Monthly Archives: August 2012

More Of The Same From Bernanke At Jackson Hole

Federal Reserve Chairman Ben Bernanke delivered a mostly somber message on growth Friday, but offered no further central bank action to stimulate the moribund economy. In his much anticipated speech from the central bank summit in Jackson Hole, Wyo., Bernanke … Continue reading

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Senators Press to Extend Tax Relief on Short Sales and Principle Reductions

A group of senators are pressing Majority Leader Harry Reid, D-Nev., to allow a vote on a package of tax relief extensions set to expire this year, including a break for mortgage principal forgiven in loan modifications or short sales. … Continue reading

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My Thoughts for the Week of August 27, 2012

This week we have the Republican Convention, Treasury auctioning $99B of notes, Europe still unable to get anything accomplished, two reports on consumer confidence and sentiment, July personal income and spending AND the most important event this week—on Friday Bernanke … Continue reading

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8/22/2012 FLOAT ALERT!!

Today we are seeing a much welcomed improvement in rate pricing after 3 weeks of hammering. Lenders across the board are repricing today for the better. This means that the credit you would get for a specific rate will be … Continue reading

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My Thoughts for the Week of August 20, 2012

There isn’t a lot of data to affect markets this week; July existing and new home sales along with the minutes from the last FOMC meeting are the highlights. Still a bearish market for interest rates although there is a … Continue reading

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My Thoughts for the Week of August 13, 2012

The three auctions last week the US Treasury held to sell $72 billion in notes saw a major decrease in demand, a dramatic change from the last several months in which the world was snatching up our Governments bonds which … Continue reading

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Fannie Mae And Freddie Mac Both Avoid U.S. Aid This Quarter

(Bloomberg) — Fannie Mae said it won’t need aid from the U.S. Treasury for a second straight quarter as rising home prices bolster the housing market. Net income was $5.1 billion in the second quarter, enough to offset a dividend … Continue reading

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My Thoughts for the Week of August 6, 2012

Last week had a lot of big economic reports, including the July employment report Friday which showed double the job growth than was expected, yet the unemployment rate increased from 8.2% to 8.3%. The surprise spurred a rally in the … Continue reading

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