Archive for July, 2009
Friday, July 31st, 2009
BoC warns of possible mass home foreclosures OTTAWA - Mortgage and consumer debt defaults could rise "significantly" if the global financial crisis deteriorates and triggers a widespread and deeper recession that cuts household income and makes it harder to pay the bills, the Bank of Canada warns.source
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Thursday, July 30th, 2009
After admitting the country is into a recession, the central bank is now warning more people could lose their homes. The Bank of Canada is warning of severe economic turmoil, including the risk of an ...source
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Wednesday, July 29th, 2009
Government efforts to provide easier credit to consumers and jump-start flagging home sales could push mortgage rates "well below 4 percent," a federal regulator said Wednesday. James Lockhart, whose agency oversees government-controlled mortgage giants...source
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Tuesday, July 28th, 2009
High saving and low private-sector debt have not shielded Germany and Japan from recession.source
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Monday, July 27th, 2009
WASHINGTON — Three months after the government seized control of Fannie Mae and Freddie Mac, lawmakers on Tuesday blamed former top executives at the mortgage giants for fueling the financial market turmoil that has dragged the country into a recession.source
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