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Scandal to Cost US Mortgage Agencies USD $3B
Internal government documents have shed light on the manipulation of the global interest rate referred to as the Libor in a scandal ensnaring several large banks is now believed to have caused a USD $3 billion to mortgage finance giants Fannie Mae and Freddie Mac. US, UK and Swiss authorities have alleged a vast conspiracy…
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American International Group, Inc. (NYSE:AIG) Adds Home-Loan Insurance Business; Rival CEO Says it Makes No Sense
This article covers some of the hot topics and today’s headlines including; home loans, mortgage rates, agriculture, jobless claims, earnings, the technology sector and oil prices. Home Loans The number of older Americans who have lost their homes has already reached nearly 1.5 million. Millions more are facing home losses as the national housing crisis…
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Facebook Inc (NASDAQ:FB) Founder Mark Zuckerberg Provides New Meaning To The Phrase “The one percent”
Mark Zuckerberg, who is a web entrepreneur of Facebook Inc (NASDAQ:FB) and one of the world’s youngest billionaires, came up with a new meaning to the phrase the one percent. The term was popularized in 2011 when the Occupy Wall Street movement used it to protest growing U.S. income inequality. The Facebook Inc. founder has…
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U.S. Mortgage Rates Fall: 30-Year Loan Hits Lowest Level Since 1971
U.S. mortgage rates have moved down, with 30-year loans hitting the lowest level on record for a fourth straight week, along with signs of growth in the housing market. The 30-year fixed-rate mortgage average decreased to 3.56 percent in the week ending July 12 from 4.08 percent in March and 3.62 percent last week. This…