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financial stress: With the news that the Fed will be buying huge amounts of... - 11/25/08 09:18 AM
mortgage backed securities, you can look for substantially lower rates. This is the move that may really spur home sales. Here is the press release from the Fed...
Press Release
Release Date: November 25, 2008
For release at 8:15 a.m. EST
The Federal Reserve announced on Tuesday that it will initiate a program to purchase the direct obligations of housing-related government-sponsored enterprises (GSEs)--Fannie Mae, Freddie Mac, and the Federal Home Loan Banks--and mortgage-backed securities (MBS) backed by Fannie Mae, Freddie Mac, and Ginnie Mae. Spreads of rates on GSE debt and on GSE-guaranteed mortgages have widened appreciably … (1 comments)
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financial stress: Here we go again...again... - 10/21/08 09:19 AM
It had been a few days without a day new Fed funding facility ... From the Fed: Federal Reserve announces the creation of the Money Market Investor Funding Facility (MMIFF) The Federal Reserve Board on Tuesday announced the creation of the Money Market Investor Funding Facility (MMIFF), which will support a private-sector initiative designed to provide liquidity to U.S. money market investors.
From the Fed...
Press Release
Release Date: October 21, 2008
For release at 9:00 a.m. EDT
The Federal Reserve Board on Tuesday announced the creation of the Money Market Investor Funding Facility (MMIFF), which … (3 comments)
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financial stress: Helping high school kids become financially educated... - 10/20/08 05:56 PM
Since this credit crisis, I have thought what we need is more education regarding financial matters. We, at the Manders Group, have decided that we would like to help high school kids in our area, state and region become more financially educated. We are donating a $200 scholarship to the "Secure Student" for any parent with a high school child that would like to enroll in this program. I have become very active in the Financial Education community and feel that this is a way to give back. Read about the program below and e-mail me(e-mail address on the right side of … (37 comments)
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financial stress: Mortgage rates since the bailout and why... - 10/17/08 01:47 PM
When the U.S. government first took conservatorship of Fannie and Freddie, rates started to plummet as bond purchasors decided that with the "implicit" guarantee for mortgage backed securities they would receive a better yield than comparable treasuries. This was true and investors flocked into MBS's, driving rates on a 30-year fixed to below 5.375 for a few days, but this trend has reversed and here is why...
From the Financial Times:
US mortgage rates have soared this week in an unexpected reaction to the latest Treasury financial rescue plan, which has prompted investors to buy bank debt and sell bonds backed … (3 comments)
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financial stress: Joint press release from the Treasury, Federal Reserve and FDIC... - 10/14/08 07:51 AM
Here is the latest announcement from the Treasury, Federal Reserve and FDIC...
Joint Press Release
Board of Governors of the Federal Reserve SystemU.S. Department of the TreasuryFederal Deposit Insurance CorporationFor release at 8:30 a.m. EDT October 14, 2008
Joint Statement by Treasury, Federal Reserve, and FDIC
Washington, DC-- The following statement was made by Treasury Secretary Henry M. Paulson, Jr, Federal Reserve Chairman Ben Bernanke and FDIC Chairman Sheila C. Bair:
Today we are taking decisive actions to protect the U.S. economy, to strengthen public confidence in our financial institutions, and to foster the robust functioning of our credit … (4 comments)
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financial stress: Fed works in concert with other Central Banks to ease rates... - 10/08/08 06:23 AM
Press Release
Release Date: October 8, 2008
For release at 7:00 a.m. EDT
Joint Statement by Central Banks
Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets.
Inflationary pressures have started to moderate in a number of countries, partly reflecting a marked decline in energy and other commodity prices. Inflation expectations are diminishing and remain anchored to price stability. The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further … (3 comments)
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financial stress: Fed to buy Commercial Paper... - 10/07/08 08:40 AM
Press Release
Release Date: October 7, 2008
For release at 9:00 a.m. EDT
The Federal Reserve Board on Tuesday announced the creation of the Commercial Paper Funding Facility (CPFF), a facility that will complement the Federal Reserve's existing credit facilities to help provide liquidity to term funding markets. The CPFF will provide a liquidity backstop to U.S. issuers of commercial paper through a special purpose vehicle (SPV) that will purchase three-month unsecured and asset-backed commercial paper directly from eligible issuers. The Federal Reserve will provide financing to the SPV under the CPFF and will be secured by all of the … (2 comments)
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financial stress: Statement from Bernanke on bailout passage... - 10/03/08 01:06 PM
Press Release
Release Date: October 3, 2008
For immediate release
I applaud the action taken by the Congress. It demonstrates the government's commitment to do what it takes to support and strengthen our economy. The legislation is a critical step toward stabilizing our financial markets and ensuring an uninterrupted flow of credit to households and businesses.
The Federal Reserve will continue to work closely with the Treasury as it undertakes these new initiatives. We will continue to use all of the powers at our disposal to mitigate credit market disruptions and to foster a strong, vibrant economy.
… (5 comments)
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financial stress: FDIC could now have unlimited access to the Treasury... - 10/01/08 11:37 AM
From the WSJ: Revised Bill Lets FDIC Borrow Without Limits
The Senate financial market rescue bill would temporarily allow the Federal Deposit Insurance Corp. to borrow unlimited amounts of money from the Treasury Department in connection with the larger government deposit coverage that would extend until the end of next year.This is important because it would increase the backstop that the FDIC has to make sure that insured depositors can be repaid if their bank fails. full text of the revised bill.
This could really help preven the "run on the banks" that many are fearing and prepare the FDIC for … (3 comments)
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financial stress: Foreign leaders demanding bailout passage... - 10/01/08 08:15 AM
I never thought I would see the United States being led around by our nose by leaders of foreign governments because WE owed them so much money, but it has happened. I am concerned about the signal being sent...
From Bloomberg:
"European Central Bank President Jean- Claude Trichet said U.S. lawmakers must pass a $700 billion rescue package for banks to shore up confidence in the global financial system.
``It has to go, for the sake of the U.S. and for the sake of global finance,'' Trichet said in an interview in Frankfurt with Bloomberg Television late yesterday. ``I am confident, … (0 comments)
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financial stress: Fannie, Freddie and "preferred" stock... - 09/07/08 02:24 PM
Well, it looks like those that hold Fannie and Freddie's preferred stock will be out of luck, as well. This will be particularly hard on some of the banks, who bought lots of this type of stock. This is not what the banks need at this juncture.
From The Market Ticker...
Bullet points:
Both common and preferred stock dividends eliminated (not deferred) GSE portfolios will run down starting in 2010, 10% annually, until at a "safe" level (unspecified) Modest growth in MBS portfolio in 2009 Capital limits eliminated (since Treasury now must pony up whatever is required) Treasury to buy some … (0 comments)
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financial stress: 9 Things to consider in this changing market... - 08/13/08 03:01 PM
I received these 9 things from my coaching company in January and they have helped me keep my sanity and energy in this crazy real estate market...
1) Review, reconnect and recommit to your life plan
2) Read your vision statement. Your Vision statement is the big picture about why you do what you do. Although the day-to-day stuff may have changed, your Vision remains constant
3) Protect key relationships(wife/husband, children, family, friends)--Give your best to your best
4) Rest--Burning the candles at both ends may seem like the thing to do in this market, but rest gives us the best … (1 comments)
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