Category: Finance
Federal Reserve, U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks
This article was published on July 21, 2011 but since the mainstream media wouldn’t touch it, we are posting it here as it may be the biggest story to come out of the financial crisis as of yet… By Bernie Sanders The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how [...]
Mortgage Rates Sink; 30-Year Reaches 4.12%
By AMY HOAK Mortgage rates hit record lows this week, reflecting continued market and U.S. employment concerns, Freddie Mac’s chief economist said Thursday. Rates on 30-year fixed-rate mortgages averaged 4.12% for the week ending Sept. 8, down from 4.22% last week and 4.35% a year ago. The mortgage’s previous low was set the week ended Aug. [...]
Drop in Conforming Loan Limits Would Raise Cost of Housing Financing, Hamper Housing Recovery, C.A.R. Reports
More than 30,000 California families will face higher down payments, higher mortgage rates, and stricter loan qualification requirements if conforming loan limits on mortgages backed by the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac are reduced beginning October 1, 2011, according to analysis by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). “By reducing the [...]
Panelists Concerned Over Fannie, Freddie’s Future
SAN FRANCISCO-With Congress focused on reducing the US debt ceiling, the future of the GSEs—which finance the lion’s share of multifamily project—is in jeopardy. During a capital markets discussion at PCBC last week, panelists expressed their growing concern over the future of Fannie and Freddie. On the flip side, panelists were primarily bullish on the prospects [...]
Opus Bank Completes Acquisition of Cascade Financial Corporation and Cascade Bank
Opus Bank announced today that its acquisition of Cascade Financial Corporation (“Cascade”) was completed as of the close of business on June 30, 2011. In accordance with the Agreement and Plan of Reorganization announced on March 4, 2011, Cascade’s bank subsidiary, Cascade Bank, merged with and into Opus Bank, with Opus Bank as the surviving [...]
Price and pop still tops on the home market
(Though Wenatchee is in Washington, the info is still relevant) Financing is no longer automatic, family budgets are tight, and buyers are cautious, but veteran real estate brokers remain bullish. “Is it a bad market? No, it’s not a bad market,” says Perrin Cornell, a veteran of more than 20 years selling and financing real estate. [...]
