VIDEO: Average 30-year Mortgage Rate Dips To 4.39%

Average U.S. rates for fixed mortgages dipped slightly this week. Mortgage buyer Freddie Mac says the average for the 30-year loan declined to 4.39% from 4.41% last week. The increase was driven by speculation that the Federal Reserve would reduce its $85 billion a month in bond purchases. The rise in mortgage rates and higher home prices slowed sales of existing homes, which have fallen for three straight months.

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VIDEO: Average 30-year Mortgage Rate Dips To 4.39%

VIDEO: Yellen Stands By Fed"s Low Interest Rate Policies

Janet Yellen is telling a Senate panel that the economy has regained ground lost to Great Recession but still needs the Federal Reserve’s support because unemployment remains too high at 7.3 percent. Yellen is testifying to the Senate Banking Committee, which is considering her nomination to be the next chairman of the Fed. She says the economy is still performing far below its potential. And she points out that inflation is running below the Fed’s 2 percent target.

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VIDEO: Yellen Stands By Fed"s Low Interest Rate Policies

VIDEO: Negotiations Inside the Fed Mixed Signals to Markets

An inside look at the Fed’s experience over the last five months shows how hard it is for a central bank to communicate about plans that are complicated, conditional and evolving. Jon Hilsenrath discusses. Photo: Getty.

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VIDEO: Negotiations Inside the Fed Mixed Signals to Markets

BUSTED: Bankers Caught On Tape, Joking About Bailout, And How They’d Never Pay It Back

Julia La Roche
Business Insider
June 24, 2013

Once again, we have some more embarrassing conversations between bankers…

The Irish Independent, a Dublin-based newspaper, has uncovered tapes of an internal phone conversation from September 2008 between two executives at Anglo Irish Bank during its bailout deal and they sound pretty scandalous. The Irish Independent points out that the recordings show they misled the Central Bank.

The executives from the recording have been identified as John Bowe (head of the bank’s capital markets) and Peter Fitzgerald (director of retail banking).

However, Bowe “categorically denied” that he misled the Central Bank and Fitzgerald, who wasn’t involved in discussions with regulators, said he was unaware of any intention to mislead, the report said.

WARNING: Graphic language!

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This article was posted: Monday, June 24, 2013 at 12:40 pm

Tags: economics, financial

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BUSTED: Bankers Caught On Tape, Joking About Bailout, And How They’d Never Pay It Back

VIDEO: SAN FRANCISCO News - Oracle, Ben Bernanke, Boeing Co

Wall Street questions Oracle’s strategy after weak Q3 sales. Unfazed by hawks, Bernanke refreshes easy-money message. Boeing puts 787 battery to tough tests it once avoided

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VIDEO: SAN FRANCISCO News - Oracle, Ben Bernanke, Boeing Co

VIDEO: Late-2000s financial crisis News - Paul Fisher, US Federal Reserve, Italy, New York

Who Should Regulate the Banks?Stocks Barrel Ahead on Wall StreetItaly avoids panic at bond auctionWall St. Cash Bonuses Seen up in 2012: NY Comptroller

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VIDEO: Late-2000s financial crisis News - Paul Fisher, US Federal Reserve, Italy, New York