Financial Update

· TSX +76.82 (Reuters) - The Toronto stock market ended the day higher, but well off earlier gains, as mining and metals stocks held investors attention

· Dow +3.01 New York reacted to a potential US$5-billion injection for mortgage lender
Washington Mutual Inc logging triple-digit gains near midday before sliding to end relatively
flat.

· Dollar -.39c to $ $98.69US

· Oil +$2.86 to close at $109.09US per barrel · Gold +13.70 to $922.70US

Bond Rates: http://www.bankofcanada.ca/en/rates/bonds.html <http://www.bankofcanada.ca/en/rates/bonds.html>
<http://www.bankofcanada.ca/en/rates/bonds.html>

Statistics Canada reported that building permits slid for a fourth straight month, falling one per cent in February due to collapsing non-residential construction plans in Ontario.

Financial Post
U.S. home-funding company Fannie Mae to require minimum credit score for loans

Fannie Mae has told lenders that it will require a minimum credit score for the loans it buys, tightening mortgage standards to protect itself from record foreclosures sweeping the country. Lawmakers have been pressuring the largest U.S. home-funding company, along with its rival Freddie Mac, to more aggressively buy home loans in a bid to lower mortgage rates and prop up housing. However, the two government-chartered companies are battling their own problems as home loans sour. In response to soaring mortgage defaults, they are increasing fees, restricting the loans they purchase and trying to preserve and raise capital. The latest steps are part of amended underwriting practices for loans Fannie Mae buys, aimed at adjusting prices to reflect heightened housing market risk and protecting the company's capital.Close

<http://www.nationalpost.com/todays_paper/story.html?id=418691#close>

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