JustQuotes: The Fed Cuts By 0.75% Amid “Weakened” Outlook
“The Federal Reserve cut its main lending rate by three-quarters of a percentage point to 2.25 percent as officials try to prop up the faltering economy and restore faith in…
Two Economic Hands: Which Is The Left, And Which Will Be Right?
On the one hand are the economists at UCLA: “…the housing collapse won’t cause a California recession because the sector is too small to cause the state’s overall economy to…
A Liquidity Boost (And A Chance To Launder Some “AAA” Securities?)
“The Federal Reserve, struggling to contain a crisis of confidence in credit markets, plans to lend up to $200 billion in exchange for mortgage-backed securities. The Fed coordinated the effort…
And What Happened Seven And One Half Years Ago In San Francisco?
As we’ve often pointed out, sales volumes and home price appreciation have been falling in San Francisco over the past couple of years despite the fact that that by most…
New Conforming Limits Expected Today, Access Within A Month?
Increased FHA loan limits for high-cost areas were announced and effected yesterday (apparently Wells Fargo will begin writing in about two weeks). Today, the new conforming loan limits are expected…
JQ: While The Fed Giveth (Cuts), The Street Taketh Away (Spreads)
“The extra yield that investors demand to own so-called agency mortgage-backed securities over 10-year U.S. Treasuries rose to the highest since 1986, boosting the cost of loans for homebuyers considered…
Did Your Portfolio Help Bailout An Overleveraged Homeowner Today?
Federal Reserve Chairman Ben Bernanke, urged lenders “to forgive portions of mortgages held by homeowners at risk of defaulting” this morning in Orlando. “Lenders tell us that they are reluctant…
JustQuotes: Freddie Follows Fannie (As Is Human Nature)
“Freddie Mac, the second-largest mortgage-finance company, posted a record $2.45 billion loss for the fourth quarter as rising defaults sent credit costs soaring….Government-chartered Freddie Mac and Fannie Mae, which account…
JustQuotes: What The OFHEO Are They Thinking?
“U.S. regulators removed limits on the combined $1.5 trillion mortgage portfolios of Fannie Mae and Freddie Mac, enabling the companies to increase financing for the slumping housing market. The asset…
JustQuotes: Damn Those “Broader Effects”
“Sales of existing homes in the U.S. fell in January to the lowest level since records began nine years ago and prices slid for the sixth time in seven months,…