More and more these days, I see (victoria bc condominiums) people l….
More and more these days, I see people looking for 15 and 10 year mortgages.
Central Bank Watch: Bernanke, Trichet Comments Rile Markets
Markets were captivated this week by U.S. dollar
comments from Fed Chairman Ben Bernanke, in which he expressed concern
over the U.S. dollar’s decline contributing to “unwelcome” increases in
import prices, and hawkish comments from European
Central Bank President Jean-Claude Trichet suggesting a hike at the
bank’s next policy meeting is a possibility.
Lehman Plans to Raise $6 Billion After $2.8 Billion Quarterly Loss
Shares of Lehman Brothers Holdings Inc. are down
sharply on Monday after the Wall Street bank reported a US$2.8 billion
loss in the second quarter against an expected loss of around US$300
million.
It was the first ever loss for Lehman as a public company, and
was…
U.S. Treasury Secretary Paulson Says Fundamentals of Economy Favourable
Despite five months of job losses and soaring oil prices, the
fundamentals of the U.S. economy remain favourable, said
U.S. Treasury Secretary Henry Paulson on Monday. However, he noted the
price of oil is a problem and that no policy initiatives are off the
table, including currency intervention.
Paulson was interviewed on CNBC as well as CNN on a variety of
issues.
He attributed the surge in oil prices to…
Former Fed Chairman Volcker Says U.S. Undergoing Political and Economic “Shakeup”
Delivering remarks at a luncheon organized by the International
Economic Forum of the Americas, Former Fed Chairman Paul
Volcker said he believed that the United States was undergoing a
difficult but necessary political and economic
shakeup.
The U.S. economy is undergoing a “prolonged period of adjustment”,
Volcker said, adding that this was not…
Lenders Facing Another Wave of Write-Offs
Federal regulators are warning the world to get ready
for the next wave of problems in the banking world.
Up to now banks have been struggling to deal with the piles of
delinquent debt from earlier subprime lending to homeowners and the
dozens of federal, state, and lender originated programs being proposed
are all designed to address this crisis.
That situation is only getting worse according to information released
last week by the Mortgage Bankers Association (MBA).
But, while lenders and investors have been working to raise the
necessary capital reserves to withstand looming write-offs and losses
from this consumer-based mess, a new group of bank customers have been
watching their own situation get worse.
Increase in U.S. Pending Home Sales Related to Foreclosures, Economist Says
After declining in five of the past six months, U.S. pending home
sales unexpectedly jumped 6.3% in April to reach a level of 88.2, the
highest level in six months, according to the National Association of
Realtors. Economists say the rising pace of foreclosures
may have helped the index.
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