The recent spate of weaker economic data doesn’t mean the U.S. recovery is faltering, and the Federal Reserve continues to get closer to the time when it will need to raise interest rates, a top central bank official said Thursday.
“The economy is still growing,” Federal Reserve Bank of Richmond President Jeffrey Lacker told Dow Jones [...]
Archive for the ‘real estate’ Category
Fed’s Lacker: Economy Is Recovering Despite Weak Data
July 9th, 2010 by HardMoney Writer
Tags: central bank, chief economist, Dow Jones Industrial, economic recovery, European economy, Federal Reserve, interest rates, mortgages, subprime mortgage, unemployment rate, US Economy
more...Federal Reserve weighs steps to offset slowdown in economic recovery
July 8th, 2010 by HardMoney Writer
Federal Reserve officials, increasingly concerned over signs the economic recovery is faltering, are considering new steps to bolster growth.
With Congress tied in political knots over whether to take further action to boost the economy, Fed leaders are weighing modest steps that could offer more support for economic activity at a time when their target for [...]
Tags: credit markets, economic recovery, economy, Federal Reserve, financial crisis, Financial Markets, hard money lender, interest rates, mortgage, mortgage rates, unemployment rate
Mortgage Bonds Booming
July 2nd, 2010 by HardMoney Writer
Residential mortgage bonds, the center of the financial crisis not long ago, are once again darlings of the financial market.
Investors are seeking out mortgage bonds backed by the U.S. government as a safe haven from the tumult of the global economy, a reversal of fortune that has helped drive mortgage rates for consumers to record [...]
Tags: consumers, Fannie Mae, financial crisis, financial market, Freddie Mac, global economic, home sales, homeowners, housing market, investors, mortgage rates, mortgages
New Round of E.C.B. Funding Tempers Optimism
July 1st, 2010 by HardMoney Writer
Higher-than-expected demand for cash from the European Central Bank on Thursday signaled that many banks are still unable to get the funds they need on the open market, setting back policy makers’ efforts to take banks off life support.
Hopes that financial institutions were on the mend had risen Wednesday after 171 banks drew €131.9 billion, [...]
Tags: central bank, debt crisis, European Central Bank, financial crisis, financial market, hard money lender, hard money lenders, Hard Money Loans, investments, loan, money
Gold Advances in New York as Investors Seek to Protect Wealth
June 28th, 2010 by HardMoney Writer
Gold rose in New York to within 0.4 percent of a record as investors bought the metal to protect their wealth amid financial market turbulence.
Hedge-fund managers and other large speculators increased their net-long position in gold futures on the Comex in New York by 4 percent to 238,634 contracts in the week ended June 22, [...]
Tags: businesses, Commodities, consumers, Financial Markets, global economic, Gold & Precious Metals, investors, money, US Economy
Budget: Bank levy set to raise about £2bn
June 22nd, 2010 by HardMoney Writer
UK banks and building societies are to be hit with a levy in a move to raise about £2bn a year, the chancellor has announced.
The levy is part of a joint move between the UK, France and Germany.
George Osborne said the financial crisis began in banking so it was fair that banks contributed to the [...]
Tags: businesses, European economy, eurozone economy, financial crisis, Financial Markets, loan, money, wall street
China’s yuan move to help ties-U.S. ambassador
June 21st, 2010 by HardMoney Writer
* Yuan move removes “irritant” in U.S.-China relations
* Step a “genuine attempt” to provide yuan flexibility
* No real progress in military relationship (Adds details, quotes)
China’s signal over the weekend that it would give more room for the yuan to move is a genuine step toward currency reform that should help improve U.S.-China ties, the U.S. [...]
Tags: Bank of China, barack obama, china economy, financial market, global economic, global recovery, investments, stock market
China’s Stocks Drop for Second Day on Europe, Property Concern
May 31st, 2010 by HardMoney Writer
China’s stocks fell for a second day on concern the European debt crisis is worsening and the government will further crack down on property speculation.
China Vanke Co. paced declines for developers on speculation the government will introduce additional measures to tame rising housing prices. Baoshan Iron & Steel Co. and China Cosco Holdings Co. slid [...]
Tags: china economy, eurozone economy, financial, global recovery, mortgage rates, real estate, stock market, US Economy
FOREX-Euro nears 4-year low as China reviews holdings
May 27th, 2010 by HardMoney Writer
* China reviewing euro zone debt holdings — FT
* Euro sentiment negative; contagion risk remains in focus
* U.S. durable goods orders, new home sales rise in April (Updates prices, adds comment)
The euro approached a four-year low against the U.S. dollar on Wednesday on persistent concerns about Europe’s debt woes and after news suggesting that China [...]
Tags: central bank, dollar, economic recovery, economy, euro zone, european union, financial, financial market, hard money, investors, stock market, US Economy
Sales of New Homes in U.S. Jump to Two-Year High
May 26th, 2010 by HardMoney Writer
Purchases of new homes in the U.S. jumped in April to the highest level in two years as buyers rushed to qualify for a government tax credit before it expired at the end of the month.
To receive a tax credit worth as much as $8,000, contracts had to be signed by the end of April, [...]
Tags: debt crisis, economic recovery, economy, eurozone economy, financial market, foreclosure, home buyers, homebuilder, unemployment
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