| U.S. Economy Headlines |
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| Mortgage applications slowest since 2000: MBA
(Reuters)
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| Reuters - Applications for U.S. home mortgages
dropped to their slowest pace since December 2000 as loan rates
hovering near one-year highs compounded the housing market's
woes, according to data from an industry group on Wednesday. -- read full article |
| Wed, 30 Jul 2008 11:04:28 GMT - Yahoo! News: Economy News |
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| Covered Bonds: What the Paulson Plan Means for You
(BusinessWeek Online)
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| BusinessWeek Online - Treasury Secretary Henry Paulson announced a plan on Monday to encourage banks to issue a new form of debt known as a covered bond. Paulson said that if investors buy enough of these bonds, which are generally considered safer than many of the risky mortgage-backed securities that proliferated during the housing boom, banks will feel more comfortable financing mortgages again. That, along with various other measures, could restart the stalled housing market, Paulson said. ... -- read full article |
| Wed, 30 Jul 2008 12:08:41 GMT - Yahoo! News: Economy News |
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| Fed takes steps to break through credit clogs
(AP)
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| AP - Focused on getting the nation's credit gears smoothly working again, the Federal Reserve is letting Wall Street firms draw emergency loans into next year and giving financial companies more options to help them overcome credit problems.
-- read full article |
| Wed, 30 Jul 2008 17:25:46 GMT - Yahoo! News: Economy News |
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| NY gov. seeks hiring freeze, spending cuts
(AP)
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| AP - Gov. David Paterson said Wednesday he wants to freeze hiring and cut state spending by an additional 7 percent to shore up a state economy that his budget director said is officially in recession.
-- read full article |
| Wed, 30 Jul 2008 17:26:30 GMT - Yahoo! News: Economy News |
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| Obama assures Bernanke he supports Fed independence
(Reuters)
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| Reuters - Democratic presidential candidate
Barack Obama discussed the risk of further U.S. economic
deterioration with Federal Reserve Chairman Ben Bernanke on
Tuesday and made clear his respect for the Fed's independence,
the senator's spokesman said.
-- read full article |
| Tue, 29 Jul 2008 20:39:18 GMT - Yahoo! News: Economy News |
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| July auto sales expected to keep downward trend
(AP)
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| AP - Take automakers' inability to finance leases, combined with gas prices, the weak economy and other problems facing the industry, and you have the makings of what could be one of the worst months for auto sales in more than 15 years. -- read full article |
| Tue, 29 Jul 2008 21:36:06 GMT - Yahoo! News: Economy News |
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| Stocks soar after another drop in oil prices
(AP)
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| AP - Wall Street shot higher Tuesday, gaining back the previous session's sharp losses and then some, after a drop in oil prices and a rise in consumer confidence gave investors some hope for a letup in Americans' financial woes. The Dow Jones industrial average rose 266 points.
-- read full article |
| Tue, 29 Jul 2008 21:45:11 GMT - Yahoo! News: Economy News |
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| Home prices fell at record pace in May: S&P
(Reuters)
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| Reuters - Prices of U.S. single-family homes
plunged at a record pace in May from a year earlier, with each
of the 20 regions monitored showing annual declines for a
second month, according to the Standard & Poor's/Case Shiller
home price indexes reported on Tuesday.
-- read full article |
| Tue, 29 Jul 2008 13:58:19 GMT - Yahoo! News: Economy News |
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