Mortgage and Financial News From 2008-1-24 Page 16

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  • Asian Stocks Climb on U.S. Economic Stimulus Plan; Canon Gains (Bloomberg.com)

    Jan. 25 (Bloomberg) -- Asian stocks advanced, led by technology companies and miners, after U.S. lawmakers agreed on a plan to boost spending and South Korea's economy grew faster than economists had expected.
    2008-01-24 06:17:39
  • Bush: Stimulus provides 'insurance policy' (USA Today)

    President Bush told USA TODAY Thursday that a stimulus package of individual refunds and business tax cuts, hastily negotiated between the White House and Congress, should provide "an insurance policy" to keep an uneasy economy from tipping into recession.
    2008-01-24 06:21:36
  • ICBC eyes more foreign banks (China Daily)

    Industrial and Commercial Bank of China (ICBC), the mainland's largest bank, is prepared to acquire more foreign banks, possibly this year, a senior executive said.
    2008-01-24 06:27:03
  • Economic stimulus plan has 3-pronged attack (USA Today)

    Many families could see tax rebate checks of $1,200 or more by late spring or early summer. Businesses would get financial incentives for new investment. Strapped borrowers and lenders could find it easier to get mortgages or refinance. The roughly $150 billion stimulus package announced by the White House and the bipartisan House leadership Thursday contains a tight list of targeted incentives ...
    2008-01-24 06:32:36
  • Home sales plummeted 13% in 2007 (USA Today)

    The most severe real estate recession in a generation sent sales of existing homes plunging 12.8% last year steepest annual dive in 25 years and the median U.S. home price fell, probably for the first year since the Great Depression, the National Association of Realtors said Thursday.
    2008-01-24 06:36:28
  • Expansion of conforming loan limit 'way overdue for California' (San Diego Daily Transcript via Yahoo! News)

    A component of the government's tentative economic stimulus package announced Thursday would give an immediate lift to buyers and sellers in higher-priced housing markets.
    2008-01-24 06:36:44
  • Slump in new mortgages foretells housing market woe (Guardian Unlimited)

    Mortgage approvals slump signals grim times ahead for the weakening property market
    2008-01-24 06:36:45
  • December's South Florida housing market worst in 30 years (Sun-Sentinel)

    December capped the worst year for South Florida's housing market in at least three decades and put the lingering slump at 24 months and counting.
    2008-01-24 06:54:46
  • BRIAN DICKERSON: Only one way to stop the bleeding (Detroit Free Press)

    Enough.
    2008-01-24 07:13:19
  • Fed unaware of SocGen loss before rate cut-CNBC

    Forbes - NEW YORK (Reuters) - The Federal Reserve was not aware of a $7 billion loss at French bank Societe Generale before the Fed decided on an emergency interest rate cut Tuesday, CNBC television reported Thursday, citing an unidentified source at the U.S ...
    2008-01-24 10:14:00
  • Gold Tops $900 in N.Y. on Interest-Rate Outlook, Equity Rebound

    Bloomberg - Jan. 24 (Bloomberg) -- Gold topped $900 an ounce for the first time in a week after global equities rallied on speculation the Federal Reserve will further reduce U.S. borrowing costs to avoid a recession. Interest-rate futures indicated an 80 ...
    2008-01-24 08:27:00
  • SocGen raises questions over Fed rate cut

    Financial Times - The Federal Reserve had no inkling about Société Générale’s firesale of stock futures following the discovery of a rogue trader when the US central bank made its emergency interest rate cut. The question being asked by some in the markets is ...
    2008-01-24 12:23:00
  • Canada Lowers Growth Forecast, Signals More Rate Cuts (Update3)

    Bloomberg - Jan. 24 (Bloomberg) -- The Bank of Canada lowered its growth forecast because of weak export demand from the U.S. and said it will probably cut interest rates again this year. Gross domestic product will expand 1.8 percent in 2008, the central bank ...
    2008-01-24 10:36:00
  • UPDATE 1-Fed says unaware of SocGen losses before rate cut

    Forbes - WASHINGTON (Reuters) - The Federal Reserve was not aware of a rogue trader scandal costing French bank Societe Generale more than $7 billion in losses when the U.S. central bank decided on an emergency interest rate cut this week, a Fed source said ...
    2008-01-24 11:40:00
  • Gold, agricultural futures surge on expected Fed rate cut, equities ...

    Minneapolis Star Tribune - Commodities prices climbed broadly Thursday as expectations of another U.S. interest rate cut and rebounding global equities markets boosted investors' appetite for gold, grains and other hard assets. The Federal Reserve meets next week and investors ...
    2008-01-24 09:53:00