Archive for January, 2009
Tuesday, January 27th, 2009
The Treasury Department announced it would infuse $386 million into 23 banks across the nation as part of its Capital Purchase Program (CPP) on Tuesday. The plan will put capital directly "into healthy, viable banks with the goal of increasing the...(read more)
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Tuesday, January 27th, 2009
Wasting no time in his new position at the U.S. Treasury, Secretary Timothy Geithner announced "several key reforms" to the Emergency Economic Stabilization Act (EESA) on Tuesday. Citing "President Barack Obama's firm commitment to...(read more)
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Tuesday, January 27th, 2009
The S&P Case-Shiller home price index fell in line with expectations in November as the 20-city composite index posted a decline of 18.18% to a reading of 154.59. Economists had forecast a 18.40% drop. The three-month annualized rate of decline was...(read more)
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Monday, January 26th, 2009
Timothy Geithner was confirmed as U.S. Treasury secretary by the Senate Monday night. Despite outbursts of Republican opposition throughout the day from Senators, including Oklahoma's James Inhofe and South Dakota Senator John Thune, Geithner's...(read more)
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Monday, January 26th, 2009
The housing market performed miserably in 2008, but the final month of the year showed an upside surprise in sales of previously-owned homes against expectations of a third consecutive monthly decline. The pace of existing home sales jumped 6.5% in December...(read more)
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Monday, January 26th, 2009
The pace of sales for existing homes in the United States came in much better than market expectations in December, according to an industry survey released Monday. Existing home sales rose to an annualized pace of 4.74 million units in December, marking...(read more)
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Friday, January 23rd, 2009
The Obama administration's Treasury Secretary-designate Timothy Geithner is calling for " sweeping changes " to the regulatory structure overseeing the financial system. "We are going to need sweeping changes, in regulatory policy,...(read more)
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Thursday, January 22nd, 2009
After grilling Timothy Geithner throughout the day on Wednesday, the U.S. Senate Finance Committee voted 18-5 in favour of his nomination to become Secretary of the Treasury. His full confirmation from the Senate is expected next week. Geithner, 47, will...(read more)
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Thursday, January 22nd, 2009
Freddie Mac released the results of its Primary Mortgage Market Survey for the week ended January 22 on Thursday morning. For the first time since the week ended October 30, rates were on the increase. The 30-year fixed-rate mortgage (FRM) carried an...(read more)
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Thursday, January 22nd, 2009
Weekly mortgage applications in the United States fell in the week ending Jan. 16, according to data released from the Mortgage Bankers' Association (MBA) on Thursday, which reported a 9.8% week-over-week decrease in applications. In the previous...(read more)
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