Homeowners insurance policies being issued may not be as much as hoped – did your homeowners insurance policy drop? Higher investments and a Federal Reserve rate cut – will they help?
HOMEOWNERS INSURANCE – Property insurance rates in Florida haven’t dropped as much as predicted because some insurers increased their profits rather than drop their rates, a consultant reported yesterday to Gov. Charlie Crist and the Florida Cabinet.
SUBPRIME MORTGAGES – Two days after the Federal Reserve cut a key interest rate by a half-percentage point, Fed Chairman Ben Bernanke told Congress the credit crisis has created “significant market stress,” and he offered fresh assurances that regulators would take steps to curb any fallout related to the mortgage mess.
MORTGAGES – The federal government on Wednesday nudged higher the investment caps for home-loan finance companies Fannie Mae and Freddie Mac in an effort to alleviate strain in the mortgage market.
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