The search for high yields and duration gained traction following the Brazilian government's $3.5 billion bond offering on Wednesday, with investors growing confident that interest rates in the United States will stand pat for a few more months, said Max Volkov, Bank of America Merrill Lynch's head of Latin America debt capital markets.» Read More
Federal regulators on Tuesday proposed some clarifications to sweeping new rules designed to shield consumers from unfair credit card practices.
The subprime mortgage crisis is for the most part over. Now the second housing crisis is upon us. Too much debt, too little income.
Despite the fact that the press representative in Senator Dick Durbin's (D-IL) office tells me "negotiations are still underway," several outlets are reporting that the Senate version of the so-called bankruptcy "cramdown" bill is imminent. The house passed legislation in March allowing bankruptcy judges to modify home loans, with a couple of caveats, the main one being that the borrower had to have exhausted all possibilities for modification with his/her lender.
Federal Reserve Chairman Ben Bernanke said on Friday that the U.S. recession had done lasting harm to household finances and that regulators must protect consumers from willfully confusing forms of credit.
The home builders are supposedly more upbeat this month than they have been in the better part of a year. At least that’s what the survey from the National Association of Home Builders says. The first-time home buyer tax credit, combined with lower mortgage interest rates, have potential contract signers out kicking the tires. Optimism is out there, if not actual signed papers.
After that surprising surge in February, housing starts went back to their usual freefall again last month. The nearly 11 percent drop was larger than expected, but inevitable given the huge supply of new and existing homes already on the market.
The global economy and global markets are on a volatile journey to a “new normal,” according to Mohamed El-Erian, CEO and co-CIO at Pimco.
The Obama administration will disclose details about its banking stress tests and what capital participants may need beginning next week, CNBC has learned.
The initial scare has gone from the market and it looks like the economy is showing signs of bottoming out, but it is difficult to predict where things will go from here, Jack Welch, the former CEO of CNBC parent General Electric, said Thursday.
While the technology sector struggled in global markets Thursday, experts tell CNBC there is big value there.
It should come as no surprise to anyone, given that the banks, Fannie and Freddie and several states had foreclosure moratoria that recently expired. Everyone was waiting to see the Obama plan for troubled loans, and once the Making Homes Affordable plan was set in motion, the moratoria were mostly lifted. Of course it begs the question, how exactly are those Obamamods doing?
Signs of long-term economic growth are still a way off, says Lawrence Lindsey, former National Economic Council director and president and CEO of the Lindsey Group. Lindsey predicts the stock market will retest its lows and says there is no bottom in sight for commercial real estate prices.
Global stocks declined Wednesday as grim data from China and the U.S. fueled concerns over the recovery of the global economy. Experts tell CNBC that although the economic slowdown is ongoing, the current rally still has some life in it.
I know we’ve been saying over and over that home affordability is soaring to record levels, but a report today from John Burns Real Estate Consulting really puts it into hard numbers, which I thought I’d share.
The Singaporean dollar gained against its American counterpart Tuesday after the country's central bank announced it was effectively devaluing its currency after posting its worst quarterly economic contraction ever. Experts tell CNBC the gain is unlikely to last.
All the government borrowing programs aimed at increasing liquidity have some economists worried that there could be a steep price to pay down the road.
Last week, while touting the success of one part of the Making Homes Affordable plan, President Obama issued a warning.
The US stock market appears to have hit bottom and the nation's economy might see an upward shift in the latter half of the year, widely watched investment strategist Abby Joseph Cohen told CNBC
More doom on the horizon? Or will happy days soon be here again? Take your pick. The confusion is enough to play havoc on a person's mood—or an entire nation's. In hard economic times, Americans turn to numbers to see whether things are getting better.
South Korea's economy averted a recession in the first quarter thanks to pump-priming and rate cuts, the central bank said on Friday, supporting market bets that interest rates had troughed.