FREE MORTGAGE NEWS 4U.COM by Brenda Jarvis

December 16, 2008

"And I love this idea. Congress wants to promote a car czar to oversee the auto industry. You know, even if he's half as successful as Bill Bennett was as the drug czar, oh, our problems will be solved. A car czar. What democracy has a czar?" --Jay Leno "Why is it every time we have a government crisis, we reverse to feudalism? We need a mortgage duke. A duke of mortgages. We need an energy ayatollah in this country." --       Jay Leno "Well, it looks like the automakers are going Read Full Article

October 29, 2008

Overnight rate slashed to 1 percent as central bank sees sharp slowdown The Federal Reserve has slashed a key interest rate by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades. The central bank on Wednesday reduced its target for the federal funds rate, the interest banks charge on overnight loans, to 1 percent, a low last seen in 2003-2004. The funds rate has not been lower since 1958, when Read Full Article

October 27, 2008

The still-tight credit markets are anticipating a half-point interest rate cut from the Federal Reserve this week, but investors are worried it won't be enough to quickly revive the economy.   The Fed has been slashing rates and taking unprecedented action to get market participants back in the lending mood, including launching a facility Monday to buy the short-term corporate debt known as commercial paper. But the central bank has already reduced its key rate—the Read Full Article

October 17, 2008

Report more evidence nation is struggling with a weak economy Construction of new homes plunged by a bigger-than-expected amount in September, as builders slashed production to the slowest pace since early 1991, when the country was in a deep recession. Friday’s housing report was yet another piece of evidence that the nation is struggling with a weak economy that, if the financial crisis is not solved, could dive into a sustained downturn. President Bush on Friday said in a speech Read Full Article