Oil prices sank Thursday as a sour housing market signaled that demand would continue to remain low as the economic crisis rolls on.
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BRUNSWICK — As real estate agents predict an increasingly difficult housing market to accompany the ongoing closure of Brunswick Naval Air Station, redevelopment officials continue to marshal help for area property owners.
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Reuters - Fannie Mae reached an agreement to work with one of its former critics, Neighborhood Assistance Corp of America, to prevent foreclosures by reworking home mortgages to make them easier to afford, the Wall Street Journal said.

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Investor’s Business Daily - Jobless claims hit a record high, durable goods orders fell for a fifth month and new-home sales sank to an all-time low, according to separate reports on Thursday, as a recession that began a year ago shows no sign of bottoming.
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Investor’s Business Daily - The 30-year mortgage rate dipped to 5.1% in the week ended Jan. 29 from 5.12% last week, Freddie Mac (NasdaqGS:FNC - News) said. Two weeks ago the rate was 4.96%, the lowest on record dating back to 1971. The 15-year fixed mortgage remained unchanged from the week before at 4.8%. […]

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AP - Home foreclosures and market volatility are running high. So any investment even remotely connected to mortgages is the last place to look if you’re trying to protect your retirement savings, right?
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Investor’s Business Daily - Mortgage brokers are now nearly as stressed as homeowners, having lost both customers and lending options.
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AP - The homebuilding industry’s nosedive won’t let up. Sales of new homes plunged to the slowest pace on record last month and builders posted their worst annual sales results in more than two decades.

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