WASHINGTON— Average long-term U.S. mortgage rates rose this week after a sharp drop the previous week, as global markets continued to whipsaw amid economic disruption in China and uncertainty over Federal Reserve interest-rate policy. Mortgage giant Freddie Mac said Thursday that the average rate on a 30- year fixed-rate mortgage increased to 3.89 percent...» Read More
The federal government is better at creating low-paying jobs than Wal-Mart and McDonald's combined, says a new report.
Marko Mrsnik, S&P analyst, reveals the results of a new study that shows over the long-term, current policies for aging care are not sustainable.
The government is considering buying 400-thousand tons of sugar to stave off a wave of defaults by sugar processors, reports Hampton Pearson.
Fannie Mae and Freddie Mac will form a joint venture for securitizing home loans that could end up replacing the two government-controlled mortgage finance giants.
U.S. government-run mortgage finance provider Freddie Mac earned $11 billion last year, the first annual increase in its net income since 2006.
Credit rating firm Egan-Jones and its founder agreed to be barred for 18 months from rating asset-backed or government securities to resolve charges they lied on registration forms.
In a remote desert spot in northern Nevada, there is a geothermal plant run by a politically connected clean energy start-up that has relied heavily on an Obama administration loan guarantee and is now facing financial turmoil. The New York Times reports.
One of the most prominent advertising spaces in Times Square is soon to be occupied by a Chinese brand. Xinhua, the news agency operated by the Chinese government, is leasing a giant sign, known as a spectacular, on 2 Times Square, the building that is the northern anchor of the district. The NYT reports.
"The idea that Congress is so dysfunctional that they can't cut their budget by more than 1% or 2%, when you contrast that to the re-pricing of the entire housing stock for the U.S., it's a complete disconnect." ...A report from TheStreet.