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The New York Democrat announced Sunday the Federal Student Loan Refinancing Act, a bill that would lower interest rates for many student borrowers currently repaying their federal student loans. Gillibrand said she will introduce the bill in the Senate this week. There are 2.7 million borrowers in New York and 37 million nationwide.
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Here are your responses to my recent reports on foreclosures (here and here) in California. Mike from NY says people got talked into buying a house when they had no business doing so: "...all these people thought they were Donald Trump."
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The dollar rebounded from record lows against the euro Wednesday, brushing aside a steeper-than-expected fall in August durable goods orders as buyers took advantage of cheap exchange rates.
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New orders for costly U.S.-manufactured goods dropped at the sharpest rate in seven months during August as demand fell across nearly every major category.
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The European Central Bank allotted 50 billion euros of three-month refinancing on Wednesday at an average rate of 4.63% -- the highest since March 2001 and evidence of continued tightness on the euro money market.
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U.S. home loan applications slumped last week after climbing for three straight weeks, an industry group said Wednesday, as falling demand for home purchase loans overshadowed a fourth consecutive weekly rise in refinancing requests.
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The dollar hit a new record low against the euro Tuesday as a surprise plunge in U.S. consumer confidence to nearly two-year lows raised expectations of another Federal Reserve interest rate cut next month.
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There's nothing funny about today's post, other than the funny money that went into mortgages. I am on the ground on Henry Long Blvd. in Stockton, CA. This is truly the epicenter of the foreclosure earthquake. I would say one out of every eight homes in this neighborhood is for sale: and you know which ones are vacant because the lawns are dead.
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There was more bad news for the housing sector Tuesday. Both sales and prices of existing homes continued to fall, while inventories rose.
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Consumer crisis or not, we're three months and counting until Christmas. Americans will still shop for the holidays but the question is just where they'll buy and how much they'll pay for this year's presents. Will we have a merry or mediocre Christmas?
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High energy prices, the housing slump and worries about a recession may not have as much impact on holiday sales.
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The dollar hit a record low against the euro for the third straight session Monday, amid fears that a deepening housing slump could rein in economic growth and trigger more cuts in U.S. interest rates
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U.S. Treasury prices finished mostly higher Monday, shaking off an early decline and benefiting from a downturn in the stock market. In general, stocks have risen while Treasurys have been driven lower in the wake of the Federal Reserve's decision last week to reduce official rates by a full half percentage point.
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The text from a speech given by Ben Bernanke on "Education and Economic Competitiveness" in Washington D.C. on September 24, 2007.
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I was waiting to see who did it first. I figured it was between California and Florida, and I was right. California wins. Last Thursday, Gov. Arnold Schwarzenegger wrote a letter to Congressional leaders asking for a state exception to the GSE conforming loan limit ($417,000).
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Turmoil in global credit and money markets will likely continue as investors worry about the size of financial losses and where they might appear, the International Monetary Fund warned Monday.
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There's a lot of concern about whether a weaker dollar could cause higher U.S. inflation, but CNBC’s Steve Liesman says not so fast.
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The default rate on U.S. mortgages is stabilizing, an American housing official said Monday, adding she didn't expect last week's cut in U.S. interest rates to significantly affect the number of defaults.
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Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
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Like an orchestra tuning up, financial markets are trying to find the right pitch after the Fed's big rate move. The market moves have been dramatic, and for the time being, it's likely they'll continue that way.