Fannie Mae and Freddie Mac. What cute-sounding names. They suggest adorable siblings, not twin financial disasters that may cost $1 trillion when we get the final bill.
According to Edward Pinto, Fannie Mae’s former chief credit officer, in 2008 the two government-supported mortgage finance companies, along with the Federal Housing Administration [...]
Posts Tagged ‘borrowing’
Kotlikoff: How to Fix the Mortgage Mess
January 17th, 2011 by Financial Writer
Tags: au, bank, banks, borrow, borrowers, borrowing, business, buyers, Debt, economic, economics, fannie Mae, fed, finance, financial, freddie Mac, glo, Global Financial, government, home prices, housing, interest rate, Invest, investment, investor, investors, lender, lenders, loan, loans, money, mortgage, mortgage applications, mortgage finance, mortgage market, mortgages, oil, president, rate, stock, subprime mortgages, taxpayers, ubs, us, wall street
more...Mortgage-Bond Slump ‘Won’t Be Fun’ for Housing: Credit Markets
December 13th, 2010 by Financial Writer
A slump in government-backed mortgage securities that’s sent yields to the highest level since May is threatening a recovery in the U.S. housing market, which had been bolstered by record-low borrowing costs.
Yields on Fannie Mae-guaranteed securities that most affect loan rates jumped as high as 4.21 percent today, an increase [...]
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Consumer spending lifts U.S. growth
November 17th, 2010 by Financial Writer
U.S. economic growth edged up as expected in the third quarter, but not enough to chip away at high unemployment or change perceptions of more monetary easing from the Federal Reserve next week.
Gross domestic product expanded at a 2.0% annual rate as consumer spending rose at its quickest pace since 2006 and businesses continued to [...]
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U.S. recovery slowdown a ‘concern’: Carney
November 16th, 2010 by Financial Writer
Bank of Canada governor Mark Carney said Friday the slowdown in the U.S. recovery is of “some concern” to the central bank and whatever unfolds will have a “significant” impact on this country’s economy.
In an interview with U.S. business network CNBC, he said the low level of U.S inflation — due to a debt overhang [...]
Tags: au, bank, banking, ben, borrow, borrowing, business, business network, Canada, central bank, China, crisis, Debt, economic, economic growth, economy, fed, Federal Reserve, financial, financial crisis, financial markets, financial reform, glo, Global Financial, home sales, household, households, housing, increase, inflation, marketplace, monetary, rate, recession, retail sales, sales, united states, us
U.S. Two-Year Treasury Yield Near Record Low on Speculation Japan Will Buy
September 15th, 2010 by Financial Writer
Treasury two-year yields were three basis points away from a record low on speculation Japan will invest proceeds from its yen sales in U.S. government debt.
The notes held a three-day rally as the central bank prepared to buy securities maturing from March 2012 to February 2013 today as part of its plan to spur the [...]
Tags: bank of japan, borrowing, economists, financial system, interest rates, us central bank
Markets look for political leadership
March 3rd, 2010 by Financial Writer
The fundamental, and at times, passionate debate about sovereign debt is a predictable part of the sequencing of the financial crisis rumbling through the West. The crisis has exposed three major fault lines in our fiscal systems. First, it broke the banking system, the fixing of which has extracted a heavy cost. Second, it shocked [...]
Tags: banking system, borrowing, debt crisis, economic growth, financial crisis
Fed to Get $200 Billion Boost
February 24th, 2010 by Financial Writer
The Treasury said it will borrow $200 billion and leave the cash proceeds on deposit with the Federal Reserve, reviving a program that will make it easier for the Fed to raise interest rates when the time comes.
Officials sought to dispel the notion that the move marks a step toward tightening credit now.
Fed Chairman Ben [...]
Tags: ben bernanke, borrow, borrowing, fed, Federal Reserve, financial services, interest rates
Debt crisis unsettles European economy
February 7th, 2010 by Financial Writer
Governments in Athens, Madrid and Lisbon struggled on Friday to quell fears of a looming debt crisis in Europe that is pummeling the euro and rippling across global markets, as authorities vowed to impose fiscal austerity and plug their yawning budget deficits. The problem, however, is that investors don’t appear to believe them.
Senior officials at [...]
Tags: borrowing, debt crisis, european economy, financial reckoning, investor, us exporters
Consumer borrowing falls sharply in November
January 9th, 2010 by Financial Writer
Americans borrowed less for a 10th consecutive month in November with total credit and borrowing on credit cards falling by the largest amounts on records going back nearly seven decades.
The dramatic declines raised new worries about whether consumers will cut back further on spending, making it harder for the economy to mount a sustained rebound.
The [...]
Tags: borrowing, consumer, credit cards, economic activity, economic recovery, Federal Reserve