Top News Headlines from Mortgage News Daily
Preview: Pending Home Sales to Fall for Third Straight Month
The U.S. housing market continues to struggle as prices fall, demand weakens, and inventories build up. An industry index set for release on Tuesday is expected to show that contracts for homes on the market continued to fall in November, suggesting that...(read more)
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Office Vacancies Soaring, Rents Falling in Major Cities
Some months ago we speculated that the sector of the economy to fall out of the sky would be retail real estate as the proliferation of shopping malls and small strip centers ran headlong into what at that time appeared to be a looming wave of retail...(read more)
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Construction Spending Continues its Decline in November
Construction spending in the United States continued to decline in November, falling by 0.6% month-over-month, according to the U.S. Department of Commerce. The consensus had forecast construction spending in November to decline by 1.4%. The total construction...(read more)
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New York Fed Begins MBS Purchase Program
As promised, the New York Fed plans to begin buying U.S. mortgage and student debt effective immediately, in a move geared at thawing frozen credit markets in the country and restore confidence of the economy. "This program, first announced on November...(read more)
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Treasury Announces Guidelines for Gov't Rescue of Financial Firms
The U.S. Treasury announced guidelines for dealing with financial institutions in need of rescue. The details are based on the Nov. 23 decision to loan $5 billion to Citigroup. The Treasury said eligibility for the program will be considered on a case...(read more)
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From CNN and Money magazine, CNNMoney.com combines business news and in-depth market analysis with practical advice and answers to personal finance questions.
Consumer bankruptcies jump in 2008
Bankruptcy filings by American consumers increased nearly a third in 2008, according to a new report.
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Mother (and father), can you spare a dime?
I could not have bought my first house long ago without borrowing the down payment from Mom and Dad. Their loan got me started down the home-equity path, and it's paid dividends ever since.
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Macy's reports overcharging customers
Some Macy's stores overcharged holiday shoppers who used debit cards to make purchases on one of the busiest shopping days of the year.
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Battle of the iPhone clones
The iPhone is no longer the only touchscreen 'smart phone' in town. But are the challengers a better value?
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Yet another thing to worry about: Taxes
Can things get any worse for fund investors? Apparently so. You already know what a terrible year 2008 was for your stock funds. Through Nov. 21, domestic equity funds fell 48% on average, while their foreign counterparts did even worse - dropping 54%. But it's not just that the average fund lost around half its value. Every single stock fund was down for the year, according to Morningstar.
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Life after a six-figure salary
Happy new year and welcome to your new job. One that pays 30%, 50%, 70% less than your old one.
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Keeping wealth in the family
Lisa and Bruce Brown are fortunate enough to have plenty of assets to protect. Foremost of these is their children: The Browns are the proud parents of four-year-old Emma, and they have another baby on the way. The Oakland couple also have considerable assets of the financial variety. Thanks to diligent saving and smart property investments, the Browns have a net worth of nearly $2 million.
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From CNN and Money magazine, CNNMoney.com combines business news and in-depth market analysis with practical advice and answers to personal finance questions.
Stocks finish lower
Stocks fell Monday, retreating after last week's big rally, as investors digested President-elect Barack Obama's stimulus plan, monthly auto sales and surging oil prices.
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Long-term Treasurys tumble
Long-term government debt prices tumbled for the second session in a row Monday as investors shifted into riskier bonds and as President-elect Barack Obama pitched his stimulus package to both houses of Congress.
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Congress looks for answers in Madoff scandal
Lawmakers took a hard look at the alleged $50 billion investment scam engineered by Bernard Madoff Monday, and one key Congressman vowed to take action to shake up the regulation of the nation's financial system.
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Gold sinks to 2-week low
The price of gold fell to a two-week low Monday as the U.S. dollar rallied on new details about President-elect Barack Obama's fiscal stimulus plan.
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Oil up 38% since Christmas
Oil prices soared again Monday - moving closer to the $50 mark - as the movement of Israeli forces into the Gaza Strip this weekend added to worries about Middle East supply disruption.
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Dollar soars against euro
The dollar rose sharply against major currencies Monday ahead of anticipated interest rate cuts by the European Central Bank.
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Tax cuts: Pillows for a hard landing
So it looks like about 40% of President-elect Barack Obama's stimulus plan will come in the form of tax cuts.
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From CNN and Money magazine, CNNMoney.com combines business news and in-depth market analysis with practical advice and answers to personal finance questions.
Treasury invests $15B more in banks
The Treasury Department said Monday it had invested $15 billion in another seven banks, including two companies that recently completed large takeovers of other banks.
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FBI goes on massive hiring blitz
Despite a bleak economic environment featuring wide-ranging layoffs and rising unemployment, the nation's premier law enforcement agency is touting "one of the largest hiring blitzes in our 100-year history."
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Obama: $300 billion in tax cuts
President-elect Barack Obama launched his campaign Monday for a massive package of tax cuts and spending proposals aimed at reviving an economy mired in recession.
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Consumer bankruptcies jump in 2008
Bankruptcy filings by American consumers increased nearly a third in 2008, according to a new report.
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Stocks finish lower
Stocks fell Monday, retreating after last week's big rally, as investors digested President-elect Barack Obama's stimulus plan, monthly auto sales and surging oil prices.
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Sharp drop in small business loans
The credit freeze afflicting America's small businesses shows no signs of thawing. In the last three months of 2008, the Small Business Administration's flagship loan-guarantee program backed less than half the number of loans it approved a year earlier - a sign that fewer entrepreneurs are getting financing to start or expand their ventures.
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Gold sinks to 2-week low
The price of gold fell to a two-week low Monday as the U.S. dollar rallied on new details about President-elect Barack Obama's fiscal stimulus plan.
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