Category: Banking and Finance

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The Fed to Reduce MBS Purchases

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Here’s the statement from the FOMC

Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilizing, but remains constrained by ongoing [...]

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Time Bomb Loans Used Heavily In Bay Area

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Carolyn Said writes for The San Francisco Chronicle $30 billion home loan time bomb set for 2010

Next year, many option ARM payments will begin to readjust, slamming borrowers with dramatically higher monthly mortgage bills. Analysts say that could unleash the next big wave of foreclosures – and home-loan data show that the risky loans were [...]