To the list of economic woes squeezing small banks, add another one: government bailout loans. The Treasury Department’s bailout program was designed with Wall Street megabanks in mind, according to a new watchdog report. The “one-size-fits-all” program may actually be hurting small banks that are struggling to repay the money or even deliver quarterly dividend [...]
Home loan applications jumped by 7 percent last week as consumers raced to mainly refinance their current loans at some of the lowest rates since records started being kept, the Mortgage Bankers Association reported. Residential home builders are up across the board, with the Philadelphia Housing Sector Index up 1.97 percent.
US 30-year mortgage rates dropped to a new record low in the past week, according to a survey released on Thursday by Freddie Mac FMCC.OB, as concerns mounted about the economic recovery. Attractive mortgage rates have raised demand for home refinancing loans in recent weeks. They have failed to increase appetite for mortgages to purchase [...]
(Reuters) – Single-family home prices unexpectedly climbed in April from March, driven by a final sales push before tax credits expired, but signs of a sustained recovery have yet to emerge, Standard & Poor’s/Case Shiller home price indexes showed on Tuesday. “Inventory data and foreclosure activity have not shown any signs of improvement,” David Blitzer, [...]
WASHINGTON — President Barack Obama is helping raise money for Sen. Barbara Boxer’s re-election campaign, his second trip to California in as many months to assist the imperiled incumbent. Obama was to appear at two fundraisers Tuesday night in San Francisco with the liberal Boxer, who is seeking her fourth-term. Though she easily won her [...]
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