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March 10, 2010
The volume of applications for U.S. mortgages rose slightly in the week, although long-term interest rates also rose, an industry group said Wednesday.The Mortgage Bankers Association said its Market Composite Index rose 0.5 percent in the week ending March 5, while the Refinancing Index dropped 1.5 percent on a seasonally adjusted basis.During the week, the average interest rate for 30-year, fixed-rate mortgages rose from 4.95 percent to 5.01 percent with points falling from 0.99 to 0.82, the organization said.
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Mar. 9--ARLINGTON, Va. -- Putting political pressure on the nation's banks, Federal Deposit Insurance Corp. Chairwoman Sheila Bair called Monday for borrowers to identify and report banks that aren't lending to consumers and small businesses. After a speech on other topics, Bair spoke about tight credit conditions in response to a question at a gathering of business economists just outside the nation's capital. "A light needs to be shined on this and explanations need to be made where credit is not being provided," Bair told members of the National Association for Business Economics.
March 9, 2010
This is what $23.5 million will buy you in Raleigh, N.C., these days: The highest-end new-home community in Wake County with 323 single-family lots once worthy of $4 million spec homes, a Tom Fazio-designed golf course with a $5 million pro shop, a 13,000-square-foot family activity clubhouse, and walking trails.
March 8, 2010
Mar. 8--In an effort to boost the state's housing market, New Jersey legislators have introduced a bill that would give home buyers an income tax credit of up to $15,000, spread over three years. "The housing industry is at an all-time low," said Sen. Paul Sarlo, a Wood-Ridge Democrat and a co-sponsor of the bill. The home-building industry has been slammed by the housing downturn.
March 8, 2010
WASHINGTON - Greece is a financial basket case, begging for international help. Many of the same risky financial practices that now imperil the Greeks were at the center of the all-too-recent U.S. meltdown.And in the U.S., as in Greece, a large portion of that debt is owed to foreign investors.
March 9, 2010
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