The Conference Board’s consumer confidence index fell
to 62.3 in April’s report on Tuesday, confirming declines seen earlier in
the month from other measures of consumer sentiment, yet coming in
slightly higher than the consensus expectation of 62.0.
Countrywide Financial Corporation logged in on
Tuesday with its third consecutive quarterly loss due to a sharp increase
it its provision for loan losses.
Housing price declines remain the greatest challenge to financial
markets and could prompt a deep recession, according to
Pimco’s Bill Gross.
Zillow has just inaugurated another aspect to its
real estate services portfolio.
Fears of inflation pushed mortgage rates higher
according to the results of Freddie Mac’s Primary Mortgage Market Survey
for the week ended April 24.
The Federal Reserve announced Wednesday that it cut
the Fed funds target rate by 25 basis points to bring
the key interest rate to 2.00%. The discount rate was also cut by 25
basis points to 2.25%.
According to a report from the U.S. Commerce Department,
construction spending in the United Sates declined 1.1%
month-over-month in March.
With the House and Senate working to hammer out differences in their
respective approaches to solving the housing/credit crisis, problems are
already emerging with other solutions proposed or enacted tackle pieces
of the problem.
In a letter to U.S. Senator Chris Dodd, Fed Chairman Ben
Bernanke said it is impossible to tell when markets will
normalize and that the Fed is constantly reviewing its monetary policy
tools to make them more effective.
Speaking to the Securities Industry and Financial Markets Association
in Chicago on Thursday, U.S. Assistant Secretary for Financial Markets
Anthony W. Ryan said failures in transactions of
treasuries had increased over the last twelve months and called
on investors to help prevent such events from occurring.
Today’s weather forecast is mostly about rain. There’s a 50 to 60 percent chance of it falling in the Treasure Coast and Palm Beaches sometime this afternoon, according to the National Weather Service. More local news Latest breaking news, photos and San Diego Beaches Reopen After 72-Hour Advisory Lifted Following Fatal […]