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Government Rolls Out Long-Sought-After Anti-Foreclosure Program
Fannie Mae (FNM) and Freddie Mac (FRE), the mortgage giants taken over by the federal government back in September, will lower monthly payments for hundreds of thousands of struggling U.S. homeowners as part of a plan to accelerate anti-foreclosure efforts, federal officials announced yesterday (Tuesday).
Fannie and Freddie, the nation’s two-largest mortgage holders, will target loans in which borrowers are 90 days or more delinquent, and have high loan-to-income ratios, Bloomberg News reported. The companies may offer homeowners reduced interest rates and longer terms of as much as 40 years to trim monthly payments. By rewriting the terms on some overdue loans,…
12Nov2008 | Money Morning | Comments Off | ContinuedAre International Equities Out of the Woods Yet?
International equities have been among the hardest hit during the market’s recent downturn.
I don’t know that I will be jumping on board anytime soon, but Citigroup (C) notes that at 10.3 times trailing earnings, world-wide stock valuations have tanked to levels worse than that of an 11.4 average for the 1970s.
To an extent, forward P/E ratios have lost some of their predictive value. After we have seen a slew of downward revisions by companies reporting their third-quarter earnings, these ratios have become moving targets.
A Downward Spiral
Country-focused ETFs have experienced quite the slide in 2008. The iShares MSCI United Kingdom Index…
5Nov2008 | Oxbury Research | Comments Off | Continued
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