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Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates
Yahoo! Finance/CNBC ^
| Sept. 13, 2012
| Jeff Cox
Posted on 09/13/2012 11:01:38 AM PDT by Free ThinkerNY
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To: mwl8787
Everything’s political these days and this move reads to me as a means to pump up stock markets.
Would look for the Obama campaign in the days ahead to use the high stock market levels as their evidence that Obaama has turned the economy around.
To: Free ThinkerNY
So they will not only send the economy into hyperinflation, they will own all of the real estate! What a plan! Yay.
82
posted on
09/13/2012 5:45:04 PM PDT
by
Shady
(The Tea Party is the Party of the American People, Working and creating wealth in SPITE of OBAMA!)
To: Rational Thought
Stock market is not going to save Jug Ears. I would be concerned if this move by the Fed had an immediate impact on unemployment.
No sane person would hire b4 the election, in major part due to Obamacare.
83
posted on
09/13/2012 5:49:01 PM PDT
by
mwl8787
To: Free ThinkerNY
What will happen to all the credit card debt people owe?
To: MrB
“The money isn’t coming from us... “
Yet.....
Their counting on Extortion-Care.
85
posted on
09/13/2012 6:25:58 PM PDT
by
Varsity Flight
(Extortion-Care is the Government Work-Camp: Arbeitsziehungslager)
To: JerseyHighlander
12 months will be like 3 percent of GDP. DAMN.
New Scheme:
Bank originates a mortgage, bank packages mortgage, banks sell conforming mortgage portfolios to Fannie/Freddie, banks sell non-conforming mortgage portfolios to Federal Reserve, Fannie/Freddie sell mortgage portfolios to Federal Reserve.
Besides adding another top layer of complexity, this isnt going to do much to increase velocity or quantity of money.
WELL SAID
86
posted on
09/13/2012 9:45:19 PM PDT
by
TomasUSMC
( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
To: TomasUSMC
Found confirmation on my first take on this from JPMorgan:
Thursday, September 13, 2012
The Fed will buy over half of all new agency MBS
So much for shifting the US mortgage business into the private markets. Going forward the Fed will be a buyer of more than half of all new agency MBS issued. At this point one might as well make the GSEs part of the Fed or give the central bank a mortgage origination capability.
|
Source: JPMorgan |
From http://soberlook.com/2012/09/the-fed-will-buy-over-half-of-all-new.html |
To: Iron Munro
Mortgages during the Carter regime were 17% - if you could get one. The rates exceeded the usury laws in some states and led to alternate financing- if you could find it
I remember qualifying in spring 1980, just after Reagan’s inauguration, for a new house with a 14% VA mortgage rate (conventional rate was 17%)
Under Reagan, within 3 months later by summer 1980 rate dropped to 11.5% and we were so happy when we went to settlement!
88
posted on
09/14/2012 4:15:50 AM PDT
by
silverleaf
(Age takes a toll: Please have exact change)
To: mo
The dollar is busy shrinking while the Fed conterfeits by new funny money at $40billion/month/forever.
Excuse? Destroy the dollar until we have full employment?
What a laugh!
Obaba/Bernanke are just pumping up Wall Street (and screwing Main Street) to help their super rich banker/trader buddies by buying morgage cr*p and giving the mortgage cr*p to the taxpayers to be stuck with.
Another case of sticking the citizens with the 1 percenter’s investment garbage.
Obaba/Bernanke stealing from the non-rich to give to the super rich.
Meanwhile, how does bailing out Obaba’s deficits and the super rich banker buddies with “magic money” help Main Steet?
Help raise raw materials prices, help raise gas&oil costs, help raise prices of retail goods. Help raise food prices.
Help impoverish the little people, while Obabaa and his rich buddies stuff themselves.
89
posted on
09/14/2012 7:00:27 AM PDT
by
OldArmy52
(The MSMedia functions in the USA as Pravda functioned in the USSR.)
To: newnhdad
Releasing the reserves is going to be tricky when oil is approaching $100 a barrel. Going from $4 to $3.50 isn’t that big a deal.
90
posted on
09/14/2012 7:05:25 AM PDT
by
AppyPappy
(If you really want to annoy someone, point out something obvious that they are trying hard to ignore)
To: AppyPappy
doesn’t have to work, just needs to look like he’s doing something..
91
posted on
09/14/2012 7:39:43 AM PDT
by
newnhdad
(Where will you be during the Election Riots of 2012/2013?)
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