Bank of America profits slump in first quarter

Bank of America profits slump in first quarter
NEW YORK : Bank of America posted a below-expectation 39-percent drop in first-quarter profits Friday, as the country’s top bank continues to suffer from the US housing crisis and from legal costs.
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Mortgage Bonds Slump in U.S. as Policy Concern Trumps Analysis

Mortgage Bonds Slump in U.S. as Policy Concern Trumps Analysis
Securities guaranteed by government-supported Fannie Mae , Freddie Mac or federal agency Ginnie Mae returned 54 basis points, or 0.54 percentage point, less than U.S. debt this month, Barclays Capital index data show. It’s the worst relative performance since November 2008.
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Mortgage rates hit record low as home sales slump

Mortgage rates hit record low as home sales slump
U.S. mortgage rates have fallen to a record low, reducing borrowing costs for home buyers as sales slump after the expiration of a government tax credit. Rates for 30-year fixed loans declined to 4.69 percent this week from 4.75 percent, mortgage finance… Mortgage – United States – [...]

Mortgage approvals slump in January

Mortgage approvals slump in January
The number of mortgages approved for people buying a home dived by 17% during January as the housing market suffered a steep fall in activity, figures showed today. Related Stories Optimism at signs of export-led recovery Housing market returning to life, but not yet as we knew it Business owners need [...]