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Mortgage rates drop to 37-year low (Reuters)
Reuters - Interest rates on U.S. 30-year fixed-rate mortgages dropped for a ninth consecutive week, reaching their lowest level in 37 years, according to a survey released on Wednesday by home funding company Freddie Mac.

Wall St closes out worst year since Depression (Reuters)

Trader Robert Vella makes an entry in his portable computer on an almost empty trading floor after the opening bell at the New York Stock Exchange in New York, December 31, 2008. (Ray Stubblebine/Reuters)Reuters - Wall Street closed out its worst year since the Great Depression on Wednesday after an unstoppable credit crisis and a dreadful economic outlook left investors questioning their faith in stock markets.


Mortgage applications remain at 5-year highs (AP)

For sale boards are seen on properties in central London, Jan. 2, 2009. House prices in Britain fell in 2008 at their fastest rate for at least 25 years, the country's biggest mortgage lender said Friday, further stoking market expectations that the Bank of England will cut borrowing costs further next week. (AP Photo/Tom Hevezi)AP - Mortgage applications remained at their highest level in more than five years last week, as borrowers took advantage of attractive rates and rushed to refinance their home loans.


Plan B for retirees who counted on home equity (AP)
AP - The safety net is almost gone, the nest egg is cracking.

FDIC says it will sell IndyMac (Reuters)

An IndyMac Bank branch is seen in Glendale, California July 17, 2008. (Phil McCarten/Reuters)Reuters - The Federal Deposit Insurance Corp, in a statement on its Website, says it signed a letter of intent to sell Indymac Federal bank operations to thrift holding company controlled by IMB Management Holdings LP.


Mortgage crisis spurs tougher rules for brokers (AP)

Shirley Webster, president of the Greater Citizens Coalition of Martindale-Brightwood, tours the Brightwood neighborhood on the near north side of Indianapolis, Tuesday, Dec. 16, 2008. The area has a problem with vacant homes, many of the homes have been stripped of their pipes and the home pose a danger to the students in a nearby elementary school. (AP Photo/Michael Conroy)AP - Becoming a mortgage broker in Indiana used to be easy. Too easy.


Street looks to '09 with relief after terrible '08 (AP)

Igor Lerner, left, and Dilip Patel, both specialist traders for Bear Wagner, work from their post during early activity on the floor of the New York Stock Exchange, Wednesday Dec. 31, 2008. Wall Street showed a modest advance in the final session of a dreadful year as investors took some comfort from a sharp drop. (AP Photos/Bebeto Matthews)AP - The last trading day of 2008 on Wall Street provided a merciful end to an abysmal year — the worst since the Great Depression, wiping out $6.9 trillion in stock market wealth. Six years of stock gains disappeared as the economy crumbled and markets crashed around the globe, shaking the confidence of professional and individual investors alike.


Mortgage rates fall to third straight record low (AP)

For sale boards are seen on properties in central London, Jan. 2, 2009. House prices in Britain fell in 2008 at their fastest rate for at least 25 years, the country's biggest mortgage lender said Friday, further stoking market expectations that the Bank of England will cut borrowing costs further next week. (AP Photo/Tom Hevezi)AP - Rates on 30-year mortgages fell to a record low for the third straight week and borrowers took advantage of the drop, sending new applications soaring.


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