calculatedrisk.blogspot.com - 12/3/2008
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From the WSJ: Treasury Considers Plan to Stem Home-Prices Decline The Treasury Department is considering a plan to revitalize the U.S. housing market by reducing mortgage rates for new home loans ... The plan, which is in the development stages, would use mortgage giants Fannie Mae and Freddie ...
online.wsj.com - 12/3/2008
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online.wsj.com —
DEBORAH SOLOMON and DAMIAN PALETTA WASHINGTON -- The
Treasury Department is considering a plan to revitalize the...
U.S. housing market by reducing mortgage rates for new home loans, according to people familiar with the matter. The plan, which is in the ...
(more)
Treasury Considers Plan to Stem Home-Price Decline
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I'd like to refinance, please.
Angry Bear —
In one of the stupidest wastes of Treasury monies this month—a major accomplishment, though AIG hasn't hit the trough again yet, so there might be hope—the Treasury wants to subsidize new mortgages (link to CR): ...
Getting real
self-evident —
... declining, then so will the real value of housing.
As we all know, the Federal Reserve is about to create $100 billion to purchase mortgage-backed securities.
Will these operations be reserve neutral?
No, these operations will be financed through the creation of additional bank reserves.
(h/t Alea)
But that was yesterday’s news. Today’s news is…
WSJ: Treasury Considers Plan to Lower Mortage Rates to 4.5%
The Treasury ...
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