Archive for May, 2008
Wednesday, May 28th, 2008
The Wall Street Journal is reporting that mortgage
lenders are facing an assault on yet another front as the
mortgage debacle rolls on.
Investors, including Freddie Mac and Fannie Mae, are taking a long
look at loans they have purchased from lenders over the last few years
and the contracts that ...
Posted in Uncategorized | No Comments »
Wednesday, May 28th, 2008
The surprising 2.5% increase in April durable goods
excluding transport as well as the 4.2% advance in core capital goods
makes for a strong report that contrasts with the ISM manufacturing data,
economists say.
Eric Lascelles, senior economics and rates strategist at TD
Securities, said the release is an "awfully ...
Posted in Uncategorized | No Comments »
Wednesday, May 28th, 2008
Long- and short-term interest rates
each moved slightly during the week ended May 22 on the basis of larger
economic news according to Freddie Mac's Primary Mortgage Market
Survey.
Mortgage application volume decreased...
Read More Now
Posted in Uncategorized | No Comments »
Wednesday, May 28th, 2008
Increased financial literacy from consumers would
have helped dampen some of the effects of the subprime housing
crisis, according to Robert K. Steel, U.S. undersecretary for
domestic finance, on Wednesday.
Read More Now
Posted in Uncategorized | No Comments »
Wednesday, May 28th, 2008
Weekly mortgage applications in the United States
fell in the week ending May 23, according to data from the Mortgage
Bankers' Association (MBA) on Wednesday, which said applications declined
by 4.6% week-over-week.
In the previous week, applications fell by 7.8%.
The portion of fixed-rate mortgages...
Read More Now
Posted in Uncategorized | No Comments »
Wednesday, May 28th, 2008
Some weekly U.S. retail and mortgage data kicks off the day followed
by the release of durable goods orders and some Fed speakers. The
Canadian economic front looks light with some tourism reports from
Statistics Canada and a 23-year bond auction from the Bank of Canada.
Meanwhile, Europeans will be ...
Posted in Uncategorized | No Comments »
Tuesday, May 27th, 2008
The release of the Federal Open Market Committee's (FOMC) March 31-
April 30 minutes show seven district banks had voted for no change in the
discount rate in an effort to slow inflation.
The Boston Fed was the lone bank to vote for a half-point cut in the
discount rate. Four banks ...
Posted in Uncategorized | No Comments »
Tuesday, May 27th, 2008
Mortgage News Daily received an email this week from a reader with an
intriguing idea for, if not solving, at least lessening the foreclosure
crisis. What we loved about it was its simplicity.
The reader said that she works with a real estate attorney in Florida,
one of the three states ...
Posted in Uncategorized | No Comments »
Tuesday, May 27th, 2008
San Francisco Fed President Janet Yellen (non-voter) said rates
are "appropriate" for encouraging growth and that the real Fed funds rate
is near zero. In a Q&A session following her speech, Yellen said
some negative scenarios for the housing market remain
and that the extent of the drop in housing ...
Posted in Uncategorized | No Comments »
Tuesday, May 27th, 2008
Some Fed speakers, the U.S. S&P Case-Shiller house price index, new
home sales and consumer confidence will complement the release of
Canadian employment insurance data on Tuesday morning.
At 8:15 a.m. EDT, Fed Governor Randall Kroszner (voter) will speak on
U.S. mortgage markets...
Read More Now
Posted in Uncategorized | No Comments »