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Mortgage Rates, Misery Index, Foreclosures, Case Shiller, OPEC, Credit Default Swaps

October 29, 2008 By Bill Rice Leave a Comment
misery-index_thumb

Mortgage Rates Rise as US Market Soars We get a big, even historic, upward bounce in the US stock market. Meanwhile mortgage rates are taking a negative bounce. The interesting part is that one of the stated US government bailout objectives was to preserve or even increase mortgage affordability. However, these same interventions into markets are causing precisely the opposite (possibly short-term) effect: With so much government debt guarantees in the bond market yield spreads between mortgage bonds … [Read more...]

Filed Under: Commercial Paper, Economy, Federal Reserve, Foreclosure, Housing Prices, Mortgage Rates Tagged With: case shiller, credit default swaps, Foreclosure, Housing Prices, misery index, Mortgage Rates, opec

Yields Spread Mortgage Rates Rise, Homebuilders Housing Fix, Soros on Denmark Mortgage Market, Your $700 Billion at Work

October 28, 2008 By Bill Rice Leave a Comment
halloween

Yields Spread and Mortgage Rates Rise Fannie, Freddie, and Ginnie mortgage bonds continue to pull away from US Treasuries. The difference between yields on Washington-based Fannie's current-coupon 30-year fixed-rate bonds and 10-year U.S. Treasuries rose about 21 basis points to 224 basis points as of 4:30 p.m. in New York, data compiled by Bloomberg show. That's up from 162 basis points, or 1.62 percentage point, on Oct. 20. "It is the deleveraging,'' Mohamed El-Erian, the co-chief executive officer … [Read more...]

Filed Under: Commercial Paper, Economy, Housing Prices, Mortgage Notes, Mortgage Rates Tagged With: $700 billion bailout, denmark, homebuilders, housing market, Housing Prices, Mortgage Rates, soros, yield spreads

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

Government to Buy Unsecured Corporate Debt

October 7, 2008 By Bill Rice Leave a Comment

The Government is now REALLY wading taxpayers into dangerous waters-considering buying (unsecured corporate debt) commercial paper. Link tour of the issue: Credit crunch continues to spread, freezing corporate credit (NYTimes) Federal Reserve and Treasury discuss buying commercial paper (Reuters) $95 billion has flowed out of the commercial paper market in the first week of October (Telegraph) Bill Gross of PIMCO never saw a bailout he didn't like (Bloomberg) … [Read more...]

Filed Under: Commercial Paper, Federal Reserve, Treasury Tagged With: bill gross, Commercial Paper, debt, fed, pimco, Treasury