International Business News - FNM http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Mortgage rates shot up this week with 30-year mortgages climbing to the highest level in nearly a year, reflecting concerns in financial markets about the troubles at corporate giants Fannie Mae and Freddie Mac. http://www.ibtimes.com/articles/20080724/all-types-of-mortgages-see-rate-increases.htm Thu, 24 Jul 2008 14:51:13 EDT Having investment banks follow the same rules as commercial banks would hurt the U.S. financial system and drive risk-taking business outside of government oversight, the head of the Securities and Exchange Commission said Thursday. http://www.ibtimes.com/articles/20080724/secs-cox-says-investment-banks-play-unique-role.htm Thu, 24 Jul 2008 14:26:51 EDT Sales of existing homes fell more sharply than expected in June as the housing industry continued to be bruised by the worst slump in more than two decades. http://www.ibtimes.com/data/articleimgs/97109-economy-home-sales.jpg http://www.ibtimes.com/articles/20080724/existing-home-sales-fall-2-6-percent-in-june.htm http://www.ibtimes.com/articles/20080724/existing-home-sales-fall-2-6-percent-in-june.htm Thu, 24 Jul 2008 13:14:24 EDT Chinese shares rose Thursday, led by gains in real estate and financial stocks on optimism that lower oil prices might ease inflation pressure and improve the economy's outlook in the second half. http://www.ibtimes.com/articles/20080724/china-shares-rise-led-by-real-estate.htm Thu, 24 Jul 2008 07:49:59 EDT An industry group's report on sales of existing homes will likely show sales resumed falling in June after a slight rebound in May. The National Association of Realtors' report on sales of existing homes is scheduled for release at 10 a.m. EDT on Thursday. http://www.ibtimes.com/articles/20080724/ahead-of-the-bell-existing-home-sales.htm Thu, 24 Jul 2008 06:19:15 EDT Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac. http://www.ibtimes.com/data/articleimgs/96859-congress-housing.jpg http://www.ibtimes.com/articles/20080724/house-oks-rescue-for-homeowners-freddie-fannie.htm http://www.ibtimes.com/articles/20080724/house-oks-rescue-for-homeowners-freddie-fannie.htm Thu, 24 Jul 2008 02:20:16 EDT Cash-strapped homebuyers and borrowers facing foreclosure will get some relief from a housing bill passed by the House on Wednesday but the bill won't solve the deep-rooted ills of the U.S. housing market. http://www.ibtimes.com/data/articleimgs/96807-congress-housing.jpg http://www.ibtimes.com/articles/20080724/housing-bill-wont-solve-markets-problems.htm http://www.ibtimes.com/articles/20080724/housing-bill-wont-solve-markets-problems.htm Thu, 24 Jul 2008 02:03:08 EDT House OKs rescue for homeowners, Freddie, Fannie WASHINGTON (AP)--Rescue legislation sailed through the House Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing. http://www.ibtimes.com/articles/20080723/business-highlights.htm Wed, 23 Jul 2008 19:05:55 EDT The 272-152 roll call Wednesday by which the House passed a bill that aims to help homeowners facing foreclosure and to prevent mortgage giants Fannie Mae and Freddie Mac from collapsing. http://www.ibtimes.com/articles/20080723/how-they-voted-house-roll-call-on-housing-bill.htm Wed, 23 Jul 2008 18:04:54 EDT Cash-strapped homebuyers and borrowers facing foreclosure will get some relief from a housing bill passed by the House on Wednesday but the bill won't solve the deep-rooted ills of the U.S. housing market. http://www.ibtimes.com/articles/20080723/housing-bill-wont-solve-markets-problems.htm Wed, 23 Jul 2008 23:00:28 EDT The housing bill Congress is preparing to send President Bush would: _Give the Federal Housing Administration $300 billion in new lending authority and relax standards to provide affordable, fixed-rate mortgages to debt-ridden homeowners. Any losses would be covered by an affordable housing fund financed by Fannie Mae and Freddie Mac, the government-sponsored companies that finance mortgages. http://www.ibtimes.com/articles/20080723/a-look-at-key-parts-of-congressional-housing-bill.htm Wed, 23 Jul 2008 15:34:21 EDT Commodities extended their slide Wednesday as crude oil fell below $125 a barrel, dragging down gold, soybeans, wheat and other hard assets as traders shifted money into equities. http://www.ibtimes.com/articles/20080723/commodities-turn-lower-for-2nd-day-on-crude-drop.htm Wed, 23 Jul 2008 17:01:15 EDT Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market: NYSE http://www.ibtimes.com/articles/20080723/costco-at-t-mcdonalds-wamu-fannie-big-movers.htm Wed, 23 Jul 2008 18:18:51 EDT Treasury Secretary Henry Paulson said Wednesday that agreement on a sweeping housing rescue bill will send a strong message to investors around the world and will be key to helping the nation turn the corner on the housing crisis. http://www.ibtimes.com/articles/20080723/treasury-secretary-praises-agreement-on-housing.htm Wed, 23 Jul 2008 16:07:08 EDT A federal rescue of Fannie Mae and Freddie Mac could cost taxpayers $25 billion, congressional budget experts said, as the House scheduled a Wednesday vote on legislation that would tap the mortgage giants' profits to cover any losses from saving 400,000 homeowners from foreclosure. http://www.ibtimes.com/articles/20080723/rescue-of-mortgage-giants-could-hit-25-billion.htm Wed, 23 Jul 2008 09:49:13 EDT Stocks advanced for the second straight session Wednesday as another decline in oil prices and several upbeat profit reports eased some of Wall Street's concerns about the economy. http://www.ibtimes.com/data/articleimgs/96218-wall-street.jpg http://www.ibtimes.com/articles/20080723/stock-futures-head-to-higher-open.htm http://www.ibtimes.com/articles/20080723/stock-futures-head-to-higher-open.htm Wed, 23 Jul 2008 18:08:20 EDT Industry data to be released Wednesday will show whether home loan applications continued to rise as mortgage rates fell last week. The Mortgage Bankers Association is scheduled to report its index of mortgage application volume for the week ended July 18 at 7 a.m. EDT. http://www.ibtimes.com/articles/20080723/ahead-of-the-bell-mortgage-applications.htm Wed, 23 Jul 2008 06:05:19 EDT Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac. http://www.ibtimes.com/data/articleimgs/96374-foreclosures.jpg http://www.ibtimes.com/articles/20080723/house-vote-wednesday-foreclosure-rescue.htm http://www.ibtimes.com/articles/20080723/house-vote-wednesday-foreclosure-rescue.htm Wed, 23 Jul 2008 22:23:55 EDT Retail brokerage firm E-Trade Financial Corp. said Tuesday it swung to a loss during the second quarter due to a sharp increase in loan-loss provisions. http://www.ibtimes.com/articles/20080722/e-trade-swings-to-loss-in-2q.htm Tue, 22 Jul 2008 17:00:56 EDT Behind their down-home names, Fannie Mae and Freddie Mac are so vital to the economy that the government scrambled to offer them a lifeline. But what exactly are they, and what do they do? http://www.ibtimes.com/articles/20080722/fannie-and-freddie-getting-to-know-powerful-pair.htm Tue, 22 Jul 2008 17:36:34 EDT