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Thursday, September 11
US mortgage rates weekly drop most in over 28 yrs
by
bewarethesharks
on Thu 11 Sep 2008 15:41 BST
Interest rates on U.S. 30-year fixed-rate mortgages fell by 0.42 percentage point in the latest week, the biggest weekly drop in more than 28 years, according to a survey released on Thursday by home funding company Freddie Mac. The drop, which drove 30-year fixed rates to an almost five-month low, ... more » Wednesday, August 13
Credit crisis halfway over "at best"
by
bewarethesharks
on Wed 13 Aug 2008 15:18 BST
A year-long credit crisis may be only halfway over and defaults of prime mortgages and problems at U.S. bond insurers are expected to exert a drag on future bank earnings, Standard & Poor's said on Wednesday.
Defaults and late payments for mortgages known as Alt-A securities and prime mortgages are ... more » Thursday, May 29
America's house prices are falling even faster than during the Great Depression
by
bewarethesharks
on Thu 29 May 2008 18:47 BST
AS HOUSE prices in Wednesday, May 28
House prices suffer record annual fall
by
bewarethesharks
on Wed 28 May 2008 18:44 BST
The gloom enveloping the The S&P/Case Shiller national house price index fell 14.1 per cent in the first quarter of this year, compared with the same period a year earlier, ... more » Tuesday, May 27
US house prices in sharpest fall for 20 years
by
bewarethesharks
on Tue 27 May 2008 19:40 BST
American house prices are collapsing almost five times as quickly as during the last Residential property values fell 14.4 per cent over the first quarter of 2008 compared with the same three months ... more » Tuesday, May 6
Odds of further rate cuts increase after Fed's latest moves
by
bewarethesharks
on Tue 06 May 2008 11:33 BST
The odds of further interest rate cuts increased after the Federal Reserve's latest moves, and after policy setter said financial market stress, tight credit and housing weakness was likely to continue over the next few quarters. July fed funds futures rose 0.05 points to 98.04, which implies a 16% chance ... more » Sunday, May 4
Washington must do more to help housing market
by
bewarethesharks
on Sun 04 May 2008 15:23 BST
The government must actively intervene in the domestic housing market to fix the subprime mortgage problems that interest rate cuts and tax rebates alone cannot, a Federal Housing Finance Board official said on Sunday.
Allan Mendelowitz, a member of the Board of Directors of the FHFB -- a regulatory agency ... more » Wednesday, April 30
Fed cuts key rate to 2% but urges caution over inflation
by
bewarethesharks
on Wed 30 Apr 2008 15:53 BST
The US central bank cut interest rates last night for the seventh time since last summer as it sought to combat the impact of a collapsing housing market and the credit crunch on the world's biggest economy. The Federal Reserve's open market committee voted unanimously for a quarter-point cut in ... more »
US economy 'just keeps its head above water'
by
bewarethesharks
on Wed 30 Apr 2008 14:30 BST
The US economy grew 0.6% in the first three months of the year as an increase in inventories compensated for weaker consumer spending and a deteriorating housing market. Despite beating analysts expectations, the Commerce Department's report shows a widespread weakening that many analysts fear will lead to a recession. However, ... more » Tuesday, April 29
'No sign of a bottom' in US property prices
by
bewarethesharks
on Tue 29 Apr 2008 14:37 BST
More worries over the credit crunch arrived today as 17 out of 20 US cities reported record annual declines in house prices, a survey release today showed. Standard & Poor's/Case Shiller Index, which tracks 20 of the largest housing markets, said prices fell 2.6% to 175.94 in February from January, ... more » Thursday, April 24
New US home sales hit 17-year low
by
bewarethesharks
on Thu 24 Apr 2008 15:31 BST
New home sales plunged to a 17-year low in March as tighter credit conditions and weakening consumer confidence kept prospective buyers on the sidelines in spite of sharp price declines. Single-family home sales slumped 8.5 per cent in March to a 526,000 annual rate, the lowest since October 1991, 36.6 ... more » Monday, March 24
U.S. existing home sales post surprise rise
by
bewarethesharks
on Mon 24 Mar 2008 10:35 GMT
Sales of U.S. existing homes rose in February for the first time since July as prices posted a record drop from their year-ago level, but economists said it was unlikely the market had reached a bottom. The National Association of Realtors on Monday said sales of previously owned homes rose ... more » Thursday, March 20
US housing market given $200bn lift with extra cash for Fannie Mae and Freddie Mac
by
bewarethesharks
on Thu 20 Mar 2008 17:27 GMT
About $200 billion (£99.6 billion) of extra mortgage financing is to be made available to would-be homeowners in the United States after a key regulator reduced the amount of capital that the two biggest housing financiers must hold in reserve. The Office of Federal Housing Enterprise Oversight has reduced the ... more » Sunday, March 16
Bear Stearns crisis sparks UK recession fears
by
bewarethesharks
on Sun 16 Mar 2008 17:22 GMT
Millions of British households face soaring mortgage rates and tumbling house prices after the global financial crisis triggered the near-collapse of one of the world's biggest banks. Experts warned that there is now an increased likelihood of a recession and a painful housing slump, after Bear Stearns - America's fifth ... more » Wednesday, March 5
US economy in slowdown says Fed
by
bewarethesharks
on Wed 05 Mar 2008 23:47 GMT
The The report also cited rising materials and energy prices, ... more » Thursday, February 28
GDP data confirms weak US growth
by
bewarethesharks
on Thu 28 Feb 2008 15:46 GMT
Wednesday, February 27
Dollar falls to record euro low
by
bewarethesharks
on Wed 27 Feb 2008 16:42 GMT
The dollar has fallen to a record low against the euro as traders bet that further interest rate cuts will be needed to stem a Tuesday, February 26
More gloom for the US housing market
by
bewarethesharks
on Tue 26 Feb 2008 16:43 GMT
Prices of existing single-family homes in the Home prices fell 8.9% in the fourth quarter from a year ago, the largest decline in the two-decade history of the S&P/Case-Schiller index of ... more » Thursday, February 21
US Fed slashes growth forecasts
by
bewarethesharks
on Thu 21 Feb 2008 17:25 GMT
The US Federal Reserve has slashed its growth forecast for the The Wednesday, February 20
US consumer confidence plummets
by
bewarethesharks
on Wed 20 Feb 2008 16:52 GMT
Confidence among US consumers has fallen to a 16-year low, as fears grow about a recession and job cuts, a closely-watched survey has found.
The The report said the index had only ... more » Tuesday, February 12
US economy 'will avoid recession'
by
bewarethesharks
on Tue 12 Feb 2008 15:38 GMT
The Friday, February 8
More gloom for US housing market
by
bewarethesharks
on Fri 08 Feb 2008 14:32 GMT
The number of pending home sales in the The index, compiled by the National Association of Realtors, fell to its second lowest reading on record. The data measures deals where ... more » Tuesday, January 22
US interest rates cut by 0.75%
by
bewarethesharks
on Tue 22 Jan 2008 15:15 GMT
The US Federal Reserve said it was reducing its key federal funds rate to 3.5 per cent "in view ... more » Tuesday, January 15
Dollar falls ahead of key US data
by
bewarethesharks
on Tue 15 Jan 2008 16:30 GMT
The dollar has edged towards seven-week lows against both the yen and the euro on fears of poor US retail sales data and banking results later on Tuesday. With any weak figures set to increase expectations of a further cut in US interest rates, the dollar had fallen to 107.75 ... more » Friday, January 11
‘Zero US effort’ on housing slammed
by
bewarethesharks
on Fri 11 Jan 2008 15:17 GMT
Angelo Mozilo, chief executive of Countrywide Financial, on Monday strongly criticised the US government’s response to the collapse of the subprime lending market, saying there had been “zero” effort to tackle the crisis. “In terms of tangible effort from the federal government...there has been no programme, no federal ... more » Wednesday, January 9
Fed ‘caught off guard’ by rate of US slowdown
by
bewarethesharks
on Wed 09 Jan 2008 17:03 GMT
The scale of the housing slump across the
The minutes from the December 11 meeting of the Fed’s interest-rate-setting committee ... more » Monday, January 7
Action urged over US economy woes
by
bewarethesharks
on Mon 07 Jan 2008 16:59 GMT
Top economists have warned that a
Former US Treasury Secretary Lawrence Summers, called for a $75bn (£38bn) package to help stimulate the economy. And National Bureau of Economic Research president, Martin Feldstein said that the chances of a ... more » Tuesday, December 18
Confidence in US housing market spirals lower
by
bewarethesharks
on Tue 18 Dec 2007 12:30 GMT
Permits for new home builds in the The number of home building projects that were started in November also took a big hit, in yet another sign ... more » Thursday, December 13
US rates reduced for third time
by
bewarethesharks
on Thu 13 Dec 2007 09:23 GMT
The Federal Reserve has cut US interest rates from 4.5% to 4.25% to help steer the world's largest economy through a housing slump and credit woes. It is the third rate cut in the US in as many months, leaving US rates 1% lower than their August peak. A downward ... more » Thursday, November 22
US housing woes continue as building demand falls to 14-year low
by
bewarethesharks
on Thu 22 Nov 2007 17:05 GMT
The number of homes built in the United States is set to decline further as the volume of housebuilding permits fell to a 14-year low last month. The demand for construction permits, which is directly linked to the outlook for the housing market, fell by 6.6 per cent in October ... more » Wednesday, November 21
Dollar hit by fresh weakness
by
bewarethesharks
on Wed 21 Nov 2007 10:39 GMT
The dollar fell to a twelve-year low against the Swiss franc and lost ground against the yen on Monday as fears over the health of the Analysts said weak |
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