


    -- read full article
    Wed, 03 Dec 2008 15:30:19 GMT - Yahoo! News: Personal Finance News
    Mortgage applications post largest gain ever (Reuters)

    A house sits for sale in North Aurora, Illinois in this July 24, 2008 file photo. (Jeff Haynes/Reuters)Reuters - Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday.


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    Wed, 03 Dec 2008 16:42:18 GMT - Yahoo! News: Personal Finance News
    Russia to buy out mortgages from banks (AP)
    AP - Russia's government pledged a mortgage buyout Wednesday and announced more aid for major airlines and other companies beyond an existing $200 billion financial rescue package, Russian news agencies reported. -- read full article
    Wed, 03 Dec 2008 17:14:57 GMT - Yahoo! News: Personal Finance News
    Obama says reviewing TARP, eyeing homeowner relief (Reuters)

    President-elect Barack Obama listens to a reporter's question after introducing New Mexico Governor Bill Richardson as nominee for commerce secretary during a news conference in Chicago, December 3, 2008. (Jeff Haynes/Reuters)Reuters - President-elect Barack Obama said on Wednesday he is reviewing whether taxpayers are getting maximum bang for the buck from a $700 billion government financial rescue package and indicated particular interest in helping prevent mortgage foreclosures.


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    Wed, 03 Dec 2008 17:36:33 GMT - Yahoo! News: Personal Finance News
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