Archive for March, 2009
Tuesday, March 31st, 2009
It looks like the mortgage soap opera may be well into a new act and one doomsayer is predicting that there is a rotund woman with a horned helmet and a spear waiting in the wings. Iris Martin, writing in the Huffington Post on Monday set forth her claim...(read more)
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Tuesday, March 31st, 2009
The S&P Case-Shiller U.S. home price index fell more than expected in January, with prices down nearly 20% from a year ago. The 20-city composite index posted a decline of 18.97% to a reading of 146.40. Economists had forecast an 18.60% drop. The...(read more)
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Thursday, March 26th, 2009
For the third time in 2009 mortgage interest rates hit a new record low according to results of Freddie Mac's Primary Mortgage Market Survey released this morning. During the week ended March 26 the 30-year fixed-rate mortgage (FRM) averaged 4.85...(read more)
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Thursday, March 26th, 2009
The U.S. Treasury Department wants to impose more stringent rules and regulations on large, systemically critical institutions in the United States, as well as the authority to unwind such firms in the event of a possible collapse. In testimony to the...(read more)
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Wednesday, March 25th, 2009
Bank of America might need another injection of capital from the U.S. government, Moody's Investor Service said after a downgrade. Moody's cut the bank's senior debt to A2 from A1, the senior subordinated debt to A3 from A2, and the junior...(read more)
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Wednesday, March 25th, 2009
The U.S. banking system is facing "serious challenges", but the Federal Reserve will continue "to ensure that the banking system remains safe and sound and is able to meet the credit needs of our economy," Fed Governor Elizabeth Duke...(read more)
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Wednesday, March 25th, 2009
New home sales in the U.S. unexpectedly rose in February, the Department of Commerce reported Wednesday. Meanwhile, the median sale price continued to fall. New home sales rose to an annualized pace of 337k, a 4.7% increase from January, the report said...(read more)
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Tuesday, March 24th, 2009
U.S. house prices unexpectedly advanced in January, according to a report from the Federal Housing and Finance Administration on Tuesday. The report showed a 1.7% month-over-month increase in U.S. house prices following a downwardly revised 0.2% decline...(read more)
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Monday, March 23rd, 2009
Federal Deposit and Insurance Corporation (FDIC) head Sheila Bair said Monday that some U.S. financial institutions may be beyond help from U.S. government agencies, and some banks will close. In a conference call with reporters, Bair touted the U.S....(read more)
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Monday, March 23rd, 2009
White House Economic Advisor Lawrence Summers said Monday that there is substantial private investor interest in the government's public and private partnership plan to take bad assets off banks' balance sheets. Stocks rallied following the announcement...(read more)
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