Many concerned about impact of proposed new rule to boost mortgage down payments to 20 percent

Many concerned about impact of proposed new rule to boost mortgage down payments to 20 percent
When legislators passed the Dodd-Frank Wall Street Reform and Consumer Protection Act passed last year, they intended sweeping reform of the financial system, including unscrupulous mortgage practices responsible for the subprime meltdown.
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Obamas Made $1.7 Million in 2010 Amid 69 Percent Income Drop

Obamas Made $1.7 Million in 2010 Amid 69 Percent Income Drop
President Barack Obama and his wife, Michelle, reported $1.7 million in adjusted gross income last year and paid $453,770 in federal income taxes, according to tax returns released yesterday by the White House.
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Bank of Korea hikes key interest rate to 3 percent

Bank of Korea hikes key interest rate to 3 percent
South Korea’s central bank raised its key interest rate for the second time in three months Thursday as it steps up efforts to control inflation that has risen to its highest level in more than two years.
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In Britain: 15 percent down or no deal

In Britain: 15 percent down or no deal
LONDON, Feb. 26 (UPI) — A research firm in Britain found banks had tightened refinancing terms to the point where borrowers need at least 15 percent down to get a new loan.
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Mortgage rates rise to 4.40 percent as Treasurys rise

Mortgage rates rise to 4.40 percent as Treasurys rise
Rates on fixed mortgages edged up this week, inching further away from the lowest level in decades.
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Mortgage rates rise to 4.4 percent as Treasury yields climb

Mortgage rates rise to 4.4 percent as Treasury yields climb
Depressed levels aren’t able to repair housing market
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Inflation rises 2.4 percent

Inflation rises 2.4 percent
Consumer prices rose 2.4 percent in the 12 months to October — the largest increase in two years — Statistics Canada said Tuesday.
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Sales of new, existing homes fall 26 percent in W.Pa.

Sales of new, existing homes fall 26 percent in W.Pa.
Sales of new and existing homes fell 26.3 percent during October in the Pittsburgh region compared to a year ago, according to a report released Wednesday.
Read more on Pittsburgh Tribune-Review

Mortgage rates: 30-year fixed loans rise to 4.24 percent, near record low

Mortgage rates: 30-year fixed loans rise to 4.24 percent, near record low
WASHINGTON — Rates on 30-year fixed mortgages edged up this week to an average of 4.24 percent, still close to their lowest level in decades. The average rate for 30-year fixed loans rose from 4.
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Mortgage rates rise to 4.23 percent, near record low

Mortgage rates rise to 4.23 percent, near record low
WASHINGTON — Rates on 30-year fixed mortgages rose slightly this week to an average of 4.23 percent, just above the lowest level in decades. The average rate for 30-year fixed loans inched up from 4.21 percent the previous week, mortgage buyer Freddie Mac said Thursday.
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