As the financial news remains focused on mortgages, we're hearing more about Fannie Mae and Freddie Mac. Tess asks Susan Wachter for a little help with the who's who.
Citibank, the nation's biggest bank, says it lost $14 billion in the first quarter. But its assurance that it was working to climb out of the hole was good enough for investors, who bumped up its stock 4%. Bob Moon reports.
Jumbo home loans — anything larger than $417,000 — have become more expensive than regular mortgages. They're 7% instead of 5.9%. Now Freddie Mac has a deal with four lenders to lower the rate. Jill Barshay reports.
The number of Americans kidnapped while in Mexico doubled in 2007 from the previous year. The rise in crime has not only reduced tourism, it is affecting the future of real estate projects, such as Donald Trump's Tijuana towers. Jill Barshay reports.
Concern is growing that banks may have been hiding their distress by manipulating a key financial benchmark called the LIBOR. It's used as the basis for millions of financial transactions around the world, including mortgages and corporate loans. Stephen Beard reports.
A new poll finds that many Americans think it is a good time to buy a house, especially with the interest rates still pretty good. But sellers aren't selling. What's up? Marketplace's Jeremy Hobson reports.
British Prime Minister Gordon Brown is in the U.S. today to talk with Wall Street bankers about the global credit crunch and possibly ask them to reveal their credit losses asap. Stephen Beard in London reports.
