MortgageNewsDaily.com provides up to the minute news for the mortgage and real estate professional.
07 Sep 08, 01:09:50
The Week Ahead: U.S. PPI and Retail Sales
Traders expect U.S. bonds to potentially move lower with very little
data for markets to digest next week. The main data releases in North
America are expected later on in the week with the issuance of
U.S. PPI, retail sales and the University of Michigan/Reuters
consumer sentiment figures.
"Outside of data, traders will look for more fallout from the credit
market crisis including a possible U.S. de facto nationalization
of Fannie Mae and Freddie," he said.
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05 Sep 08, 08:09:39
Mortgage Delinquency Rate Hits 29-Year High in Second Quarter of 2008
Mortgage delinquencies for U.S. homes in the second
quarter of 2008 moved up six basis points from the previous quarter to
6.41% of all loans outstanding, marking a 29-year high, according to the
MBA's National Delinquency Survey released Friday.
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05 Sep 08, 07:09:34
Study Says U.S. 'Housing Bubble Has Popped'
A report on housing prices by Global Insight says that although prices
for single-family homes are still heading downwards across the country,
the rate of decline has gone down and "extreme overvaluation of
house prices is essentially non-existent."
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05 Sep 08, 06:09:07
Friday's Events: U.S. & Canadian Employment Reports; Ivey PMI
The Canadian and U.S. employment reports for August followed by the
Canadian Ivey PMI will be today's main highlights for North America. In
the afternoon, markets will also hear from San Francisco Fed President
Janet Yellen (non-voter).
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05 Sep 08, 06:09:19
August Nonfarm Payrolls Decline 84k, Unemployment Rate at 6.1%
U.S. nonfarm payrolls declined for the eighth straight
month, falling more than expected by a total of 84k jobs in
August, according to the Bureau of Labor Statistics on Friday. The
unemployment rate was pushed up four-tenths to 6.1% (6.055%), well above
expectations that it would remain at 5.7%.
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04 Sep 08, 09:09:05
Fed's Fisher Says Inflation Might Not Moderate
The most hawkish voting member on the Federal Open Market Committee
said on Thursday that it's unclear whether slow growth will moderate
inflation into 2009, and said there are even odds that inflation
will accelerate from its current level.
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04 Sep 08, 10:09:02
$7,500 Tax Credit Now Available to First-Time Home Buyers
When Congress passed the housing rescue bill (The Housing Assistance
Act of 2008) in July, we published an article about some of the
tax traps contained in the bill, waiting in hiding for
the unwary.
Warnings duly noted, further information and the
regulations regarding this tax credit are now available. If you have an
interest in the program, here are some basic
facts...
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03 Sep 08, 07:09:02
MBA Mortgage Applications Move Up in Week Ending September 3
Weekly mortgage applications in the United States
increased in the week ending Sept. 3, according to data released from the
Mortgage Bankers Association (MBA) on Wednesday, which reported a 7.5%
week-over-week rise in applications.
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04 Sep 08, 06:09:29
Thursday's Events: ECB & BOE Rates, ADP Employment, ISM Services, Fed-Speak
The Bank of England and European Central Bank rate decisions will kick
off the day, followed by the U.S. ADP unemployment report, initial
jobless claims, the ISM non-manufacturing index, Department of Energy oil
inventories and some Fed-speakers in the afternoon.
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04 Sep 08, 06:09:30
Initial Jobless Claims Rise to 444k
Initial claims for unemployment benefits in the
United States came in well above expectations, rising to 444k in the week
ending Aug. 30, the Department of Labor reported on Thursday. Continuing
claims rose to 3.435 million for the week ending Aug. 23.
Read More Now
Economy
08 Sep 08, 08:09:00
Government Seizes Mortgage Giants
The government seized Fannie Mae and Freddie Mac in its most dramatic market intervention in decades. Treasury plans to replace the companies' CEOs and provide up to $200 billion as part of the rescue. (Complete coverage)
07 Sep 08, 08:09:00
OPEC Debate: To Cut or Not to Cut
OPEC ministers could find it tough to cut output, with the U.S. and some European nations still flirting with recession.
06 Sep 08, 01:09:00
Jobless Rate Tops 6%
The jobless rate hit 6.1% last month, the highest in nearly five years, deepening political debate over whether a second stimulus package is needed.
05 Sep 08, 12:09:00
Productivity Is Revised Higher
Productivity jumped 4.3% in the second quarter, higher than initially estimated, while labor costs fell, reflecting a mix of employment declines and export-generated growth.
05 Sep 08, 09:09:00
Japan Business Spending Falls
Japan's business spending fell for the fifth-consecutive quarter during the April-June period, while corporate sales and profits also tumbled.
04 Sep 08, 10:09:00
Indonesia Raises Interest Rate
The key interest rate in Indonesia was raised a quarter point to 9.25%, predicting high inflation for the rest of the year.
05 Sep 08, 12:09:00
McCain's Bipartisan Hope
McCain's advisers are working on strategies for a McCain White House to avoid legislative gridlock if Democrats, as is likely, deepen their control of Congress.
04 Sep 08, 09:09:00
Beige Book: Economy, Spending Slow
The Fed said economic conditions remain "slow" as consumers pull back and focus on essentials, though exports continue to provide some boost to the economy. (Full report)
