A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Interest Rates ’
30-year mortgage rate hits another record low – CNNMoney
Bloomberg30-year mortgage rate hits another record lowCNNMoneyBy Les Christie and Jessica Dickler @CNNMoney May 24, 2012: 12:00 PM ET NEW YORK (CNNMoney) -- Buying a home got even cheaper this week as interest rates on the 30-year fixed-rate mortgage s...
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Housing Bust was Just a Preview of the Coming Catastrophe
I first came to national attention back in 2008 and 2009 when the housing and credit markets imploded. I became known as the guy that other market “experts” laughed at when I warned of trouble brewing in the seemingly indestructible American econom...
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How Greek economic woes could help US consumers – Full Story
(via The Christian Science Monitor) For the past three weeks, US interest rates have been falling. But, unlike normal times, it’s not because of actions taken by the Federal Reserve. This time, rates are dropping because of fears that Greece, which is still trying to form a government, will totally default on its loans....
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Mortgage rates hit record lows – again – CNN
BloombergMortgage rates hit record lows - againCNNBy Les Christie @CNNMoney May 17, 2012: 12:09 PM ET NEW YORK (CNNMoney) -- Buying a home just got even cheaper as interest rates on both 30-year and 15-year-fixed-rate mortgages set record lows for the ...
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Spain sells 3, 4 year bonds at higher rates – Full Story
(via AFP) Spain raised 2.494 billion euros ($3.173 billion) in a sale of three- and four-year bonds Thursday that saw Madrid pay higher rates, a sign of mounting concern over its debt position. The treasury paid interest rates of between 4.375 and 5.106 percent, up sharply from the last comparable operations…
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Behavioral Macro – Why we misinterpret Chinese RRR cuts
A quick comment on China’s RRR cuts: The underlying mechanics of Chinese RRR cuts and their implications for the country’s monetary policy stance still seem to be misunderstood. A Chinese RRR cut is NOT like a rate cut in the developed world. And it does not necessarily signify an easing of the monetary policy...
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Spain Raises Nearly $3.8 Billion In Debt Auction – TheStreet.com
Atlanta Journal ConstitutionSpain Raises Nearly $3.8 Billion In Debt AuctionTheStreet.comBy AP 05/14/12 - 07:12 AM EDT MADRID (AP) — Spain managed to raise €2.9 billion ($3.8 billion) in a short-term bond auction on Monday, but concerns over the fu...
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Our central bankers are intellectually bankrupt – Ron Paul in FT
by Ron Paul The financial crisis has fully exposed the intellectual bankruptcy of the world’s central bankers. Why? Central bankers neglect the fact that interest rates are prices. Manipulating those prices through credit expansion or contraction has real and deleterious effects on the economy. Yet while socialism and centralised economic planning have largely been...
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Spain Auctions $3.3BN in Mid-Term Debt – ABC News
Globe and MailSpain Auctions $3.3BN in Mid-Term DebtABC NewsSpain managed to beat its targets for an auction of medium-term debt, but at sharply higher interest rates, in its first bond sale since its credit rating was downgraded over fears that it may...
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Why the Eurozone Debt Crisis Never Really Went Away
How many times have we been told the Eurozone debt crisis is resolved, only to have it turn up again like a bad penny?
Last year's string of good news/ bad news on the Eurozone debt crisis had the markets going up and down like a yo-yo until the routine...
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European Markets Seen Rising Ahead of ECB Rate Decision – CNBC.com
AFPEuropean Markets Seen Rising Ahead of ECB Rate DecisionCNBC.comEuropean shares are seen opening higher Thursday with the European Central Bank's interest rate decision a major focus for markets. Broad consensus expects no change to interest rate...
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Lacker Says Fed May Have to Tighten With Unemployment at 7% – Bloomberg
BloombergLacker Says Fed May Have to Tighten With Unemployment at 7%BloombergFederal Reserve Bank of Richmond President Jeffrey Lacker said the central bank needs to be ready to raise interest rates even if joblessness exceeds 7 percent. Speaking in an...
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Australia cuts rate to support economy – Financial Times
Telegraph.co.ukAustralia cuts rate to support economyFinancial TimesBy Neil Hume in Sydney The Reserve Bank of Australia on Tuesday lowered interest rates by the largest amount since the height of the global financial crisis in an effort to support the...
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FOREX-Aussie hit by RBA cut, US dollar also struggles – Reuters
The GuardianFOREX-Aussie hit by RBA cut, US dollar also strugglesReuters* RBA surprises markets with 50 bps rate cut, Aussie tumbles * Dollar index hits 2-month low after lacklustre US data * Safe-haven yen hits 2-month high vs dollar * Dollar/yen char...
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Here is What’s Wrong With Bank of America (NYSE: BAC)
If you have a mortgage with Bank of America (NYSE: BAC) and want to refinance, don't bother.
You are not worth the bank's time. Or at least I wasn't.
That's what I learned first-hand last week when I called...
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Bank Stress Tests and the All-Clear-to-Rally Signal
Earlier this week I repeated that I've been cautiously bullish (too cautious, I also said) since October.
I also told you I was optimistic that all the major indexes would break through the important psychological, headline, and large-round-number resistance levels they started flirting with two weeks...
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Obama Bluffs on ReFi?
. &nbs...
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Fed Urges Entrapment of More Americans with Mortgage Debt
Jan 9 (Reuters) - The Federal Reserve has launched a potentially controversial push to revive the battered U.S. housing market, calling on other government officials to act after largely exhausting its own tools to support the fragile economic recovery...
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On Trading Central Tendency
It’s been about a week since the Federal Reserve announced its new policy of providing information to the public regarding the direction of US interest rates. The new policy is not, generally, a surprise. The Wall Street Journal’s Jon Hilsenrath to...
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The Fed’s Sleazy Idea Of “Transparency”
Don't believe the propaganda -- whenever the Fed offers "more transparency", they are only looking to twist the knife in Main Street's back further. Their latest announcement about publishing "interest rate projections" is no different...
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Fed to map out each member’s rate forecast
Fed to map out each member’s rate forecast
Central bank set to change “mid-2013” guidepost on keeping rates low
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) — The Federal Reserve has decided to shift its communication strategy to show t...
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The Sharks Smell a Bubble Right In The U.S. Heartland
The “smart money” has been buying up farmland hand over fist for the past few years and you can see how they helped drive up land prices in the U.S. heartland. Some think this is the place to be if the shit really hits the fan. Not gold,...
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Out of Answers, Federal Reserve Can Only Offer Empty Rhetoric
The Federal Open Market Committee (FOMC) is scheduled to issue a statement at 2:15 pm. today (Tuesday), but don't expect anything other than more empty rhetoric.
Indeed, with few options remaining, the Fed is expected to produce little more than a statement designed to reassure the markets following today's...
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The Battle of the Euro Bond
With only the weak-willed Angela Merkel playing the role of “Frodo” against the “Dark Lords” of Wall Street, the situation could hardly be more dire – or hopeless.
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The Fed Can’t Print Oil
“If society consumed no energy, civilization would be worthless. It is only by consuming energy that civilization is able to maintain the activities that give it economic value. This means that if we ever start to run out of energy, then the value...
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SPX and VIX Updates: Bears Running Out of Real Estate
Yesterday, the Fed announced that it will continue to keep interest rates low "until late 2014 or until we all get fired, whichever comes first." The market immediately rallied, as hopeful investors cheered the news that the Fed&nb...
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