Good News and Bad News: Inflation in the Housing Markets
The news is both good and bad, depending on how you look at it. As to the good news, the Dow rose 114 points yesterday and long bonds have been going down. They may be looking ahead to growth and prosperity… or just to inflation. We don’t know. Yields on long-dated Treasury bonds, for example, have been going up (which is what happens when prices go down). Curiously, or perhaps tellingly, they have been rising even as the Fed lowers short-term rates. The feds are trying to keep the party g
UPDATE: Fannie Mae shares slump; co. sees continued housing market weakness
Adds fourth-quarter numbers, latest share price NEW YORK, Feb. 27, 2008 (Thomson Financial delivered by Newstex) Fannie Mae (NYSE:FNM) filed its Form 10-K for fiscal 2007 on Wednesday, reporting a loss of $2.05 billion, or $2.63 a share, for the full year. In fiscal 2006, the company earned $4.06 billion, or $3.65 a share. The stock closed Tuesday at $26.97. Shares were changing hands in premarket action at $25.30, down 6.2%. The company said its results were adversely affected by weakness
Mortgage Woes Boost Credit Card Debt
US News and World Report - … of America executives said credit card delinquencies in California, Florida, Arizona, and Nevada states with high foreclosure rates increased five times as fast as in other states, suggesting that consumers struggling with their mortgage debt are …