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Daily Financila News - Mortgage | Real Estate | Stock Market

Written By: Listing Office

Stocks dive as second quarter ends - CNNMoney.com -- Stocks finished lower after a late-session retreat, as investors piled out of a downbeat quarter that ended with Wednesday's session.

 

The major indexes had teetered on either side of breakeven throughout the day as investors weighed a weak jobs report against an improved European bank outlook that provided earlier support.

 

But all three indexes turned down sharply as the session ended. The Dow Jones industrial average lost 96 points, or 1%, to finish at 9,774.02. The S&P 500 closed down 1% at 1,030.71 and the Nasdaq lost 1.2% to end at 2,109.24.

 

Treasury prices slip - CNNMoney.com -- Treasury prices ended mixed Wednesday as investor appetite for safe-haven assets faded a day after prices surged and the benchmark 10-year note's yield fell to a 14-month low below 3%.

 

What prices are doing: The 10-year note edged up 3/32 to 104-25/32 and its yield fell to to 2.94% from to 2.96% late Tuesday. The 2-year note shed 1/32 to 100-1/32 and its yield was 0.62%. The 2-year note's yield fell Tuesday to 0.59%, a record low. The 30-year bond rose 23/32 to 108-14/32 with a yield of 3.93%. Bond prices and yields move in opposite directions.

 

Foreclosures sell at 30% discount - Foreclosures accounted for a third of all sales -- and sold at a nearly 30% discount -- during the first three months of 2010.

 

According to a new report from RealtyTrac, the marketer of foreclosed properties, 31% of all sales were foreclosures. And homebuyers purchasing those properties paid a whopping 27% less, on average, compared to sales of non-distressed homes.

 

These foreclosure sales include properties sold in short sales or after a bank repossession, known as REOs in industry terms. It does not include transfers from borrowers to banks, as in a sheriff's auction.

 

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