*Gold eases as dollar supported by strong US data. SINGAPORE, March 27- Gold eased on Friday as traders booked profits after a seven-day rally and as the dollar rebounded on strong U.S. data, but the metal looked set to post its second straight weekly gain on expectations U.S. interest rates will stay low for longer. Tensions in the Middle East after Saudi Arabia and...» Read More
While Wall Street obsesses over stress tests, Congress is moving on to the next hot-bottom issue—new authority over big financial firms.
Two new pieces of data out today suggest, at face value at least, an improvement in the housing market.
Global stocks rose Monday ahead of the expected release of the U.S. government's bank stress test results. Experts tell CNBC if the banking system isn't fixed, governments' stimulus efforts are in vain.
Today is the official start of a new policy at Fannie Mae and Freddie Mac, to only buy loans that were appraised under the Home Valuation Code of Conduct. The HVCC was the outgrowth of a lawsuit filed by New York Sate Attorney General Andrew Cuomo against Washington Mutual and was designed to “improve the reliability of home appraisals,” according to FHFA, Fannie and Freddie’s regulator.
The Federal Reserve announced Friday that it will launch a much-awaited program in June to bolster commercial real-estate lending. And, to help make the program more attractive to investors, the Fed will provide longer, five-year loans
Credit is not just a tool, it’s a product. And being a smart shopper of credit can be just as important as how you use it once you have it.
Global stocks were higher Friday, the first day of May, as investors were encouraged by the returns in April's strong market performance and batted off news of Chrysler's bankruptcy announcement and deepening concerns about the swine flu outbreak.
South Korean exports in April fell less than expected and export earnings per day rose for the third month in a row, the latest signs that the global economic slump that drove Korea to the edge of recession may be easing.
Although the Senate vote hasn't actually taken place (expected mid-afternoon) bankruptcy "cram down" is effectively dead on the Hill for the time being.
You've heard all the gloom and doom. Now here's some good news: the economic recovery could happen much sooner—and be much stronger—than anyone thought possible.
Sen. Richard Durbin (D-Ill.) has managed to get a vote scheduled for his controversial plan to help homeowners avoid foreclosure, but the bill's chances of approval are slim.
Global stocks rose again Thursday as investors took heart from signs of improvement in the U.S. economy after the Federal Reserve tweaked its policy statement to say that the economic outlook was improving. But experts on CNBC were mixed on when the economy will recover.
NOT SEEN ON T.V.: Depending on what you use them for, John Ulzheimer has the three cards that should be in your wallet.
The U.S. economy contracted at a surprisingly sharp 6.1 percent rate in the first quarter reflecting continuing economic woes. In the meantime, President Obama marks his 100th day in office while analysts anxiously await the latest from the FOMC's interest rate decision due this afternoon. (UPDATED with the Fed decision, below). Read and listen to what experts had to say...
Below is the statement released by the Federal Open Market Committee after its Apr. 28-29 meeting on interest rate policy:
Senate Majority Whip Richard Durbin (D-Illinois) Thursday will take so-called bankruptcy cramdown legislation to the floor, seeking a vote on the controversial proposal, say Congressional and industry sources.
Yesterday the Treasury Department announced another element to the Home Affordable Modification Program (one part of the Making Home Affordable Program). It addresses what has been a big impediment to loan modifications so far, that is, second liens. Of the $12 trillion mortgage market, about $1 trillion are second liens (often called “piggyback loans”). According to the NY Times, 70 percent of those are held by banks.
The economy contracted at a steeper-than-expected pace in the first quarter, weighed down by sharp declines in exports and business inventories.
Ahead of the May 4 bank stress test results, experts tell CNBC that the financial system may not be in the clear yet.
South Korea posted a record current account surplus for March as exports rose for a second consecutive month, central bank data showed on Wednesday, cementing hopes the worst for the economy is over.