Housing Market in U.S. Is Reaching Bottom, Ranieri Says The US housing market is reaching a bottom, according to Lewis Ranieri, the mortgage-bond pioneer. While “broad” concern that home prices have further to fall is restraining sales, “many, myself included, think we are at a bottom,” Ranieri said today … Read more on Bloomberg Real [...]
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Plosser Says He Didn't Back Fed's 2014 Pledge on Interest Rates
Plosser Says He Didn't Back Fed's 2014 Pledge on Interest Rates 1 (Bloomberg) — Philadelphia Federal Reserve Bank President Charles Plosser said he didn't support the central bank's decision last month to extend the time frame for low rates at least through late 2014. “Economic conditions have modestly improved … Read more on BusinessWeek Freddie [...]
Indians spend most on expensive products, says BCG study
Indians spend most on expensive products, says BCG study Despite high inflation and interest rates, number of Indians wanting to buy expensive products within the same category, called trading up in retail parlance, is among the highest in the world, says a new study. Read more on Business Standard India
UNLV expert says more people may walk from homes
UNLV expert says more people may walk from homes LAS VEGAS (AP) — A University of Nevada, Las Vegas real estate expert says market conditions in Sin City might lead to more people choosing to walk away from their mortgages. Read more on Reno Gazette-Journal
20% down prices out buyers, Kerry says
20% down prices out buyers, Kerry says US Senator John F. Kerry yesterday urged financial and housing leaders to reconsider a proposal that would require some home buyers to make down payments of at least 20 percent to obtain low-interest mortgages. Read more on Boston Globe
Housing recovery unlikely before 2014, survey says
Housing recovery unlikely before 2014, survey says About 54% of U.S. adults think a recovery in housing will not occur until 2014 or later, according to a new study. That compares with 34% in a November survey. Read more on Milwaukee Journal Sentinel
Tumpel-Gugerell Says EU Interest Rates Should Be Consistent With Economy
Tumpel-Gugerell Says EU Interest Rates Should Be Consistent With Economy European Central Bank Executive Board member Gertrude Tumpel-Gugerell said interest rates should be consistent with economic activity, suggesting she sees room for further monetary tightening. Read more on Bloomberg
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BofA Chief Says Bank Still ‘Struggles Mightily’ on Mortgages
BofA Chief Says Bank Still ‘Struggles Mightily’ on Mortgages Bank of America Corp. Chief Executive Officer Brian T. Moynihan told shareholders today the lender is still straining to curtail bad mortgages in a housing market that faces “enormous challenges.” Read more on BusinessWeek
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Blanchflower says interest rates will remain below 1%
Blanchflower says interest rates will remain below 1% INTEREST rates may have to be held at 1 per cent or below for up to five years as the risk of deflation and a significant period of low growth threaten the economy, former Ban Read more on The Scotsman: Business
Angola Plans to Lower Interest Rates Below 10%, President Dos Santos Says
Angola Plans to Lower Interest Rates Below 10%, President Dos Santos Says Angola plans to lower interest rates below 10 percent, President Jose Eduardo dos Santos told a congress of the ruling party in Futungo, south of the capital, Luanda, today. The overnight lending rate is currently set at 15.75 percent. Read more on Bloomberg