Fed bends rules to help two big banks
Interesting move by the fed. Seems like the goal is to let the lenders protect themselves before a federal bail out is required. Bank of America, just "invested" 2 billion in CountryWide. Buffet is also looking to buy a chunk of CountryWide. Interesting movements here.
Existing-homes sales stable in July
Good news here. This keeps the market moving. Florida is remaining steady. One of the affects of the slow down is a "thinning of the herd" for agents and mortgage brokers who were smaller operators.
New-home sales show promise
Builders are liking this. Although plans have slowed, buyers are taking advantage of the free-bees offered by the agents
Credit Union Strength
If more restrictive lending terms are preventing borrowers from getting a loan. Credit Unions offer a lower rate and better terms.
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