|
Real Estate News |
|
Yahoo! News: Business - Real Estate
|
Business - Real Estate
|
|
FBI probe latest setback for beleaguered Detroit
(AP)
 AP - Auto industry cutbacks, double-digit unemployment and one of the nation's highest home foreclosure rates have left Detroit with a dreary economic future.
TPG pulls out of Bradford & Bingley plan
(AP)
AP - Bradford & Bingley PLC said Friday it is revising its plans to raise new capital after U.S. private equity fund Texas Pacific Group pulled out of its agreement to invest more than $350 million in the mortgage banker.
Subprime-hit UBS says could break even second quarter
(AFP)
 AFP - Swiss banking giant UBS, hit hard by the subprime crisis, on Friday said it would break even or report a slight loss for its second quarter thanks to a substantial tax credit.
IBD's Top 10 - Thursday
(Investor's Business Daily)
Investor's Business Daily - 1 The 6th straight monthly payrolls drop was in line with forecasts, though April and May payrolls were revised lower. That bodes ill for the economy, but recessions typically have bigger job cuts. Unemployment stayed at 5.5%, defying forecasts for a dip after May's spike. Factories and home builders slashed staff. Rising jobless claims signal more job losses ahead.
Economy - Thursday
(Investor's Business Daily)
Investor's Business Daily - The benchmark 30-year fixed home loan rate fell 10 basis points to 6.35%, ending a 5-week uptrend to a 9-month peak, mortgage finance giant Freddie Mac said. Weaker economic data made a Fed rate hike less likely, pushing Treasury yields and mortgage rates lower. The 15-year fixed-rate mortgage slid 12 ticks to 5.92%. The 1-year ARM fell 10 basis points to 5.17%.
|
|
