Investor Files Suit Against Sallie Mae
Investor Robert Burch filed a class action suit against Sallie Mae on Thursday, accusing the company of misleading investors about the company’s subprime mortgage exposure.
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Archive for the 'Housing Market' Category (Chronologically Listed)
Make a Poor Investment? Just Sue Someone!
Florida Attorney General subpoenaed Countrywide Financial today as a part of a widening investigation into subprime lending practices.
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Federal Reserve Expected to Cut Rates .5 Percent Today
At 2:15 PM today the Federal Reserve is expected to drop rates by a half of a point as part of an ongoing effort to combat the effects of the housing slump and credit crunch on the economy.
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Posted by Ryan Fiore on Jan 30 2008 under Ben Bernanke, Federal Reserve, Gross Domestic Product, Housing Market, Mortgage Rates
Economic Growth Drops to Five Year Low
The gross domestic product, which measures total goods and services output within US borders, hit a weaker than expected five year low of .6% in the fourth quarter of 2007.
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Posted by Ryan Fiore on Jan 30 2008 under Ben Bernanke, Federal Reserve, Gross Domestic Product, Housing Market
S&P Shriller Home Price Index Reports 8.4 Percent Home Price Drop
Today S&P Case-Shriller Home Price Index, which reports US home prices in 10 major metropolitan areas, fell a record 8.4 percent for 2007 through November.
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Posted by Ryan Fiore on Jan 29 2008 under Housing Market, Investing in Real Estate
Futures Price Out Another .75 Percent Rate Cut
Wall Street is now speculating that the Federal Reserve will lower interest rates another .75 percent next week on the 30th.
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Bush and Congress Agree on Economic Stimulus Plan
President Bush and congressional leaders agreed today on a $150 billion package of tax rebates and business incentives designed to combat threats of a recession.
Job Reports Signal Stronger Economy
Weekly jobless reports for the week ending with January 19th go against the idea that the conditions in the labor market are pointing towards a recession.
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Congressional Budget Office Waves off Recession Woes
The Congressional Budget Office stated today that they forecast that the slowing economy will not sink into an election year recession, and that an economic rebound is likely beginning next year as housing and financial market turmoil fades.
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Posted by Ryan Fiore on Jan 23 2008 under Housing Market, Mortgage Lending
Mortgage Applications Down 11.6 Perecent Last Week
The Mortgage Bankers Association reported today that mortgage applications fell a seasonally adjusted 11.6% in the last week of 2007.
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