Archive for March, 2009
Monday, March 23rd, 2009
Existing home sales climbed well above expectations on Monday, a welcome respite from the mostly dismal news on the U.S. housing sector. Existing home sales grew 5.1% in February against expectations for a 0.9% decline, and following a 5.3% drop in January...(read more)
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Monday, March 23rd, 2009
The U.S. Treasury is gearing up to unveil the details of the Public-Private Investment Program on Monday in a bid to provide support to the balance sheets of financial institutions and support the " toxic debt " market, which includes mostly...(read more)
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Thursday, March 19th, 2009
Mortgage interest rates dropped near record lows during the week ended March 19 according to information released by Freddie Mac Thursday morning. The mortgage data is based on results from Freddie's Weekly Mortgage Market Survey and showed that the...(read more)
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Thursday, March 19th, 2009
The Federal Reserve and Federal Deposit Insurance Corporation want to create systemic regulator in the United States and overhaul the financial system to prevent and limit impacts from financial crises, according to officials from both bodies. "It...(read more)
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Wednesday, March 18th, 2009
Under the category of "Some People Never Learn," both Freddie Mac and Fannie Mae are reportedly planning on paying huge bonuses to key executives this year in order to retain their services. The Associated Press is reported that Fannie Mae will...(read more)
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Wednesday, March 18th, 2009
The next bail out payment due from the U.S. Government to troubled insurance giant AIG will exclude the amount that was paid by the company to employees in new bonuses. In a letter written to congressmen on Tuesday, U.S. Treasury Secretary Timohty Geithner...(read more)
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Tuesday, March 17th, 2009
The Obama administration will try to be " creative " in finding a solution to the AIG bonus fiasco , the White House's economic adviser said on Tuesday. Speaking on CNBC, White House National Economic Council Chairman Lawrence Summers said...(read more)
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Tuesday, March 17th, 2009
The Federal Deposit Insurance Corporation extended a program that allows bank holding companies to issue government-backed debt on Tuesday. The FDIC extended the deadlines to issue debt and for the debt to expire by six months each for the Temporary Liquidity...(read more)
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Tuesday, March 17th, 2009
The U.S. housing sector showed unexpected strength in February, with housing starts and building permits both rising against expectations for continued declines. U.S. housing starts rose to an annualized pace of 583k, representing a month-over-month increase...(read more)
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Monday, March 16th, 2009
Confidence amongst home builders was unchanged in March, according to a report issued by Wells Fargo and the National Association of Home Builders (NAHB) on Monday. The housing market index came in at 9 in March, as expected, following the previous reading...(read more)
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