Archive for the ‘Tic’ tag
The Home Equity ATM Machine Slows in First Half of 2008
Whatever else is going on in the housing market, it appears that
Americans are no longer using their homes as gigantic credit
cards to finance new cars, tuition, and vacations.
Freddie Mac’s report on cash-out refinancing for the first half of
2008 showed that the number of homeowners taking that option was the
lowest in three years.
Still, a substantial number of those refinancing Freddie Mac-owned
loans approximately 66 percent did so with new loans that were…
Economist Calls U.S. ADP Employment Report "Grossly Over-Optimistic"
Following the release of the ADP private employment
report on Wednesday, which posted a gain of 9k jobs in July,
economists dismissed the figures as overly optimistic
and predicted they won’t be reflected in the BLS nonfarm payrolls survey
on Friday.
Speaking on CNBC, Joel Prakken, chairman of Macroeconomic Advisors and
spokesperson for the report, characterized the figures as a “weak
report,” while the report emphasized…