WASHINGTON— Average U.S. long-term mortgage rates were stable to slightly higher this week, remaining near their lows for the year. Mortgage company Freddie Mac said Thursday that the nationwide average for a 30- year loan was 4.13 percent, unchanged from last week.» Read More
Erin Burnett has been travelling the globe in search of the market movers of tomorrow. So far she has been to Dubai in the United Arab Emirates and Mumbai, India. Today, she is in London. Like last week's comparison of the UAE and India, here are some stats comparing the UK and the US.
The U.S. economy is weak but does not appear to be in a recession, according to a key forecasting gauge, the Conference Board reported.
European Central Bank President Jean Claude Trichet warned on Monday that the end of the credit crunch was not yet in sight and the world was experiencing an "ongoing and very significant market correction."
The credit crunch is far from over and is likely to hit sectors other than housing, Marc Faber, Editor and Publisher of “The Gloom, Boom & Doom Report”, told "Squawk Box Europe."
The US economy and financial markets will improve by year-end but housing still poses the biggest threat to the economy, Treasury Secretary Paulson predicted.
- Notes from an ECB groupie's travelog -
The head of the Federal Deposit Insurance Corp said on Friday that another wave of U.S. credit stress was coming, involving non-mortgage loans.
I frankly can’t understand why anyone would think a bump in starts and especially permits is good news in any way, when home builders can’t give their houses away and immense quarterly write-downs of their assets scream that from the rooftops!
The U.S. economy may avoid recession but it is likely to remain weak at least until the end of the year, Atlanta Federal Reserve President Dennis Lockhart told "Squawk Box" on Friday.
Investors struggled to figure out where the economy is headed after reports showing a modest increase in jobless claims and weakness in the manufacturing sector.
There’s a growing debate in the real estate community concerning the phenomenon of homeowner “walkaways”: Borrowers who can afford their mortgages, but decide to stop making their monthly payments...
Financial market turmoil underscores the need for "generous" capital cushions, and banks need to actively raise money as needed, Federal Reserve Chairman Ben Bernanke said Thursday.
The economy is continuing to slow, particularly in manufacturing, though some areas are not quite as bad as expected, according to the latest reports out Thursday.
Germany posted the strongest economic growth since 1996 in the first quarter of 2008, leading the euro zone's GDP to rebound more than expected in the first quarter.
The United States and China both need to fend off a troubling rise in economic nationalism in order to keep their economies strong, U.S. Commerce Secretary Carlos Gutierrez said on Thursday.
In the real world, gasoline prices surged 5.6% in April, but the government smooths out seasonal oddities so prices appeared lower in Wednesday's inflation report.
Bond fund leader Pimco's Mohamed El-Erian on Wednesday said the Federal Reserve does not have the tools to deal with the U.S. housing crisis and rapidly rising consumer prices, leaving it to lawmakers to avert a severe recession.
Former Federal Reserve Chairman Paul Volcker Wednesday said the central bank's role in overseeing financial markets needs to be more clearly defined and the that of rating agencies, sovereign wealth funds and hedge funds in the financial crisis should be weighed.
It’s another record in the real estate market, and it’s not a good one. RealtyTrac, the online foreclosure sale site, which has also been tracking foreclosure activity since the beginning of 2005, reports the single largest one-month volume of foreclosure activity it’s ever seen.
Consumer prices rose a smaller-than-expected 0.2 percent in April as energy prices held steady, a Labor Department report on Wednesday showed.