WASHINGTON— Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30- year loan fell to 4.27 percent from 4.34 percent last week.» Read More
European Central Bank head Jean-Claude Trichet said on Monday that financial markets were experiencing an "ongoing correction" and repeated that the G7 was concerned about excessive dollar volatility.
I’m hearing the word “affordability” a lot these days, increased affordability to be specific. The Realtors were hammering that particular positive during their monthly existing home sales presser this morning...
Euro zone economic growth looks set for a sharp slowdown in the second quarter after a strong performance at the start of the year, data showed on Friday, but rocketing inflation will keep interest rates on hold.
U.S. Treasury Secretary Henry Paulson told CNBC Thursday that rising oil prices are not driven by market speculation but instead reflect tight supplies and growing global demand.
Wall Street appears resigned to the idea that the Federal Reserve is done cutting interest rates, but a patchy economy could force policy-makers to keep their scissors handy.
Delinquencies for Alt-A mortgages (these are the low-doc, no-doc loans where you don’t have to prove your income, etc.) rated between 2005 and 2007 are continuing to climb, with total delinquencies now as high as 17 percent in some cases. That’s 6 percentage points higher than previous estimates.
High food prices will continue for at least a decade even if they drop from the levels that sparked street protests or riots in Africa, Asia and the Caribbean in recent months, government-backed international agencies say.
The US mortgage market will recover slowly from a wave of bad loans that threw financial markets into crisis and the lending system will need repairs, Federal Reserve Governor Randall Kroszner said Thursday.
The number of U.S. workers filing initial claims for jobless benefits unexpectedly fell by 9,000 last week to its lowest level in a month, the government said Thursday, but remained at elevated levels to underscore a sluggish jobs market.
Goldman Sachs Senior Investment Strategist Abby Joseph Cohen told CNBC Wednesday that she sees U.S. interest rates climbing, though not necessarily in the short term.
The following is the text of the minutes from the Federal Open Market Committee's meeting of April 29 to 30, issued on Wednesday.
The Fed cut its economic growth forecast and warned of higher inflation and unemployment but signaled more rate cuts are unlikely. "If you had any doubt that the Fed is signaling a pause, that doubt is gone," said one economist.
Mozilo, who has gotten tons and tons of these, writes, “This is unbelievable. Most of these letters now have the same wording. Obviously they are being counseled by some other person or by the Internet. Disgusting.”
A little below the headlines about the latest housing rescue bill--that is, the Senate’s “Federal Housing Finance Regulatory Reform Act of 2008”--are the details of the bill: one of which could have some serious consequences for big ticket homes.
Only arch dove Bank of England policymaker David Blanchflower wanted lower interest rates this month, with the remaining eight Monetary Policy Committee members keen to concentrate on inflation rather than growth.
US interest rates seem to be at the right level to help the sputtering economy without sparking inflation, but policy-makers need to be ready to adjust quickly in the face of a highly uncertain outlook, Federal Reserve Vice Chairman Donald Kohn said Tuesday.
US inflation at the wholesale level rose slower than expected in April, but core inflation, which strips out volatile food and energy prices, rose twice as fast as expected.
The Oracle of Omaha is looking for European businesses with pre-tax profits of at least $75 million, but he says the bigger the better. The tour began in Frankfurt, continues in Lausanne, Switzerland Tuesday and rolls on to Madrid and Milan later in the week.
Australia's central bank actively considered raising interest rates earlier this month as inflation was uncomfortably high, minutes of its May policy meeting showed on Tuesday, sending the Australian dollar to 24-year highs.
The Bank of Japan left interest rates unchanged at 0.5 percent on Tuesday, as expected, opting to take more time to determine when the fog will clear from the economy -- both in Japan and around the world.