Nationwide Average Mortgage Rate

1) Bankrate: Mortgage Rates, Like Fed, Hold Steady (http://biz.yahoo.com/prnews/080626/clth034.html?.v=101)
Fixed mortgage rates took a breather, with the average conforming 30-year fixed mortgage rate holding at 6.62 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points.

2) Mortgage applications fall to 6-1/2-year low; rates drop (http://www.usatoday.com/money/economy/housing/2008-06-25-mortgage-applications_N.htm?csp=34)
Mortgage applications fell for a second week, hitting their lowest level in nearly 6-1/2 years despite a sharp drop in interest rates, an industry group said Wednesday.

3) Two-year fixed-rate deals hit 7% (http://news.bbc.co.uk/go/rss/-/2/hi/business/7471631.stm)
Interest rates on the average two-year fixed-rate mortgage have now risen above 7%, according to Moneyfacts.

4) Mortgage rates still rising (http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20080627/BUSINESS04/806270374)
Rates on 30-year mortgages rose again this week, to the highest level in more than nine months, reflecting concerns about how the Federal Reserve will respond to higher inflation pressures.

5) Home prices in U.S. tumble at record rate nationwide (http://www.lansingstatejournal.com/apps/pbcs.dll/article?AID=/20080625/NEWS03/806250325)
No matter who's measuring, the results are the same.

6) U.S. mortgage applications hit 6 1/2 year low (http://www.globeinvestor.com/servlet/story/RTGAM.20080625.wusmortgages0625/GIStory/)
NEW YORK — U.S. mortgage applications fell for a second consecutive week, hitting their lowest level in nearly 6-1/2 years despite a sharp drop in interest rates, an industry group said Wednesday.

7) Rates on 30-year mortgages rise again, to 6.45% (http://www.usatoday.com/money/economy/housing/2008-06-26-mortgage-rates_N.htm?csp=34)
Rates on 30-year mortgages rose again this week, climbing to the highest level in more than nine months, reflecting concern about how the Federal Reserve will respond to higher inflation pressures.

8) Halifax makes twentieth change to mortgage rates (http://www.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article4179970.ece)
Halifax, the UK's biggest mortgage lender, is expected to deliver more woe to homeowners and first-time buyers tomorrow when it raises its fixed rates on loans by 0.5 percentage points.

9) Lenders send two-year fixed loan rates soaring past 7% for first time in a decade (http://www.mailonsunday.co.uk/news/article-1029110/Lenders-send-year-fixed-loan-rates-soaring-past-7-time-decade.html?ITO=1490)
The average rate on a two-year fixed loan has jumped above seven per cent for the first time in more than a decade, it was revealed today.

10) U.S. Home Prices Tumble In April At Record Rate (http://www.nbc4.com/money/16696489/detail.html?rss=dc&psp=news)
U.S. home prices tumbled in April at the fastest rate since a widely followed index was begun in 2000 with all 20 metropolitan areas surveyed posting annual declines for the first time.

11) Lenders send two-year fixed loan rates soaring past 7% for first time in a decade (http://www.thisislondon.co.uk/news/article-23499151-details/Lenders+send+two-year+fixed+loan+rates+soaring+past+7%25+for+first+time+in+a+decade/article.do)
The average rate on a two-year fixed loan has jumped above seven per cent for the first time in more than a decade, it was revealed today. The devastating research, from the financial information firm Moneyfacts, highlights the nightmare facing homeowners who need to remortgage this year.

12) Mortgage crisis: Other shoe is poised to drop (http://www.fresnobee.com/business/story/684021.html)
An adjustable-rate mortgage bubble is coming to the central San Joaquin Valley's housing market, and the tens of thousands of homeowners who hold those mortgages should prepare for the rate increases to come.

13) U.S. mortgage applications hit 6 1/2 year low (http://www.reportonbusiness.com/servlet/story/RTGAM.20080625.wusmortgages0625/BNStory/Business/?page=rss&id=RTGAM.20080625.wusmortgages0625)
Tighter lending standards and an unwieldy supply of homes for sale are preventing the U.S. housing market from rebounding

14) Mortgage approvals slump to record low (http://www.guardian.co.uk/money/2008/jun/25/mortgages.debt?gusrc=rss&feed=networkfront)
Chancellor accuses banks of charging too much as approvals to drop by 56% from May last year

15) Real estate season kicks off with summer (http://mywesttexas.com/articles/2008/06/27/news/top_stories/real_estate_market.txt)
-More than 100 additional homes on the market compared with last summer

16) Around the nation (http://www.chron.com/disp/story.mpl/business/5859174.html)
Legendary trial lawyer Richard "Dickie" Scruggs is scheduled to be sentenced today in Mississippi for his role in a judicial bribery scheme that ended his storied career.

17) Congress Passes Iraq War Spending Bill (http://www.thebostonchannel.com/politics/16723215/detail.html?rss=bos&psp=news)
Congress has passed a $162 billion spending bill for the wars in Iraq and Afghanistan.

18) Stocks sink as financial, auto giants downgraded (http://www.signonsandiego.com/uniontrib/20080627/news_1n27market.html)
Once more, gloom is descending over Wall Street. After rallying for a few hopeful months this spring, the stock market is sinking to its lowest level in years. Cracks are reappearing in the credit markets. The price of oil is rising from one record to another. And the analysts who seemed so confident a few weeks ago are predicting another round of steep losses at big financial companies such as ...

19) Housing nearing bottom? (http://www.news-journalonline.com/NewsJournalOnline/Business/Headlines/bizBIZ01REAL062708.htm)
DAYTONA BEACH -- Falling home prices are encouraging more home sales and possibly signal a bottoming out of the declining housing market.

20) No-money-down home loans still exist (http://www.tennessean.com/apps/pbcs.dll/article?AID=/20080625/BUSINESS01/806250417)
Federal agencies take risk despite mortgage crisis.

21) Seattle-area home prices slip 4.9% from year ago; other regions fare much worse (http://seattletimes.nwsource.com/html/businesstechnology/2008015669_homeprices25.html?syndication=rss)
Seattle-area home prices declined 4. 9 percent over the year ending in April, far less than the national average of 15. 3 percent, according to...

22) Home sale prices drop 15 percent in top 20 markets (http://www.newsday.com/business/ny-bzhome255740804jun25,0,2186695.story?track=rss)
Home sale prices in the nation's 20 biggest markets fell by 15.3 percent in April compared to a year ago, a record rate of decline, according to data from Standard & Poor's home price index released yesterday.

23) This week: June 26 - July 2 (http://www.bankrate.com/brm/news/bank/Jun2608_interest_rate_roundupa1.asp)
products from Bankrate.com's weekly national survey of large banks and thrifts.

24) Paychex, Inc. Reports Record Fiscal 2008 Results (http://www.centredaily.com/business/story/681828.html)
Paychex, Inc. ("we," "our," or "us") (NASDAQ:PAYX) today announced record net income of $576.1 million for the fiscal year ended May 31, 2008 ("fiscal 2008"), a 12% increase over net income of $515.4 million for the prior fiscal year. Diluted earnings per share was $1.56, an increase of 16% over $1.35 per share for the prior fiscal year. Total revenue was $2.1 billion, a 10% increase over $1.9 ...

25) The fight is on (http://www.dcnewspress.com/site/tab11.cfm?newsid=19807076&BRD=2713&PAG=461&dept_id=559196&rfi=6)
Courtesy Photo Margaret Ann Sadler holds the original promissory note for her house next to an altered version filed by a lender forcing foreclosure. Sadler is joined by attorneys William Henry, left, and Michael Robinson, June 19 at the Robert A.Christensen Justice Center.">

26) Paychex, Inc. Reports Record Fiscal 2008 Results (http://biz.yahoo.com/bw/080626/20080626006001.html?.v=1)
ROCHESTER, N.Y.----Paychex, Inc. today announced record net income of $576.1 million for the fiscal year ended May 31, 2008 , a 12% increase over net income of $515.4 million for the prior fiscal year.

27) Oil speculation: The great debate (http://money.cnn.com/rssclick/2008/06/25/news/economy/jec_oil/index.htm?section=money_latest)
It's the $64,000 question on Capitol Hill this week: what is responsible for the record escalation on oil prices?

28) Halifax becomes last of big four lenders to hit homeowners with punishing rate rises (http://www.thisislondon.co.uk/news/article-23497227-details/Halifax+becomes+last+of+big+four+lenders+to+hit+homeowners+with+punishing+rate+rises/article.do)
The death knell was sounded for the cheap fixed mortgage tonight as Britain's biggest lender raised rates by up to 0.5 per cent. Halifax - which provides one in five new mortgages - pushed up the cost of more than half of its fixed-rate deals.

29) Euphoria filled the mortgage bubble; it was destined to burst (http://www.pittsburghlive.com/x/pittsburghtrib/business/s_573917.html?source=rss&feed=4)
First a three-part series exploring the mortgage and credit crisis.

30) Over the horizon, a housing recovery (http://money.cnn.com/rssclick/2008/06/23/news/economy/harvard_housing_study/index.htm?section=money_latest)
The current housing market is bleak: home prices and sales are plummeting, foreclosure proceedings are skyrocketing and mortgage rates are on the rise.

31) Dealership site leased (http://news.yahoo.com/s/sddt/20080626/lo_sddt/bdealershipsiteleasedb)
Sunroad BCV Auto Inc., dba Cunningham BMW, has signed a five-year lease for a 3.73-acre commercial property at 680 S. Marshall Ave. in El Cajon.

32) Business Highlights (http://biz.yahoo.com/ap/080624/business_highlights.html?.v=1)
U.S. consumers are the gloomiest they've been since the tail end of the last prolonged recession. Inflation, sinking home values and soaring gas prices have pushed confidence to the lowest level since 1992.

33) Halifax becomes last of big four lenders to hit homeowners with punishing rate rises (http://www.mailonsunday.co.uk/news/article-1028079/Halifax-big-lenders-hit-homeowners-punishing-rate-rises.html?ITO=1490)
The death knell was sounded for the cheap fixed mortgage tonight as Britain's biggest lender raised rates by up to 0.5 per cent.

34) After the Bust (http://biz.yahoo.com/portfolio/080624/dcr9894e34a60db9f648c51cbb34f3a4b6d.html?.v=2)
At ground zero of the housing slump, no turnaround is in sight.

35) Business Highlights (http://news.ino.com/headlines/?newsid=689171778266712)
NEW YORK (AP) _ U.S. consumers are the gloomiest they've been since the tail end of the last prolonged recession.

36) The Rising Costs Of Fixing Your Mortgage (http://rss.feedsportal.com/c/343/f/4670/s/14a3eac/story01.htm)
Fixed rate mortgages are at their highest level for ten years...should that put you off?

37) Metropolitan region plays key role in FBI fight against mortgage scams (http://www.examiner.com/a-1450710~Metropolitan_region_plays_key_role_in_FBI_fight_against_mortgage_scams.html?cid=rss-Washington_DC)
As the number of foreclosures in the metropolitan area continue to skyrocket, the region has become a key battleground for the FBI's fight against mortgage fraud, federal officials said Thursday.

38) Anatomy of the housing market's rise and fall (http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20080622/BUSINESS12/806220337)
The black-tie party at Washington's swank Mayflower Hotel seemed a fitting celebration of the biggest American housing boom since the 1950s: filet mignon and lobster, a champagne room and hundreds of mortgage brokers, real estate agents and their customers gyrating to a Latin band.

39) Housing recovery outlook bleak for R.I. (http://www.projo.com/news/content/BZ_HARVARDSTUDY_FORECLOSURES_23_06-23-08_1PAJ_v134.4fe40e.html?npc)
Rhode Island’s deteriorating job market is expected to delay its recovery from what a new study describes as the nation’s worst housing downturn in a generation.

40) Housing recovery outlook bleak for R.I. (http://www.projo.com/news/content/BZ_HARVARDSTUDY_FORECLOSURES_23_06-23-08_1PAJ_v134.4fe40e.html)
A Harvard study concludes that it will take longer for prices in Rhode Island to rebound because the state is continuing to lose jobs.

41) DATA SNAP: Rightmove: UK House Asking Prices Fall In June (http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=759e67b1-6096-4c85-a5fb-57fdf35588c0)
LONDON (Dow Jones)--The asking price for a home in the U.K. fell in June from a record high the previous month as vendors scaled back their expectations in view of the credit crunch, an uncertain economic outlook and a rise in properties for sale, online estate agent Rightmove said Monday.

42) Local housing market stable (http://www.shreveporttimes.com/apps/pbcs.dll/article?AID=/20080622/NEWS01/806220326)
Housing experts contend that although the market is not seeing the gains it did for the last few years and home sales are down, the market is stable and in better shape than places like California, Nevada and Florida.

43) As first-time buyers vanish, the lights go out across Britain (http://www.independent.co.uk/news/business/analysis-and-features/as-firsttime-buyers-vanish-the-lights-go-out-across-britain-851835.html)
Like a giant pyramid scheme, the housing market relies on first-time buyers to enable those already on the bottom rung of the ladder to sell their starter homes and climb higher. New blood is needed for the additional funds that will keep the market buoyant.

44) The foreclosure fight is on (http://www.dcnewspress.com/site/tab11.cfm?newsid=19790666&BRD=2713&PAG=461&dept_id=559196&rfi=6)
The day Margaret Sadler agreed to sign the promissory note for her daughter's house, the last person who wanted to hear about it was her husband.

45) Tips from the experts on how to navigate an up and down real estate market (http://www.themonitor.com/articles/real_13411___article.html/estate_down.html)
A slumping home market means it's time to buy, right? A booming real estate market often signals it's time to sell, real estate agents say.