Reports Suggest Broader Losses From Mortgages

Reports Suggest Broader Losses From Mortgages

“Merrill Lunch said yesterday that it would take a charge for mortgage-related securities on its books that is $3 billion more than the $5 billion it expected just two weeks ago. And a report from the National Association of Realtors showed that sales of existing homes in September fell twice as much as economists had expected, to their lowest level in nearly 10 years.”

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