Federal Reserve Super Low Rate Policy Crushes Savers And The Elderly
Fed Sees Solution In Zero Rates
The Federal Reserve recently vowed to keep interest rates “exceptionally low” for the foreseeable future in an attempt to revive the economy. Since mid 2006 the Fed has brought the [...]
Feds Finally Move To Restrict Excessive Bank Compensation And Risk
Bailout Funds Go To Bank Bonuses
Banks that lost billions of dollars on speculative investments and poor loans have routinely been awarding thousands of employees massive bonus payments. Ironically, the only reason many of these banks are still [...]
Greenspan Revisionist Babble
Debt Is The Greenspan Legacy
Alan Greenspan, former Federal Reserve Chairman, today expressed his concern about the level of the US national debt.
Sept. 16 (Bloomberg) – Former Federal Reserve Chairman Alan Greenspan said he’s worried that lawmakers will [...]
Artificial Mortgage Rates Drop To 4.75%
Fed Manipulation Of Mortgage Rates Continues
Mortgage rates continue their downward trend with the perfect borrower now able to obtain a rate of 4.75% with a two point buy-down on a 30 year fixed rate mortgage. As expected, [...]
“Liar Loans” - RIP - October 1, 2009
Liar Loans To Be Prohibited
No income verification and stated income mortgage loans have been available to borrowers for many years. As originally conceived, a no income verification loan was a sound product, offering highly qualified borrowers [...]
Mortgage Refinances Drop 11% As Rates Remain Low
Refinances Decline as Rates Stabilize
The latest weekly survey from the Mortgage Bankers Association showed a decrease of 6.3% in mortgage loan applications. Application volume compared to the previous year increased by 16%.
The interesting aspect of the latest [...]
The Fed’s Contribution To Ponzi Schemes
12% Returns - “Guaranteed”
You don’t know whether to laugh or cry every time another Ponzi scheme comes to light.
July 28 (Bloomberg) — The U.S. Securities and Exchange Commission said it halted a $50 million Ponzi scheme near [...]
Time Shares - Another Shattered Dream
Vacation Turns Into Financial Nightmare
Anyone who has vacationed to a tropical resort cannot be blamed for thinking how great it would be to own a piece of paradise. Those who succumbed to the charms of the omnipresent [...]
Will Mortgage Rates Soar As Fed Programs Wind Down?
Fed Support No Longer Unlimited
There seems to be near unanimous agreement at all levels of government that a recovery in housing prices is essential for economic stabilization and future growth. The Federal Reserve has supported this effort [...]
