Tags: Economy + Fannie Mae + Fed + Freddie Mac + Ginnnie Mae + investing + Markets
The feel good rally following the latest Fed rate cut would be believable if anything had changed. Ah, but it has, or will. Today Fannie Mae and Freddie Mac had their capital reserve requirements lowered from 30% to 20% permitting them to hold a greater amount of mortgages with less collateral on hand. We have to […]
Tags: Banks + Federal Reserve + investing + Markets + Treasury
Over the weekend the Fed orchestrated the sale of Bear Stearns to avert their probable bankruptcy filing. JP Morgan Chase agreed to pay $2 share. The Fed agreed to guarantee the risk Chase assumed on Bear’s mortgage-back securities. These aggressive moves were taken to temporarily put a floor beneath a quickly imploding financial system.
These monetary actions came on the heals of last […]
March 18, 2008 - Politics - 0 Comments
Tags: Fed + Interest Rates + investing + Markets + Stocks
The Federal Reserve is widely expected to cut rates for the seventh time today by .75 to 1 percent. So far banks have not passed to savings down to borrowers either in lower mortgage rates or lower business and consumer borrowing rates. They are hoarding the savings to shore up their own balance sheets making […]
March 18, 2008 - Markets - 0 Comments
Tags: Economy + Federal Reserve + housing + Interest Rates + Markets + Mortgages + Taxes
Federal Reserve chairman Ben Bernanke once again gave a sobering speach to update us on the credit crisis. Basically he said it that delinquencies and foreclosures would continue for some time principally for three reasons: (1) there was an on-going imbalance in supply and demand for housing (2) about one and a half million Adjustable
March 5, 2008 - Economy, Politics - 0 Comments
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