Archive for July, 2009
Friday, July 31st, 2009
Market reaction has been mixed since it was confirmed that second-quarter GDP contracted at a much slower pace than the in the prior quarter. The data suggests the recession is coming to an end, but the view ahead is far from clear and rosy.
Although stock indexes look ready to end ...
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Thursday, July 30th, 2009
Department of Housing and Urban Development (HUD) Secretary Shaun Donovan released new guidelines on Thursday for FHA's Affordable Modification Program to bring it into compliance with The Helping Families Save Their Homes Act of 2009 signed by President Obama in May.
...(read more)
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Thursday, July 30th, 2009
Mortgages rates rose across the board during the most recent week according to data released by both Fannie Mae and Freddie Mac. Freddie Mac's vice president says that bond Rates and more rosy economic news helped to fuel the increases.
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Thursday, July 30th, 2009
After a two-day pause on Tuesday and Wednesday, markets are continuing the rally that began three weeks ago. Midway through Thursday, markets are up close to 2%, with the Nasdaq crossing the 2,000 mark for the first time since October....(read more)
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Wednesday, July 29th, 2009
It’s adding up to be a pretty bad day for markets as new orders for durable goods tumbled, demand for mortgage applications shrunk, the Chinese stock market dropped precipitously, crude oil continues to weaken, and earnings were soft all around....(read more)
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Wednesday, July 29th, 2009
Mortgage rates climbed for the second straight week, pulling down demand for mortgage applications, particularly for refinancing, according to a weekly industry survey.
The Mortgage Bankers Association said average rates for a 30-year mortgage moved up 0.05 percentage points to 5.36% in the week ending July 24, which follows a rebound ...
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Tuesday, July 28th, 2009
Housing data was positive this morning but markets are reeling from mixed earnings reports and weak consumer confidence. Ninety minutes into the session, all three major indexes are trading lower, following 11 days of rapid gains.
As of 11:00, the S&P 500 is the worst of the bunch, down 0.52% at ...
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Tuesday, July 28th, 2009
Home prices across the nation improved for their fourth consecutive month in May but remain about 17% lower than one year ago, according to the S&P Case-Shiller Home Price Index.
The 10-City and 20-City Composites are 16.8% and 17.1% lower, respectively, compared to May 2008. Historically, those are major declines, but ...
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Monday, July 27th, 2009
Markets jumped in the minutes after the New Home Sales report posted its biggest one-month leap in eight year, as of noon in Monday’s session all three markets have dipped back into the red. However, markets shot up more 11% over the past two weeks, so the minor decline ...
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Monday, July 27th, 2009
The morning began with great news for the housing market. Sales of new single-family homes shot up 11% in June ― the biggest one-month jump in eight years ― bringing the annual pace of sales to 384,000, well above the market consensus of just 350,000.
“This report along with recent ...
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