Published by Jack Everest on 24 Dec 2008
The Mortgage Bankers Association reported that its overall Market Composite Index, a measure of mortgage loan application volume, shot up 48% on a seasonally adjusted basis for the week ending Dec. 19.
That was driven by a 62.6% leap in the group’s Refinance Index. But the Conventional Purchase Index also increased 17.7%.
Read the entire article at CNNMoney.com.
Published by admin on 18 Sep 2008
UPDATE 6:50 PM EDT: Krauthammer calls Bernanke and Paulson the Petraeus of the the U.S. economy. I agree!!!
News from Treasury Secretary Henry Paulson that he is considering the establishment of an organization like the Resolution Trust Corp to hold certain bank mortgage investments gave investors the assurance they needed to stop their panic.
Source: Yahoo News and the WSJ
Published by admin on 17 Sep 2008
From FoxNews.com…
You’ve heard that people get religion when the chips are down. How true it is!
On a stopover in New York yesterday, I walked in clerical garb down Wall Street, where stocks closed down 504 for the day. I felt like a medical doctor arriving to an isolated town in the Amazon jungle toting visible, life-saving cures. Men and women with long faces and furrowed brows gravitated toward me like terminal patients looking for a spiritual lifeline. Most started off nervously just asking for prayers, with a half smile, not quite sure if God even cared about Wall Street.
Published by admin on 16 Sep 2008
UPDATE 4:00 PM PER THE WSJ…
Barclays PLC has reached an agreement to buy the U.S. capital-markets businesses of Lehman Brothers Holdings Inc. and as many as 9,000 Lehman employees will find jobs with the U.K. bank, according to people familiar with the situation.