Archive for November, 2008
Friday, November 28th, 2008
Robert Shiller , a well-known economist and professor at Yale University, said the ongoing financial crisis could last for years. He said blaming monetary policy for the crisis is simplistic and misleading, and called for three solutions to prevent a...(read more)
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Wednesday, November 26th, 2008
Interest rates on the 30-year fixed-rate mortgage (FRM) drifted back under 6 percent last week according to the results of Freddie Mac's Primary Mortgage Market Survey released Wednesday morning, a day ahead of the usual schedule due to the Thanksgiving...(read more)
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Wednesday, November 26th, 2008
New home sales in the U.S. fell more than expected, declining 5.3% in October to an annual pace of 433k, according to a report from the Commerce Department on Wednesday. The previous month's gain was revised downward to 0.7%. Economists were expecting...(read more)
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Wednesday, November 26th, 2008
Weekly mortgage applications in the United States increased in the week ending Nov. 21, according to data released from the Mortgage Bankers' Association (MBA) on Wednesday, which reported a 1.5% week-over-week rise in applications. In the previous...(read more)
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Tuesday, November 25th, 2008
Citigroup CEO Vikram Pandit said short sellers and plummeting confidence in the financial system are to blame for the plunge in Citigroup's stock last week. In an interview with the Charlie Rose Show, Pandit said his company is not too big to manage...(read more)
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Tuesday, November 25th, 2008
It's another busy day Wednesday ahead of the Thanksgiving holiday, with the release of U.S. personal income , the PCE Core Deflator , new home sales , durable goods and weekly jobless claims . U.S. durable goods are expected to fall 3.0% in October...(read more)
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Tuesday, November 25th, 2008
More gloomy news for the housing market is expected with the release of the U.S. new home sales report for October, which is expected to reach a 17-year low. Economists polled by Bloomberg expect new home sales to fall a further 5% to an annualized pace...(read more)
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Tuesday, November 25th, 2008
President-elect Barack Obama added two figures to his economic cabinet , naming Peter Orszag as his White House budget director and Robert Nabors as Orszag's deputy, at a press conference on Tuesday. Since January 2007, Orszag has been director of...(read more)
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Tuesday, November 25th, 2008
Treasury Secretary Henry Paulson said that additional measures announced by the Federal Reserve and Treasury Tuesday morning are aimed at aiding the U.S. housing market and restoring affordable bank lending to consumers and small businesses. It was announced...(read more)
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Tuesday, November 25th, 2008
Net income from U.S. banks totalled $1.7 billion in the third quarter, according to the Federal Deposit Insurance Corporation on Tuesday, who added that the figure represents a 94% decline in banking income compared to twelve months ago. The report cited...(read more)
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