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
Stocks declined Tuesday, with financials taking a beating after news of more fallout from the subprime mess at Citigroup. Energy stocks also fell as oil prices receded.
The homebuilders have been so tortured they might be ready to trade again.
Find me an analyst or an investor who's excited about this week's same store sales results. Literally, the expectations are so low for this first month of the first quarter, that any indication of a rosier March may cause volatility around share prices when the nation's biggest stores report same store sales results for the month of February on this Thursday.
Stocks declined Tuesday after dismal corporate news about Intel and Citigroup.
I have to say I’ve been confused over the last few months. Treasury officials, big lenders like Countrywide, and President Bush keep telling me that everybody is now working together to stop foreclosures, to modify loans, to keep Americans in their homes.
U.S. stock index futures pointed lower Tuesday, with no major data expected and with corporate news adding to investors' gloomy mood.
The text of a speech by Federal Reserve Chairman Ben Bernanke on Reducing Preventable Mortgage Foreclosures given on March 4, 2008 in Orlando, Florida.
A year ago, spreads between the long bond and the 2-year note were close to zero. At the start of February 2007 we were looking at a slightly inverted yield curve, often a predictor of a recession. Now, a year later, the spread is approaching 300 basis points, hitting 292 on Friday. We haven't hit spreads that wide since 2004. Here is a 10 year history of treasury yields...
Australia's central bank on Tuesday raised interest rates to a 12-year peak of 7.25 percent as it fought to keep inflation under control, but noted tentative signs the red-hot economy might be cooling.
In a series of exclusive live appearances on CNBC's Squawk Box this morning, Warren Buffett told us that by a "common sense definition", the U.S. economy is already in a recession, even if it hasn't met the technical definition of two consecutive quarters of negative growth. He restated, however, his view that over the long-run the U.S. economy will do fine and that each generation will live better than the one before it.
The combined punch of subprime mortgage defaults and heavy debt remains the biggest risk to the health of the U.S. economy, a panel of business economists said Monday.
As you know, I was out sick all last week, so I have a lot of pent up "bloggage." This morning NY Attorney General Andrew Cuomo announced a deal with Fannie and Freddie and OFHEO to change the way the whole appraisal system works. No question, this is a good thing
On Saturday morning, when most of us where headed off to soccer or gymnastics or the hardware store, Fannie Mae and Freddie Mac were officially getting their portfolio caps lifted. Fabulous, right? Exactly what they’d been pushing for, as the government-inspired, if not actually backed, entities are seen as sort-of saviors of the mortgage market.
Japan's government may be forced by opposition lawmakers to change its candidate to head the central bank, with former Deputy Governor Yutaka Yamaguchi a possible alternative, local media reported on Sunday.
Plans for sweeping federal programs that would aid troubled mortgage borrowers would bring unfair relief to speculators and reward investors who made bad bets, U.S. Treasury Secretary Henry Paulson said Thursday.
The European Central Bank’s outlook on interest rates will dominate the European stock markets next week, when trading is likely to drift in light volumes ahead of Thursday’s big announcement, traders told CNBC.com.
Today I have the first television interview with Jeff Greene, a Beverly Hills real estate mogul who single-handedly shorted subprime. His $50 million investment is up tenfold, to $500,000,000. He is apparently the first individual investor to do such a trade.
The chance of an aggressive 75 basis points cut in the Federal Reserve's benchmark interest rate shot up to 62 percent on Friday, as U.S. equity futures pointed to a lower open and Treasury prices surged.
Euro zone economic sentiment fell more than expected in February to its lowest in over two years, highlighting risks to growth and boosting the chances of an ECB rate cut, despite a confirmed surge in January inflation.
A Bay Area suburb grappling with declining revenue and ballooning employee expenses may become the first city in the state to declare bankruptcy.