Newsdesk | Volume 2 | Issue 176 | November 21, 2008

Top News
U.S. tries new tack on housing - Fortune - - NEW YORK (CNNMoney.com) -- The Bush administration said Wednesday that it was changing its nearly-moribund mortgage rescue plan in an effort to spark more lenders and homeowners to participate. The Department of Housing and Urban Development's Hope for...
Home prices down 9% from a year ago - USA Today - - The rise in foreclosures continued to drive down the median price of homes across the country in the third quarter, according to a report released by the National Association of Realtors on Tuesday. CHART: Biggest median price drops and gains Economists...
No job, bad mortgage - no luck - Fortune - - 6.5%, its highest level in more than 14 years. The effects are already showing up in the housing market. In June, 45.5% of all delinquencies reported by Freddie Mac were due to unemployment or the loss of income, according to the company. That's an
Bank of America sees record credit card losses - Forbes.com - - BANKOFAMERICA/LOSSES (UPDATE 2, PIX):UPDATE 2- DETROIT (Reuters) - Bank of America Corp (nyse: BAC - news - people ) Chief Executive Kenneth Lewis said Tuesday the U.S. economy will get worse before it improves, and forecast record losses for the U.S. c...
GMAC files to become a bank, eligible for government aid - USA Today - - DENVER

Market News
Fidelity National completes repayment of borrowing - MarketWatch - - BOSTON (MarketWatch) -- Fidelity National Financial Inc. (FNF:FNFNews, chart, profile, moreLast: Delayed quote dataAnalyst Create alertInsider Discuss Financials Sponsored by:, , ) on Wednesday said it has repaid $20 million under its credit facility. T...
Housing starts, permits at record lows - CNN Money - - Key indicators plummet in October, spelling more bad news for the economy. NEW YORK (CNNMoney.com) -- Housing starts and permits, both of them key measurements of home construction, hit record lows in October, the Commerce Department reported Wednesday....
Mortgage applications fell 6.2% last week: MBA - MarketWatch - - CHICAGO (MarketWatch) -- Mortgage applications fell a seasonally adjusted 6.2% last week from the prior week, as lower interest rates on fixed-rate mortgages failed to stir prospective homebuyers to action, the Mortgage Bankers Association reported on W...
Mortgages: Mortgage rates drop again: Freddie Mac - MarketWatch - - 0.5 point. A point is 1% of the mortgage amount, charged as prepaid interest. 'Long- and short-term mortgage rates fell for the third consecutive week amid continuing signs of a slowing economy,' said Frank Nothaft, Freddie Mac chief economist, in a news
Demanding Lower Mortgage Rates - Forbes.com - - HomeBusiness Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists Opinions Blogs E-mail Newsletters People Tracker Portfolio Tracker Special Reports Video & Audio Commerce Energy Health Care Logistics Manufacturing Services Techno...
Reinventing the real estate industry - Inman - - Extract not available.
CBRE Launches Unit to Service Distressed Assets - GlobeSt.com - - Levy LOS ANGELES-CB Richard Ellis has launched a new initiative called the Restructuring Services Group that brings together under one umbrella the full range of CBRE capabilities for servicing distressed commercial real estate. Spencer Levy, the senio...

Technology News
How much does spam cost you? Google will calculate - Computerworld - - (IDG News Service) How much is spam costing your company? Google unveiled a nifty little calculator Wednesday to help you add it up. It's part of a marketing campaign for Google Message Security, the online spam-filtering service based on the Postini te...
Raising a glass to 'PC Magazine' as the print edition goes offline - CNET News.com - - (Credit: Magmaweb.com) The Alleyinsider reports this morning that a fter 26 years in circulation, Ziff Davis Publishing's PC Magazine will issue its last print edition in January 2009. Going forward, all of its publishing efforts will shift to the online...

Other News
Rebuilding Your Wealth: Real Estate (Ask SmartMoney) - Smart Money - - The home is the biggest component of many consumers personal wealth. So if you want to give folks cold sweats and recurring nightmares, tell them they have to sell in this abysmal market. Life sometimes intervenes new job, new babyforcing homeowners to r...

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