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New York Fed starts mortgage bond purchase - 8 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 - 2 hours 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 - 4 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

PSU banks fear NPA rise as govt pushes for more loans - 6 hours ago - Finance Secretary Arun Ramanathan On Monday had a meeting with top officials from state-owned banks, including the State Bank of India, to review credit offtake during December 5-19. The government wants us to clear all proposals loans 0133 : Business Standard

Builders seek RBI intervention for more sops - 11 hours ago - At a meeting with the Reserve Bank today here, builders are understood to have demanded 'more measures' from the central bank to provide relief to the cash-starved realty sector through proactive actions from banks. Banks are reluctant to 0133 : Zee News

Leading Democrat offers U.S. mortgage aid bill - 2 hours 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

Canada 2009 house sales seen falling, rebounding - 4 hours ago - TORONTO, Jan 6 Reuters - Canadian home prices will slip and sales will slow in the first half of this year but may rebound in the second half, Royal LePage Real Estate Services said in its 2009 forecast on Tuesday. Royal LePage, Canada's 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