Japan's financial regulator has begun testing regional banks to determine how much their earnings would suffer if long-term interest rates remain low.» Read More
There's a lot of talk on the Hill today about raising the conforming loan limit for Fannie and Freddie from its current $417,000. Treasury Secretary Henry Paulson said, "There is little question that allowing the GSEs to securitize jumbo mortgages would give a short term lift, which would be helpful to a segment of the housing market that has shown some recent improvement but is not functioning as normal."
Federal Chairman Ben Bernanke told Congress the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout from the mortgage mess.
The Canadian dollar hit parity with the U.S. dollar for the first time in 31 years Thursday, capping a 62 percent rise from 2002 on the back of booming commodity prices and a deepening disenchantment with the greenback.
Thanks to iPhone mania and a hefty yield, AT&T is just the kind of stock investors want in this environment.
Is Ben Bernanke more aggressive than Greenspan by nature? Does inflation still worry him? In Wednesday’s Face 2 Face go inside Ben's brain with someone who knows Bernanke well.
The Bank of England denied on Thursday it had performed a U-turn over its stance on not bailing out markets in the Northern Rock case.
The following is the full transcript of the speech made by Federal Reserve Chairman Ben Bernanke on Sept. 20, 2007, before the U.S. House of Representatives' Committee on Financial Services, on the subject of subprime mortgage lending and mitigating foreclosures.
British retail sales volumes rose more strongly than expected in August but retailers had to slash prices for a second consecutive month to lure in customers, official data showed on Thursday.
Two days after Federal Reserve Chairman Ben Bernanke got a vote of confidence from the markets for the Fed's half point rate cut, he and Treasury Secretary Henry Paulson head to Capital Hill for a hearing on the mortgage mess. They appear before the House Financial Services Committee starting at 10 a.m. Thursday.
The stock market's got some of its swagger back. Flush with a new infusion of confidence, investors will carry that into Wednesday. Before the opening bell on Wall Street, we'll get a look at consumer inflation data, August housing starts and another big broker's earnings. But there certainly should be some afterglow from Tuesday's Fed-fired rally cooked into the start of trading.
Chatter on the street is that Goldman Sachs can't help but beat Wall Street's estimates when it reports earnings tomorrow. For that reason, it's one of the few in the brokerage group still holding onto gains at the close. Goldman stock closed up 2.5%. Bear Stearns, also reporting tomorrow, fell 3%. Morgan Stanley was down 2% after a disappointing report this morning, and Lehman was down a half a percent. Merrill Lynch though was 1% higher.
The dollar rallied from a 15-year low against a basket of currencies Wednesday, as investors bet the Federal Reserve's interest rate cut Tuesday will help boost a slowing U.S. economy.
Maybe even as much as a full percent, Cramer said. Annaly Capital is the best way to play it.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Chief executives such as Ara Hovnanian were the among the loudest voices calling for the Federal Reserve to cut interest rates. Now, after the Fed's surprisingly sharp reduction in rates on Tuesday, CNBC asked several CEOs if they're happy.
Wells Fargo Chairman Richard Kovacevich said Wednesday the U.S. mortgage industry will recover following further short-term pain, led by better-diversified lenders less exposed to market vagaries.
The Fed’s rate cuts will do little if anything to help the mortgage and housing industries in the short-term--and the central bank is just at the beginning of a long, hard fight to head off a recession, experts say.
The short answer is: not today. I realize the CNBC audience doesn't need an explanation of why a Fed rate cut doesn't mean that you're suddenly saving hundreds of dollars a month on your 30-year fixed. Yes, it may slightly affect adjustable rate mortgage interest rates, and certainly some home equity lines, but the troubles in the housing market are far too vast right now to respond suddenly to a little ol' rate cut.
Forget the knee jerk euphoria. Was Tuesday's Fed move the right one and does it signal the okay to jump back into stocks?
U.S. consumer prices unexpectedly dipped 0.1 percent last month and new home construction hit a 12-year low, data Wednesday showed, underlining concerns about the country's economic outlook.