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U.S. mortgage rates fall to record low: Freddie Mac

Reuters - Thu Dec 3, 11:42 am ET

U.S. mortgage rates dropped to a record low in the latest week, as rates fell for a fifth straight week, a closely watched mortgage survey showed Thursday.

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Dubai Loses ‘Sovereign Halo’ as $3.5 Billion Nakheel Debt Looms
Bloomberg - 12 minutes ago
Dec. 4 (Bloomberg) -- Sheikh Mohammed bin Rashid Al Maktoum wanted to turn Dubai into a global hub for finance and tourism, the next London or Hong Kong. To help execute his vision, the ruler relied heavily on Dubai World, the web of state-owned companies that includes everything from DP World , which operates 49 ports across the globe, to property developer Nakheel to investment arm Istithmar ...
European, Asian Stocks Decline; U.S. Stock-Index Futures Gain
Bloomberg - 13 minutes ago
Dec. 4 (Bloomberg) -- European stocks fell for a second day, tracking losses in Asia, before a report that may show the U.S. jobless rate held at a 26-year high. U.S. stock-index futures advanced.
Taxable Bonds Make Up Biggest Share of Muni Market in 7 Weeks
Bloomberg - 16 minutes ago
Dec. 4 (Bloomberg) -- Taxable bonds comprised about 44 percent of new long-term, fixed-rate issues in the municipal market this week, the most in at least seven weeks , easing the way for a drop in tax-exempt borrowing costs.
Foreclosure fight gets personal
Boston Herald - Fri Dec 4, 12:20 am ET
Freddie Mac is its taking anti-foreclosure efforts to the front doors of homeowners who've fallen behind on mortgages. The home-loan giant recently hired consulting...
House votes to extend tax on wealthy estates
Washington Post - Thu Dec 3, 4:31 pm ET
WASHINGTON -- The House voted Thursday to indefinitely extend a 45 percent inheritance tax on estates larger than $3.5 million, canceling a one-year repeal of the tax set to begin next month.
Dubai Crisis Is Wake-Up Call for China Real Estate, Yi Writes
Bloomberg - 27 minutes ago
Dec. 4 (Bloomberg) -- Dubai’s debt crisis should be a “wake-up call” for China, which needs to prevent a similar situation in its “speculation-driven” property market, said a researcher with China’s Academy of Social Sciences.
Rate for 30-year fixed mortgage falls
Los Angeles Times - Thu Dec 3, 10:49 am ET
The decline to 4.71% is the lowest since the mortgage finance company Freddie Mac began tracking the data in 1971. It comes as the Obama administration is working to lower borrowing costs. The average interest rate for a 30-year mortgage dropped to a record low of 4.71% this week, pushed down by an aggressive government campaign to reduce borrowing costs.
Rate On 30-year Mortgage Falls To New Low
Fox News - Thu Dec 3, 10:48 am ET
Rate On 30-year Mortgage Falls To New Low
The Estate Tax Explained: Who It Hits And Doesn't
NPR - 34 minutes ago
If you listen to Congress, you might think most people owe a lot of taxes when they die. Republicans like to call the inheritance tax the "death tax," while Democrats say it hits only the very rich. But, as is often the case, the truth is more complicated.
UPDATE: Fannie Sells $3 Billion 2-Year Notes At Treasurys +25 BPS
Nasdaq - Thu Dec 3, 2:02 pm ET
NEW YORK -(Dow Jones)- Fannie Mae (FNM) sold $3 billion of two-year notes Thursday, with the coupon pricing below 1%, a level that is much lower than existing bonds and closer to Treasury rates.
Ranking baseball's best, worst farm systems
Sports Illustrated - Thu Dec 3, 4:14 pm ET
Baseball America ranks the 30 MLB farm systems twice a year -- in the spring, as the minor league season is about to start, and again every December in our Prospect Handbook.
Abbey, Irish Home Builder, Forecasts ‘Modest’ Full-Year Profit
Bloomberg - 37 minutes ago
Dec. 4 (Bloomberg) -- Abbey Plc , Ireland’s biggest homebuilder, said it anticipates “modest profitability” this financial year. “Prospects for the group continue to be dull,” Chairman Charles Gallagher said in a statement today as the Dublin-based company reported a half-year profit.
Debt Crisis Tests Dubai’s Ruler
New York Times - Thu Dec 3, 4:11 pm ET
The ruler of Dubai, Sheik Mohammed bin Rashid al-Maktoum, became renowned as a developer-king, an autocratic visionary determined to build a 21st century Xanadu in the desert despite a legion of critics who said it could not be done, The New York Times’s Robert F. Worth and Heather Timmons report from the city-state.
GE's slimmer, trimmer future
CNN Money - Thu Dec 3, 4:10 pm ET
General Electric -- the last of the giant diversified conglomerates -- has adopted a strategy that was once unthinkable: narrowing its focus. It's a risky move for a company that had counted on its diversity as a hedging tool. But it's also one that may pay off in spades.
West Bank settlers reject Netanyahu's pleas for order
Los Angeles Times - 41 minutes ago
After meeting with the Israeli prime minister, Jewish settlers vow to continue confronting soldiers and resisting enforcement of his moratorium on construction. Defiant West Bank settler leaders rejected a personal plea from the Israeli prime minister Thursday to respect a government-ordered construction freeze in their communities, vowing to continue to confront security forces sent to enforce ...