September 17, 2008
Honestly, so much has happened this week since the Fed seized mortgage giants Fannie Mae and Freddie Mac, it is hard not to feel overwhelmed as we try to absorb it all. Financial Sector in Crisis In a matter of days, Lehman Brothers Holdings Inc., the fourth largest investment firm in the country, went bankrupt, Bank of America bought financially-ailing Merrill Lynch, and the government stepped in to save American International Group (AIG), one of the world’s largest insurers, with an $85-billion dollar bridge loan.
April 18, 2008
Market and Economic Recap News on the new homes real estate industry, mortgage loans and the economy.
Business Week Ending April 18, 2008
April 2, 2008
On Monday, Treasury Secretary Henry Paulson presented his blueprint to overhaul the way the U.S. regulates its financial system. If implemented, the plan would significantly alter the way banks, brokerages and insurance companies conduct their business. Some of the suggested changes would establish consistent licensing standards for mortgage lenders. Another proposal, strongly opposed by the banking industry, may eliminate thrifts that once funded a major share of mortgage loans for new home buyers.
March 14, 2008
Business Week Ending March 14, 2008
February 29, 2008
Business Week Ending February 29, 2008
January 23, 2008
After global financial markets took a dive Monday on fears that the world’s largest economy was headed toward recession, the Federal Reserve took swift and immediate action. In an emergency meeting, the Fed cut its overnight lending rate by 75 basis …
January 11, 2008
More negative news this week on the economic front prompts more analysts to predict a recession in 2008. Bank of America announced it will rescue Countrywide Financial, the nation’s biggest mortgage lender, in a stock deal for $4.1 billion. Market and …
January 4, 2008
The first economic news for 2008 did not bring good tidings for the new year. Market and Economic Recap Business Week Ending January 4, 2008
Stocks tumbled in early trading after several economic reports and key economic indicators for December came in below analyst’s expectations.
December job growth numbers were weak, …
December 7, 2007
After a rally on Wall Street, pretty good news on the job front, and the announcement by the Bush administration that the HOPE NOW coalition of mortgage lenders will freeze interest rates for some homeowners with subprime adjustable-rate mortgages, it …
November 19, 2007
The home real estate market is expected to begin a modest recovery in 2008, according to the National Association of REALTORS® — a group that welcomes the good news about homes for sale — but there are other indications that NAR has …
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WoodHaven Log & Lumber WoodHaven Log and Lumber, located in Northern Michigan, is a supplier of premium grade pine and cedar log siding, knotty pine paneling and log home accessories.
