GMAC

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings forecasts that weak macroeconomic conditions will lead to a slow recovery in industry sales for the U.S. auto sector in 2010, with U.S. light vehicle sales forecast to reach 11.1 million units next year. This would represent an increase of approximately 7.8% over the estimated 2009 figure of 10.3 million units. Factors precluding a stronger bounce from trough levels include high unemployment, pressured consumer discretionary spending, the lost wealth effect from lower housing prices and a higher savings rate. Weak demand from daily rental and pressured municipal finances will ...

SPRINGFIELD, Ill., Nov. 23 /PRNewswire-USNewswire/ -- Illinois home sales took a double-digit jump in October as buyers took advantage of unprecedented buyer-market conditions with record low mortgage interest rates, affordable home prices and the federal first-time homebuyer tax credit. According to the Illinois Association of REALTORS(R) latest report, statewide total home sales (which include single-family and condominiums) in October 2009 reached 10,986 homes sold, up 24.2 percent from October 2008 sales of 8,846. The Illinois median price in October 2009 was $157,000 down 7.6 percent from $170,000 in October 2008. The median is a typical market price where half the homes sold for more, half sold for less. "October's extraordinary sales totals reflect home purchases by many buyers who were sitting on the sidelines of the housing market waiting out the economic downturn as well as more home sellers coming to terms with accurate pricing given the market conditions," said ...

DALLAS, Nov. 23 /PRNewswire/ -- The top residential lender was unseated in MortgageDaily.com's Third Quarter 2009 Production Ranking, while Citigroup Inc. fell two spots. Aggregate U.S. originations were off by nearly one-fourth. An analysis by MortgageDaily.com of home loan production indicated that overall third-quarter volume was 22% lower than the second quarter. Compared to a year ago, however, fundings were 40% higher. The data were derived from quarterly earnings reports, public filings or directly from the companies. The biggest lender was Bank of America ...

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Citizen Group's Report Puts Cost of Auto Bailout in Perspective ALEXANDRIA, Va., Nov. 18 /PRNewswire-USNewswire/ -- The American taxpayer has put up $12,200 for every General Motors vehicle sold through the beginning of 2011, and $7,600 for every Chrysler vehicle sold as well, according to a new report issued by the 362,000-member National Taxpayers Union (NTU). (Logo: http://www.newscom.com/cgi-bin/prnh/20080903/NTUIONLOGO) The report, The Auto Bailout - A Taxpayer Quagmire, authored by NTU Adjunct Scholar Thomas D. Hopkins, Professor of Economics at the University of Rochester, does the math on what the government bailout of the auto industry - including General Motors, Chrysler, and GMAC - actually means to American taxpayers, including how much each taxpayer has contributed to the auto industry since December 2008 and how much each vehicle is costing us. "Every time someone in your neighborhood drives home in a shiny new Chevy Silverado, remember that it cost American taxpayers more than $12,000," said ...