World-News

Turmoil in the subprime mortgage market spread again yesterday - this time to a type of short-term security held by money market mutual funds. These funds have become the investment of choice for many people seeking a safe haven.

http://tinyurl.com/2zbuj6



Sentinel Management Group Halts Client Redemptions

Sentinel Management Group Inc., the Illinois-based cash-management firm that oversees $1.6 billion, froze client withdrawals after saying that credit-market turmoil made it impossible to trade without incurring losses.

http://tinyurl.com/ytupwy



Countrywide Falls: Merrill Cites Bankruptcy Prospect

Countrywide Financial Corp., the biggest U.S. mortgage lender, fell for the fifth consecutive day on the New York Stock Exchange after Merrill Lynch & Co. raised the possibility of bankruptcy.

http://tinyurl.com/2h6kqf



Home Sales Fall Nearly 11 Percent in 2Q

U.S. existing home sales fell nearly 11 percent in the second quarter from last year's levels as the residential real estate market's slump continued, an industry group said Wednesday.

http://tinyurl.com/34s9hp

From Information Clearing House



http://freepage.twoday.net/search?q=mortgage