An end to mortgage misery? (FT.com)
FT.com - "Declines in European house prices are clearly possible and in some countries even likely; where interest rates will go next is uncertain", writes David Miles, chief UK economist at Morgan Stanley. More »
Housing slump worse than expected: United Tech (Reuters)
Reuters - The slowdown in the U.S. housing market is worse than expected and will likely continue into the latter part of next year, an executive at diversified manufacturer United Technologies Corp. said on Wednesday. More »
Indexing would end the cycle of mortgage misery (FT.com)
FT.com - Across much of Europe people now have to borrow a great deal more than they did a few years ago - relative to their incomes - to buy houses. House prices in most of Europe are much higher than 10 years ago and in many countries the real cost of a typical house is more than double what it was in the mid-1990s. More »
Global overview: Equity markets under pressure (FT.com)
FT.com - Global equity and credit markets came under pressure on Wednesday, government bond yields sank, and the dollar hit another lifetime low against the euro as renewed concerns about US subprime mortgages unsettled investors. More »
Fed chief acknowledges credit fears (FT.com)
FT.com - Ben Bernanke acknowledged for the first time on Wednesday that credit concerns were spreading beyond the subprime mortgage market as investors showed their worries with a flight to quality, seeking refuge in government bonds and other safe assets. More »
Market stagnant for home sales
Metro Detroit home sales in June indicate the local real estate market remains stagnant. More »
What's selling: Livingston County
Description: Four-bedroom, 2 ½ -bath colonial with central air conditioning, a formal dining area, fireplace and an attached two-car garage. More »
What's selling: Oakland County
Description: Three-bedroom, two-bath brick ranch with central air conditioning, fireplace, first-floor laundry room and an attached two-car garage. More »
What's selling: Wayne County
Description: Four-bedroom, three-bath colonial with a formal dining area, first-floor laundry room, finished basement and an attached two-car garage. More »
Basis Capital in creditor crisis talks (FT.com)
FT.com - Basis Capital, one of Australia's biggest hedge fund managers, is in crisis talks with creditors after banks seized and began to sell some of its investments linked to hard-hit US subprime mortgages. More »
Global overview: Equity markets under pressure (FT.com)
FT.com - Global equity and credit markets came under pressure on Wednesday, government bond yields sank, and the dollar hit another lifetime low against the euro as renewed concerns about US subprime mortgages unsettled investors. More »
Bear Stearns shock waves gain new force (FT.com)
FT.com - The crisis in the US subprime mortgage market has taken another ugly turn. The revelation that investments in two Bear Stearns (NYSE:BSC) hedge funds were virtually worthless because of bad subprime bets sent tremors through markets yesterday. More »
Dollar at all-time low agains euro (FT.com)
FT.com - The US dollar fell on Wednesday as expectations of moderating US inflation, a sluggish housing market and moderate growth prospects revived the possibility of interest rate cuts later in the year. More »
Credit Risk Worries Money Managers (Investor's Business Daily)
Investor's Business Daily - It shouldn't come as a surprise that woes in the subprime mortgage market have dampened investors' views on the market. More »
IBD's Top 10 - Wednesday (Investor's Business Daily)
Investor's Business Daily - 1 Subprime fears, weak earnings, rising oil prices and a muted Fed chief sent the indexes down 1% or more. But the major averages rallied to close near session highs. The Nasdaq fell 0.5%, the Dow 0.4%, the S&P 500 0.2%. Volume inched lower on the Nasdaq, but rose on the NYSE. The 10-year Treasury yield eased to 5.03% after falling below 5% intraday. More »
Fed chief acknowledges credit fears (FT.com)
FT.com - Ben Bernanke acknowledged for the first time on Wednesday that credit concerns were spreading beyond the subprime mortgage market as investors showed their worries with a flight to quality, seeking refuge in government bonds and other safe assets. More »
Bond insurers' stocks hit by uncertainty (AP)
AP - Subprime borrowers are having growing problems making their mortgage payments, and there has been evidence of outright fraud in some low-documentation loans. More »
Dollar nears record lows vs. euro, pound (AP)
AP - The dollar hovered near record lows against the euro and the pound Thursday, as the U.S. currency was battered by concerns over the U.S. housing market. More »
Overnight real estate rates still sluggish
30-year fixed rate at 6.31%; 10-year Treasury yield at 5.03% More »
Stewart Title accused of hiring unlicensed title examiners
Insurer pays $1.5 million fine to settle California allegations More »
Mortgage rates stuck in narrow range
Weakness in housing counteracts stock market gains, surveys find More »