US economy facing substantial risks
The US economy is still facing “substantial risks” as the property bust spreads to commercial real estate and the recession engulfs the world, a top White House adviser has said. Larry Summers, chair of the National Economic Council, said there were signs that worst may be over but warned that “it is a long road [...]
April 20, 2009
Tags: consolidate debt loans, new home sales, recession, US mortgage rates Posted in: Uncategorized 
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Almost one million home owners in negative equity, says CML
Almost one million home owners are in negative equity, the Council of Mortgage Lenders has suggested. It claimed that about 900,000 home owners currently have some degree of negative equity, where the value of their home is less than their mortgage. Bob Pannell, head of research at the CML, said negative equity had “resurfaced” as [...]
April 17, 2009
Tags: consolidate debt loans, home loans, Loan calculator, new home sales Posted in: Uncategorized No Comments
US housing data puts Obama’s hopes on hold
The fledgling recovery in the US housing market appears to have stalled, reducing the chance of President Barack Obama’s “glimmers of hope” turning into green shoots any time soon. Stock markets were little changed as US consumer prices posted their first annual decline since 1955. Trader John Cetera of Hamilton Executions on the floor Hopes [...]
April 16, 2009
Tags: Barack Obama, inflation, mortgage calculator, new home sales, US loans rates Posted in: Uncategorized No Comments
RBS announce record corporate loss
Following yesterdays UK GDP data the pound looked resolute and stable, trading towards the top of the range against the dollar and the euro. This illusion was shattered by dovish comments from MPC member Blanchflower and the news that RBS announced the biggest loss in corporate history at £24.1 bn; this was attributed by Chairman [...]
February 26, 2009
Tags: Bank of England, Credit Crunch, new home sales, UK loans rates, unemployment Posted in: Uncategorized No Comments
Weak US data worries loans calculators
Stocks suffer as a combination of weak economic and corporate news reinforced fears of a prolonged global recession. Where to start; news from China showed that the economy there is in sharp decline removing any hope that China’s growth will cushion the impact of the global downturn and reversed optimism sparked by China’s announcement over [...]
November 11, 2008
Tags: Credit Crunch, Loan calculator, new home sales, US mortgage rates Posted in: Uncategorized No Comments
US housing continues to slump
US final GDP rose at a revised annual rate of 3.8% for the second quarter which was right on expectations. Note this is for the period April to June prior to the recent turmoil. US initial jobless claims for the week unexpected dropped for the week ended September 22. US new home sales resumed falling [...]
September 28, 2007
Tags: new home sales, UK loans rates Posted in: Uncategorized No Comments
Weak US housing data causes high yielding currencies to fall
A report that Boston-based State Street Bank has 22 billion dollars in exposure to asset-backed commercial paper conduits brought further pressure to the dollar. The Times said State Street has credit lines to at least six conduits, which account for 17 percent of its total assets. Investors have become nervous about the off-balance sheet vehicles [...]
August 28, 2007
Tags: ECB, new home sales, sub prime loans Posted in: Uncategorized No Comments
New homes sales weaken loans markets
The US refinancing market has started the week under pressure following weaker than expected New Home Sales figures for February. Lenders had received a boost towards the end of last week when Existing Home Sales figures came in above consensus. The mixed housing data only adds to the confusion surrounding the state of the US [...]
March 27, 2007
Tags: Interest Rates, new home sales Posted in: Uncategorized No Comments
