*NATO says more than 1,000 Russian troops in Ukraine. NEW YORK/ LONDON, Aug 28- Gold rose for a third consecutive session on Thursday as tensions in Ukraine increased and equity markets retreated, but analysts said the rebound could be short-lived due to strong U.S. economic growth data and the prospects of a U.S. interest rate hike.» Read More
Following up on the spirited discussion that followed yesterday's blog on what banks are doing with foreclosed properties, our reporter encounters a frustrating story.
Though the tumultuous domino effect of September 2008 will be remembered as the tipping point of the financial crisis, its first major eruption was in the late summer of 2007 with the subprime mortgage meltdown. Much has changed since then. Here's how its reflected in key economic indicators.
There have been a lot of accusations on the blogs and on the air that banks are holding on to REO (bank-owned) foreclosed properties because they don't want to put them on the market and push home prices ever lower. In digging into this, I got a few interesting answers.
Property is a common means of diversifying a portfolio and hedging against inflation, but it can be a time consuming, complex and (as the recent bust proves) risky proposition.
William Dudley, president of the New York Federal Reserve talks about economic growth, Treasury auctions, inflation and what the Fed has learned from the economic crisis.
Despite a seemingly endless flow of US government debt into the markets, foreign investors continue to gobble up Treasurys and keep yields relatively low.
Yesterday, at one of the morning staff meetings, a CNBC producer told of how his son had an adjustable rate mortgage that actually, thanks to today's low interest rates, adjusted down, saving him hundreds of dollars on his monthly payment. Well all of a sudden everyone wanted to know if this would mean a shot in the arm to the economy, with all these supposedly troubled adjustable rate mortgages adjusting down instead of up.
House prices in Britain rose by 1.6 percent in August, slowing the annual fall in prices as low interest rates helped support the market, a major mortgage lender said Thursday.
As usual, by the middle of the day, I get bored with talking about the headline housing number du jour, and I start pondering some of the numbers that never make it into the general news stream. Today I'm looking at P.4 of the Commerce Dept.'s report on "New Home Sales in July." I'm wondering why sales of homes "Not started" (i.e. still empty lots) rose 33 percent month to month, while sales of "Completed" homes fell 6 percent.
Orders for durable goods rose last month by the largest amount in two years, but the rise was mainly fueled by the volatile transportation sector.
Federal Reserve Chairman Ben Bernanke faces a slew of challenges in his second term that will determine whether the US rebounds strongly from recession, Pimco's Mohamed El-Erian told CNBC.
For the first time in three years, the S&P/Case-Shiller Home Price Index rose quarter to quarter, 2.9 percent, although it's still down nearly 15 percent year over year.
Wall Street may be behind the nomination of Fed Chairman Ben Bernanke for a second term, but he is likely to face plenty of criticism at his Senate confirmation hearing.
President Barack Obama announced Fed Chairman Ben Bernanke's reappointment this morning. The following are CNBC video highlights, where experts weigh in on Bernanke's performance, working relationships and impact on the markets.
The danger of a W-shaped recession is not behind us, because consumers still have to keep spending after the government's money from various stimulus packages is over, says Art Cashin, director of floor operations at UBS Financial Services.
"The next phase is almost as difficult as the first one he presided over in saving the economy from a deeper recession or worse,” says one economist.
A weaker dollar and government intervention in the markets are to be expected as President Barack Obama reappointed Ben Bernanke as Fed chairman, analysts said.
A tsunami of home foreclosures is set to hit the US as banks are unable to keep bailing out tenants that can’t afford their rent and struggling home owners show their anger at the financial crisis by giving up on their mortgage, David Karsbøl, chief economist at Saxo Bank, told CNBC.
The rate at which credit card holders fell behind on their payments was far worse in the second quarter than it was last year, but did improve sharply from the alarming level seen in the first three months of 2009.
Some really startling numbers today from Fitch Ratings on delinquency "cure rates." That's the percentage of delinquent loans returning to a current payment status each month. "Cure rates have declined from an average of 45 percent during 2000-2006 to the currently level of 6.6 percent," according to today's report titled, "Delinquency Cure Rates Worsening for U.S. Prime RMBS."