Linking ≠ endorsement. Enjoy and share:
- German yields hit 1-1/2 year highs before ECB meeting | Reuters
Thu Sep 5, 2013 6:47am EDT. By Marius Zaharia.
The ECB is facing higher money market rates than before July, when it took the unprecedented step of promising to keep interest rates low for a long time, in a bid to curb the impact from policy shifts across the Atlantic
Since then, forecast-beating euro zone data has renewed rising pressure on money market rates, which filtered through to longer-term maturities on the benchmark German yield curve, reflecting the fact that investors have brought forward expectations of a rate hike.
Read the source article … https://www.reuters.com/article/2013/09/ 05/markets-bonds-euro-idUSL6N0H118V20130 905
- Mortgage applications rise first time in four weeks: MBA | Reuters
NEW YORK | Wed Sep 4, 2013 7:05am EDT
(Reuters) – Applications for U.S. home loans rose for the first time in four weeks as mortgage rates fell from their highest level this year, although demand for purchase loans slipped, data from an industry group showed on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 1.3 percent in the week ended August 30, after sliding 2.5 percent the prior week.
The rise came as 30-year mortgage rates fell to 4.73 percent versus 4.80 percent the prior week, which was its highest this year, according to MBA data.
People came back in because the rates fell. This is why the Fed’s taper will have to be extremely gradual, and they may be premature even thinking about doing it yet.
Read the source article … https://www.reuters.com/article/2013/09/ 04/us-usa-mortgages-idUSBRE9830GF2013090 4
- Foreclosure starts plummet to six-year lows | 2013-09-03 | HousingWire
By Kerri Ann Panchuk. September 3, 2013 7:16AM.
… troubled assets are no longer a major headache, at least not at the same level they were in 2011. The real estate market continues to see fewer sales of troubled properties with distressed sales down 30% for the 12-month period ending in June. Short sales on their own fell 60% from last year, making up only 10% of sales for the 12-month period ending in June.
Read the source article … https://www.housingwire.com/articles/265 74-foreclosure-starts-plummet-to-six-yea r-lows
- Greg Mankiw’s Blog: The Current Account vs the Trade Deficit
This is from 2006 but timely to revisit what with all of the current-account talk about emerging markets.
By Greg Mankiw (chairman of the economics department at Harvard University). Saturday, July 01, 2006.
Professor Mankiw, Would you please discuss the differences between current account deficits and trade deficits? They are often discussed as if they were interchangeable, but I notice that for some countries they diverge significantly.
Read the source article … https://gregmankiw.blogspot.com/2006/07/ current-acccount-vs-trade-deficit.html