American Cities See Record Annual Foreclosure Rate Increases in Q2
Record high foreclosure rates in the second quarter
were reported in Los Angeles, Seattle, Miami and New York, according to a
report issued by PropertyShark.com.
Los Angeles led the four cities with a 282.01% increase in the second
quarter com...
Fed's Mishkin Says Fed Wants to Contain Inflation Expectations
Speaking at a conference in Israel, Federal Reserve board
Governor Frederic Mishkin said he currently sees an "upside
risk" to inflation expectations and that the Fed wants to contain those
expectations.
"U.S. inflation has risen recently, la...
Central Bank Watch: Market Attention Shifts to ECB - Finally Time to Hike?
After last week's highly-anticipated Federal Reserve rate decision, in
which rates were expectedly left on hold, markets have shifted their
attention to the upcoming European Central Bank rate decision on
Thursday.
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Mortgage Rates Mark Time Waiting for Federal Action
Mortgage rates continued to set record 2008 levels
with long term rates moving up slightly during the week ended June 26,
and short term rates increasing modestly but in double digits.
Mortgage applications increased 3.6 percent on a seasonally...
Wednesday's Events: U.S. Employment Data Ahead of Nonfarm Payrolls Thursday
Employment data from the United States and the
Department of Energy's weekly inventories report will highlight the North
American data on Wednesday as markets prepare for U.S. nonfarm payrolls
on Thursday. In the afternoon, markets will also be...
After ADP, Markets Expect Lower Consensus for Nonfarm Payrolls
Economists appear to be unanimous in their calls for increased
downside risk to Thursday's BLS nonfarm payrolls report,
following a weaker-than-expected ADP private employment report for June.
ADP figures showed a decline of 79k jobs in the mon...
CIT Group Sells Off its Last Home Related Business Interests
CIT Group announced on Monday that it was selling
both its home lending business and its manufactured-
housing division.
The lending business which has total assets of $9.3 billion as well as
servicing operations will go to Lone Star Funds for ...
Will Lehman Brothers Survive Another Round of Rumors?
Rumors were swirling about another major Wall Street player on Monday
as Lehman Brothers Holdings Inc. stock fell 11
percent.
The stock reached the lowest level it had seen since 2000 as the
Street's second smallest Wall Street firm was the su...
U.S. June Nonfarm Payrolls Decline 62k, Unemployment Rate Remains at 5.5%
U.S. nonfarm payrolls declined for the sixth straight
month, falling in line with expectations by a total of 62k jobs in June,
according to the Bureau of Labor Statistics on Thursday. May's jobs
figure was revised to a loss of 62k jobs from an ...
ISM Manufacturing Halts Four Months of Declines, Rebounds to 50.2
The U.S. manufacturing sector halted a four-month
trend of deterioration and rebounded into growth mode at 50.2 in June,
against expectations of a decline to 48.5, according to the ISM
manufacturing survey released on Tuesday morning. Despite t...
