Refis Are 81% Of Mortgage Apps This morning we learned, thanks to the MBA, what lock desks already knew: mortgage applications in the U.S. declined last week for a third consecutive time. The weekly index fell 1.4% to the lowest level in six weeks, with purchases down 3.3% and refinancing down .9% percent. (Refi’s are
Lawrence Summers
Refis Are 81% Of Mortgage Apps This morning we learned, thanks to the MBA, what lock desks already knew: mortgage applications in the U.S. declined last week for a third consecutive time. The weekly index fell 1.4% to the lowest level in six weeks, with purchases down 3.3% and refinancing down .9% percent. (Refi’s are
Amazon.com WidgetsThe Obama Era starts this week with a lot of tears and idealism and hope. We don’t discount the historical magnitude of Obama’s win, and in fact, we’re a bit caught up in the moment right now as you can see by our Obamafied logo in the rotation. But to those who are looking
NYU economics professor and RGE Monitor chairman Nouriel Roubini continues to beat his recession drum. During a recent interview (video), he said that the global economy, including all developed and emerging nations, will experience a severe global recession that will last all of 2009. Click here for more on this. He also said that the
President Elect Barack Obama announced key members of his economic team today. Below are bios of these individuals, and also video of Obama’s announcement and Q&A. Obama Announcing His Economic Team Obama’s Press Q&A On Economic Team Economic team members announced today: Timothy F. Geithner, Secretary of the Treasury Timothy Geithner currently serves as president
The NY Times has an interactive chart to track the Treasury’s $700b TARP (Troubled Asset Relief Program). Almost half of funds have been committed by the Bush administration and they announced this week that the remaining funds would be allocated by the Obama administration. As of this morning, it looks like Hillary Clinton is Obama’s
In the midst of a crisis, there’s rarely time to question what caused the crisis. But it’s useful to know who helped get markets to where they are so we can avoid mistakes as we get through the triage and begin formulating policy solutions. Below are two stories that discuss a key player in the