Archive for the 'Mortgage News' Category
Foreclosures Loom as Possible Public Health Menace
It seems tough to believe, but there appears to be yet one more thing
for which we can blame the mortgage crisis. And that is
not a financial problem; it is a public health concern.
Several cable networks have reported by the final few weeks that the
hundreds of foreclosed houses covering suburb…
NAHB Builder Confidence Remains at Record Low in August
A report from Wells Fargo and the National Association of Home
Builders (NAHB) suggests that homebuilders remained at record-
gloomy levels in August as the housing market index, which measures
builder confidence, stayed at a record low of 16.
Read More Now
Original post by Mortgage News Dail…
Still No End in Sight for Falling U.S. House Prices, Says Scotiabank Report
U.S. house prices still have room to fall, according
to a report on real estate trends issued by Scotiabank economists.
The report notes that while the rate of decline has moderated since
the spring, sales in the month of June fell to 5.4 million units, a 35%
decline since prices hit their peak …
Monday’s Events: Cdn Securities Transactions and Travel; U.S. NAHB Housing Index
The week kicks off with two Statistics Canada reports, one on
securities transactions and another on travel amoung Canada and other
countries. Meanwhile in the U.S., the NAHB housing market
index will indicate how the sector is holding up in August after
hitting a historic low in final month’s r…
Fed Fund Futures Expect Slim Chance of Rate Hike in approach-Term
The Fed fund futures market expectations of a rate
hike continue to decrease after today’s modest rise in the
University of Michigan’s consumer sentiment index.
Markets are currently pricing in an 88% chance of no rate hike for the
Sept. 16 assembly. that is a 2% increase from yesterday’s 86% r…
Alan Greenspan Sees Housing Prices Sort of Hitting Bottom in mid-2009
Greenspan said that he expects housing prices to start to
stabilize in the first half of 2009 although they could continue
to drift lower for fairly some date thereafter, even after essentially
reaching bottom.
Greenspan, however, is not changing his long-standing belief that
Freddie Mac and Fa…
Fed’s Evans Said U.S. Economy Faces Three-Front Battle
The downside risks to growth have recently risen and the economy is
expected to be “extremely sluggish” in 2008, according to one Fed
official on Friday.
Chicago Fed President Charles Evans (non-voter) said
the U.S. economy faces a triple-front threat as growth risks are on the
rise, inflation …
Economists Dismiss Boost in U.S. Industrial Production Report
Economists say the unexpected boost in the Fed’s industrial
production report doesn’t change the overall trend in the
economy, which is clearly on a downward slope. The report unexpectedly
rose 0.2% in the month of July, against expectations that it would come
in flat, while the preceding month’…
U of Michigan Reuters Consumer Sentiment Improves Half a Point in August
The preliminary consumer sentiment survey from
Reuters & the University of Michigan improved half a point to 61.7,
following the preceding month’s approach five-point rebound. additionally, one-year
inflation expectations moved down to 4.8% from July’s 5.1% forecast.
The slight improvement c…
Fed’s Stern Says 1990s Recession Offers Valuable Guide to Current Turmoil
The current profitable turmoil is comparable to the early
1990s, which can be a valuable guide to understanding what’s
next as the U.S. economy seeks to rebound into healthy growth, according
to one Fed official on Thursday.
Minneapolis Fed President Gary Stern, a voter on the
FOMC who is known…
Metropolitan Home Prices Decline Nearly 8% in Q2, Sales at 10-year Low
Prices of homes in the United States fell by an
average of 7.6% in the moment quarter of 2008, compared to the preceding
year, as 115 of the 150 metro areas surveyed saw declines, according to a
new release from the National organization of Realtors.
Read More Now
Original post by Mortgage Ne…
Foreclosures Continue To Climb in July, Says Realty Trac Report
U.S. home foreclosures jumped by 55% from the
preceding month’s year-over-year results, according to RealtyTrac’s July
2008 U.S. Foreclosure Market Report.
There were 272,171 foreclosure filings in the month of July, an 8%
increase from the prior month. According to RealtyTrac, one in every 464 …
July Core CPI Up 0.3% as Total Inflation Rises 0.8%
The seasonally adjusted Consumer Price Index rose
more than expected on both fronts, as the core rate ticked up 0.3%
(0.327%) in July, contributing to a 2.5% year-over-year change. Total
inflation rose 0.8% (0.818%) in the month and 5.6% on the year, according
to details released by the U.S. Lab…
Fixed Income Futures Rise on Weekly Jobless Claims
Ignoring a higher CPI report, U.S. fixed income markets took worse-
than-expected jobless claims figures at face value on
Thursday, with bonds increasing on the arguably soft notes.
Initial claims for unemployment benefits in the United States dropped
back slightly to 450K in the week ending Aug….
