The Mortgage Crisis Blog » Finance

Australian & New Zealand Weekly: RBA – More to Do, then On Hold for Longer

The Mortgage Crisis Blog — Sat, 21 Feb 2009 05:45:40 +0000

Australian & New Zealand Weekly Week beginning 9 February RBA: more to do, then on hold for longer.Westpac-MI Consumer Sentiment: will jumbo stimulus offset growth gloom?Australian data: housing finance and labour force figures due.New Zealand data: house prices and retail sales.US data: trade deficit, retail sales and consumer sentiment.US Fedspeak: Bernanke testimony, Fisher, Dudley, Evans.Key economic & financial forecasts. Australia: RBA – More to Do, then On Hold for Longer As we pr

Large U.S. banks on brink of insolvency, experts say

The Mortgage Crisis Blog — Sat, 14 Feb 2009 22:11:00 +0000

Large U.S. banks on brink of insolvency, experts say By Steve Lohr Some of the large banks in the United States, according to economists and other finance experts, are like dead men walking. A sober assessment of the growing mountain of losses from bad bets, measured in today’s marketplace, would overwhelm the value of the banks’ assets, th

Some Large Banks Are ‘Like Dead Men Walking’

The Mortgage Crisis Blog — Fri, 13 Feb 2009 13:33:50 +0000

http://www.nytimes.com/2009/02/13/bu…t.html?_r=1&hp By STEVE LOHR Published: February 12, 2009 Some of the nation’s large banks, according to economists and other finance experts, are like dead men walking. A sober assessment of the growing mountain of losses from bad bets, measured in today’s marketplace, would overwhelm the value of the banks’ assets, they say. The banks, in their view, are insolvent. None of the experts’ research focuses on individual banks, and there are c

Buying And Selling a Home During a Credit Crunch

The Mortgage Crisis Blog — Sun, 08 Feb 2009 21:09:04 +0000

February 8, 2009 | By CoryShrader In real-estate | As President Obama is taking office, many people who had hoped to buy a home in 2008 or 2009 are stressing as to whether a bank will be found, which will finance a home purchase. The TARP bill (Troubled Assets Relief Program of 2008) was intended to secure bad assets in our banking institutions, in order to permit banks to open their vaults once again and issue new loans. Four months down the road, banks are still holding onto their cash i

U.S. mortgage rates at highest level since December (Reuters via Yahoo! News)

The Mortgage Crisis Blog — Thu, 05 Feb 2009 18:06:25 +0000

U.S. mortgage rates jumped to their highest levels since December in the latest week, complicating government efforts to bring mortgage rates down to levels that will spur demand and help the hard-hit housing market begin to recover.

Fixed Mortgage Rate Rises to 5.25%, Freddie Mac Says (Update2) (Bloomberg)

The Mortgage Crisis Blog — Thu, 05 Feb 2009 17:41:15 +0000

Feb. 5 (Bloomberg) — The average U.S. rate on a 30-year fixed mortgage rose this week, thwarting Federal Reserve efforts to cut borrowing costs, on investor concern the government will increase spending.

Rules for Protecting Your Credit Limits

The Mortgage Crisis Blog — Thu, 05 Feb 2009 17:08:56 +0000

If you make a late payment on your credit card, take out a big loan, or bounce a check, don�t be surprised when your credit limit starts to shrink. Banks lost a lot of money during the mortgage crisis, and they�re looking for any excuse to minimize their risk of

CNN Survivor Stories – Family Sells Home To Save Flourish Boutique

The Mortgage Crisis Blog — Thu, 05 Feb 2009 16:53:05 +0000

CNN Survivor Stories – Family Sells Home To Save Flourish Boutique CNN.com has been featuring many stories of families who have been affected by the current economic crisis. Today there is a story about Vanessa Cooreman Smith and her husband Steve who have had to sell their house by the lake in order to keep her business going during the recession. It was the Vanessa’s dream to run her own successful store and she is doing everything possible to keep the Flourish Boutique going despite slowi

CORRECTED-UPDATE 1-Santander’s Abbey grabs a third of UK mortgage mkt (The Forex Market)

The Mortgage Crisis Blog — Thu, 05 Feb 2009 16:47:20 +0000

LONDON, Feb 5 (Reuters) – British lender Abbey, owned by Spain’s Santander, seized almost a third of the UK’s shrinking mortgage market in 2008 when rivals curtailed lending in a bid to protect their fragile balance sheets.

PCS moves spark mortgage woes, Congress told – Navy News, opinions, editorials, news from Iraq, photos, reports – Navy … (Navy Times)

The Mortgage Crisis Blog — Thu, 05 Feb 2009 16:39:22 +0000

The services’ senior enlisted advisers told lawmakers that the housing mortgage crisis is forcing military homeowners to make some difficult choices when they try to sell their homes to make a permanent change-of-station move.