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Treasury Secretary Geithner Says World Needs U.S. to Recover
U.S. Treasury Secretary Timothy Geithner said Wednesday that the U.S. bears the brunt of responsibility for causing the financial crisis, and that the country's economy needs to recover in order for the rest of the global economy to bounce back. Speaking…(read more) More: continued here
Continue reading...House Prices Climb Unexpectedly in February
23. April 2009
House prices unexpectedly rose in February, according to a report from the Federal Housing and Finance Administration on Wednesday. The report showed a 0.7% month-over-month increase in U.S. house prices, following a downwardly revised 1.0% increase in…(read more) More: continued here
Continue reading...Geithner Says Most Banks Have Sufficient Capital
22. April 2009
The majority of U.S. banks have more capital than they need, Treasury Secretary Timothy Geithner said before the TARP's Congressional Oversight Panel on Tuesday. Uncertainties surrounding the banking system have caused banks to withhold loans, the…(read more) More: continued here
Continue reading...IMF Expects $4.1 Trillion in Credit Losses Worldwide
22. April 2009
Global losses from the credit crisis could exceed $4.1 trillion by the end of 2010, according to a report from the International Monetary Fund (IMF) released on Tuesday morning. The IMF raised its projection for $1.4 trillion in credit losses from U.S…(read more) More: continued here
Continue reading...The Day Ahead: BOC Rate Decision, Geithner Speaks
21. April 2009
The Bank of Canada will hold its monetary policy meeting on Tuesday, and economists are mixed over whether the central bank will cut rates or introduce quantitative easing measures. However, most agree forecasts for economic growth will be downgraded…(read more) More: continued here
Continue reading...Low Price, Low Rate, Sky-High Fees
18. April 2009
House prices and mortgage rates are down, which sounds great for buyers and refinancers. But a series of underwriting and appraisal changes taking effect this month is throwing new obstacles in the way of borrowers and loan officers. More: continued here
Continue reading...Interbank Lending Rates Fall After CNBC Says Stress Test to Be Relesed
18. April 2009
U.S. interbank lending rates are once again lower on Friday after CNBC reported that the U.S. government would unveil the results of the stress testing of financial institutions in May. According to the British Bankers' Association on Friday, the…(read more) More: continued here
Continue reading...Most Rates Fall Along with Two Records
17. April 2009
Data from the Primary Mortgage Market Survey showed that the average rate for 30-year fixed-rate mortgages (FRM) averaged 4.82 percent with .06 point compared to 4.87 percent with 0.7 point reported for the week ended April 9. The 15-year FRM set its…(read more) More: continued here
Continue reading...Housing Starts and Building Permits Pull Back in March
17. April 2009
The U.S. housing sector showed greater than expected weakness in March, with both housing starts and building permits both falling further than expectations. Housing starts fell to an annualized pace of 510k, representing a month-over-month decrease of…(read more) More: continued here
Continue reading...Interbank Lending Rates Down After Confirmation Stress Tests to be Published
17. April 2009
U.S. interbank lending rates are lower on Thursday after the U.S. government revealed it will unveil in May the results of the stress tests of financial institutions. On Thursday, the Obama administration confirmed that it would publish results of the…(read more) More: continued here
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23. April 2009
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