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CORRECTED-UPDATE 2-US mortgage rate drops 10th week, to record low - FXStreet.comNEW YORK, Jan 8 (Reuters) - The average interest rate on 30-year U.S. fixed-rate mortgages dropped to a 38-year low of 5.01 percent in the latest week, after the Federal Reserve launched its mammoth plan to lower home borrowing costs, Freddie Mac ... Read more...Lawmakers Reach Deal With Citigroup On Home Loans - Hartford CourantWASHINGTON - Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit. The lawmakers aim to attach the plan to ... Read more...Paulson calls for replacing Fannie/Freddie - Birmingham Business JournalOutgoing U.S. Treasury Secretary Henry Paulson reflected on the downfall and future of embattled mortgage giants Fannie Mae and Freddie Mac in a speech before the Economic Club of Washington on Wednesday. He argued that there was widespread ... Read more...Fitch Downgrades 10 Classes of Cobalt 2006-C1; Removes 3 from Watch ... - PR Insideand revises the Rating Outlooks on the following classes: --$22.2 million class E to 'BBB+' from 'A-'; Outlook Negative; --$28.5 million class F to 'BBB' from 'BBB+'; Outlook Negative; --$25.3 million class G to 'BBB-' from 'BBB'; Outlook Negative ... Read more...Obama: Congress must act boldly and now on economy - Yahoo NewsAP – President-elect Barack Obama speaks about the economy at George Mason University in Fairfax, Va., Thursday, … WASHINGTON – President-elect Barack Obama implored Congress on Thursday to "act boldly and act now" to fix an economy growing ... Read more...Banks' mortgage rates fall below 5% - Boston GlobeSAN FRANCISCO - The government's purchase of mortgage-backed securities is successfully helping to lower borrowing costs, with the largest US banks starting to offer home loans with fixed interest rates below 5 percent. JPMorgan Chase & Co. is ... Read more...Citigroup gives courts big say on mortgage reductions - Los Angeles TimesSenate Majority Leader Harry Reid of Las Vegas, second from left, speaks at a news conference in Washington. He is joined by Sens. Charles E. Schumer (D-N.Y.) , left, Patty Murray (D-Wash.) and Richard J. Durbin (D-Ill.). Citigroup is now backing ... Read more... |
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