Record High Foreclosures
May 28, 2008
Another piece of devastating news hit the media recently concerning foreclosure rates. In a report released last month the amount of home foreclosures rose to an all time high during the last portion of 2007 between October and December.
This news has fueled the ever growing fears that many consumers have regarding the possibility of a recession while others are using this data to help prove the thought that the U.S economy is already in a recession. [Read more]
Grim Fed Announcement and High Oil Prices Cause Stocks to Fall
May 26, 2008
The Federal Reserve bank’s pessimistic announcement to the public today, combined with the unprecedentedly high price of oil, drove down all the major stock indexes on Wall Street. Trade slowed down as investors worried about rising inflation, rising unemployment, and increasing costs. [Read more]
Fed Pessimistic For This Year
May 24, 2008
The Federal Reserve bank announced today, Wednesday, that the economic situation in America isn’t necessarily going to get better soon. Nonetheless, despite the bad news, the bank says that it is hesitant to lower interest rates any more than it already has. [Read more]
Mortgages Affected By Global Finance Crisis
May 23, 2008
The IMF, or International Monetary Fund, recently announced that the worldwide financial situation relating to the global credit crisis is worsening. The results of the dangerously high default rates on subprime mortgage in the United States are having more and more far-reaching consequences, far beyond America. [Read more]
