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Jan 25, 2013 2:30PM
Mortgage rates skyrocketed to their highest levels since August on Friday, both as a part of an ongoing move higher that began yesterday and more specifically in reaction to overnight events in Europe. Strong economic data in Germany sent interest rates initially higher overnight, but the bigger surge followed an ECB announcement detailing the 278 of 523 European banks that had already begun paying back 3-year loans made by the ECB in late 2011. MBS (the mortgage-backed securities that most directly...
Jan 25, 2013 1:50PM
The U.S. Court of Appeals for the District of Columbia just ruled that three recess appointments made by President Barack Obama last year are constitutionally invalid . The Court ruled specifically on appointments made to the National Labor Relations Board (NLRB) during a Congressional recess last January but the ruling has implications for the recess appointment of Richard Cordray to be Director of the Consumer Financial Protection Bureau which was made on the same day. The Office of White House...
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