VIENNA, Feb 1- The surging Swiss franc has dealt a double blow to homeowners in Austria, home of the trend for borrowing in the Swiss currency that has devastated mortgage holders across eastern Europe. In the early 1990 s, people living in the west of the country who crossed into Switzerland to work were lured by the ultra low interest rates offered in the...» Read More
Worries about inflation may limit any monetary easing by the Federal Reserve, even though credit crunch and a slower economy have investors expecting aggressive interest rate cuts, The Wall Street Journal said on Friday.
National Australia Bank, Australia's top lender by assets, has taken the unusual decision to raise home loan rates out of step with a central bank rate move, in response to higher borrowing costs.
President Bush said he was considering the possibility of offering a fiscal stimulus package to help boost the economy but said he has not made a decision yet.
New orders at U.S. factories surged a bigger-than-expected 1.5 percent in November on a bigrise in orders for nondurable goods, a government report showed on Wednesday.
U.S. mortgage applications tumbled for the third straight week to the lowest level since July 2006 even as borrowing costs declined, an industry trade group said on Thursday.
The European Central Bank would be ready to raise interest rates again if necessary, new ECB Governing Council member Athanasios Orphanides said in a German newspaper interview published on Thursday.
The text of the minutes released January 2, 2008 from a Federal Open Market Committee meeting held on December 11. 2007.
Stocks had one of their worst opening days ever after getting slammed by $100 oil and bad news for manufacturing and the credit industry.
Despite the fact the home prices/values are falling pretty much nationwide, your tax assessment may in fact be going up. The Washington Post today reports that property values in Maryland have increased by an average of 33 percent over the past three years.
China's economic growth and consumer price inflation are expected to slow moderately thisyear as cooling policies take effect and food supplies increase, a major government research institute forecast on Wednesday.
It’s the last day of 2007, which means everyone and their broker are busy with predictions for 2008, but I’d caution you in using today’s numbers from the National Association of Realtors as any basis for prediction.
European stocks had a turbulent second half in 2007 and are still in largely in recovery mode as the year draws to an end.
I've never claimed to be an economist (just play one on TV), but I have held a few yard sales in my time, so this I know: If something isn't selling, lower the price. So how can new home sales be reportedly dropping 9 percent while the price of a new home rose month-to-month from $229,500 to $239,100?!
Pakistan's brief period as a destination for adventurous investors seems over for now, as the killing of opposition leader Benazir Bhutto brings fresh instability to an already volatile nuclear-armed nation.
So I was clicking through all the sale spams in my inbox this morning -- from all the major retailers -- offering me 25 to 60 percent off on cashmere items, plasma TVs, sateen sheets and unwanted DVDs. Suddenly it occurred to me that one group of retailers was conspicuously absent: America’s big home builders.
U.S. consumer confidence rose slightly in December with a marginal improvement in the outlook for business conditions, employment and inflation, according to a private report on Thursday.
U.S. mortgage applications sank last week to the lowest level since the end of last year despite falling borrowing costs, an industry trade group said Thursday.
European stocks were set to rise on Thursday, as higher commodity prices lend support to shares of mining and energy companies but volumes could remain thin as many investors stayed away for the holiday.
This is a transcript and video clip of the second part of Warren Buffett's live interview this morning on Squawk on the Street with CNBC's Becky Quick. In this section, Buffett talks about the super-SIV proposal, the Bush administration's plan to encourage lenders to freeze some variable mortgage rates and about why he supports Hillary Clinton and Barack Obama for president.
The S&P/Case-Shiller Home Price Indices out today couldn’t be more telling of what’s going on in the housing market now -- and more importantly, where it’s headed: Prices are in free fall.