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Personal Finance • Mortgage rates hit low of 4.54 percent
(AP)
<p>AP - Mortgage rates dropped to the lowest level on record for the fifth time in six weeks, making homebuying and refinancing the most attractive in decades for those who can get loans.
• (AP)
AP - Mortgage rates drop to 4.54 pct., hitting lowest level on record for fifth time in six weeks.
• Mortgage lenders must register in database
(AP)
AP - Loan officers at banks will be required to provide their names and fingerprints to a national database as part of an effort to crack down on shady operators who fed the real estate bubble.
• Treasury says latest mortgage-aid report flawed
(AP)
AP - The Obama administration is revising the latest report on its troubled mortgage-relief program, and the changes are likely to show a greater number of borrowers facing foreclosure after having their loans modified.
• Goldman and Citigroup to sell $788.5 million CMBS
(Reuters)
Reuters - Goldman Sachs Group Inc and Citigroup Inc will sell a $788.5 million commercial mortgage-backed security, according to a term sheet sent to investors, in the largest deal of its kind since volume began crawling back after the financial crisis.
• Summary Box: Mortgage applications down percent
(AP)
AP - MORTGAGE APPLICATIONS DOWN: Applications for home loans fell 4.4 percent last week despite the lowest mortgage rates in decades, according to the Mortgage Bankers Association.
• Buy, Sell, or Hold Research In Motion?
(The Motley Fool)
The Motley Fool - Right now, you can't go through a list of news articles for Research In Motion (Nasdaq: RIMM - News) without seeing gloomy headlines such as "Why RIM is a Risky Investment" (TheStreet.com) and "BlackBerry's Era May Be Ending" (The New York Times). Fears of market share declines because of Apple's (Nasdaq: AAPL - News) iPhone and Google's (Nasdaq: GOOG - News) Android platform clearly have investors on edge -- and an underwhelming earnings report last quarter didn't do much to calm their nerves.
• 5 Essential Components of a Retirement Plan
(U.S. News & World Report)
U.S. News & World Report - When most people plan for retirement they think about saving and investing so they have a large nest egg to draw upon once they stop working. Investing is certainly important, but it is not the whole story. A secure retirement demands more than just a well-funded investment account. Here are five essential components of any retirement plan.
• Mortgage applications fall 4.4 percent last week
(AP)
AP - Applications for home loans fell last week despite the lowest mortgage rates in decades.
• Mortgage demand dips on rising rates
(Reuters)
<p>Reuters - U.S. home loan demand cooled last week as rising mortgage rates curbed refinancing requests that had soared to a 14-month high, the Mortgage Bankers Association said on Wednesday.
• Why You Should Invest in European Stocks
(U.S. News & World Report)
U.S. News & World Report - Much has been made of the fiscal difficulties that some European Union countries, most notably Greece, are experiencing. Less has been said about what opportunities may exist for investors interested in the countries in the EU. Dean Tenerelli, manager of the T. Rowe Price European Stock fund, says that there are many cheap opportunities in Europe. As a whole, he believes Europe is inviting for investors who are willing to look past some of the macroeconomic problems there. U.S. News caught up with Tenerelli to get his outlook for the region. Excerpts:
• How to Hedge for Uncertain Times
(The Motley Fool)
The Motley Fool - Fed Chairman Ben Bernanke recently described the economic outlook as "unusually uncertain," and that's likely an apt description of what many investors are feeling.
• Summary Box: Conference on Fannie, Freddie
(AP)
AP - CONFERENCE SCHEDULED: The Obama administration will hold a conference Aug. 17 to discuss the future of government-sponsored mortgage buyers Fannie Mae and Freddie Mac, which almost collapsed nearly two years ago.
• Treasury to hold conference on Fannie, Freddie
(AP)
AP - The Obama administration, which has been under fire for not developing a concrete plan for mortgage giants Fannie Mae and Freddie Mac, says it will hold a conference next month to discuss their future.
• US vows reform plan for Fannie Mae, Freddie Mac
(AFP)
AFP - The US Treasury on Tuesday promised a plan to reform troubled state-backed mortgage firms Fannie Mae and Freddie Mac by January, firing the starting gun on what is likely to be a rancorous debate.
• Former Northern Rock executive fined, banned
(AP)
AP - Britain's financial regulator has banned the former finance director of mortgage lender Northern Rock — the country's first major casualty of the global credit crunch — and fined him 320,000 pounds ($500,000) for misreporting figures on loan arrears.
• ResCap auction advances but hurdles remain
(Reuters)
Reuters - An auction of Ally Financial's Residential Capital has advanced into the second round, with some would-be buyers circling the assets, but a sale of the mortgage lender faces hurdles, sources familiar with the matter said.
• FTC bans 8 marketers from selling mortgage relief
(AP)
AP - Federal regulators have banned eight individuals and companies from selling mortgage-relief services, settling charges that they used false advertising to deceive homeowners facing foreclosure.
• First Person: A mortgage writer's case against the new rules
(The Newsroom)
The Newsroom - Recent Capitol Hill rhetoric about greedy lenders and a Wall Street run amok implies all mortgage lenders are thieves and scoundrels.
• Obama acknowledges economic stress not so long ago
(AP)
AP - President Barack Obama said in an interview broadcast Friday he can relate to Americans striving in the struggling economy to pay bills while saving for their children's education and their own retirement.
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