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08/23/2007 Credit crunch hits hard in some real estate markets
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Last year, about 90 percent of the real estate transactions that broker Bryant Tutas handled for his clients were financed by subprime loans.
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08/23/2007 Bankrate feeding mortgage info to Homescape
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A new section on the listings site Homescape offers information on mortgage rates and articles geared for consumers from Bankrate Inc.
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08/23/2007 Delta Financial, Impac Mortgage announce 650 layoffs
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Two mortgage lenders -- Delta Financial Corp. and Impac Mortgage Holdings -- announced layoffs totaling 650 workers Wednesday, adding to the tally of more than 13,000 job cuts in the last week.
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08/23/2007 Fed move pulls mortgage rates down
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Long-term mortgage rates declined this week, helped in part by the Federal Reserve's recent cut of the rate it charges banks for direct loans, Freddie Mac and Bankrate.com reported today.
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08/23/2007 Realtor.com rolls out new features
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Move Inc. today announced the launch of several enhancements at the Realtor.com property-search site, including the addition of neighborhood information and the ability for Realtors to post up to 25 photos per listing and embed video content at the site.
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08/23/2007 BofA injects $2 billion into Countrywide
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Countrywide Financial Corp., which last week said it had drawn down an $11.5 billion line of credit with 40 of the world's largest banks, announced Wednesday that it had obtained an additional $2 billion capital infusion from Bank of America -- but it came at a price.
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08/23/2007 Overnight real estate rates still lower
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Long-term mortgage interest rates sank further Wednesday, and the benchmark 10-year Treasury bond yield rose to 4.65 percent.
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08/23/2007 Layoffs in lending top 13,000 in one week
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Lehman Brothers Holdings Inc. announced Wednesday it will lay off 1,200 workers as it closes its subprime lending subsidiary, bringing to more than 13,000 the number of layoffs announced by mortgage lenders in the last week.
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08/23/2007 Debate rises over MLS role in offer of compensation
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Editor's note: Long a crucial center of a healthy, functioning housing market, the MLS now finds itself having to adjust and reinvent to keep up with changing times. This three-part series examines new initiatives in data-sharing and consolidation, as well as debates over public-facing property search sites and the MLS's role in broker cooperation and offers of compensation. (Read Part 1, "Consolidation, collaboration breaking down MLS walls" and Part 2, "MLS public listing sites gain support.")
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08/23/2007 There's No Stopping Canada's Housing Market
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"What remains the greatest source of weakness in today's U.S. economy is a continued source of strength in Canada," says Warren Lovely of CIBC World Markets in a recent report. "While the U.S. housing market is mired in deep recession, Canada's own housing market has demonstrated extraordinary resilience."
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