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New York Fed starts mortgage bond purchase - 7 hours ago - NEW YORK The New York Federal Reserve began buying agency mortgage bonds on Monday, kicking off its purchase program of as much as 500 billion and propelling prices higher in the sector while Treasuries sank. Details of the Fed 0133 : Business World

US auto sales drop in 2008, recovery unclear - 1 hour ago - DETROIT AP After a year in which U.S. auto sales tumbled 18 percent and GM had its worst year in nearly a half-century amid slack demand fueled by a terrible economic outlook and growing job worries, automakers are reluctant to predict 0133 : MLive.com

Attorneys general push to ease bankruptcy rules on mortgages - 3 hours ago - Arizona is joining other states asking Congress to liberalize bankruptcy rules so judges can modify home loans to help reduce foreclosures. Arizona Attorney General Terry Goddard has joined the attorneys general from 21 other states in the 0133 : Phoenix Business Journal

Fed invests in mortgage market - 2 hours ago - NEW YORK - The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market. The program, initially announced Nov. 25, allows the Fed to spend 500 0133 : Cincinnati.com

Leading Democrat offers mortgage aid bill - 55 minutes ago - WASHINGTON Reuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures. The bill drafted by Sen. Richard Durbin 0133 : Reuters

Leading Democrat offers U.S. mortgage aid bill - 1 hour ago - WASHINGTON, Jan 6 Reuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures. The bill drafted by Sen. Richard 0133 : Reuters

Property owners see value of homes falling survey - 2 hours ago - PROPERTY owners are expecting the value of their homes to decline in the next quarter, according to a survey conducted jointly by the Mortgage and Finance Association of Australia and BankWest. About 60 per cent of the 700-plus respondents 0133 : The Australian

Lyondell, U.S. Chemical Maker, Files Bankruptcy Update2 - 34 minutes ago - Jan. 6 Bloomberg Lyondell Chemical Co. , an affiliate of LyondellBasell Industries AF SCA, one of the world s largest closely held chemical producers, filed for bankruptcy protection in New York. Lyondell Chemical, based in Houston, 0133 : Bloomberg