Tag Archives: market turmoil

Fed Buys Mortgage-Backed Securities

Over the past 25 years, we’ve had an explosion of fancy debt securities, many of them backed by mortgages of varying qualities. New York’s branch of the Federal Reserve said this week it had started buying these things to boost … Continue reading

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More Americans Taking Out Reverse Mortgages

Economic tough times makes senior citizens more open to taking out these mortgages. The general view of reverse mortgages is becoming more positive. Due to the stock market plunge, many people are seeing their retirement accounts wiped out. Report: BOSTON … Continue reading

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Fed Could Cut Again

Rates could go down to zero. Is easy money the way out of our credit crisis? It will hurt the dollar and that will raise oil prices. From the Telegraph in England: The statement accompanying the Fed’s decision pointed to … Continue reading

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What Will Be The Consequence Of All This Cheap Money?

Countries around the world are inflating the money supply. They’re printing mad money. What will happen? Why are we subsidizing our car companies? From NPR: The Federal Reserve cut interest rates for the second time in three weeks, slashing its … Continue reading

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Banks Still Spending Big Bucks On Lobbying Efforts

From the WSJ: WASHINGTON — The nation’s biggest financial institutions, hard-hit by the financial crisis, continued spending heavily to lobby lawmakers and regulators as the government scrambled to assemble its Wall Street rescue plan, congressional filings suggest. Merrill Lynch & … Continue reading

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Britain’s Struggles With Mortgage Slowdown

From the New York Times: Figures released on Thursday by HBOS, Britain’s largest mortgage lender, showed the housing market slump, which has been dragging down consumer confidence, is gathering pace. The average price of a property fell 8.8 percent in … Continue reading

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Jumbo Mortgages Not Helped Much By New Bill

From Business Week: If the bill passes, the limit on the size of loans that can be purchased by government-sponsored mortgage finance companies Fannie Mae and Freddie Mac will drop to $550,000 after spending 2008 at nearly $730,000. The economic … Continue reading

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World’s Refinance Woes

From the CBC: No single remedy was recommended to bolster the global economy, but Bank of Canada governor Mark Carney indicated further interest rate cuts are likely needed in Canada. The officials from the United States, Japan, Germany, France, Canada, … Continue reading

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A Chronology Of The Subprime Crisis

It started in the summer of 2007 in the United States and got rapidly worse, affecting the entire world credit market. (Reuters) – UBS AG doubled its writedowns from the subprime crisis on Tuesday, dumped its chairman and sought more … Continue reading

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Jumbo Mortgage Loan Rates Dropping Like April’s Cherry Blossoms

Mortgage lenders keep getting tighter.  From SFGate.com: Banks want borrowers to have higher credit scores, more and better proof of their income and assets, and higher down payments or equity stakes in their homes – especially in areas they deem … Continue reading

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