Last week's mortgage applications show a seasonally adjusted decrease 8.2% from the pace of the week before, reflecting a drop in homeowners seeking to refinance their mortgages, according to Mortgage Bankers Association data. Data on filings and mortgage rates have drawn keen interest from investors and economists alike, in line with the Federal Reserve's move this week to start purchasing mor...
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U.S. equities managed to keep their head above water yesterday despite a profit warning from Bank of America (BAC) (recall they now own Merrill Lynch (MER) and Countrywide) and very soft home sales and factory orders. So why the newfound tentative optimism? The bull’s case is that stocks are clearly benefiting from: asset reallocation from overvalued government bonds into equities, i.e. a...
Stocks discussed on Jim Cramer's Stop Trading! TV program, Tuesday January 6. Joy Global (JOYG), Caterpillar (CAT), Home Depot (HD), Lowes (LOW) Cramer reiterated his prediction that housing will fall by the end of June and pointed to lower real estate prices in New York and falling mortgage rates; “If mortgage rates go to 4%,” Cramer said, “are we really going to sit on the s...
Euro Plummets as Euro-zone CPI Falls to More Than 2-Year Low, Suggest ECB Will Cut Rates January 15
Tue, Jan 6, 7:48 PM ET
The euro fell sharply across the majors on Tuesday as Euro-zone CPI estimates plunged more than expected to a 2-year low of 1.6 percent in December from...
The walls are closing in on Treasury money market funds. With rates near zero on the new short-term Treasury securities they must invest in, it is...
The walls are closing in on Treasury money market funds. With rates near zero on the new short-term Treasury securities they must invest in, it is...
Filed under: Market matters, Money and Finance Today, Federal Natl Mtge (FNM), Goldman Sachs Group (GS), Federal Reserve, Financial CrisisLast Friday the Fed announced a $200 billion dollar program for buying toxic assets from banks to help them stay afloat. Yesterday the New York Federal Reserve Bank started a new $500 billion dollar program for buying toxic securities from Freddie Mac (NYSE: ...
The euro tumbled as Euro-zone CPI estimates show that inflation has fallen below the ECB's 2.0% target, adding to speculation that the bank will cut rates...
Filed under: General Electric (GE), Bank of America (BAC), CIT Group (CIT), Personal finance, Initial public offerings, Federal Reserve, Financial CrisisIs the Fed's program of slashing interest rates to near zero having any beneficial effects? If we look back at the past three months investors have been running away from any investment with the least bit of risk. This is why we've seen such a ...
US Dollar Gains Against Euro, Yen Despite Dismal Data, Slump Versus High Yielders
Tue, Jan 6, 4:13 PM ET
- Euro Plummets as Euro-zone CPI Falls to More Than 2-Year Low, Suggest ECB Will Cut Rates January 15 - British Pound Rallies Despite Signs of Impending...