Mortgage activity dips last week in March
April 2, 2008
The Mortgage Bankers Association announced this morning that applications for mortgage loans, on a seasonally adjusted basis, decreased 28.7 percent last week when compared to the week prior.
Central Bank Watch: Bernanke Warns of U.S. Contraction
April 2, 2008
The main highlights of the week so far in central bank-related news
included Fed Chairman Ben Bernanke’s testimony on the U.S. economy and
financial markets on Wednesday, along with the Reserve Bank of
Australia’s decision to hold rates at 7.25%. There were also some central
bank speakers, including the Bank of Canada’s deputy governor Paul
Jenkins, who spoke on Wednesday.
Hope Now's Successes May be Over Rated
April 2, 2008
According to a story written by Lynnley Browning in Wednesday’s New
York Times, Hope Now, the White House’s initial answer
to the country’s mounting foreclosures, is failing to provide much help
to struggling homeowners, largely because it is operated by the very
people who caused the problem in the first place.
U.S. Mortgage Applications Drop 28.7%, Refinances Fall 38.1%
April 2, 2008
Mortgage applications in the U.S. fell 28.7% in the
week ending March 28, with the market composite index decreasing to 688.3
from 959.9 a year ago, according to the Mortgage Bankers Association’s
(MBA) Weekly Mortgage Application Survey released Wednesday.
Plenty More Subprime Fallout to Come, Says CIBC's Rubin
April 2, 2008
Losses from the U.S. subprime mortgage meltdown could
top $300 billion, an economist from one of Canada’s major banks told a
Toronto real estate conference on Wednesday.
Fed's Bernanke Defends Bear Stearns Bailout, Paints Glum Economic Picture
April 2, 2008
Federal Reserve Chairman Ben Bernanke Wednesday
touched on a variety of factors contributing to the current weak state of
the U.S. economy, but also defended the Fed’s recent actions to
facilitate a deal that prevented a major investment bank from
collapsing.
As extra red-light cams went up, Houston tickets went down
April 2, 2008
Red-light camera citations have decreased steadily since Houston police boosted their monitoring at intersections six months ago, newly released records show. The number of citations declined by a third, to 17,000 last month from a high of 27,000 in October all after police added an extra 20 cameras and began fining motorists […]
Saving Money While Traveling
April 2, 2008
I was just recently doing a bit of traveling. If there is one thing I learned all over again, it’s that vacations can be expensive. Whether you are just trying to get away for the weekend, or planning an all out adventure, there are some simple things you can do to stretch your money.