U.S. to pay off mortgage investors

Treasury Department announces new mortgage incentives for lenders, which will reduce monthly payments for millions of borrowers.   WASHINGTON (Reuters) — The U.S. Treasury Department will Tuesday tap a $50 billion housing rescue fund to pay off mortgage investors and reduce monthly payments for millions of borrowers, said a senior administration official. Mortgage servicers that own a small [...]

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US Consumer Confidence Edges Up in March.

U.S. consumer confidence rose slightly in March but remained weak overall due to worries about job losses, a moribund housing sector and ailing banks, a survey released Tuesday said. Investor’s Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose to 45.3 in March from 44.6 in February. “Confidence remains weak as Americans look [...]

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