Archive for April, 2008
Monday, April 28th, 2008
Wachovia Corporation, the rising Charlotte North
Carolina banking star is having a very bad April.
On April 14 the bank announced it had lost $350
million or $0.20 per share during the first quarter of 2008.
Then this past Friday Wachovia got hit with a double whammy.
In the morning it was announced ...
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Friday, April 25th, 2008
M1 Money Supply fell $2.4 billion in the week ending
April 14, while M2 fell $15 billion, according to
figures released from the Federal Reserve Thursday.
The Fed's Treasury holdings...
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Thursday, April 24th, 2008
New home sales in the U.S. were down for the fifth
consecutive month in March, falling by 8.5% to 526k, much lower than the
580k level expected by economists, and setting a new low since
October 1991. Inventories soared from already-worrying
levels. Regionally, new home sales fell across the board... ...
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Thursday, April 24th, 2008
Expectations for a pause in U.S. monetary policy were bolstered by an
article in Thursday's Wall Street Journal, where noted Fed watcher Greg
Ip said, "The Federal Reserve is likely to cut its short-term interest
rate by a quarter of a percentage point next week -- but then may be ...
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Wednesday, April 23rd, 2008
As the overhang of new homes sits at a 27-year high of 9.8 months,
new home sales are expected to fall for a fifth
consecutive month in the March index from the U.S. Census Bureau on
Thursday.
In February's report, sales fell 1.8% to a seasonally adjusted annual
rate of 590K, ...
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Wednesday, April 23rd, 2008
Long term mortgage interest rates as reported by
Freddie Mac in its Primary Mortgage Market Survey were virtually
unchanged during the week which ended April 17. However, long term rates
as reported by the Mortgage Bankers Association in their Weekly Mortgage
Applications Survey for the week ended April 18 underwent ...
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Tuesday, April 22nd, 2008
Existing home sales fell more than expected in March,
falling 2.0% to a seasonally adjusted annual pace of 4.93 million units,
largely retracing the surprising 2.9% gain in the previous month to 5.03
million units, the National Association of Realtors (NAR) reported
Tuesday.
Economists were expecting the March data to
deteriorate ...
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Tuesday, April 22nd, 2008
U.S. house prices rose 0.6% in February following
January's 1.1% decline, the Office of Federal Housing Enterprise
Oversight (OFHEO) reported Tuesday. Economists had expected a monthly
decline of 1.5%.
In the previous month, U.S. home prices fell 1.1% between December
2007 and January 2008, contributing to a 12-month decline of 3.0%.
For ...
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Tuesday, April 22nd, 2008
The new monthly OFHEO purchase-only home price index
is expected to fall 1.5% in February, following a 1.1% decline in the
January report.
The purchase-only index, based on data from home sales, was introduced
in OFHEO's fourth quarter 2007 House Price Index (HPI) report, and
provides home price conditions for the ...
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Monday, April 21st, 2008
The existing home sales index for March is expected
to fall 1.6% to a pace of 4.93 million units, following a surprising 2.9%
gain to a pace of 5.03 million in the previous month.
February's advance halted a six-month trend of declining sales and was
well-above expectations, but sales were still ...
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