Mortgage applications fell last week

Mortgage rates edge down after 5 weeks of gains
NEW YORK (AP) - Rates on fixed Mortgages dipped after rising for five weeks in a row. Freddie Mac says the average rate on a 30-year fixed mortgage slipped to 4.81 percent from 4.83 percent in the previous week. Last month, the rate reached a 40-year low of 4.17 percent, but has since been edging higher. The average rate on the 15-year loan also fell to 4.15 percent from 4.17 percent. It hit 3.57 percent in November, the Lowest Level on records starting in 1991. Rates had been rising since ea...

Today's Economic Data Highlights
Keynes' ghost bothered him. He didn’t know whether it was a dream or not. Then he remembered that a spirit should visit him at the opening NYSE bell... View your shopping cart. After this morning’s report of a sharp setback in Mortgage loan applications, we have the third round on third-quarter GDP and sales and prices of existing homes….There is a modest $1.5-$2.5 billion POMO later. The Mortgage Bankers Association’s index of Mortgage applications tumbled 18.6% last we...

Mortgage rates edge down after 5 weeks of gains
Rates on fixed Mortgages dipped after rising for five weeks in a row. Freddie Mac says the average rate on a 30-year fixed mortgage slipped to 4.81 percent from 4.83 percent in the previous week. Last month, the rate reached a 40-year low of 4.17 percent, but has since been edging higher. The average rate on the 15-year loan also fell to 4.15 percent from 4.17 percent. It hit 3.57 percent in November, the Lowest Level on records starting in 1991. Rates had been rising since early November as inv...

WHO IS ALICIA MUNNELL? AND WHY IS SHE DRAWING FIRE?
Presidential nominations to the Federal Reserve Board are normally humdrum affairs. In fact, Congress hasn't rejected a central-bank nominee in more than eight decades. But this is the Clinton White House, which seems unable to fill any job easily. And that creates uncertainty for the Clintonites' expected choice for a Fed opening: Alicia H. Munnell. Munnell, Assistant Treasury Secretary for Economic Policy, hasn't yet been formally nominated to replace Governor John P. LaWare. But Senate Republ...

US mortgage applications fell 18.6% last week. Rising rates are a good sign of recovery, but there's obviously a dar...
US Mortgage applications fell 18.6% last week . Rising rates are a good sign of recovery, but there's obviously a dark side. To embed this post, copy the code below and paste into your website or blog....

The NYT Piece on CO2 Measurement is a Good Read
There are several interesting articles in the NYT today. The piece on scientist Charles Keeling and how he developed the process of calculating and monitoring Carbon Dioxide levels in the atmosphere is unusually long and detailed for a newspaper piece. It's also simply an interesting, well-written story. It's become impossible to cover Climate Science in any way that does not have a political edge, but the numbers tell a story and one thing is certain, no one gets to negotiate a Bailout from the...

C&L; Opening Bell, 12-23-10
Ho, ho, ho, C&Lers! There have been lots of naughty people in the financial industry this year! But instead of a lump of coal, many of them are getting a big Bonus check in their stockings! Let's take a look at some of the yuletide cheer they've been spreading lately! When Mimi Ash arrived at her mountain chalet here for a weekend Ski Trip, she discovered that someone had broken into the home and changed the locks. When she finally got into the house, it was empty. All of her possessions wer...

Stocks open flat after economic reports
NEW YORK (AP) - Stocks are flat in early trading after a report showed that consumers did not increase their spending in November by as much as analysts predicted. Separately, the Labor Department said that the number of people applying for Unemployment Benefits for the first time fell by 3,000 to a seasonally adjusted 420,000. That fell in line with Wall Street estimates and shows that the Job Market is improving modestly. Later in the morning, investors will get a report on new Home Sales fo...

Stocks flat after mixed economic reports
(12-23) 07:11 PST NEW YORK, (AP) -- A batch of mixed economic reports led to a flat opening for Wall Street Thursday. The Commerce Department said that Americans spent 0.4 percent more in November. Analysts forecasted a bump of 0.5 percent, following an increase of 0.7 percent in October. Consumer spending, which accounts for approximately 70 percent of economic activity in the U.S., is seen as a bellwether of where the economy is headed. Separately, the Labor Department said that the number o...

Stocks flat after mixed economic reports
NEW YORK (AP) - A batch of mixed economic reports led to a flat opening for Wall Street Thursday. The Commerce Department said that Americans spent 0.4 percent more in November. Analysts forecasted a bump of 0.5 percent, following an increase of 0.7 percent in October. Consumer Spending, which accounts for approximately 70 percent of economic activity in the U.S., is seen as a bellwether of where The Economy is headed. Separately, the Labor Department said that the number of people applying fo...

If Every Rich Person Were Larry David, I'd Feel Better About Cutting Their Taxes
The Qatar Model: A New Way Forward for the Middle East? Derek Thompson - Derek Thompson is an associate editor at The Atlantic, where he writes about economics, business, and technology. Derek has also written for BusinessWeek, Slate and The Daily Beast. Derek Thompson is a blogger at TheAtlantic.com and an associate editor for the Business Channel, where he writes about Economic Policy, technology, and the media industry. He is also a visiting research fellow at the Committee for a Responsible ...

If Every Rich Person Were Larry David, I'd Feel Better About Cutting Their Taxes
The Qatar Model: A New Way Forward for the Middle East? Derek Thompson - Derek Thompson is an associate editor at The Atlantic, where he writes about economics, business, and technology. Derek has also written for BusinessWeek, Slate and The Daily Beast. Derek Thompson is a blogger at TheAtlantic.com and an associate editor for the Business Channel, where he writes about Economic Policy, technology, and the media industry. He is also a visiting research fellow at the Committee for a Responsible ...

Home loan demand drops, lowest in nearly 1 year
By Julie Haviv NEW YORK | Wed Dec 22, 2010 7:01am EST NEW YORK (Reuters) - Mortgage applications tumbled to their Lowest Level in nearly a year as a six-week-long rise in Interest Rates took a significant toll on demand, an industry group said on Wednesday. The Mortgage Bankers Association on Wednesday said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended December 17 decreased 18.6 percent, reaching its Lowest Level s...

Home loan demand drops, lowest in nearly 1 year
By Julie Haviv NEW YORK (Reuters) - Mortgage applications tumbled to their Lowest Level in nearly a year as a six-week-long rise in Interest Rates took a significant toll on demand, an industry group said on Wednesday. The Mortgage Bankers... Has QE2 worked? NEW YORK (Reuters) - Mortgage applications tumbled to their Lowest Level in nearly a year as a six-week-long rise in Interest Rates took a significant toll on demand, an industry group said on Wednesday. The Mortgage Bankers Association on...

POS in the News 12/23/2010
Bill McInturff is quoted in The Wall Street Journal’s latest poll showing support for Compromise. A Public Opinion… Posted on December 23, 2010, 10:01 am, by Public Opinion Strategies, under POS in the News. Bill McInturff was quoted in The Wall Street Journal regarding Health Care reform and the Midterm Elections. A Public Opinion Strategies’ poll was mentioned by Greenville Online regarding the Mortgage interest deduction. A Public Opinion Strategies’ poll was cited i...

Growth is good
For The Economy, a slower increase in the population raises concerns about American competitiveness. But it could actually be a good thing. A number of Economists, including the Federal Reserve Chairman Ben Bernanke are worried about the lack of Inflation and income growth in the United States. Fewer workers could drive up salaries. What’s more, fewer new Americans might help slow Government Spending. That may curtail the rising US federal Debt, which many think will soon cause interest ra...

Jobless claims dip, consumer spending rises
WASHINGTON (Reuters) - New U.S. claims for jobless benefits dipped last week and Consumer Spending increased in November for a fifth straight month, reinforcing views of a solid Economic Growth pace in the fourth quarter. Initial claims fell 3,000 to a seasonally adjusted 420,000, the Labor Department said on Thursday, matching Economists' expectations. A separate report from the Commerce Department showed spending rose 0.4 percent after increasing by an upwardly revised 0.7 percent in October. ...

Jobless claims dip, consumer spending rises
WASHINGTON | Thu Dec 23, 2010 9:18am EST WASHINGTON (Reuters) - New U.S. claims for jobless benefits dipped last week and Consumer Spending increased in November for a fifth straight month, reinforcing views of a solid Economic Growth pace in the Fourth Quarter. Initial claims fell 3,000 to a seasonally adjusted 420,000, the Labor Department said on Thursday, matching Economists' expectations. A separate report from the Commerce Department showed spending rose 0.4 percent after increasing by ...

Economists: Fed won't raise rates until 2012
NEW YORK (CNNMoney.com) -- Economists are evenly split on whether the Federal Reserve's current policies are helping The Economy. But they're in agreement on one point -- the Fed won't be raising Interest Rates anytime soon. A CNNMoney.com exclusive survey showed that economists expect the Fed funds rate -- the Central Bank's key overnight interest rate used as a benchmark for a wide range of loans -- to remain near 0% for at least another year. Email Print Comment Only seven out of 25 particip...

Health insurance costs soar
In preparation for the opening of their State of Working America website, the folks at the Economic Policy Institute have been posting some "snapshots" of how The Economy affects workers and their families, including the difference between the upward mobility of whites and blacks, the impoverishment of Children and the dwindling buying power of the minimum wage. The latest snapshot in their scrapbook shows the rocketing rise in Health Insurance costs. Click here for a larger version of th...

Julian Simon and I vs. Paul Krugman, by David Henderson
The two Economists [Krugman and Simon] appeared in different ways. Krugman wrote a deeply, though unintentionally, ironic article titled "Why most economists' predictions are wrong," filled with predictions that were... mostly wrong. Simon, sadly, had just passed away and so his appeared in the issue was by way of David Henderson's remembrance of him. This is from a recent reminiscence by Chris Alden, co-founder of the Red Herring, a now-defunct Silicon Valley publication for which I was the m...

Economy grew modestly in July-September quarter
(12-22) 07:28 PST WASHINGTON (AP) -- The Economy grew at a moderate pace last summer, reflecting stronger spending by businesses to replenish stockpiles. More recent barometers suggest the economy is gaining momentum in the final months of the year. Gross domestic product increased at a 2.6 percent annual rate in the July-September quarter, the Commerce Department reported Wednesday. That's up from the 2.5 percent pace estimated a month ago. While businesses spent more to build inventories, co...

Revived Obama celebrates year-end wins
President Barack Obama capped a crisis-strewn first two White House years flexing restored power at home and abroad after securing big wins from a supposedly "Lame Duck" Congress. Obama won Senate ratification of a new nuclear arms treaty with Russia, which he said sent a "powerful signal" to the world, and fulfilled a Democratic dream by signing a bill allowing gays to serve openly in the Military. On both issues, the president took on and beat fierce obstruction by Republicans just six weeks a...

The man who predicted this winter
As longtime readers recall, I called Global Warming a Fraud all along and as we suffer another cold winter, I just want everyone to know this proves nothing. There will be record warm in a winter month sometime in the future, maybe even this winter. And that will prove nothing either. Solar activity dropped to zero in August 2007. The sun, not the SUV, determines our weather. Anyone who disagrees is a fool and you should help him part with his money as quickly as possible. God put fools on Ear...

Sneak Peek: 'On the Record' 1-Hour Special on Haiti Tonight!
Tune in to tonight's very special ON THE RECORD at 10 pm . We will take you to Cholera-ravaged Haiti nearly a year after it was struck by a deadly Earthquake. You will follow the Rev. Franklin Graham's Samaritan's Purse and the Palin family as we take a look at the devastated country and try to bring Christmas cheer to some Children. Here's another preview of our special on Haiti. Don't miss tonight's ON THE RECORD at 10! ...