Federal Reserve Initiates Emergency Rate Cut
October 9, 2008
Early this morning the Federal Reserve, in conjunction with the European Central Bank, Bank of England, and Swiss, Canadian and Swedish banks, initiated a ½ point global rate cut in an effort to calm roiling global financial markets.
A Solution That Works - Quicken Loans Chairman Dan Gilbert’s Proposal To Fix The Housing Crisis
October 9, 2008
We'd like to offer a solution for the housing crisis straight from the Quicken Loans Chairman, Dan Gilbert. For the full story and to get involved, please visit www.ASolutionThatWorks.com.
$700 Billion Bailout Approved With Some Changes
October 9, 2008
Early this week, it seemed like Congress would never come to an agreement about the much-buzzed-about financial bailout. But there was a meeting of minds today and one of the most historic Government moves of all time was set into place.
Uncle Sam Rescues Fannie Mae and Freddie Mac - Quicken Loans Podcast Series
October 9, 2008
Welcome to the latest in a new series of audio news stories from Quicken Loans Relationship Marketing Manager Mark Smith. Today's podcast is titled “Uncle Sam rescues Fannie Mae and Freddie Mac” and details the Federal Government's bailout of mortgage giants Fannie Mae and Freddie Mac.
In Spite of Low Mortgage Rates, Wall Street Worries Drive Down National Mortgage Activity
October 9, 2008
Mortgage rates have remained low, but ongoing financial unrest on Wall Street continues to have a negative impact on the national mortgage market.
Buying A Foreclosed Home. Good Investment or Risky Business?
October 9, 2008
With current market conditions spurring foreclosures, it only makes sense that buyers would want to take advantage of housing prices well under market value. But what’s the deal? Is this idea way too good to be true? Does buying a home that’s been foreclosed on make you a Good Investor or a Risk Taker? Here we'll explore the pros, cons and precautions to take when buying a foreclosed home.
Even With Lower Long-Term Mortgage Rates, New Home Sales Dip in Latest Report
October 9, 2008
The U.S. Census Bureau and the Department of Housing and Urban Development today announced that sales of new, single-family homes fell in the month of August, decreasing 11.5% from July’s numbers.
Existing Home Sales See Slight Decline, FHA Loans May Be Silver Lining
October 9, 2008
The National Association of Realtors announced today that existing home sales in August were down 2.2 percent as compared to July 2008.
Despite Falling Mortgage Rates, National Mortgage Applications Lower Last Week
October 9, 2008
Despite rates remaining low, the surge of applications from the previous week did not continue, according to a report released today by the Mortgage Bankers Association.
Wall Street vs. Main Street - What Will The Government’s Bailout Package Do For You?
October 9, 2008
To battle America's looming financial crisis, The Bush Administration has proposed a $700 billion package - but what's in it for you?
Central Banks Announce Coordinated Interest Rate Reductions
October 9, 2008
OTTAWA, Ontario, October 08, 2008 — Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets.
Inflationary pressures have started to moderate in a number of countries, partly reflecting a marked decline in energy and other …
Treasury Likely to Take Bank Equity Stakes
October 9, 2008
The U.S. Treasury will use a portion of the Troubled Asset
Relief Program (TARP) to take equity stakes in financial
institutions, according to the White House.
Most Mortgage Rates Drop Reflecting Bond Yields
October 9, 2008
With the exception of the one-year adjustable rate mortgage (ARM)
mortgage rates fell during the week ended October 9 according to Freddie
Mac’s Primary Mortgage Market Survey.
Housing Starts Remained Strong in September
October 9, 2008
OTTAWA, Ontario, October 08, 2008 — The seasonally adjusted annual rate1 of housing starts was 217,600 units in September, up slightly from 217,400 units in August, according to Canada Mortgage and Housing Corporation (CMHC).
“Housing starts remained at a high level in September, with construction activity again staying above the 200,000 unit threshold.” said Bob Dugan, Chief …
RTC could be Rescue Plan Role Model
October 9, 2008
It is just beginning, but count on the name Resolution Trust
Corporation being invoked more and more as the Treasury
Department figures out how to approach its mandate to straighten out the
economy and spend the billions of dollars Congress has put in its
hands.
Crisis Taking Toll on U.S. Consumer Confidence, RBC Survey Shows
October 9, 2008
In its largest single monthly decline, RBC’s Consumer
Attitudes and Spending by Household (CASH) Index showed the
economic crisis is driving down consumer confidence in the U.S.
AIG Assumes Additional $37.8 Billion Loan
October 9, 2008
On Wednesday evening, the U.S. Federal Reserve authorized an
additional $37.8 billion loan to U.S. insurance giant American
International Group after authorities took the firm into conservatorship
and provided it with an $85 billion loan in September.
Jobless Claims Continue to Suggest Recession, Economists Say
October 9, 2008
Economists say the worrying trend of jobless claims
adds further evidence that payrolls will continue to decline for many
months. The weekly report showed continuing claims reached a cyclical
high, while initial claims fell back from a seven-year peak but remain in
deep recessionary territory.
Federal Reserve Initiates Emergency Rate Cut
October 9, 2008
Early this morning the Federal Reserve, in conjunction with the European Central Bank, Bank of England, and Swiss, Canadian and Swedish banks, initiated a ½ point global rate cut in an effort to calm roiling global financial markets.
A Solution That Works - Quicken Loans Chairman Dan Gilbert’s Proposal To Fix The Housing Crisis
October 9, 2008
We'd like to offer a solution for the housing crisis straight from the Quicken Loans Chairman, Dan Gilbert. For the full story and to get involved, please visit www.ASolutionThatWorks.com.