Mortgage Demand Increases Amid Modest Rate Drop
The increases in refinancing and purchasing mortgage options is a good sign that the Fed's interest rate hikes are working, but some warn that will not last.
Did Fannie Mae Overpay Bank Of America For Servicing Rights?
The taxpayer-owned Fannie Mae paid more than legally required to Bank of America Corp (NYSE: BAC) and 12 other lenders when it spent $1.5 billion in termination fees for servicing rights on 1.1 million loans between 2008 and 2011. The mortgage giant argues that while it paid a premium over the minimum required price, it paid for the transfers at an ?appropriate rate.?
Copper Prices Slip But Remain Near 4 1/2-Month High
London copper slipped on Monday, but still retained most of the previous session's steep climb to a 4-1/2 month top as a new round of
U.S. monetary stimulus measures and a weak dollar continued to support prices.
Week Ahead: Asian Stock Markets To Be Moderately Bullish
Asian stock markets posted their biggest weekly gains in almost nine months after the U.S. Federal Reserve announced that it would purchase $40 billion in mortgage-backed securities per month for an open-ended period until the labor market improved substantially.
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Asian Stocks Rally On Fed Stimulus Action
Asian stock markets rallied to a four-month high Friday after the U.S. Federal Reserve launched another large scale of asset purchase program overnight to stimulate the world's largest economy.
European Markets Rise After US Fed QE3 Announcement
European markets rose Friday as investor sentiment turned positive following the announcement of another round of quantitative easing by the U.S. Federal Reserve.
Crude Oil Futures Rise Above $99 After Fed Action
Crude oil prices advanced in Asian trading Friday, extending overnight rally after the U.S. Federal Reserve launched another round of quantitative easing to rejuvenate the economic growth.
Asian Markets Gain As Fed Launches QE3
Asian stock markets made gains Friday as investor confidence was lifted following the announcement of another round of quantitative easing by the U.S. Federal Reserve which is expected to rejuvenate the economic growth.
Bernanke Press Conference On QE3 - Live Blog
The Fed's decision to increase securities purchases by $40 billion per month - QE3 - exceeded analysts' expectations, and in his press conference Bernanke outlined the central bank's reasons for the move.
Manhattan Rental Vacancy Hits 3-Yr High As Rentals Climb To Record
Citi Habitats, the city's largest rental brokerage, said Manhattan's residential vacancy rate jumped to a three-year high in August as rents continued to escalate.
Fed Announces QE3, Bigger Than Expected
The Federal Reserve will begin buying more than $80 billion of securities per month in the third attempt at stimulating the U.S. economy by boosting the central bank's balance sheet.
US Federal Reserve Sept. 13 Meeting Statement [Full Text]
In the statement, the Federal Reserve announced Thursday it will buy $40 billion per month of mortgage-backed securities, the start of the so-called third round of quantitative easing, QE3. The Fed also said it will continue 'Operation Twist,' bringing total securities purchased per month to $85 billion.
US Homebuilder Stocks Surge, But Will It Last?
One of the best-performing sectors this year was also one of the hardest hit by the recession: homebuilders, whose stocks have outpaced the broader market with a modest rebound in home prices and increased demand for properties, but much of recovery has unevenly benefited the luxury sector.
More Homeowners Rise Above Underwater Mortgages In 2Q: CoreLogic
The number of U.S. homeowners with negative equity, or underwater mortgages, fell in the second quarter as home prices increased and inventory fell, foreclosure data firm CoreLogic said Wednesday.
Paul Volcker, Regulation Icon, Freed Fannie Mae From Oversight
Paul Volcker, the former Federal Reserve chairman and a great proponent of new bank regulations, was a key enabler in the rise and eventual collapse of Fannie Mae, the government-sponsored enterprise focused on mortgage financing, according to a new book.
Qantas Move To Dubai Will Lower Costs, Help Stop Losses On Int'l Routes: Analysts
Dubai International is rapidly becoming a major international connection. For ailing Qantas Airways Limited (ASX: QAN) the move of its European hub from Singapore to the UAE will help lower the cost of shuttling travelers back and forth between Melbourne or Sydney and London.
The Middle-Class And The Death Of Culture
Culture in America is dead, largely because the middle-class does not care about such things.
Barney Frank's Speech To The Democratic National Convention [FULL TEXT]
Rep. Barney Frank, D-Mass., addressed the 2012 Democratic National Convention Thursday night. Here, his remarks as prepared for delivery.
Democrats Blast Republican National Convention As 'Open Mic For 2016 Candidates'
Critics say the event was all bark with no indication of how Republicans will execute the bite -- or, in fact, a dress rehearsal for the next presidential election
There Is Still No US Housing Recovery: Experts
Three reports released this week demonstrated positive trends in the U.S. housing market, but experts warn that a real recovery is still months away.
U.S. Consumer Confidence Down? Perhaps, But Back-To-School Spending Is Booming
Most of the country's largest merchandisers on Thursday reported solid same-store sales this month.
Shari Arison: The Wealthiest Woman In The Middle East
Shari Arison is the most powerful woman in Israel and the Middle East, and has a net worth of $3.9 billion to boot. But despite her numerous non-profit organizations and 25% stake in Israel's largest bank, Arison says she doesn't consider herself "a powerful person."
Top After-Market NYSE Movers (Delek, Cenveo, Demand Media, Radioshack, Stillwater, Nationstar, Hovnanian, Standard Pacific)
The top after-market NYSE gainers Friday were Delek US Holdings, Cenveo, Demand Media, Magnum Hunter Resources and Radioshack Corp. The top after-market NYSE losers were Stillwater Mining, Nationstar Mortgage Holdings, Hovnanian Enterprises, Standard Pacific Corp and SM Energy Co.
Fed Has Room To Provide More Stimulus, If Needed: Bernanke
The Federal Reserve has room to deliver additional monetary stimulus to boost the U.S. economy, Fed Chairman Ben Bernanke told a Congressional oversight panel in a letter.
US Mortgage Tax Deduction Remains Touchy Subject For Romney, Ryan And GOP
The government's role in the housing market does not generally inspire the same impassioned responses as abortion or health care, but the future of one mortgage tax policy could affect the fate of around $85 billion in taxpayer benefits.
Top After-Market NYSE Movers (SunTrust Banks, Best Buy, Trinity Industries, Krispy Kreme, Guess?, Hewlett-Packard, Big Lots, International Rectifier)
The top after-market NYSE gainers Wednesday were Western Asset Mortgage, SunTrust Banks, Best Buy Co, Trinity Industries and Krispy Kreme Doughnuts. The top after-market NYSE losers were Guess?, Inc, International Rectifier, Hewlett-Packard, Big Lots and Whitestone REIT.
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