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EU Reshaping Capitalism, without US? Rising Deficit, Rating Agencies, GM Chrysler Merger

October 20, 2008 By Bill Rice Leave a Comment
debt clock

Markets Overnight Mixed. Mortgage rate likely to continue upward trend on Fannie, Freddie debt sell-offs. Markets ready for Lehman $360 billion swap unwind. EU Strong-Arming US to Reshape Capitalism? President Bush, under concerns of ceding leadership of global financial leadership to the EU, agreed to hosting a global summit to have substantive talks on reshaping global financial systems. Reports indicate that French President Sarkozy was applying significant pressure to President Bush to host such … [Read more...]

Filed Under: Central Bank, Economy, G7, Mortgage Rates Tagged With: capitalism, chrysler, eu, gm, rating agencies, us

Mortgage Rates and Applications Up, Markets Down, Hedge Funds on the Run, Housing Prices–Still Down

October 16, 2008 By Bill Rice Leave a Comment
housing prices

Mortgage rates: Volatile, Lock Short, Float Long MBA reports mortgage applications up despite historic climb in mortgage rates. Overnight foreign markets take the same tumble that US markets felt yesterday. Look for another messy trading day. Here comes the run on hedge funds--$43 billion in September. JPMorgan, Wells Fargo, State Street--report profits, Citigroup and Merrill Lynch show losses. Bernanke says long recovery ahead. Consumers skeptical of bailouts' effectiveness. Bottom line to … [Read more...]

Filed Under: Housing Prices, Mortgage Rates Tagged With: Housing Prices, mortgage applications, Mortgage Rates

Mortgage Rates, Gordon Brown, New Bank Capital, and Credit Crisis in 30 Slides (or Less)

October 15, 2008 By Bill Rice Leave a Comment
hair nails gifts mortgages

Mortgage Rate Update: Volatile, Float UK Prime Minister Gordon Brown claims to be leading the world through the global banking crisis and it looks like he may be right, as the US and Treasury Secretary continue to take queues from UK government action. The mounting question on the US financial crisis rescue execution front is: Will banks lend or hoard new capital? Crisis of confidence #2: Recession begins new market slippage. Major US banks begin to report quarterly earnings this week. Harbors … [Read more...]

Filed Under: Commercial Paper, Federal Reserve, Mortgage Rates, Treasury, UK Banks, US Banks Tagged With: bill gross, Commercial Paper, credit crisis, gordon brown, Mortgage Rates, pimco, Treasury