Fed to stop buying mortgages, interest rates, home values and swine flu pandemic
Wed Jan 13, 2010 11:01AM
Will Fed stop buying mortgages and mortgage backed securities, comes this April? I do not think so, unless of course, the Fed wants interest rates to rise, home values to fall and economy to suffer even more. And what it...Two key economic indicators for November show rough sailing ahead
Sun Jan 10, 2010 01:01AM
Consumer credit decreased by the largest number since 1980, with outstanding balances on consumer credit falling $17.5 billion in November, equal to an annualized 8.1%. Pretty sorrow picture considering it was during the holiday shopping season. So much for sustained...Unemployment rates, U.S., European and the real rate
Sun Jan 10, 2010 12:01AM
U.S. employers cut 85,000 jobs in December. Altogether in 2009, according to survey of employers conducted by the Labor Department, the U.S. economy lost 4.2 million jobs. The survey of households offers a very gloomy scene of the job market,...Gold, dollar, inflation, bankruptcy filings, pending home sales and more
Thu Jan 7, 2010 10:01AM
Yes, those are all things we are going to touch today in such an order. The economic picture painted by mass media is a total mess, looking quite suspicious to any reasonable person with a bit of common sense left....Job market outlook for 2010 is bad
Wed Dec 9, 2009 10:12PM
Come on now, how many times you have heard about those green shoots of recovery, popping out here and there, and that the ongoing recession isn't as bad as certain circles in the media want you to believe. I agree...Budget deficit tops one trillion dollars - what it means for you
Tue Jul 14, 2009 01:07AM
I would say rampant inflation, high interest rate and falling dollar. Some economists project $2 trillion by this fall. This sad result is the combination of the huge bailout and stimulus sums the government has spent to ease the recession,...Short sale process in real estate - how to do a short sale - a foreclosure alternative
Sat Feb 7, 2009 01:02AM
Short sale in real estate is nothing new and have benefits for both, the lender and you. While the short sale process seems pretty straightforward - home is sold for less than the mortgage you owe on it and lender...Platinum price falls below price of gold
Sat Dec 13, 2008 05:12PM
The spot price of platinum dropped below price of gold on Friday, that was yesterday, December 12th. That happened for the first time in some 20 plus years. Just think of that in May, platinum price was at $2,200....Credit card issuers to cut $2 trillions?
Mon Dec 1, 2008 12:12PM
The story about credit card industry possibly cutting over $2 trillion in credit limits over the next 18 months due to risk aversion and regulatory changes barely made any noise. The consequences for economy and consumer spending, however, will be...Silver coin and bullion premium is sky high
Fri Nov 28, 2008 01:11AM
Want to buy some silver? Prepare to pay a premium of up to 70% over the silver spot price. When we commented on silver shortage back in September, the things were bad, but has drastically worsened ever since. With...Credit card crisis - few facts on the worst credit crunch yet
Mon Nov 24, 2008 12:11AM
- there were $21 billion in bad credit card loans in the first half of 2008, and the credit card industry stands to lose at least another $55 billion over the next year and a half - Capital One has...It's only gets worse - underwater mortgage update
Fri Oct 31, 2008 04:10PM
The situation with underwater mortgages did get worse. According to latest from Reuters, nearly 1 in 5 US mortgage borrowers owe more to lenders than their homes are worth. Worse yet, the rate may soon approach 1 in 4 as...Federal funds rate at 0 percent?
Fri Oct 31, 2008 03:10PM
The federal funds rate is now 1%, down from 1.5%. Now understand please, that the federal funds rate is an interest rate at which banks and other depository institutions lend money to each other, usually on an overnight basis, while...Washington Mutual closed by U.S. Government, JPMorgan Chase gets the cake and eats it too
Fri Sep 26, 2008 12:09AM
And it isn't going to get fat. I'll tell you, JPMorgan Chief Executive Jamie Dimon is something else. First he gets Bear Stearns yummy leftovers for the puny $200 millions, now that. Exactly 119 years since its predecessor was...Bank deposit insurance - how safe your deposits
Wed Sep 17, 2008 06:09PM
If you are like tens of millions Americans as well as hundreds of millions of other enlightened citizens of the world, you keep your cash in a form of a bank deposit. Here in the US, and I am pretty...USB loses $331 million in second quarter
Wed Aug 13, 2008 05:08PM
It took $5.1 billion bringing the write offs on dwindled assets for the past year to $42.5 billion total....JPMorgan Chase lost close to 1.5 billion since July
Wed Aug 13, 2008 05:08PM
This can be a little more than pocket change, compare with what's coming. According to a regulatory filing August 11, JPMorgan held as of June 30, an aggregate $19.5 billion of prime and Alt-A mortgage exposure, $1.9 billion of subprime...Foreclosure by bulk - sovereign funds are buying cheap bulk foreclosures
Mon Aug 11, 2008 10:08PM
With US home markets plummeting deeper the new industry has quietly developed - bulk foreclosure purchases by the cash rich sovereign funds are reportedly on the rise. These funds belong to the governments of oil rich countries, anywhere from...Royal Bank of Scotland posts first ever loss
Fri Aug 8, 2008 02:08PM
A 5.9 billion pound or $11.4 USD billion write down on risky assets sent Royal Bank of Scotland to a first-half loss of 691 million pounds....Banks paying billions back to misled investors and paying tens of millions in fines
Fri Aug 8, 2008 01:08PM
The Swiss bank UBS has reached a $19.4 billion agreement to buy back bonds in the biggest settlement yet over claims that banks misled investors to buy auction-rate securities. Citigroup Inc. agreed to buy back more than $7 billion in...Morgan Stanley freezes thousands of home equity credit lines
Wed Aug 6, 2008 04:08PM
Morgan Stanley has apparently decided that roughly $14.4 billion of losses related to leveraged loans and collateralized debt obligations is quite enough. So the second-biggest U.S. securities firm, told thousands of clients that they can not withdraw money on their...Food prices are rising at alarming rate
Thu Jul 31, 2008 03:07PM
The cost of crops and livestock is up 16% this year compared to last year, driven higher by rising costs for feedstock and fuel. According to the annual report released by a U.S. Department of Agriculture, prices for farm products...Housing market slump and rebound
Thu Jul 24, 2008 02:07PM
Why everyone is so surprised by the 2.6 percent fall of existing home sales in June? In my estimate it is rather mild. Of course, if it was bad enough in June when would be buyers could have locked reasonably...The biggest foreclosure blunder in US home history?
Mon Jul 21, 2008 03:07PM
The City Center, a $9.2 billion condominium/hotel development on the Las Vegas strip sure has all the signs. Overall, Las Vegas real estate in dire straits - home prices fell nearly 40%. The $2 billion Cosmopolitan hotel development is in...How do you make sense from today Yahoo! top stories? I can't get it ...
Thu Jul 17, 2008 08:07AM
...Matthew Simmons on oil - CNBC from Friday, July 11
Mon Jul 14, 2008 02:07PM
Matthew Simmons founded Simmons & Company International with the focus on oil service industry in 1974, which is 34 years ago. He has seen few ups and downs, and I think he definitely knows what he is talking about. In...Never fear, the Fed is here, will print more money
Fri Jul 11, 2008 02:07PM
Just came out - The Federal Reserve has told mortgage companies Fannie Mae and Freddie Mac they can borrow money from the central bank if necessary. Hmm, where it will all stop?, What about Lehman Brothers? It is not less...Taxpayers to insure Fannie Mae and Freddie Mac?
Fri Jul 11, 2008 02:07PM
How do you like that one, ah? Under a 1992 law, Fannie or Freddie could be put into conservatorship if their top regulator found that either one is "critically undercapitalized." A conservator would have sweeping powers to overhaul them, but...Cantarell oil field is getting dry
Thu Jul 10, 2008 11:07AM
Production at Mexico gigantic Cantarell oil field is falling off a cliff faster than you say 'hello'. Crude output from Cantarell, the world's third-largest oil field, is falling at the fastest pace in 12 years, and is down a stunning...Will airlines be nationalized?
Sun Jul 6, 2008 10:07PM
Major airline stocks are getting close to nothing ......If this isn't a recession than what?
Sun Jul 6, 2008 10:07PM
The value of homes owned by U.S. banks more than doubled to $8.6 billion in the first quarter of 2008 from $3.59 billion a year earlier as lenders repossessed homes in default, data compiled by Federal Deposit Insurance Corp. in...When housing market will recover?
Thu Jul 3, 2008 10:07AM
In my opinion, not earlier than in the end of 2010, beginning of 2011, will we see some feeble signs of recovery. What I mean is that huge inventory of unsold home will somewhat lessen. At that point housing market...Why there won't be a bubble in commodities
Mon Jun 30, 2008 08:06AM
Lets face it, Wall Street hates gold and silver and yes they don't like commodities either. I don't remember any big shot analyst preaching dot-com or technology bubble, or real estate one. Contrary to that, CNN, CNBC and the likes...The did fall, I hope you got out in time
Thu Jun 26, 2008 03:06PM
Hate to say "I told you so" but I'll say it. I did and was right on the money. And I am telling you now, it is just a beginning, not the end....Inflation is everywhere - quote of the day
Tue Jun 24, 2008 10:06PM
"Thanks to the rising cost of, well, just about everything, inflation has become a pressing problem across the globe. Trouble is brewing from South America to Central Asia to Europe, the Middle East and beyond. Just about the only continent...Will the Saudis and others run dry - is the only the question of when
Sat Jun 21, 2008 10:06PM
Nothing lasts forever but the earth and sun ... and oil is certainly not. Looks to many that Saudi Arabia is running out of oil. Saudis won't let independent geologists to assess their oil fields. Why? The answer is obvious...Gold to go to $5,000 on world wide inflation?
Fri Jun 20, 2008 03:06PM
That is according to Christopher Wyke, London-based emerging market debt and commodities product manager at Schroder Investment Management which oversees about $10 billion of commodity assets. He may be on something as inflation accelerates around the world forcing people to...Stock market tumbles in a huge sell off
Fri Jun 20, 2008 03:06PM
This could be it. Dow went down hard, closing 220 points down or 1.83%, with NASDAQ and S&P doing even worse percentage wise. Dow closed below 11,900 level at 11,842. It is still higher than 11,731 it touched in...Orange County foreclosures break 1,000 a month
Wed Jun 18, 2008 04:06PM
DataQuick said Monday that banks foreclosed on a record 1,131 houses and condos in Orange County in May, a new record; the first time the total topped 1,000 in a month, and 68 percent higher than the peak during the...FedEx outlook points to the worse
Wed Jun 18, 2008 03:06PM
FedEx issued rather gloomy outlook, projecting deep suffering from a soft U.S. economy, for which the shipping company is a bellwether, and surging fuel costs. ...San Diego home builder gives you smaller house for free
Sat Jun 14, 2008 11:06AM
If you buy a luxury estate home in a range of $1.6 to $1.8 million in the upscale city of Escondido in northern San Diego County from Michael Crews, he will gladly throw in a unique $400,000 row home...Housing market is going to get worse
Tue Jun 3, 2008 02:06PM
That is according to Lawrence Lindsey, who some say is a bit too pessimistic. I on the other hand think he is too optimistic. Here are few paragraphs taken out of context as they say, but believe me, they...Real estate - no bottom in sight
Tue May 27, 2008 12:05PM
The state of denial on housing issue among many is such, that I have to ask those folks, if they are pretending or plain stupid. Probably both. The prices will fall simply because of following reasons. First, they haven't fall...Signs of times
Tue Apr 15, 2008 10:04AM
The number of people filing for foreclosures jumped 57% in March. The number of jingle mailers - homeowners who mailed in their keys and walked away, went through the roof last month. Oil pushes through $113, almost touching $114 USD,...Chart shows why the real estate market will likely never recover
Sat Apr 12, 2008 04:04PM
As I have always pointed out, the real estate craze was combination of insanely and unjustly low interest rates meaning Alan Greenspan and Co. and huge salaries. The prosperity was also created by Microsoft, Oracle, Sun Microsystems and others...Things get worse for mortgage seekers
Thu Apr 10, 2008 12:04AM
Yesterday Washington Mutual announced that it exits wholesale mortgage business following Bank of America which did it a while back. Basically, a potential borrower can now only get the loan from Washington Mutual applying directly, which mean he or...Two years into the housing slump and still in a state of denial
Sun Mar 30, 2008 11:03PM
Last week we were in the friends house, and the husband who is the realtor, sounded almost upbeat, convinced like a little child that Santa Claus or Tooth Fairy is real, that real estate market has reached the bottom....Gold, Dollar, Bear Stearns, Lehman Brothers, Citigroup, Saint Patrick's Day
Tue Mar 18, 2008 01:03AM
What should a sane person do on Saint Patrick's Day? Act like a Leprechaun counting your gold coins. If you don't have any, buy some and pick up as much silver along the way as you can afford. I...Bank of America buys Countrywide, WaMu is in talks with JP Morgan Chase
Fri Jan 11, 2008 10:01AM
Bank of America, which roots can be traced to the Bank of Italy founded in 1904 by smart Italian American Amadeo Pietro Giannini, has already paid $21 billion for ABN Amro North America and Chicago based LaSalle Bank just...Financial news roundup for 01/10/2008 - not good
Thu Jan 10, 2008 05:01PM
I don't think any comments are necessary, just read and weep, and brace yourself. Stocks Rise on Potential Countrywide Buy A volatile Wall Street advanced Thursday for the second day in a row, as investors found renewed confidence in a...Countrywide to declare bankruptcy?
Tue Jan 8, 2008 01:01PM
The rumors are in, but of course Countrywide denies that. I haven't heard anything yet but it seems quite likely. The CFC hit $5.76 and the trading was halted, hmm ..., not good. Countrywide of course had its share...2007 is gone, 2008 is here - now what?
Thu Jan 3, 2008 03:01PM
In the end of 2007 there were quite a few stories that will very likely will you in 2008, so I put them down in no particular order. Record numbers of identity theft of credit cards, social security numbers and...Wall Street, Federal Reserve and socialism? You better read ...
Thu Dec 13, 2007 11:12AM
In good times, financial markets embrace capitalism. In bad times, financial markets re-discover socialism. Currently, the U.S. Federal Reserve is engaged in a dangerous strategy to look after its Wall Street friends. The origins of the current credit crisis lie...The things I have been saying - read Herb Greenberg blog
Fri Dec 7, 2007 08:12PM
The sub prime mess is only a tip of the very large problem - Herb Greenberg "dialog" with the mortgage broker who does know what he did last summer as well as few summers back....Next shoe to drop - why credit troubles will continue?
Thu Dec 6, 2007 02:12PM
We know that credit card debt troubles will blow into our faces sooner than later. The trouble is no one wants to hear that. I can simply see the number of people searching for payday loans has increased by...Gold, oil, real estate & DOW - just like I said in February except ...
Tue Nov 20, 2007 03:11PM
the DOW, but don't' worry it will be getting there. In Real estate, housing bubble, gold prices, falling dollar, stock market written on the February 23rd, I said that Gold meanwhile is pulling higher and higher, little by little is...Housing market to deteriorate further - because sub prime lenders are out of business
Fri Nov 9, 2007 01:11PM
The sub prime mortgage collapse has been bad, resulting in foreclosures, grief, plummeting home values and welcoming upcoming recession. But much worse is the fact that the sub prime banks collapsed as well, together with the enormous amount of...Citibank plans to write off $8 to $11 billion in additional losses
Mon Nov 5, 2007 03:11PM
For those who thinks that mortgage mess is getting closer to the finish, Citibank just announced that it is planning to claim another $8 billion to $11 billion in additional losses. Citibank follows Merrill Lynch which last month said it...Gold hits 16 month high, oil hits all time high
Mon Sep 17, 2007 10:09PM
Gold is around $715 per once, probably will go down a bit. Bank of Spain, the largest seller of gold this year under the central banks’ gold agreement, plans no more significant sales of the metal. The oil touched $81.18,...American Brokers Conduit is out of business
Fri Aug 3, 2007 12:08AM
I knew about it on Tuesday, and this is very unsettling. The American Brokers Conduit, or ABC definitely was a large lender, I suspect somewhere in the first 10 in the US. Yet I haven't seen much buzz about...Is housing slowdown nearing the bottom?
Tue Jun 26, 2007 02:06AM
Q: I want to know your opinion on the housing slump. Has it hit the bottom? I keep hearing from Fed chairman Ben Bernanke, Treasury Secretary Hank Paulson, and the others that the worst is almost over, and the...Is everyone going crazy, or just I?
Thu Jun 14, 2007 01:06PM
Looking at the Market Summary on the left and at the Top Financial News on the right, I feel I should check myself in a mental hospital. There is no base for the market to be up ..., "controlled...Economic roundup doesn't bode well for markets
Thu Jun 7, 2007 04:06PM
With 10-Year Treasury yield finishing over 5 percent today, the mortgage interest rates will get higher, and the housing market looks very bleak, at least for the summer. Dow lost 410 points in last 3 days but at 13,266, still...California foreclosures increasing in alarming rates - all speculative "flip that house" markets have huge foreclosure numbers, and gas is $4 a gallon
Wed May 23, 2007 01:05PM
Someone sent me these figures and I posted them FYI, I didn't verify those, but they seems to be right, judging from what I see here in Illinois, where certain towns give me an impression that every second home is...Economic slowdown and more job losses - should you be worried?
Mon May 7, 2007 11:05PM
Today the market was watching closely Microsoft trying to buy Yahoo! instead of looking into the very core economic news, which I may add weren't great. The Labor Department reported that April payrolls increased by an anemic 88,000, the fewest...Foreclosure workshops are starting in record numbers - should you get in?
Tue Apr 3, 2007 02:04PM
Foreclosure has become a buzz word. With the recent record numbers, particularly when it comes to sub prime mortgages, foreclosure is the latest "novel" way on getting rich. The bank auctions and sheriff sales are reporting unusually high attendance. Moreover,...Kiyosaki says "make money fast", before the dollar crashes ...
Fri Mar 23, 2007 03:03PM
I have read neither Rich Dad, Poor Dad nor Rich Kid, Smart Kid. As a matter of fact, I have not read any of his books. Reading some of his columns among other Yahoo "Experts", I couldn't quite figure out,...Will the fast spreading sub prime mortgage lending problem cause the very first real crash in Real Estate market?
Tue Mar 13, 2007 12:03AM
New Century Financial is getting closer to the bankruptcy - by issuing too many loans to the bankrupt homeowners - both, past and future ones. That is not funny, actually. This is the second largest sub prime home mortgage lender,...Black Tuesday came ..., but what is next?
Wed Feb 28, 2007 08:02PM
Good question, and the one I can't answer. Nobody can, but as I said just in the very last paragraph of my previous post, written on the 23rd, as far as stock market goes, it is primed for a major...Real estate, housing bubble, gold prices, falling dollar, stock market
Fri Feb 23, 2007 03:02PM
I start with Sacramento story where about one of every five existing homes on the market is a "short sale", meaning the home is worth less than the value of the mortgage, and the lender is willing to accept less...The Real Estate, what lies ahead - 2007 and beyond
Thu Feb 15, 2007 11:02PM
As someone said a very long time ago - I know what happened yesterday and I understand what's going on today, so I can pretty much figure out what will happen tomorrow. What I figured out is not going to...Mortgage Lenders Network goes under Chapter 11
Wed Feb 7, 2007 06:02AM
Mortgage Lenders Network USA Inc, on Monday filed for Chapter 11 bankruptcy protection, becoming one of the largest casualties among sub prime lenders as the U.S. housing market slows. That is in spite of making $3.3 billion of sub prime...Mortgage companies losing business and getting out of business
Mon Jan 29, 2007 02:01PM
Few years ago I met this guy, account rep from one of the leading sub prime lenders. It was in April, 2004, and he was a regular in the mortgage company I worked. These account reps, you see, work on...The housing bubble - why I think real estate bubble is here and going to get uglier
Wed Jan 10, 2007 12:01PM
The housing bubble is here, there is no question about. That the real estate bubble has basically burst is not obvious as media downplays and worse, denies that the bubble ever going to happen. Everything is shiny and rosy,...US dollar in 2007 and beyond - my prediction
Wed Jan 3, 2007 04:01PM
What is going to happen to the dollar? I think it will continue to fall. It may be falling slower than in the last 5 years, but it will be weakening. A lot depends on China which holds huge...Economy is going to boom, American car sales is falling... Why?
Tue Jan 2, 2007 02:01PM
According to the Wall Street, most economists are expecting great a strong economic rebound in 2007 despite the housing slump. Meanwhile Ford and GM are in more troubles, as their cars are not selling. There is something I don't...Helpful Links
Recent Entries
- Fed to stop buying mortgages, interest rates, home values and swine flu pandemic
- Two key economic indicators for November show rough sailing ahead
- Unemployment rates, U.S., European and the real rate
- Gold, dollar, inflation, bankruptcy filings, pending home sales and more
- Job market outlook for 2010 is bad
- Budget deficit tops one trillion dollars - what it means for you
- Short sale process in real estate - how to do a short sale - a foreclosure alternative
- Platinum price falls below price of gold
- Credit card issuers to cut $2 trillions?
- Silver coin and bullion premium is sky high
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