May 27
The release of the Federal Open Market Committee’s (FOMC) March 31-
April 30 minutes show seven district banks had voted for no change in the
discount rate in an effort to slow inflation.
May 27
If you find that you’d save money in the first 5 years by taking a 5 year ARM instead of a 30 year fixed - and you believe the likelihood of you moving in five years is high - taking the ARM makes a great deal of financial sense.
May 27
Bob Walters, chief economist for Quicken Loans, says he is not surprised by the reports findings considering that credit remains extremely tight.
May 27
Mortgage rates are initially set by lenders at a starting point. The interest rate you get may not be the same. Find out what factors go into figuring out which mortgage rate lenders offer you.
May 27
The U.S. Census Bureau and the Department of Housing and Urban Development announced today that sales of new, single-family homes saw an increase.
May 27
In an interview with CNBC, Treasury Secretary Henry
Paulson said that the U.S. has been in a rough patch but is
coming closer to the end of the current credit crisis.
May 27
U.S. existing home sales, comments from Canadian Finance Minister Jim
Flaherty, and the release of the National Bank of Belgium’s business
confidence index for May are the highlights of Friday’s economic events
as the United States prepares for the Memorial Day weekend with early
closes in fixed income and equities.
May 27
CEP News) - U.S. existing home sales decreased to
4.89 million units in April following March’s revised sales figure of
4.94 million. This is the second month that home sales have remained
under the 5 million mark.
May 27
The S&P Case-Shiller home price index for Q1
continued to deteriorate with the 20-city composite index posting a
record annual decline of 14.1%. In March, the index also declined by an
annualized 14.4%. The Case-Shiller index has fallen every month since
peaking in July 2006.
May 27
New home sales in April rose for the first time in
five months, increasing 3.3% to 526k following a downward revision of the
March reading to 509k. The previous month’s reading was previously
reported as 526k, which was the lowest level since October 1991.
Economists had expected a reading of 523k.
May 27
Speaking in an interview with the Financial Times on Monday, former
Fed Chairman Alan Greenspan said the chance of a
recession in the United States was above 50% but that probability was
pulling back somewhat.
May 27
The Conference Board’s consumer confidence index for
May fell more than expected to 57.2 in Tuesday’s report, led by a 5.5-
point decline in the present situation component.
May 27
Some Fed speakers, the U.S. S&P Case-Shiller house price index, new
home sales and consumer confidence will complement the release of
Canadian employment insurance data on Tuesday morning.
May 27
San Francisco Fed President Janet Yellen (non-voter) said rates
are “appropriate” for encouraging growth and that the real Fed funds rate
is near zero.
May 27
Mortgage News Daily received an email this week from a reader with an
intriguing idea for, if not solving, at least lessening the foreclosure
crisis. What we loved about it was its simplicity.