Business : Real Estate
AP - Mortgage rates mostly edged up last week as investors' fears about the economy eased.
FDIC's Bair warns of government "exposure" in mortgages (Reuters)Reuters - A key U.S. banking regulator raised concern on Wednesday about the risk of "exposure" the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.
SEC defends $75 million deal with Citigroup (AP)AP - The government is defending as "fair and adequate" its $75 million settlement with Citigroup Inc. over charges it misled investors about billions in potential losses from subprime mortgages.
Detroit gets rare assist from suburbs for fires (AP)
AP - As exhausted Detroit firefighters battled wind-fed blazes burning wild in some neighborhoods and threatening to char much of the city, a half-dozen departments from surrounding communities brought in sorely needed — and gladly accepted — help.
Reuters - The federal government should take mortgage finance giants Fannie Mae and Freddie Mac off life support sooner rather than later, the Mortgage Bankers Association urged on Wednesday.
Freddie Mac to issue new 5-year note due 2015 (AP)AP - Government sponsored mortgage buyer Freddie Mac said Wednesday it plans to issue new five-year notes due on Sept. 10, 2015.
Summary Box: Mortgage lending falls 1.5 pct (AP)AP - MORTGAGE APPLICATIONS SLIP: Applications for home loans dipped last week as mortgage rates ticked up slightly from the lowest level in decades, according to the Mortgage Bankers Association.
Economists further scale back U.S. growth outlook (Reuters)
Reuters - Stubbornly high unemployment and signs of persistent weakness in the housing market have prompted economists to further cut their outlook for U.S. growth in the second half of the year, a Reuters poll showed on Wednesday.
AP - Applications for home loans dipped last week as mortgage rates ticked up slightly from the lowest level in decades.
Home buying up in week, but down 40 percent in year (Reuters)
Reuters - Americans applied to buy homes at the highest pace last week since May, but more than 8 of every 10 loan requests was for a refinancing, Mortgage Bankers Association data show on Wednesday.
