Archive for March 18th, 2008

The Federal Reserve is likely to cut interest rates again Tuesday, but don't expect mortgage rates to go down too. In fact, home loans could be heading higher.

Lehman Brothers' shares soared Tuesday after the firm reported quarterly results that topped Wall Street's forecasts. Just a day earlier, investors had wondered about the firm's ability to withstand the turmoil in financial markets.

The Federal Reserve cut interest rates by three-quarters of a percentage point Tuesday, but don't expect mortgage rates to go down too. In fact, home loans could be heading higher.

With little college education and a sporadic work history, Jessica McGreevy was thrilled to join the red-hot real estate industry in late 2005, landing a receptionist job at a mortgage bank in a Long Island suburb about 45 miles east of New York City.

With little college education and a sporadic work history, Jessica McGreevy was thrilled to join the red-hot real estate industry in late 2005, landing a receptionist job at a mortgage bank in a Long Island suburb about 45 miles east of New York City.

Bond prices fluctuated Tuesday after the Federal Reserve cut interest rates and surprisingly strong earnings from Wall Street banks coaxed investors back into the stock market.

Even during these turbulent times on Wall Street, Goldman Sachs Group Inc. managed once again to make a tidy profit in the first quarter - $1.5 billion - though it paled in comparison with last year.

Read full story for latest details.

Read full story for latest details.

Oil prices settled higher on Tuesday after a momentary dip following the Federal Reserve's announcement that it would cut a key interest rate by three-quarters of a percentage point rather than the full point that many investors had been hoping for.