FREE MORTGAGE NEWS 4U.COM by Brenda Jarvis

December 5, 2008

Worst month since December 1974 brings total this year to 1.9 million Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession. The new figures, released by the Labor Department Friday, showed the crucial employment market deteriorating at an alarmingly rapid clip, and handed Americans some more grim news right before the holidays. As companies throttled Read Full Article

December 1, 2008

Fed chief says there are other ways agency may bolster economic activity Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are “certainly feasible,” but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year. The Fed’s key interest rate now stands at 1 percent, a level seen only once before in the last half-century. To help lift the country out of a recession that started in December of Read Full Article

November 25, 2008

Paulson: Programs aimed at getting lending to more normal levels The government, still struggling to manage a severe financial crisis, unveiled two new programs Tuesday that will provide $800 billion to try to help unfreeze the market for consumer debt from home mortgages to credit cards. The announcements by the Federal Reserve and the Treasury Department represented the latest modifications to the largest government bailout in history, a program designed to keep the troubled 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

October 8, 2008

Move is to handle the worst financial crisis since 1929 stock market crash WASHINGTON - The Federal Reserve, acting in coordination with other global central banking authorities, cut a key U.S. interest rate by half a percentage point Wednesday to steady an economy teetering on a collapse reminiscent of the 1929 stock market crash. Fed Chairman Ben Bernanke and his colleagues ratcheted down their key rate by 0.5 percentage point to 1.5 percent. The action revives the central bank’s Read Full Article

October 3, 2008

White House promises quick enactment for massive Wall Street rescue The House passed a $700 billion bailout of the financial services industry Friday, reversing itself after members who voted to kill the measure earlier in the week came around to a Senate version that offered more protection for individual investors and small businesses. Stocks were up sharply in anticipation that the measure could help thaw frozen credit markets. After a week of reversals and intense lobbying, the Read Full Article