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Follow up: Refinance America: A New and Improved Plan In a recently published study by the Federal Reserve they confirm what millions of American homeowners know first hand and what most professionals in the housing finance industry have known for over a year: namely, that millions of American homes...
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Home Today's Headlines ATW Forums Q&A Mortgage Rates Top Stories Profits Booked Ahead of Bernanke. How Fed Rhetoric Can Affect Mortgage Rates If Ben's tight rope walk is balanced and the short-end of the yield curve rallies as a result, it sure would make it a heck of a lot easier for the... - MBS...
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Kansas City Fed President Thomas Hoenig (non-voter) says that inflation is becoming embedded in the economy and that may compel a significant interest rate hike . In a speech in Denver, Colorado, Hoeing that consumers are showing an "inflation psychology to an extent that I have not since the 1970s and...
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The Federal Reserve announced Wednesday that it cut the Fed funds target rate by 25 basis points to bring the key interest rate to 2.00%. The discount rate was also cut by 25 basis points to 2.25%. In an accompanying statement, the Fed said "substantial" easing should promote growth, but that economic...
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Expectations for a pause in U.S. monetary policy were bolstered by an article in Thursday's Wall Street Journal, where noted Fed watcher Greg Ip said, "The Federal Reserve is likely to cut its short-term interest rate by a quarter of a percentage point next week -- but then may be ready for a breather...
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Dallas Fed President Richard Fisher, one of two Fed dissenters in the last FOMC rate cut decision, said he has a "strong reluctance" about further rate cuts . Speaking at the Chicago Council on Global Affairs, Fisher warned against "inflating our way" out of the credit crisis and that further cuts may...
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In order to prevent more foreclosures, Fed Governor Randall Kroszner said lenders should lower mortgage rates and reduce principal for borrowers whose home prices have dropped below their loan values. Testifying before the House Financial Services Panel on Wednesday, Kroszner urged Congress to move quickly...
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The International Monetary Fund said in a World Economic Outlook report that more rate cuts could be necessary from the U.S. Federal Reserve. The IMF revised down growth expectations for the U.S. in 2008 to 0.5% from 1.5% forecast in January. For 2009, U.S. growth is expected at 0.6%. "The effects of...
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Dallas Fed President Richard Fisher said the rate cuts delivered by the Federal Reserve have not been fully passed on to borrowers during a speech in San Antonio, Texas. Fisher said "breakdowns" in regulation contributed to the current crisis and that the economy continues to suffer from a "bout of anemia...
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Minutes from the Federal Open Market Committee's March 18 meeting revealed several members saw a risk of a "prolonged and severe" downturn and that there had been "little indication" of stabilization in the U.S. housing market. Officials had concerns that price expectations might loosen and had discussed...
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In spite of declining house prices and tightening credit, Americans are continuing to pull cash out of their homes according to Freddie Mac's Cash-Out Refinance Report for the fourth quarter of 2007, but in fewer numbers and much lower amounts than recorded even one quarter earlier. 81 percent of Freddie...
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In a nearly unprecedented move the Federal Reserve early Tuesday cut the Federal discount rate by .75 of a point, the largest single rate cut in 20 years. The move did not come at one of the Fed's regularly scheduled meetings but rather overnight in response to some truly dreadful news from foreign stock...
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If you are getting a little muddled by the number and variety of reports about mortgage interest rates, home sales, homes prices, and so forth that we report here, please believe they are not as confusing as they appear. These are among dozens of reports issued monthly, quarterly, and annually on the...