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NEWS

U.S. Mortgage Meltdown Slams Bank Of China (Forbes)
Bank of China was the most vulnerable of its peers, thanks to the U.S. subprime mortgage crisis.

Darling, Flint May Announce U.K. `Mortgage Rescue,' Times Says (Bloomberg.com)
Aug. 29 (Bloomberg) -- Chancellor of the Exchequer Alistair Darling and Housing Minister Caroline Flint are proposing next week to announce emergency measures for the U.K. mortgage market, the London-based Times reported, without saying where it got the information.

Financial Stocks: Bond and mortgage insurers jump on MBIA deal (Market Watch)
Shares of mortgage and bond insurers rally Thursday on news that MBIA Inc. is in a deal to reinsure billions of dollars in municipal bonds, showing the embattled bond insurer is able to attract new business despite the credit crunch.

Foreclosures Decrease; Mortgage Woes Don't (Washington Post)
The number of foreclosures in Charles County dropped in the second quarter of the year, but residents still face significant mortgage troubles, according to a report issued this month by the Maryland Department of Housing and Community Development.

Why haven't mortgage rates declined? (Bankrate.com via Yahoo! Finance)
The Federal Reserve began to slash short-term interest rates almost a year ago. Yet mortgage rates are higher now. What gives?