The housing industry has waited three months to find out how Mel Watt will govern taxpayer-owned mortgage companies Fannie Mae and Freddie Mac.» Read More
While the Street is somewhat disappointed with the details of the stimulus package (most feel that $300 per person is not going to make a big difference), there is agreement that raising the conforming loan limit for mortgages that Fannie Mae and Freddie Mac can buy to $625,000 from $417,000 is an important development.
The surprise rate cut coming from the Federal Reserve appeared to calm investors somewhat after dramatic drops overseas. What's the word on the Street?
Stocks are rallying modestly off their mid-morning lows on several events: 1) Stimulus package talk--A stimulus package is a big topic on the Street today after House Majority leader Steny Hoyer said a stimulus package could be law within a month.
Apple shares popped ahead of its highly-anticipated Macworld exposition this week. How should you trade? Also get the Intel trade and Pete Najarian's rate-cut play.
M&T Bank and Sovereign Bancorp, two of the largest banks in the eastern United States, said on Monday turmoil in credit, mortgage and real estate markets hurt fourth-quarter results.
If you’re brave enough to trade against the trend you could make a lot of money. Following are the traders' high risk and high reward plays.
Who will cut their dividend next? It's one of the main sports on the Street, but Credit Suisse is trying to get a little more scientific about this. MBIA yesterday joined a growing line of companies cutting their dividend, a group which now extends to Fannie Mae, Washington Mutual, National City, and Sallie Mae.
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.
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?!
I'm out of the office today, but I'll be back -- and blogging -- on Wednesday. Happy Holidays!
The folks at HUD felt that my blog of yesterday left out some key points, namely, their side of the story, so I am happy to post a reply directly from them.
Jon Najarian, co-founder of Optionmonster.com, Bill Nichols, senior managing director at Bear Stearns, and Steve Grasso, broker at Stuart Financial, named the stocks that confident investors should buy.
The chief executive of Fannie Mae told shareholders that he does not expect a recovery for the ailing U.S. housing market until 2009, but that the mortgage-finance company is strong enough to ride out the storm.
Bernanke should leave the ivory tower and get on a trading desk. 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.
The housing market isn't likely to recover fully for at least two years, while the mortgage industry faces continued massive losses, the CEOs of Fannie Mae and Freddie Mac said.
Getting a mortgage is getting more expensive, even for borrowers with good credit, thanks to the subprime crisis.
Stocks closed sharply higher on hopes that a government plan to stem home foreclosures would help ease the housing slump's drag on the economy and underpin profit growth.
If the Fed cuts rates, this mortgage lender goes much, much higher.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.
Stocks posted their biggest gains in a week even though a series of strong economic reports cast doubts about whether the Federal Reserve will cut interest rates next week.
Futures up a bit on the strong ADP report. This is a clear sign that the market wants a decent jobs report, even if it might slightly reduce the chance of an aggressive Fed rate cut. As noted yesterday, financials analysts are now cutting 2008 estimates.